The impact of the shift to ifrs, accounting, Basic Statistics

How do you think the banking sector is going to get impacted? 

Manager 1: The impact of the shift to IFRS is going to be much higher in the banking sector. This impact would be seen in areas of loan loss provisioning, financial instruments etc. There is thus going to be a significant impact on the financial position and performance. It would also impact the capital adequacy ratios. 

Manager 2: Application of IFRS in areas such as provision for loan losses and investments will require a high level of judgment and thus a lot of changes would need to be made in the financial reporting processes.

Analysis: With the various complexities that the banking and financial sector bring with itself, these industries are expected to have the maximum impact in the transition to IFRS. The difference would be due to the changes that would occur in the functioning of financial instruments, loss provisioning etc. All these changes will have a significant impact on the financial position and performance of the banks. 

 Expertsmind.com offers unique solutions in accounting.

Posted Date: 2/25/2012 8:19:19 AM | Location : United States







Related Discussions:- The impact of the shift to ifrs, accounting, Assignment Help, Ask Question on The impact of the shift to ifrs, accounting, Get Answer, Expert's Help, The impact of the shift to ifrs, accounting Discussions

Write discussion on The impact of the shift to ifrs, accounting
Your posts are moderated
Related Questions
fundamentals of cost accounting 17-33 excel template

what are the methods of sampling

Questions 1. A genetic experiment with peapods resulted in one sample of offspring that consisted of 443 green peapods and 170 yellow peapods.  Construct a 95% confidence inter

midpoint of class containing highest frequency

a fair die is thrown 3 times. Let X1,X2,X3 denote the results of 3 throws. What is the probablity that p[X1>X2+X3]

A LARGE SHIPPPING COMPANY RECORDED THE NUMBERS OF TONS SHIPPED WEEKLY ACROSS THE PACIFIC FOR 50 WEEKS. ARRANGE DATA IN A LESS THAN CUMULATIVE DISTRIBUTION USING SEVEN CLASSES OF E

how we can solve semi average method

In the 2009 Season, the Toronto Blue Jays finished the season with a record of 75-87. In 47 of those games, both the offense and defense performed adequately, and in 42 of them, ne


The descriptive statistics outputs for both the variables are as below: Wii Group Mean 95.8 Standard