Many US companies find themselves acting like Wait-and-See, Inc. They interpret the switch from US Generally
Accepted Accounting Principles (GAAP) to IFRS as a matter of compliance rather than an opportunity to become more globally competitive by improving key internal processes. Even with over 100 countries already using IFRS, US companies seem to be waiting for the government to declare a definitive final date for their mandate of IFRS reporting before they even approach the transition.
Transitioning to IFRS offers many benefits beyond compliance. Companies completing the transition have reported greater efficiencies in their financial processes, greater profitability under IFRS reporting rules, easier access to foreign capital markets, and improved empirical analysis capabilities resulting from consolidating multiple global divisions on one reporting standard.
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Our portfolio of live events, online and print publishing, business intelligence and professional development brands are centred on the complexities of technology convergence. Operating in 42 different countries, we have developed a unique global knowledge and networking platform, which is trusted by over 30,000 ICT, engineering and technology professionals.
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