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
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo

how we can solve semi average method

Impulse and Momentum Theorem   Impulse is known as the change in momentum of any object:  j  = Δ p   Momentum  is a product of the mass & the velocity of an object, and is a v

The weight in Kg for each person was matched to their intake of fat per day in Grams.  9 people were selected with the following results. Weight (Xi)         Fat (Yi) 45

BALANCE SHEET A financial report that shows the resources, obligations, and stock of a business at a specified time frame in complying with usually recognized sales concepts (GAAP

Who can issue a bill of exchange for what purpose? Only a supplier who has to get the cash from his client for the purchase which was done on credit score platform can increase

From the following information related to XYZ Ltd.; you are required to find out (a) contribution (b) Break-even point in units (c) Margin of safety, (d) Profit Total Fixed Costs

Depreciation during the financial year  The Resources which are bought during the economical season and its determined that the Depreciation will be incurred on them @ 10% PA it

What do u mean by Vectors? Explain its types.