International Financial Reporting Standards (IFRS) | Business Consultants

International Financial Reporting Standards (IFRS)

International Financial Reporting Standards (IFRS) set common rules or policies so that financial statements can be consistent, clear, and comparable around the world. These IFRS Standards are set by the International Accounting Standards Board (Board) and are used mainly by publicly accountable companies, listed on a stock exchange and by financial organizations, such as banks.

Are you Ready? IFRS 16 – Leases

Are you Ready? IFRS 16 – Leases

IFRS Impact Assessment And IFRS Conversion Services

Whenever a new IFRS or revision in existing IFRS has taken place, its effect needs to be assessed to understand the impact on recognition, measurement and disclosure on revenue, expenses, assets and liabilities of an entity. In some other cases, the impact could be on both; on the financial figures as well as on the disclosure requirements. It is very important to analyse the impact of IFRS. Anyways, whether the impact is on the amount to be recognized or the amount to be measured or on the disclosure requirements, it is important to do an analysis of impact on introduction of IFRS well before preparing the financial statement to report to the stakeholders and/or to the public. Our Qualified and experienced business consultants in UAE provide IFRS Conversion Services offers to our clients for converting from their current primary accounting standard to IFRS.