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
names of assets and liabilities

1.  Create formulas to calculate the normalized (i.e., percentage scores) for each of the quizzes and exams.  The yellow fields depict where these interim calculations are required

Find the number of different ways in which the 9 letters of the word GREENGAGE can be arranged if exactly two Gs are next to each other?

Manchester Custom Fabricating Company uses a job order system. At the beginning of May, Manchester had two jobs in process, Job #22 (DM = $600 and DL = $780), and Job #23 (DM = $75

What are the advantages and disadvantages of index numbers

Two researchers test the same hypothesis. Researcher A rejects the null hypothesis and researcher B fails to reject the null hypothesis.  Discuss three reasons that could cause the

Managers are very interested in how a consumer makes choice among alternatives. In this exercise, we ask you to consider the price of gasoline you may purchase to operate

Two blocks with masses and hang one under the other. For this problem, take the positive direction to be upward, and use for the magnitude of the acceleration due to gravity. Fi

An experimental surgical procedure is being studied as an alternative to the old method. Both methods are considered safe, but the new method has the potential to reduce operating

Assume that you have a client that is a paper manufacturer and they have expressed concern that the government will pass a new regulation banning the use of chlorine-based technolo