No matter how much you would like to leave accounting procedures entirely to your finance department, you can't afford to do so, writes Todd Neely in the Quarter 1/2010 issue of CSCMP's Supply Chain Quarterly. That's because the new International Financial Reporting Standards (IFRS) will have a major impact on supply chain management and costing.
More than 100 countries, including all of the European countries, have already adopted IFRS, while others, such as Canada, Mexico, and Japan are set to adopt the measures in the near future. The United States, meanwhile, is slowly moving in that direction.
What are the implications for supply chain professionals? Here are just a few: br>
For more information about the many ways that the International Financial Reporting Standards will affect supply chain accounting practices, read "Get out your calculators" in the Q1/2010 issue of CSCMP's Supply Chain Quarterly.