International Financial Reporting Standards (IFRSs) are the most globally accepted accounting standards, with over 120 countries now applying IFRSs. The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have completed their agenda of projects to improve and converge their accounting standards.
This wide ranging three-day overview is designed to guide participants step-by-step through important IFRS technical issues, including the IASB's most recent pronouncements. Our specialist instructor will explain the principles clearly and simply and provide real-world examples, including an overview of the requirements for first-time adoption of IFRSs and the practicalities of implementing IFRSs.
This course also provides a comparison and review of significant technical differences between US GAAP and IASB accounting standards. Real-world examples and model financial statements are used to explain and illustrate these critical accounting differences.
This course answers questions such as:
- What are the current IFRS requirements?
- When and how will new standards affect financial statements?
- What are the critical differences between US GAAP and IASB standards?
- What issues are involved in moving from US GAAP to IFRSs?
- When may alternatives be chosen and what options are available for preparing IFRS financial statements?