Experts Recommend Companies Adopt IFRS Standards Ahead of SEC Decision
Last week’s post regarding IFRS sparked a lot of interest, so we thought we’d revisit the topic this week.
As a refresher, IFRS stands for International Financial Reporting Standards. It’s a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS is issued by the International Accounting Standards Board.
Experts are recommending that companies start implementing IFRS now, ahead of the impending decision by the SEC. There will be a definite transition period, and companies that embrace IFRS early will be less impacted than those that wait until the decision is final.
The switch to IFRS will require accountants to use certified appraisers, and fortunately, Present Value LLC has experience doing appraisals of equipment for international companies worldwide. So if you’re interested in learning more about IFRS or have any questions about it, please don’t hesitate to reach out to us.
IFRS is on the horizon. Are you ready?
Present Value LLC is a worldwide international appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!
