IFRS In-Depth: Events after the Reporting Period ON DEMAND

Overview

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The IASB and the FASB have committed to the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore, it is clear that IFRS represents the future of financial accounting and reporting in the United States. This course presents an overview of IAS 10 Events after the Reporting Period (a topic commonly referred to as “subsequent events” under U.S. GAAP) and discusses the IASB’s and FASB’s efforts towards achieving convergence in this area of financial reporting.

Highlights

Events after the reporting period. Recognition and measurement. Going concern. Disclosures. IFRS and U. S. GAAP convergence.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

Define “events after the reporting period” per the guidelines of IAS 10. Describe the recognition and disclosure requirements for events after the reporting period under IAS 10. Describe the similarities and differences between IFRS and U. S. GAAP in the area of events after the reporting period (a. k. a. “subsequent events”).

Preparation

None.

Notice

None.