US GAAP convergence and IFRS

IFRS and US GAAP Similarities and Differences US financial reporting will change in the next several years. IFRS convergence projects are already having a significant impact on US businesses. Among current accounting standards, IFRS is best positioned to be the global standard.       View publication

Entertainment and media companies are accustomed to dealing with competing standards - VHS versus Betamax and Blu-ray versus HD DVD - and the impact of fundamental market changes - such as the move to digital content and the entry into behavioral advertising.

Likewise, the move to International Financial Reporting Standards could significantly affect the day-to-day operations of entertainment and media companies and may even impact your reported profitability. PwC works with companies to help them prepare now to take advantage of IFRS and to avoid a resource-intensive effort at the eleventh hour.

PwC’s business consultants can assess what changes you should expect in financial reporting, risk management and capital management. Our areas of expertise:

• Improving transparency and comparability for investors and rating agencies
• Creating more efficient access to global capital
• Providing access to scarce IFRS knowledge resources
• Offering insights into implications of tax-related issues
• Fine-tuning your strategies to capitalize on synergies
• Reducing the cost of financial reporting for global companies
• Streamlining merger and acquisition activity