International Financial Reporting Standards

<证券交易委员会tion>

国际财务报告准则是什么?

国际财务报告准则(IFRS)是一套会计准则, 由国际会计准则委员会(IASB)开发, that are becoming the global standard for the preparation of public company financial statements. In the United States, the Securities and Exchange Commission (SEC) is considering taking steps to set a date to allow U.S. 让上市公司使用IFRS,或许还会强制采用它.

What is the IASB?

国际会计准则委员会是一个独立的会计准则制定机构,总部设在伦敦. 它由包括美国在内的9个国家的14个成员组成. The IASB began operations in 2001, 当时它接替了国际会计准则委员会. 它的资金来自主要的会计师事务所, 私营金融机构和工业公司,central and development banks, 以及世界各地的其他国际和专业组织. 美国注册会计师协会是国际会计准则委员会的创始成员.

国际财务报告准则在世界范围内的应用有多广泛?

超过12,近100个国家的000家公司采用了IFRS, including listed companies in the European Union. Other countries, including Canada and India, are expected to transition to IFRS by 2011. Some estimate that the number of countries requiring or accepting IFRS could grow to 150 in the next few years.Other countries, such as Japan and Mexico, 是否计划统一(消除显著差异)他们的国家标准.

What is the possibility of the Securities and Exchange Commission substituting IFRS for 公认会计准则?

Many people believe that acceptance of IFRS in the United States by the SEC for public companies is inevitable. For many years the SEC has been expressing its support for a core set of accounting standards that could serve as a framework for financial reporting in cross-border offerings. In recent years, 它支持FASB和IASB制定一套共同的高质量标准的努力, global standards. 最近,它发布了一个概念发布,寻求在允许美国.S. 上市公司在编制财务报表时使用IFRS. SEC Chairman Christopher Cox also announced that later this year the SEC staff will formally propose to the Commission an updated “roadmap” that will lay out a schedule and appropriate milestones for continuing U.S. progress toward acceptance of IFRS.

The bottom line is that CPAs need to begin to prepare for the day in the not-so-distant future when the SEC could designate a date for voluntary, or even mandatory, adoption of IFRS by all U.S. public companies.

What are the advantages of converting to IFRS?

By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons easier. 此外, companies with subsidiaries in countries that require or permit IFRS may be able to use one accounting language company-wide. Companies also may need to convert to IFRS if they are a subsidiary of a foreign company that must use IFRS, 或者他们有一个必须使用IFRS的外国投资者. 此外,如果公司希望在国外筹集资金,它们可能会受益.

转换为IFRS的缺点是什么?

尽管人们普遍认为国际财务报告准则的全球接受是不可避免的, many people also believe that U.S. 公认会计准则 is the gold standard, and that something will be lost with full acceptance of IFRS. Further, certain U.S. issuers without significant customers or operations outside the United States may resist IFRS because they may not have a market incentive to prepare IFRS financial statements. 其他的你.S. issuers may have to stick with U.S. 因为这是向其他监管机构和机构提交的文件所要求的, 由此产生的额外成本比目前仅遵循美国的做法所产生的成本要高.S. 公认会计准则.

Another concern is that worldwide, many countries that claim to be converging to international standards may never get to 100 percent compliance. Most reserve the right to carve out selectively or modify standards they do not consider in their national interest, an action that could lead to incomparability – one of the very issues that IFRS seek to address.

Who are the key players in the United States regarding the development and adoption of IFRS?

The Securities and Exchange Commission, 证券行业的监督管理由谁负责, the Financial 会计 Standards 董事会 (FASB), 建立和解释公认会计准则的独立董事会, 与国际会计准则委员会, 在公认会计准则和国际财务报告准则的融合方面与FASB合作. 通过其会计准则执行委员会, AICPA在财务报告主题上为IASB提供了思想上的领导.

Have any major U.S. companies begun transitioning to IFRS?

直到SEC发布规则允许或要求美国证券交易委员会(SEC)进行交易.S. public companies to adopt IFRS, they must continue to prepare their financial statements under 公认会计准则. 几家大型跨国公司,如宝洁 & Gamble, however, have started using IFRS for their foreign subsidiaries where allowed by local law. Also, some private companies owned by foreign companies are using IFRS to obtain financing in the U.S.

