International Financial Reporting Standards
(IFRS) From 5,000 Feet
Program Description: This course will provide an overview of the transition from US GAAP to IFRS. The differences between IFRS (principles-based) and U.S. GAAP (rules-based) will be outlined. Discussion of how this accounting transition began, along with an update on the current developments from the SEC, FASB, & the IASB. Finally, financial statements will be analyzed under both standards, along with the current developments on the joint financial statement preparation project.
Objectives: Following completion of the session, participants will be able to:
- Explain the history that has lead up to 113 countries adopting IFRS and abandoning their country specific accounting standards.
- Discuss current developments within the US concerning the adoption of IFRS.
- Explain the difference between the term adoption and convergence.
- Describe current developments with the FASB and IASB convergence project.
- Analyze the differences between the financial statements prepared under IFRS and US GAAP.
Highlights:
- Financial statement presentation
- Prospects and timetable for IFRS-US GAAP convergence
- IASB and FASB joint projects
- Current developments
Designed For: Accountants, users, & preparers of financial statements
Recommended CPE Credits: 1 - 2
Prerequisites: None
Course Level: Basic
Field(s) of Study: Accounting & Auditing, Accounting
Listing by Subject: Accounting, International Financial Reporting Standards, Implementation
To book one of Pete Margaritis’ workshops
National Bookings
Pamela Devine at the Business Learning Institute
443/632.2321 or e-mail pam@bizlearning.net
Ohio Bookings
Contact Megan Eufinger at The Ohio Society of CPAs
1-800-686-2727 X372 or e-mail MEufinger@ohio-cpa.com