Converting to IFRS is a complex business issue. PwC would like to help simplify it, which is why we have developed an extensive library of IFRS publications. These publications put our extensive global experience in IFRS conversions to work for you. From our "IFRS readiness series", which provides practical guidance through each step of a conversion, to specific industry and technical publications, these resources are designed to address the issues you are facing. New publications are added on an ongoing basis, so please visit regularly, or simply sign up for our IFRS First newsletter for notification of new PwC IFRS publications and webcasts.

View the most recent US IFRS publications

IFRS readiness series

Currency Gains and Losses and IFRS: Tax implications of IFRS on foreign currency gains and losses resulting from long-term intercompany loans
Intercompany loans may have the risk of fluctuating currency valuation. However, currency risk on debt not intended for repayment may receive what some perceive as "beneficial" treatment under some local GAAP financial accounting standards, where currency fluctuation is recorded directly in the balance sheet with no impact to profit. As companies move to IFRS or IFRS for SMEs for statutory reporting purposes, some of these "benefits" may be lost with the increasing likelihood of foreign currency gains and losses being recognized in book and tax income. To better understand the potential tax issues that may result from this change, read this PwC article.

Implications of an IFRS Conversion on Property, Plant and Equipment from a US Tax Perspective
For capital-intensive businesses, including companies in the manufacturing and utility industries, PP&E may account for over 25% of their balance sheet's total assets. From componentization to measurement and asset impairment differences, the conversion from US GAAP to IFRS has the ability to impact the financial reporting of many organizations. In addition, these differences may also have implications on a company's tax accounting, compliance, planning, processes, and systems.

Implications of an IFRS Conversion on the US Research & Development Tax Credit
Kendall Fox, a partner, John Scacco, a director, both with PricewaterhouseCoopers' R&D tax credit practice and Luke Cherveny, a director, with PricewaterhouseCoopers' IFRS national tax practice examine what, if any impact there is on the application of existing R&D tax laws.

IFRS and US GAAP: Similarities & differences (September 2009)
Much has changed over the past year -- market conditions, near-term convergence between IFRS and US GAAP, and the issuance of important new standards. This publication will help companies develop a broad understanding of the major differences between IFRS and US GAAP today as well as an appreciation for the level of change on the horizon.

Mapping the change: IFRS implementation guide
This guide is intended to jumpstart strategic thinking about an IFRS conversion, providing an outline for a suggested IFRS conversion approach, highlighting objectives, timelines, key considerations, and insights.

Preparing your first IFRS financial statement: Adopting IFRS
This paper outlines how US companies should address the process of selecting their new IFRS accounting policies and applying the guidance in IFRS 1 as they begin to prepare for their first IFRS financial statements.

Other featured publications

IFRS is on the horizon -- are your systems ready? Getting your Oracle® E-Business Suite environment ready to meet IFRS reporting requirements
Since technology is a key enabler in the transition to IFRS, companies should focus on systems readiness. This PwC paper addresses the impact of IFRS on Oracle EBS, drilling down into available approaches and options.

10Minutes on the emerging influence of IFRS
Impending adoption of IFRS brings changes that will have numerous implications for US businesses. Revenue recognition, leases, consolidations, and pensions are among the areas where companies may need to rethink certain business operations, strategies, and agreements as a result of convergence.

A tax perspective on implementation, IFRS-Tax action plan (March 2009)
This IFRS publication provides an illustrative action plan that your company’s tax function can use to assess the actions necessary to implement IFRS within the company’s specific timeline.

10Minutes on transitioning to IFRS (September 2008)
This paper delivers a high-level overview of IFRS to the C-Suite. In it, we emphasize why it's important for senior executives and directors to start weighing and preparing for the implications of transition, even if their business isn't among those qualifying for voluntary adoption in 2009. With sufficient lead time, companies will be in a better position to reap the benefits of IFRS.