When comparing IFRS and 公认会计准则, what are some overall key differences I should be aware of?

The biggest difference between U.S. 公认会计准则和IFRS的区别在于IFRS提供的细节要少得多. Its guidance regarding revenue recognition, 例如, is significantly less extensive than 公认会计准则, 而且它包含的行业特定指令相对较少.

Probably the best evidence of how much less detail IFRS contains is that IFRS fit into one book, about two inches thick. 与此形成鲜明对比的是, the FASB paperbacks of pronouncements, 加上简装版的FASB新兴问题工作组的共识, measure about nine inches thick, and that doesn’t include all of the U.S. authoritative accounting literature.

IFRS和U之间最重要的具体区别是什么.S. 公认会计准则?

因为IASB和FASB之间的长期趋同项目, 国际财务报告准则(IFRS)和公认会计准则(公认会计准则)之间具体差异的程度一直在缩小. Yet significant differences do remain, 其中任何一种都可能导致显著不同的报告结果, 取决于公司的行业和个人的事实和情况. 例如:

  • IFRS does not permit Last In First Out (LIFO).
  • IFRS use a single-step method for impairment write-downs rather than the two-step method used in U.S. 公认会计准则, making write-downs more likely.
  • IFRS对偶发事件有不同的概率阈值和测量目标.
  • 国际财务报告准则不允许在年底之后纠正债务违约.

Is the possible conversion to IFRS from U.S. 公认会计准则 solely a financial reporting issue?

Most CPAs will be affected somehow because this is an issue that will have an impact far beyond just financial reports. It will affect many aspects of a U.S. company’s operations, from information technology systems, to tax reporting requirements, to the tracking of stock-based compensation.

国际财务报告准则还会影响该行业的其他领域吗?

As IFRS grows in acceptance, 大多数注册会计师, not just auditors, 必须了解新规则吗. 其他人, such as actuaries and valuation experts who are engaged by management to assist in measuring certain assets and liabilities, are not currently taught IFRS. 他们还必须接受全面的培训. Professional associations and industry groups will be integrating IFRS into their training materials, publications, 测试, and certification programs, 学院和大学将把国际财务报告准则纳入其课程. When IFRS is accepted as 公认会计准则 in the United States, it will be included in the Uniform CPA Examination.

What are the likely costs of converting to IFRS?

成本主要取决于各自公司的规模和性质. 而最初的成本确定和量化美国之间的差异.S. 公认会计准则 and IFRS, staff training, and implementing IT support could be significant, the conversion also might result in a reduction of capital and financial reporting related operation costs.

What should I do now?

Be aware that the way financial statements are prepared differs based on whether a company is using IFRS, U.S. 公认会计准则, or another country’s 公认会计准则. 了解美国证券交易委员会关于国际财务报告准则的最新进展及其可能被美国采纳的情况.S. 以及允许非上市公司使用IFRS的各种努力. Two good sources of information are the American Institute of Certified Public Accountants’ website at www.国际财务报告准则.com, and the SEC website at www.证券交易委员会.政府.

如果美国对上市公司强制要求IFRS, 私人公司和非营利组织是否被要求采用国际财务报告准则?

The simple answer is no. All the discussion thus far about the possibility of the SEC designating a future date for voluntary, or even mandatory, adoption of IFRS has been for U.S. public companies only.

也就是说, many privately held companies adopted provisions contained within the Sarbanes-Oxley Act, 比如成立独立的审计委员会. 许多公司可能会对国际财务报告准则采取类似的行动,即使他们没有被强制这样做.

正在采取哪些行动允许私营公司遵循国际财务报告准则?

The AICPA’s 政府erning Council is about to consider amending rules 202 and 203 of the Code of Professional Conduct to recognize the IASB as an international accounting standard setter. That would remove a potential barrier and give U.S. 私营公司和非营利组织选择遵循IFRS.

What might make some private companies or non-profit organizations in the United States adopt IFRS?

The eventual adoption of IFRS by small businesses and not-for-profit organizations is likely to be market driven. The IASB is developing a version of IFRS for small and medium-size entities that would minimize complexity and reduce the cost of financial statement preparation, 但允许这些实体的财务报表的使用者评估其财务状况, 现金流, and performance.