IFRS Considerations for Consumer Products
Part of our IFRS Industry Series
As full acceptance of International Financial Reporting Standards (IFRS) increases in the United States, companies are focused on developing an implementation road map that adds value across the organization. Although the initial focus was on providing consistency in financial reporting standards and increased globalization of companies, IFRS also has resulted in significant efforts beyond financial reporting, in areas such as information technology and human resources. As a result, IFRS is top of mind for corporate executives and leaders across the organization.
More consumer products companies are asking key questions about what IFRS means for them. How does IFRS affect my company? What events would influence my company’s pace of IFRS adoption? What obstacles might we need to consider? These issues and more are addressed in Deloitte's new white paper "International Financial Reporting Standards: Considerations for the Consumer Products Industry."
This paper provides practical industry insights on IFRS and includes useful sections on:
- Key differences between IFRS and U.S. Generally Accepted Accounting Principles for consumer products companies
- The potential implications of IFRS with regard to accounting and finance, systems and tax
- Evaluating approaches to IFRS conversion
- Developing an IFRS road map
Learn more about how to address IFRS in the consumer products industry by downloading the publication below.