Consumer products IFRS financial statements survey
Companies need to understand the proposals and to begin assessing the potential impact, preparing for the changes.
International Financial Reporting Standards (IFRS) impact consumer products (CP) entities' business operations, from accounting and reporting to tax planning and compliance, business systems and regulatory compliance.
In this fourth edition of the Consumer Products IFRS survey, we surveyed 20 leading CP entities in Europe who are applying IFRS.
The consumer product-specific issues we discussed include:
Companies need to understand the proposals and to begin assessing the potential impact to prepare for the changes.
Not only can there be significant impact on key financial statement performance indicators, it will also be necessary to implement new processes in the financial reporting systems to gather the relevant information.