International Accounting Standards

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12 IFRS –Open Items Open Items Agreement on Key Principles IFRS Due Date • Revenue Recognition 2011 • Insurance Contract 2011 • Financial Instruments (IAS 39 replacement) 2010 • Financial Statement Presentation 2011 • Liabilities (IAS 37 amendment) Q4 2009 • Leases 2011 • Post Employment Benefits (incl. Pension) 2011 • Income taxes 2010 • Financial Instruments with characteristics of equity 2011 12
13 IFRS IFRS 1 –First Time Adoption of IFRS Public companies ‐ to report 3 years comparative at 12/31/14, the change will require re‐statement of all prior years in order to get beginning balance at 01/01/12– 2 sets of books! 13
Page 1 and 2: International Accounting Standards
Page 3 and 4: 3 IFRS Who IASB, FASB and SEC What
Page 5 and 6: 5 IFRS ‐ Key Players • IASB Int
Page 7 and 8: 7 IFRS On August 27, 2008, the SEC
Page 9 and 10: 9 Current IFRS Current Relevant Gui
Page 11: 11 IFRS -Open Items Open Items Spec
Page 15 and 16: 15 IFRS Significant differences bet
Page 17 and 18: 17 IFRS 4 ‐Phase I • Interim St
Page 19 and 20: 19 IFRS 4 -Phase II May 2007: IASB
Page 21 and 22: 21 IFRS 4 -Phase II Recent discussi
Page 23 and 24: 23 IFRS 4 ‐ Phase II: Recent Disc
Page 25 and 26: 25 IFRS 4 ‐ Phase II: Current Cha
Page 27 and 28: 27 IFRS ‐ Impact of Changes • R
Page 29 and 30: 29 IFRS ‐ Impact of Changes • A
Page 31 and 32: 31 Solvency II Solvency II (cont) F
Page 33: 33 IFRS ‐ Challenges New challeng

International Accounting Standards

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