Dbriefs: Upcoming and Archived IFRS Webcasts

Gain practical knowledge of International Financial Reporting Standards (IFRS) from leading Deloitte practitioners in these informative Webcasts.

Access our archived Webcasts on IFRS*, listed below:

IFRS: Working Toward a More Cost Effective Transition 

July 07, 3:00 PM EDT (18:00 GMT)

International Financial Reporting Standards continue to be adopted by jurisdictions worldwide. What can U.S. companies do now to prepare for a more efficient IFRS conversion even as they watch the SEC's deliberation on the future of IFRS? We'll discuss:

• Areas to consider as the SEC reviews comment letters responding to the proposed IFRS roadmap
• Assessing the potential organizational impact of IFRS to determine complexity and set priorities including the preparation of an impact analysis and roadmap.
• Possible cost effective planning considerations for longer lead-time items, such as systems implementations or upgrades.

Explore ways to develop an IFRS transition plan that addresses company needs while working to reduce implementation costs.

IFRS: A Deeper Dive into Revenue Recognition and Derecognition 

July 29, 2:00 PM EDT (18:00 GMT)

Standard setters and the SEC remain very active on the IFRS front. Keeping up with the changes related to the adoption of International Financial Accounting Standards can help determine the path forward. What might you need to know to plan for a possible conversion? We'll discuss:

• A regulatory update on IFRS developments including a summary of responses to the SEC's proposed IFRS roadmap.
• Possible future SEC action following the end of the comment period on proposed roadmap.
• Revenue recognition and derecognition proposals and key accounting differences between U.S .GAAP and IFRS related to each.

Gain a better understanding of recent regulatory and standard setting developments.

Tax Implications of IFRS: A Deeper Dive on Tax Accounting Methods
May 18, 2:00 PM EDT

Converting to IFRS introduces changes to the recording of revenue and expenses for financial reporting purposes – the starting point for calculating taxable income. Such changes will impact information received by tax departments and the tax result. Could fine-tuning your tax accounting methods help cover the cost of conversion? We’ll discuss:

• Regulatory developments.
• Tax methods, including the 800-pound LIFO gorilla.
• Tax processes as a model for accounting processes.
• Optimizing a conversion.

Understand the practical and technical tax issues associated with tax accounting method changes when converting to IFRS. 

Revisiting International Financial Reporting Standards: What Will the Impact Be In the Real Estate Arena?
April 30, 11:00 AM EDT

Increasingly, U.S. companies are factoring IFRS into their strategic planning – even as they focus on today’s economic challenges. How might U.S. real estate companies reinforce their efforts around IFRS readiness today? We’ll discuss:

• The current economic crisis and its affect on IFRS in the U.S.
• Lessons from the European IFRS experience.
• The SEC’s IFRS roadmap and timing for IFRS adoption.
• Impact of IFRS on publicly owned and privately held real estate companies and funds. 

Learn more about the current state of IFRS and how real estate companies can position themselves for IFRS-related changes. 

IFRS: Is it More Complex Than Many Suspect?
February 25, 2009

As the Securities and Exchange Commission (SEC) ushers in International Financial Reporting Standards, aerospace and defense industry executives are asking questions about its implications, challenges and opportunities. How are you responding? We discuss:

• Differences between IFRS and U.S. Generally Accepted Accounting Principles (GAAP) relating to aerospace and defense companies – areas of long-term contracts, inventory, asset impairment and development costs
• IFRS conversion issues, including human resources, tax, treasury and valuation
• Evaluating the all-in versus tiered approach to IFRS conversion
• Conversion roadmap considerations, including internal capabilities, enterprise resource planning (ERP) or finance transformations, and merger and acquisition (M&A) activities 

Understand why IFRS conversion may be more complex than you think and ways you can stay ahead of the conversion curve. 

IFRS: New Year, New Updates
February 17, 2009

The migration to IFRS will continue full steam ahead in 2009. What do financial executives need to know in the new year about recent proposed rulemaking by the SEC? We discuss:

• A background on the development and use of IFRS by U.S. businesses
• An update on the International Accounting Standards Board (IASB) / Financial Accounting Standards Board (FASB) memorandum of understanding
• The SEC’s proposed roadmap, including the timeline for adoption of IFRS by U.S. issuers
• The financial reporting considerations and broader implications of adopting IFRS

Learn more about how the recent SEC actions regarding IFRS may impact your organization.

