How to Get Started on IFRS in One Easy Step
You don’t need hundreds of hours of CPE to get started. All you need is a client. Just one client.
Crosley
So says Gale Crosley, business development adviser to CPA firms at Crosley + Co.
“Instead of trying to find a company that wants to be an early adopter,” Crosley says, “find a client with a need.”
Start by looking through your client list for U.S. companies that are foreign-owned. Make sure they understand the conversion to convergence is coming and offer them advantaged pricing to get started.
Crosley advises the same strategy for XBRL.
He philosophy is simple, and tried-and-true for most CPAs: Find a client with a problem, and fix it.
If you don’t have a client who needs IFRS or XBRL, ask the bankers or lawyers you know who work with foreign companies.
And if you don’t have any idea how to get started, find someone who does.
Meanwhile, keep your passport handy. The world’s getting smaller, faster.
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IFRS?! Give me a break!
Seriously, can anyone really say that IFRS will be an IMPROVEMENT over US GAAP?
(I don’t even want to think about all the time I’m going to be spending learning this new stuff.)
Yes, really. Please tell me how IFRS is better!
Anyone?