Tuesday, January 27, 2009

Lessons from the IQPC Summit in Toronto

The IQPC IFRS Summit was on today and continues tomorrow.

I made some interesting notes. There seems to be more than one company that has found lunch and learn sessions a useful tool for training and awareness of IFRS projects. They could even be a way of identifying individuals who have an interest in the project in general.

Another topic that got some traction was how to keep track of the IFRS financial data for the comparative year prior to implementation (2010 for calendar year companies). One person noted that their company would be keeping manual track of the IFRS adjustments. Interestingly one of the presenters said that they would be keeping a "shadow"general ledger. Other presenters and participants indicated a similar approach. Please let us know your thoughts. What are you doing to keep track of your 2010 data.

More thoughts later in the week.

1 comment:

Kim V. said...

Hi Darla!

Thanks again for working with us! You were a pleasure, and I heard very nice things about you from the event. I'm only sorry we didn't get to meet in person!


P.S. Regarding your previous post, I'm very curious to see whether the tortoise or hare wins as well. And if it seems slow to you, well, you've been following this for years, so we should really be turning to Canada for some tips! :)