International Financial Reporting Standards: Why Private Companies Should Take Note
January 28, 2009

The International Accounting Standards Board is expected to complete its project on IFRS for Private Entities (IFRS-PE) sometime in 2009. This tailored version of full IFRS could be very appealing for private companies. What are expected requirements and next steps for the IASB? We discuss:

• Background on IFRS-PE, including implementation considerations
• Comparing and contrasting IFRS-PE with full IFRS and U.S. GAAP – why IFRS-PE may be more straightforward by eliminating and modifying certain accounting and disclosures
• Unresolved issues and expectations regarding the final IFRS standard 

Learn about the IASB’s latest guidance on IFRS-PE, and the pros and cons of adoption. 

International Financial Reporting Standards: Should TMT Companies Sign On?
December 17, 2008

Many U.S. companies are weighing whether to move from U.S. GAAP to IFRS. What are the pros and cons for technology, media, and telecommunications (TMT) companies of making such a transition? We discuss:

• Global perspectives on IFRS, including recent SEC pronouncements and guidance
• An overview of IFRS benefits and challenges unique to TMT companies, including accounting for revenue recognition and development costs
• IFRS migration strategies, from pure compliance to opportunities for standardizing accounting  practices for all statutory financial reporting practices around the world
  

Learn how TMT companies can effectively respond to the global movement toward IFRS and plan strategically for the transition.

Converting from U.S. GAAP to IFRS: It’s Not Just About Accounting
November 24, 2008

Many tax executives are grappling with the tax accounting considerations of converting from U.S. GAAP to IFRS but haven’t given much thought to other tax-related issues. We discuss:

• Global tax planning that considers how each foreign jurisdiction has or will adopt IFRS
• U.S.-centric complexities of converting to IFRS, including accounting methods, state tax issues and potential challenges of reporting earnings and profits of foreign subsidiaries
•  Tax operational considerations, such as professional development, data collection and software
  

Learn what converting to IFRS entails beyond tax accounting and how your company can smooth the transition.

IFRS: What Are the Implications for Life Sciences Companies?
October 22, 2008

Adoption of International Financial Reporting Standards in the U.S. is increasingly a question of when rather than if. What does this development mean for life sciences organizations? We discuss:

• The global IFRS landscape, including likely timing of adoption in the U.S., and why life sciences may be one of the first off the blocks
• Relevant accounting differences between GAAP and IFRS, impacting areas such as research and development, revenue recognition and impairment
• The collateral impact of IFRS adoption on the finance transformation initiatives underway at many life sciences companies
  

Learn more about what life sciences organizations can be doing now to prepare.

IFRS Conversion: Process, People, Controls, Governance and Technology Implications
October 15, 2008

Migration from U.S. Generally Accepted Accounting Principles (GAAP) to IFRS requires more than accounting changes. How will it impact other areas of your business? We discuss:

• Overview of IFRS and benefits of adoption, including enhanced analytics, stronger internal controls and  governance, and streamlining financial reporting processes
• Assessing impact on financial systems: ERP, budgeting and planning, business intelligence, governance, risk and controls and middleware
• Preparing for transition – skills assessments, competency gaps, change management and incentive plan realignment
• Lessons learned from global companies, both upsides and downsides
  

Understand the business and technology risks and rewards of IFRS, and ways to plan for migration challenges.

Special Edition Webcast: Financial Reporting
IFRS: What Does the Latest SEC Activity Mean for You?
September 19, 2008

The Securities and Exchange Commission’s (SEC) recent meeting around IFRS has sparked important questions from financial executives of U.S. companies – especially as it involves proposed rulemaking that would allow certain U.S. issuers a choice of preparing financial statements using either IFRS or U.S. Generally Accepted Accounting Principles (GAAP). What do financial executives need to know about this proposed rulemaking, and how should they respond? We discuss:

• A background on the development and use of IFRS
• The SEC’s proposed road map, including the timeline for adoption of IFRS by U.S. issuers
• The proposed rule on allowing some companies an option to use IFRS, including which companies would be eligible
• What this means for companies regarding financial reporting considerations and the broader implications of adopting IFRS
  

Learn more about how the recent SEC actions around IFRS may impact your organization.

