This presentation discusses the impact of International Accounting Standards on Australian companies after the IFRS period, with a focus on Wesfarmers. It covers the advantages and disadvantages of adopting IFRS, challenges faced by the Australian Accounting Standards Board, and the implications of IAS on Wesfarmers Limited. The presentation also discusses the impact of new accounting rules on lease recognition and accounting, CGU impairment assessments, and asset impairment assessments.