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Companies are planning to spend their limited financial systems
budgets on extracting better management information, according to our new survey. Pat Sweet reports.
The need to know - Part 2 | Part 1 | Part 3
One obvious catalyst for systems investment is the introduction
of the new International Financial Reporting Standards (IFRS)
in 2005, which will require all publicly listed companies
and their subsidiaries to produce specific information in
standard reports. Since the 2005 reports will have to offer
comparisons with the 2004 figures, organisations need to start
preparing now.
However, over a third (36%) of our sample simply do not know
what effect the new regulations will have on their accounting
systems. Yet few expect major upheavals, since when they were
asked to assess the impact using a scale of 1 to 5 where 1
represents ‘not at all’ and 5 represents ‘ to a great extent’,
only 2% opted for a score of 5.
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Consultants' Advisory 2004
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