IFRS, International Finacial Reporting Standard, Ernst & Young - Ernst & Young - Korea

Observations on the implementation of "Observations on the implementation of IFRS 7 in corporate entities" (pdf, 5.5mb) gives an overview of disclosures for financial instruments provided in this first year of mandatory application of IFRS 7 Financial Instruments: Disclosures, highlighting challenges faced by companies and drawing comparisons between them. Our observations are based on a survey of the forty largest European corporate companies reporting under IFRS, as at March 31, 2008.

This publication (pdf, 983k) follows our 2007 survey of financial statements. It provides an analysis of some of the key financial reporting issues and coming developments for real estate investors reporting under IFRS with examples from recent financial statements.

This survey analyses how accounting practices in the Consumer products IFRS financial statements survey (pdf, 818kb) have evolved since the adoption of IFRS in Europe. It focuses on the latest annual consolidated financial statements of 21 large publicly listed consumer product companies in seven countries across Europe.

Translated into Korean our illustrative model accounts are designed to offer a guide to presenting financial statements under IFRS for a fictional company in 'Euroland'. Read the full year-end statements, incorporating all IFRS at 31 August 2007, and also interim statements. Our interim statements have been updated to incorporate all IFRS issued at 31 March 2008.

Translated into Korean, this publication discusses the key implementation issues arising from the adoption of IFRS, and the impact on an organization's processes and information systems. Learn from Ernst & Young’s international experience and insights from IFRS conversions.

This publication provides a detailed analysis of the differences between Korean GAAP and IFRS. Written by our experienced Korea IFRS Desk professionals, it provides an insight into the GAAP differences that will require most focus when transitioning your organization to IFRS.