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1027: Major IFRS and UK GAAP Differences

IASeminars

Short course

In London ()

£ 750 + VAT

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Description

  • Type

    Short course

  • Duration

    1 Day

Minimize the IFRS learning curve by identifying which UK standards are equivalent or very similar to IFRS. List the major technical differences between the requirements of UK GAAP and IFRS. Adjust UK financial statements to reflect the accounting and disclosure requirements of IFRS. Evaluate the significant impact of these differences through the use of real-world and model financial statements. List the steps to transitioning to IFRS and identify key adjustments needed to prepare the opening IFRS statement of financial position. Suitable for: People with a basic understanding of either IFRS or UK GAAP. No advance preparation is required for this course.

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Course programme

This one-day course provides a review and illustration of the critical differences between IFRS and UK GAAP and also includes information on managing the transition to IFRS.

Course topics, presented using real-world financial statements and examples, include the differences in:

  • Conceptual framework
  • Financial statements and formats
  • Cash flow statements
  • Discontinued operations
  • Interim reporting
  • Segment disclosures
  • Recognition and measurement
  • Property, plant, and equipment
  • Borrowing costs
  • Non-current assets held for sale
  • Intangible assets
  • Investment property
  • Impairment testing and recognition
  • Liability measurement and disclosure
  • Employee benefits, including pensions
  • Income taxes
  • Financial assets
  • Financial liabilities
  • Translation of foreign currency items
  • Presentation of foreign currency accounts
  • Business combinations and consolidations.

The program also includes a current update on:

  • EU and UK financial reporting requirements
  • Status of IFRS – accounting and taxation
  • Changes to the UK statutory reporting environment
  • Other recent changes to UK GAAP and IFRS.

Specific convergence issues covered in the program include:

  • The current IASB and ASB work programs, including timetable for likely future changes
  • Prospects and timetable for IFRS/UK GAAP convergence
  • Current exposure drafts

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1027: Major IFRS and UK GAAP Differences

£ 750 + VAT

The best Other Accounting courses

See all

See all