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10 Minutes on Transitioning to IFRS

As this article shows, switching to IFRS will be a bigger change for some companies than for others.  With mandatory transition beginning in 2014 (and voluntary adoption permitted for some companies as early as 2009), it makes sense for management to start sizing up the volume and variety of financial, business, tax, and operational changes—the objective being to avoid a resource-intensive effort at the eleventh hour. Perhaps just as important, sufficient lead time will allow companies to see where the transition to IFRS can deliver substantial benefits, as some Fortune 50 companies are already doing.

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