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ABSTRACT:
International Financial Reporting Standards (IFRS) adoption will have a significant impact on accounting and financial reporting functions, but it will also have an extended impact on other areas of the organization, including technology and systems. In this publication, we explore these technology implications associated with IFRS conversion and discuss: Evaluating the potential technology impact; how companies can prepare technology and systems changes related to IFRS adoption; Major differences between U.S. Generally Accepted Accounting Principles (GAAP) and IFRS - what will it mean for systems? Key IFRS discoveries form some companies around the globe.
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