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IFRS - Ernst & Young - Slovak Republic

IFRS: a strategic opportunity

The move to International Financial Reporting Standards (IFRS) is the single most important initiative in the financial reporting world.

Its impact stretches far beyond accounting to affect every key business decision, not just how it is reported. Access to up-to-date knowledge, insights and timely advice is essential. As IFRS becomes the financial reporting language in many more countries, consistent interpretation and application becomes ever more vital.

We have developed the global resources — people and knowledge — to provide the benefit of our broad sector experience, our subject matter knowledge and the latest insights from our worldwide network.

IFRS outlook - Ernst & Young's insights on international GAAP

This monthly newsletter provides an easy-to-read combination of Ernst & Young view on a number of current issues regarding IFRS or financial reporting in general, and educational technical content for a non-expert Slovak public. From December 2010 available in English only.

IFRS outlook: January 2012

pdf cover
Download issue in English (pdf, 483kb) 
In this issue:
  • Global Accounting Standards post-2011 — a way forward
  • Hedge accounting moves closer to risk management practices
  • IFRS project update
  • Resources

IFRS outlook September - October 2011IFRS outlook August 2008 cover issue

Download issue in English
  • A better revenue accounting model?
  • Conversation with Wayne Upton — A tough balancing act for the IFRS Interpretations Committee
  • IFRS project update
  • Resources
 
  

IFRS outlook July-August 2011IFRS outlook August 2008 cover issue

Download issue in English 
  • Lease accounting is entering a second phase of public consultation - the impact on lessees
  • Reviews of two key IASB bodies throw light on underlying dynamics of IFRS
  • SEC publishes Staff Paper on incorporating IFRS into the US financial Reporting System - our views
  • IFRS update
  • Resources
 
  

IFRS outlook May-June 2011IFRS outlook August 2008 cover issue

Download issue in English
  • What you need to know about the new consolidation, joint arrangements and disclosure standards
  • Fair value measurement: What you need to know about the new standard
  • IFRS update
  • Resources
 
  

IFRS outlook March-April 2011IFRS outlook August 2008 cover issue

Download issue in English
  • Effective dates — when will proposed new IFRS standards apply?
  • What we think of the new proposed approach for impairment of financial assets
  • Our views on the hedge accounting proposals
  • IFRS update
  • Resources
 
  

IFRS outlook January-February 2011IFRS outlook August 2008 cover issue

Download issue in English
  • Past, present and future state of IFRS — regulators reflect on the adoption of IFRS in Europe and Australia
  • IFRS update
  • Resources
 

IFRS Desk

IFRS Desk at Ernst & Young in Slovakia is a group of dedicated professionals, highly experienced in the field of International Financial Reporting Standards. This Slovak IFRS Desk has the following objectives:

  • To continuously monitor the developments in international accounting standards in general and the related Slovak consequences in particular.
  • To share knowledge related to IFRS (background, content and application) through regular seminars and publications.
  • To help clients convert to IFRS efficiently and effectively and also to assist them in upgrading their financial systems.
  • To offer our expertise in the form of a helpdesk where specific (company related) issues in respect of the interpretation or application of IFRS can be efficiently and effectively handled tailor-made to your needs or requirements.
Careers

Contacts

Please contact us for more information on our Assurance services. 

For more information on IFRS please contact:

Dalimil Draganovský  
Partner
Assurance services
Tel.: +421 2 3333 9665

2010 IFRS outlook

Good Group (International) Limited
International GAAP®
Illustrative financial statements for the year ended 31 December 2010
Based on International Financial Reporting Standards in issue at 31 August 2010

IFRS 4 Phase II and Solvency II
Bridging the gap

While the implementation date for the new IFRS for insurance contracts is not definitive, Exposure Draft and Solvency II implementation projects are expected to run concurrently.  A January 1, 2014 implementation date for IFRS will require an opening balance sheet as of December 31, 2012 and comparative income statement development for reporting periods in 2013.
In this paper, we explore the similarities and differences between the two frameworks, where changes may be required for Solvency II projects and where synergies can be achieved by combining the two implementation programs. Areas of discussion include: Key business process and system implications and Key liability measurement issues. 

Global IFRS Resources

IFRS graphic

Please see our Global IFRS site for additional resources, including Ernst & Young's global IFRS newsletter, IFRS outlook and web based learning modules.

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