David McCann, CFO.com | US
January 27, 2010

Impact of IFRS on business Process

Business process, IT and accounting policy are inter- related with each other. Neither IT is isolated from the business process nor are the business processes isolated from the accounting policy. Accounting policy is influenced by Accounting Standard. So any changes of accounting standard (US GAPP to IFRS) will have direct impact on accounting policy and also have the impact on business process and finally it will have direct impact on IT. So we may conclude that shifting existing accounting standard to IFRS will have direct impact on IT as business process needs to be changed to be compliant of IFRS.

Posted by Kazi Halim | Feb 3, 2010 8:02 AM ET

Impact of IFRS on business Process

Business process, IT and accounting policy are inter- related with each other. Neither IT is isolated from the business process nor are the business processes isolated from the accounting policy. Accounting policy is influenced by Accounting Standard. So any changes of accounting standard (US GAPP to IFRS) will have direct impact on accounting policy and also have the impact on business process and finally it will have direct impact on IT. So we may conclude that shifting existing accounting standard to IFRS will have direct impact on IT as business process needs to be changed to be compliant of IFRS.

Posted by Kazi Halim | Feb 3, 2010 8:02 AM ET

Technology and Accounting

Changes as needed to IT infrastructure and systems to accomodate the conversion to IFRS should be made after taking the overall needs of the business.
Change,for the sake of change to IFRS,may not be an efficient investment of resources.

Posted by Chandrasekar Venkataraman | Feb 1, 2010 10:52 PM ET

Biz and Tech is a Weave

David Scott, "I.T. WARS", said it best: Most organizations enjoy "security" as a matter of luck. The whole book is about managing business intelligence and best practices. Why does no one else talk about "the business-technology weave"? Google "I.T. WARS" and check out this book. About the 4th or 5th link down, you can find his interview by The Business Forum, Boston. Great!

Posted by Janice Gaines | Jan 28, 2010 1:35 PM ET