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Since 2005 all EU listed companies have been reporting under IFRS (International Financial Reporting Standards) in their group accounts. The UK and US are both currently considering a transition to IFRS, as are many other countries such as India and Japan.

The switch from local accounting standards to IFRS must be well thought-out, and its implications understood. The lessons learned by the EU's listed companies are that a broad perspective is needed, and that the conversion must be treated as a project, carefully planned and executed.

accountingcpd.net's new online course, Managing your Transition to IFRS, tells you everything you need to know about the new standards, the benefits and the implications of using them, and how to make the transition a smooth one.

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