U.S./U.K. Government Officials and Representatives from Fortune 50 Corporation and a Leading Accounting Firm Discuss Pending Tax Impact of IFRS Convergence

ARLINGTON, Va., Nov. 11, 2011 /PRNewswire-USNewswire/ -- The global advancement of International Financial Reporting Standards (IFRS) is continuing to occur in jurisdictions all over the world and the U.S. Securities Exchange Commission (SEC) is slated to make a decision on whether and how to incorporate IFRS into the U.S. financial reporting system before the end of the calendar year.

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On November 17, tax officials from the U.K. and U.S. governments will join a Fortune 50 company tax director, and a Big Four accounting firm's U.S. tax accounting services and tax IFRS leader in a BNA webinar exploring how IFRS is impacting the tax functions of U.S. multinational corporations now — in their subsidiaries, as well as across the entire organization — and what they can do to mitigate unforeseen implications and identify potential opportunities.

IFRS Convergence: What U.S. Tax Executives Need to Know NOW will provide participants with a conceptual understanding and practical application of the following:

• The status of IFRS in key jurisdictions around the globe
• The status of the FASB and IASB convergence initiative
  • Key standards included on the Boards' agenda
    • Revenue recognition
    • Leases
  • Current timeline
• How taxing authorities are addressing IFRS
• Tax function considerations associated with transitioning to IFRS
  • Cash taxes
  • Tax accounting methods
  • Tax planning
  • Transfer pricing
  • Tax processes, systems, and controls
• Best practices related to IFRS readiness efforts within tax departments

Upon completion of this program, participants will be able to:

• Understand which key jurisdictions around the world are currently transitioning or have a plan to transition to IFRS
• Understand the proposed changes to key standards included in the FASB and IASB convergence agenda, including revenue recognition and leases
• Understand how taxing authorities around the globe are addressing IFRS, including the U.S.
• Understand how an organization's tax department could be — or is already — impacted by the transition to IFRS in each jurisdiction in which the company operates
• Understand best practices related to IFRS readiness efforts within tax departments

Featured Speakers:

Cyndi Lafuente, Senior Advisor to the Deputy Commissioner (International) Large Business & International at Internal Revenue Service
Tony Sadler (or Adeline Chan), HM Revenue & Customs, CT, International and Anti-Avoidance, Financial Product and Services Team
Aaron Anderson, Director IFRS Policy & Implementation, IBM Corporation
Ken Kuykendall, U.S. Tax Accounting Services & Tax IFRS Leader - PricewaterhouseCoopers LLP
Steve Burkholder, (moderator) Senior Correspondent, Daily Tax Report

IFRS Convergence: What U.S. Tax Executives Need to Know NOW takes place November 17, 2011, from 12:30 P.M. – 2:00 P.M., (ET). To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bna.com/ifrs-convergence-us-w12884904199/?utm_source=newswire&utm_medium=PR&utm_content=TM&utm_campaign=Webinar-11172011 or (in the U.S.) call 1-800-372-1033, menu Option 6, then Option 1. The per site fee is $99.

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About BNA Tax & Accounting Webinars 
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants.  Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area — and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits — all from the convenience of their own office or conference room.

About BNA
BNA, a wholly-owned subsidiary of Bloomberg L.P., is a leading source of legal, regulatory, and business information for professionals. Our network of more than 2,500 reporters, correspondents, and leading practitioners delivers expert analysis, news, practice tools, and guidance — the information that matters most to professionals.  BNA's authoritative coverage spans the full range of legal practice areas, including tax & accounting, labor & employment, intellectual property, banking & securities, employee benefits, health care, privacy & security, human resources, and environment, health & safety.

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