This edition includes background information on the structure and workings of the IASB; analysis of the use of IFRSs around the world; summaries of all current Standards and Interpretations; and up-to-date details of the IASB and IFRIC projects (pdf).
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IFRS
IFRS: the international accounting language
The international financial reporting standards (IFRS) have rapidly become internationally accepted accounting standards. By now, IFRS is recommended and has become statutory in more than 100 countries. In Europe, compliance with IRFS was introduced for listed companies IFRS in 2005. Under Dutch law, non-listed companies may also prepare their financial statements under IFRS. As a result, IFRS is by now completely integrated into the system of Dutch financial reporting, also called Dutch GAAP (generally accepted accounting principles).
IFRSs and NL GAAP
The Deloitte IFRS Centre of Excellence in The Netherlands has published the third edition of IFRSs and NL GAAP: A Pocket Comparison. This 31-page booklet sets out the key differences between IFRSs and Dutch GAAP for annual periods beginning on or after 1 January 2010. It also includes new and revised IFRSs issued before 31 July 2010 that are not yet effective for annual periods beginning on or after 1 January 2010.
Download IFRSs and NL GAAP: A Pocket Comparison.
Deloitte's integrated approach
Deloitte has expertise in specific IFRS areas. Our firm has an integrated approach to different areas of knowledge by different Deloitte professionals in this country and abroad.
Examples where the application of IFRS is important are mergers and acquisitions (IFRS 3), financial instruments and clarification of risks (IAS 39) (FRS 7), pensions (IAS 19), valuation of intangibles and impairment tests (IAS 36/38).
In these consultancy areas, our accountants, financial advisors, valuation specialists, and actuaries cooperate closely (if necessary), not only in the Netherlands but also in other countries. This is what makes Deloitte unique.
Topics to read
The application of IFRS is a complicated and time consuming process. Ongoing publication of new standards by the regulator makes the process even more demanding. Read more. Further reading:
- IFRS in your pocket 2011
- Model financial statements under IFRS 2007 including IFRS 7
Additional Deloitte services
Together with professionals in other countries, Deloitte provides learning opportunities to support you with the application of IFRS in your organisation. First we would like to introduce you to the IFRS courses offered by the Deloitte academy. Under the guidance of professor doctor Ralph ter Hoeven, top specialists inform you on IFRS. Click here for the current programme (only in Dutch).
We offer:
- A unique online course on all IAS and IFRS standards free of charge
- Daily news on financial reporting worldwide
- Summaries of all standards, interpretations and proposalsIFRS in your pocket 2011
- Many publications on IFRS that can be download free of charge
- Model financial statements according to IFRS
- An electronic library with hundreds of IFRS sources
Do you have a question or do you wish to consult one of our specialists? Do not hesitate to contact us. We will gladly advise you.
Contact
Ralph ter Hoeven
Partner
Tel: +31 (0)88 288 10 80
Dingeman Manschot
Director
Tel: +31 (0)88 288 29 13