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International Financial Reporting Standards (IFRS) 

IFRS are undergoing drastic changes. Whether revenue recognition, leasing or financial instruments: past concepts are being replaced by new regulations.

How can KPMG help?

 

KPMG’s IFRS Group is a committed team of specialists with a wealth of experience. We are well-versed with the industry-specific challenges you face and put our practical experience to work to help you implement and adopt IFRS or switch to IFRS or other financial reporting standards.

 

We actively monitor developments in the area of international financial reporting and provide you with updates on and analyses of the concrete impact these developments will have on you.

KPMG’s expertise

  • Adoption of new and revised financial reporting standards
  • Structuring and mapping of transactions (financing, business acquisitions incl. measurement-related questions, discontinued operations and impairment testing)
  • Conversion to different financial reporting standards (IFRS or Swiss GAAP FER)
  • Customized IFRS training sessions with practical and industry-specific examples
  • Preparation of pro forma or carve-out consolidated financial statements and annual financial statements
  • IPO planning
  • Preparation of accounting manuals, charts of accounts, classification and measurement guidelines as well as disclosures

IFRS 16 – The new leases standard

 

On 13 January 2016, the International Accounting Standards Board (IASB) issued the new leases standard IFRS 16. The main goal of the new standard is to bring all leases on-balance sheet by requiring lessees to recognize the related rights and obligations. Lessees will no longer be required to distinguish finance and operating leases as under the current requirements of IAS 17.

 

IFRS 15: How the new IFRS will impact your revenue

 

Revenue is a key indicator when evaluating a company’s performance. On 28 May 2014, the International Accounting Standards Board published “Revenue from Contracts with Customers” as the new revenue recognition standard. This new standard will enter into effect in 2018. We expect IFRS 15 to affect nearly all IFRS users in terms of how they account for and/or disclose revenue. KPMG has prepared the following publications in an effort to help you examine these new regulations early on and form a first impression.

 

Thomas Wicki

Thomas Wicki

Director

+41 58 249 62 58

IFRS - Keep up-to-date!

KPMG will regularly keep you abreast of the latest IFRS changes. Take the opportunity and subscribe to our IFRS E-Newsletter.

IFRS for Financial Services

The KPMG IFRS Financial Services Group is a dedicated team of professionals with profound financial services experience.