IFRS Conversion in a global environment
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This document discusses considerations for managing an IFRS conversion in a global organization. It recommends centralizing accounting processes to streamline efforts and reduce costs. Key steps include focusing on common accounting standards across subsidiaries while dealing with local exceptions, managing auditors during the principles-based approach, and using the conversion as an opportunity to evaluate and modify current accounting policies.
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IFRS Conversion in a global environment
- 1. Managing IFRS Conversion In A Global Environment Excerpts from a presentation at NJIT December 11, 2009 Andreas Rothe SVP and Global Controller Parsons Brinckerhoff
Editor's Notes
- Specific ones to PB Employee owned despite hundreds of pages of guidance on 123(R) not sufficient for our program. Pay cash not accrual taxes, resulting from partnership Still sec exempt despite 5,000 shareholders Year end – last Friday, 13 periods, local reporting.tax Similar to previous companies. Multiple Ifrs, gaap, german gaap
- UK still UK GAAP, PB operates in hundreds of joint ventures. FIN 46 try to explain someone in ME, Asia, even UK or Australia
- Chart of accts cash and cash equivalents payables Systems, only need to change one
- FIN 46
- Accounting standard which we follow - does not make sense, fasb must have had one drink to many - history