1015e: IFRS Fundamentals with US GAAP Compariso

Online

£ 2,450 + VAT

Description

  • Typology

    Course

  • Methodology

    Online

  • Duration

    50 Days

Description

Understand and apply IFRS requirements, including accounting policies and disclosures. Appreciate the major technical differences between US GAAP and IFRS requirements. Evaluate the impact of these differences through the use of real-world and model financial statements. Understand the requirements and options relating to first-time adoption of IFRS. Implement the IFRS recognition and measurement rules for assets, liabilities, income, and expenses. Comply with IFRS 'fair value' measurement requirements. Apply the most recent new and revised IFRS standards. Increase planning opportunities through awareness of likely future IFRS changes, including prospects for convergence with US GAAP and other major national accounting standards.
Suitable for: An understanding of basic accounting principles based on any national standards. No advance preparation is required for this course.

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Teachers and trainers (1)

Bill Kemp

Bill Kemp

Senior Instructor

Bill Kemp is a senior instructor and consultant specialising in International Financial Reporting Standards (IFRS) and the comparison of IFRS with UK, US and Canadian Generally Accepted Accounting Principles (GAAP). In the recent past, he has delivered public and in-house training courses around the world to a diverse audience from industries including financial services, retail, real estate, oil & gas, telecoms, and IT. He is a UK chartered accountant, and was educated at the Edinburgh Academy and at Oxford University.

Course programme

This 50-day, 40 CPE credit hour, e-learning course examines in detail the technical issues involved in IFRS and summarizes the critical differences between IFRS and US GAAP. The program is presented using financial statements, case studies, and extensive examples.

Course topics include:

  • Financial statement presentation and specific disclosures (segment reporting, events after the reporting period, cash flow statement, related party disclosures, accounting policies/changes in estimates/errors, discontinued operations)
  • Revenue recognition
  • Recognition and measurement of assets (property, plant & equipment, borrowing costs, investment property and intangible assets) including the accounting treatment of impairment and assets held for sale

Also included are discussions of:

  • Contingencies and non-financial liabilities (including those for employee benefits)
  • Leases
  • Share-based payment
  • Foreign currency transactions and financial statement translation
  • Investments in associates and joint ventures
  • Inventories
  • Accounting for business combinations
  • Consolidated financial statements, including special purpose entities
  • Financial instruments, including the IFRS 7 disclosure requirements

Further topics in the course are:

  • First-time adoption of IFRS
  • Comparison of the Conceptual Frameworks for IFRS and US GAAP
  • Discussion of significant differences between IFRS and US GAAP in each topical area
  • Expected future developments (update on the IASB-FASB convergence project, status of global accounting convergence, Exposure Drafts, other IASB projects and work agenda).

1015e: IFRS Fundamentals with US GAAP Compariso

£ 2,450 + VAT