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Upcoming accounting changes will impact J'can firms — PwC

Sunday, October 01, 2017

A number of far-reaching accounting changes on revenue, credit losses on loans and leases take effect in 2018 and 2019. This is according to PricewaterhouseCoopers (PwC) International Financial Reporting Standards (IFRS) specialist partners during the tenth staging of the firm's annual financial accounting seminar, IFRS n Focus 2017, hosted by PwC in Jamaica at the Jamaica Pegasus hotel on September 26, 2017.

These changes will have a significant impact on revenue, earnings and balance sheets of companies in several industries.

Gail Moore, IFRS specialist partner at PwC Jamaica, noted that, “Accounting standards are constantly changing. At PwC, our objective is to stay on the cutting edge of global financial reporting and ensure that our clients and other stakeholders understand and are fully prepared for the impact new standards will have on them.”

“This conference gives us the opportunity to come together with our valued clients for an intense agenda of learning and networking,” said Alok Jain, advisory leader for the Caribbean region and IFRS specialist partner. “Our dedicated partners and wider team work tirelessly to ensure that PwC Jamaica is providing a superior value proposition to our clients in multiple ways, including this IFRS conference.”

Also among those addressing the seminar was territory leader at PwC Jamaica and Institute of Chartered Accountants of Jamaica 2017 Distinguished Member Awardee Leighton McKnight.

PwC has a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services.