National standard setters have struggled with the issue of harmonising local and international accounting standards since the formation of the International Accounting Standards Committee (IASC). IFRS is becoming real and widespread and companies are looking for solutions to overcome their challenges and dilemmas while learning lessons of its proper implementation.

 

The goal with IFRS is to make international comparisons as easy as possible. This comparability has been difficult because, to a large extent, each country has its own set of rules. For example, U.S. GAAP is different from Canadian GAAP. Synchronising accounting standards across the globe is an ongoing process in the international accounting community.

 

The aim of IFRS is to ensure that a company has recognised all share-based payment transactions in its financial statements, so as to provide high quality, transparent and comparable information to users of financial statements. Businesses must demonstrate that their financial reporting standards are under control or risk damaging their reputation before investors.  This interactive workshop will assist you to master the form and components of financial statements by providing common ground for national standard setters.