GAAP and IFRS Convergence: Bridging the Divide
September 3, 2008

An acceleration in the adoption of IFRS is widely expected in the next few years. What are the implications for your compensation and benefits programs? We discuss:

• Analyzing possible financial statement effects of IFRS with regard to compensation and benefits programs, including executive compensation, health and welfare, and retirement programs
• Evaluating the potential impact of IFRS accounting on the operation of your rewards programs, especially those driven by corporate financial performance
• Assessing information technology (IT) and process changes, including information gathering, reporting and internal controls
  

Begin preparing now to decide if and when to adopt IFRS and what the decision means for your compensation and benefits programs.

Corporate Governance – Board Issues: Achieving Effective Management Oversight of Heightened Risk 
August 6, 2008

Fallout from the current subprime mortgage environment has boards of directors even more focused on the risks associated with management decisions. What specific risk topics should boards consider? We discuss:

• The board's role in oversight of risks associated with potential fraud, the Foreign Corrupt Practices Act, IFRS, mergers and acquisitions and extended business relationships
• Steps the board can take to stay informed on key issues and associated risks
• Financial executives' responsibility to the board in addressing risk factors related to key issues

Learn how boards can more effectively fulfill their role of risk oversight and monitoring.

Consumer Business – International Financial Reporting Standards: Opportunities and Challenges Facing Consumer Businesses  
July 24, 2008

By 2010 or 2011, it is expected that U.S. companies will have the option of using IFRS for their financial reporting. What can leading consumer business and retail companies do to position themselves for such a transition? We discuss:

• Regulatory updates, including recent SEC activity
• Benefits, challenges and the broader implications of IFRS
• Approaches and strategies for adopting IFRS
  

Learn more about how consumer businesses can effectively respond to the global movement toward IFRS.

Real Estate – International Financial Reporting Standards: What Will the Impact Be in the Real Estate Arena?
June 3, 2008

As globalization continues, U.S. real estate companies must deal with international financial reporting standards. Should your company make the move to IFRS? We discuss:

• Developments in standard setting and SEC requirements, including convergence of IFRS and U.S. GAAP, options for foreign filers and scenarios for domestic filers
• Impact of IFRS on areas other than financial reporting, including treasury, tax and operations
• Key differences between IFRS and GAAP from a real estate perspective, including accounting for investment properties and real estate sales

Understand factors affecting the real estate industry’s shift toward IFRS, and evaluate whether and when your company should adopt IFRS.

Oil & Gas – International Financial Reporting Standards: What's the Road Ahead?
April 16, 2008

U.S. companies will have the option of migrating to IFRS by 2010 or 2011. Given the global nature of the oil and gas industry, what opportunities and challenges will the conversion to IFRS pose? We discuss:

• The IFRS landscape, including options for foreign filers, scenarios for domestic filers and standard setting, including convergence of IFRS and U.S. GAAP
• Benefits of IFRS, including the opportunity to improve and rationalize financial and accounting reporting processes globally and locally
• Oil and gas-specific threats and a road map for transition to IFRS

Learn about the unique implications of IFRS for oil and gas companies.

Financial Services Industry – International Financial Reporting Standards: Time For U.S. Insurers to Get On Board
March 25, 2008

As regulators move toward IFRS, financial reporting for U.S. multinational companies will become consistent with the global community. What changes will this require of insurers as they adopt IFRS? We discuss:

• Developing a single framework for financial reporting, capital management and management information
• Approaches for determining the fair value of insurance contracts in light of limited market data
• Challenges associated with setting risk and service margins and alternative methods for consideration
• Integrating legacy systems to generate newly required financial and operational information

Prepare for changes that will provide a level playing field for all insurance companies around the world.

International Financial Reporting Standards: Strategies for Adopting a Single Set of Standards
February 2008

Thousands of companies have moved to IFRS in the past year as a basis of financial reporting. Nearly every country has embraced IFRS in some way. How can you take advantage of this global movement? We discuss:

• Key strategies for dealing with the movement toward IFRS
• Risks and opportunities of converting to IFRS at the subsidiary-entity level
• Efficient methods for making the transition to IFRS

Learn the tangible benefits of capitalizing on the global migration toward a single set of financial reporting standards, including reducing financial reporting costs, improving global cash flow and enhancing internal controls.

*Please note: Continuing professional education (CPE) credit is not available for viewing archived programs. Visit CPE Information for details.

As used in this document, ‘Deloitte’ means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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