Anxiety over IFRS called 'overdone'.

• Author: Heffes, Ellen M.
• Position: GlobalVIEWS - International Financial Reporting Standards - Brief Article

The online United Kingdom-based publication Company Reporting (www.companyreporting.com) has published "Coping with IFRS," explaining what users of financial statements can expect and offering suggestions for dealing with the challenge of the 2000-plus pages of International Financial Reporting Standards (IFRS).

Written by Company Reporting Editor Mark Sproul and Chris Higson, a professor at the London Business School, the report discusses how IFRS is likely to affect the appearance of the balance sheet and income statement. It goes on to examine the impact of IFRS in terms of balance sheet completeness, presentation and valuation, then discusses its impact on the income statement...