The SEC is on board with its roadmap for implementation. Now everyone else is taking a closer look at international financial reporting standards.

Let’s start with the AICPA, which is offering a complimentary hour-long video that examines IFRS and their implications for U.S. companies. The five-part video, titled “International Financial Reporting Standards: An Overview,” offers insight into:

• existing global convergence efforts;
• the major players in the IFRS movement;
• some of the differences between U.S. and international accounting standards; and
• how companies should prepare to implement IFRS.

Next up is Arleen Thomas, the AICPA’s senior vice president for Member Competency and Development, who explains the SEC’s roadmap in detail in this brief video.

“The AICPA Board of Directors will be commenting on the proposal,” Thomas says, “and will continue to work collaboratively with the FASB, the IASB and the International Accounting Standards Committee Foundation to help bring (proposed IFRS) milestones to fruition.”

Finally, plans are in the works for a new Business Learning Institute webcast that focuses on IFRS. The program is tenatively scheduled for Jan. 8. Further details and registration information will be released shortly. Keep an eye on the MACPA’s IFRS resource center for details.

What are your thoughts on IFRS?