International Financial Reporting Standards
The increasing interconnectedness of the global economy and capital markets has accelerated the push for a single set of high quality global accounting standards. International Financial Reporting Standards (IFRS) are used as the primary accounting framework, or are in the process of being adopted, in more than 100 countries throughout the world, including nearly all significant capital markets outside of the United States.
Conversion from U.S. GAAP to IFRS is not just an
accounting issue, but can result in significant changes throughout the
organization. In addition to the changes to financial reporting, a
switch to IFRS accounting will likely impact areas such as information
systems, vendor contracts, tax reporting, and incentive compensation
arrangements and benefit plans. Appropriate implementation planning is
critical to the successful adoption of IFRS.
HKGLLP provides comprehensive and supported solutions
for the International Financial Reporting Standards (IFRS) treatment
and disclosures of your business transactions.
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