1027: Major IFRS and UK GAAP Differences

This one-day course provides a comprehensive review of current technical differences between the standards of the UK Accounting Standards Board (ASB) and those of the International Accounting Standards Board (IASB). Practical illustrations, including a reconciliation of IFRS profit to UK GAAP, are used to demonstrate how key accounting differences can affect financial performance measurements. Our expert instructors use real-world examples and financial statements to explain and illustrate the critical IFRS-UK GAAP accounting differences.

Prospects for the ultimate convergence of IFRS with UK GAAP are also explored, including coverage of joint projects by the IASB, ASB and other national standard setters (e.g. the US FASB). The course includes an overview of major accounting developments in the European Union.

Course topics also include an overview of the requirements upon initial adoption of IFRS (IFRS 1), in order to assist delegates in the process of transition from UK GAAP to IFRS.