Can anyone confirm if the PRC has officially transitioned to full IFRS GAAP reporting and if so, what was the effective date?  Are companies mandated to report in IFRS GAAP or can they still report in PRC GAAP up to a certain point?
Thanks for any clarification any of you can provide.
Also, if you have any resources you might refer me to, that would be great.
Debbie

My question is what  is ifrs is about? why we need it? what is the link of IFRS with IAS and financial statements
 

See link to wikipedia

Hello all,
Our company is operating in aircraft maintenance, repair and overhaul (MRO) sector. Wages are paid to the direct&indirect blue collar employees on monthly basis, regardless of how much man/hour spent. But overtime is paid for the excess time charged.
Regarding the classification of wages paid to the blue collar as fixed and variable, what do you think the classification will be? Should we assume that these wages are related with the level of production, and totally assumed as variable, although the payment is fixed on monthly basis; or only the overtime paid is …

The company should have used the (IAS 16) from the beginning, as this is illiquid investment.
Any way it is possible to apply the cost principle instead of the value, but there should be a reversal of the previouse capital earnnings recognized under ( IAS 40).
In addition a footnote disclosure stating all the effects and details of the principle changes.
Regards
A.A . Rahman

Dear All,
Please guide me on the below
A Company is having land on which construction is going on. The intention of the company is to let it out for the rental …

Hey all , need some help in writing an internal audit report , i’m an internal auditor , i’m a very good in auditing and finalizing the working papers or create work papers and good in the business that i audit .but i face lot of difficulties
in wording an internal audit report , i did research and i know all the standards steps but always i find difficulties word and express my finding in a professional executive summary or detailed report ,  wish you got the point and someone …