IFRS for Microsoft Dynamics AX - 6 Gen

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Financial statements Consolidation Non-financial assets Equity andemployee benefits* Financial statementpresentation & cashflows (IAS 1 & 7 –deferred project), IFRS1Business combinations(IFRS 3)Tangible assets – PPE &inventories (IAS 16 & 2)Employee benefits(IAS 19)Financial instruments* Recognition andMeasurement of financialinstruments (IFRS 9/IAS 39 replacement)* Revenue (IAS 18) * Scope and financialstatements (IAS 27, 28& 31)* Leased assets (IAS 17)Income taxes (IAS 12 )* Presentation offinancial instruments(IAS 32)Effects of changes inforeign exchange rates(IAS 21)Income statement –estimates & EPS(IAS 8 & 33)Additional disclosures(all standards + IAS 10 &24)Operating Segments(IFRS 8)Interim financialreporting (IAS 34)Foreign exchange &hyperinflationaryeconomies(IAS 21 & 29)^ Non-current Assets Heldfor Sale and DiscontinuedOperations (IFRS 5)Assets valuation –impairment of assets (IAS36)Intangible Assets (IAS 38)Borrowing costs (IAS 23);Investment property(IAS 40)Agriculture (IAS 41);Mineral (IFRS 6);Construction (IAS 11)* IASB Convergence StandardProvisions, contingentliabilities and contingentassets (IAS 37 – deferredproject)* Accounting andreporting by retirementbenefits plans (IAS 26)Accounting forgovernment grants(IAS 20)Share-based payments(IFR S2)* Financial Instruments:Disclosures (IFRS 7)* Financial Instrumentswith Characteristics ofEquity (deferred project)Others: * Insurancecontracts (IFRS 4)^ IASB annual improvement project10
20022006Nov2009Jun201020112013 -The IASB andFASB have beenworkingtogether since2002 to achieveconvergence ofIFRSs and U.S.GAAP.(The 2002NorwalkAgreement)The IASB andFASB issued aMemorandumofUnderstanding(MoU) toachieveconvergence.The MoU wasupdated in2008.In a jointstatement, theIASB and FASBreaffirmed theircommitment tothe 2006 MoUto achieveconvergence.The IASB andFASB updatedthe MoU inJune 2010.The updatedwork plan callsfor completionof priorityprojects byJune 2011.The other jointprojects (Joint)are targeted forcompletionafter June 2011.Priority projectsto becompleted byJune 2011.The other jointprojects to becompleted afterJune 2011.Expected USIFRS/GAAPconvergence.11
Page 3 and 4: What is IFRS (International Financi
Page 5 and 6: Harmonising internal and external r
Page 7: IFRS with country variant (EU, loca
Page 12 and 13: ED = Exposure DraftFinancial Crisis
Page 14 and 15: Part Two● Effects of IFRS on syst
Page 16 and 17: As a result it is critical to -●
Page 18 and 19: 1 System supported parallel account
Page 20 and 21: Part Three● Dynamics AX support f
Page 22 and 23: Key ERP RequirementsDynamics AX Fun
Page 24 and 25: Key ERP RequirementsDynamics AX Fun
Page 27: © 2011 Microsoft Corporation. All
Page 30 and 31: Type of Change Details Information
Page 32 and 33: Key System ConsiderationsWhere: Top
Page 34 and 35: ● How to identify the system impa
Page 36 and 37: ED = Exposure Draft 2010 2011MoU Jo

IFRS for Microsoft Dynamics AX - 6 Gen

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