The Difficulties and Challenges an Enterprise is Facing When Adopts IFRS: Case Study of a Public Listed Company
Date Issued
2011
Date
2011
Author(s)
Lin, Kun-Chin
Abstract
By utilizing the Case Study method, the H-company was selected as the target of research which discusses the challenges and difficulties the H-company is facing when adopts the International Financial Reporting Standards (IFRS). Starting from the Six Major Financial Issues, we discussed the first adoption (IFRS 1) and their impacts, and solutions by modifying the accounting policy and evaluation methods,and then offering the relevant methods for updating the Management Information System (MIS) to facilitate the daily works upon these big changes.The result of research shows that early involvement and promotion will be very helpful to identify the issues and find out the solutions by discussing with Certified Public Accountant(CPA) and government authorities. Both of them can offer the guidances for adoption of IFRS. Since the adoption is still ongoing, the managerial and tax issues are not addressed at this thesis.
The transformation to IFRS is a big process and time-consuming for all of Taiwan’s public listed companies which require to adopt starting from 2013. It is highly recommended that making early decision on direction, tieing up with working team, and getting consensus with CPA will be the key to success of adopting IFRS.
Subjects
IFRS
IFRS 1
MIS
Type
thesis
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