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Former Member
Aug 02, 2012 at 05:02 PM

IFRS non leading ledger

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We are in the process of migrating from Classic GL to New GL. Even though currently the company is not using IFRS (US company) we are considering creating non leading ledger for IFRS at this point as going forward IFRS may be required in couple of year. What are the benefits and drawbacks of creating IFRS ledger now, vs. creating later when it will be actually needed? At this point the IFRS ledger will likely be equivalent to the US GAAP ledger as it is not in the project scope to define the requirements for IFRS?