Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information on how we use and manage cookies please take a look at our privacy and cookie policies. Some parts of the site may not work properly if you choose not to accept cookies.

sections
Home > SAP > An IFRS Fable: The Company That Waited Too Long
 

An IFRS Fable: The Company That Waited Too Long

White Paper Published By: SAP
SAP
Published:  Dec 31, 2009
Type:  White Paper
Length:  6 pages

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.



Tags : 
sap, business intelligence, sap businessobjects, explorer, gaap, ifrs, xbrl