Create an executive summary that analyzes the impact that adoption of International Financial Reporting Standards would have on Swift's financial statements and its investors. For your analysis, consider that IFRS will be adopted in their current form. Consider the effects on each of the account groupings (such as foreign currency transactions, deferred taxes, and leases in different countries) for each of the financial statements (balance sheet, income statement, change in equity statement, and statement of cash flows). Explain the implications of consolidating reporting to the parent company versus segment reporting over major areas of the company.

Answer rating: 100% (QA)

Executive Summary Adoption of International Financial Reporting Standards IFRS by Swift Corporation would have significant implications for its financ... View the full answer