IFRS Fundamentals with US GAAP Comparison

Learn about IFRS technical requirements and the significant differences between IFRS and US GAAPThis interactive, five-day workshop provides an overview of the most important IFRS technical issues, including an update on recent developments and expected future changes. Our experienced instructors use financial statements and worked examples to illustrate the detailed, technical principles and bring them to life. The workshop also provides a summary comparison between the technical requirements of IFRS and those of US GAAP and highlights the potential impact these differences may have on an entity’s financial statements. The transition requirements of IFRS 1 are also discussed.

How You Will Benefit

• Understand and apply the presentation, recognition and measurement requirements for IFRS compliant financial statements
• Comply with the detailed IFRS disclosure requirements, including accounting policies
• Appreciate the major differences between US GAAP and IFRS
• Understand the requirements relating to first-time adoption of IFRS and the choices that need to be made
• Appreciate the potential consequences of recent and expected changes to IFRS

What You Will Cover

• History and background of IFRS
• Content of IFRS financial statements
• Recognition, measurement and disclosure requirements for assets and liabilities, including financial instruments
• Revenue recognition issues
• Accounting for business combinations, associates and joint ventures
• Making the transition to IFRS
• Recent and expected future developments
• IFRS and US GAAP differences

Who Should Attend

Anyone currently involved in the preparation or review of financial statements under US GAAP who needs to understand how those requirements differ from IFRS.