IFRS in the USA: An Implementation Guide FLEXCAST

Overview

International Financial Reporting Standards represents the international alternative to U.S. Generally Accepted Accounting Principles. Most of the world already communicates with investors and stakeholders about corporate financial performance in the language of IFRS. The IASB and the FASB have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. This course provides an introductory overview of International Financial Reporting Standards, including detailed discussions of the impact that adopting IFRS will have on businesses. This course also includes comprehensive reviews of the IASB structure and its standard-setting process, the basic framework that serves as the foundation for IFRS and the differences that exist between U.S. GAAP and IFRS.

Highlights

Introduction to IFRS. IASB structure and foundation. IFRS Financial Statements. Framework and preparation. Purpose and status, and more.

Prerequisites

None.

Designed For

CPAs.

Objectives

Define IFRS. Identify the roles that each governing body serves within the IASB Structure. Recognize practices consistent with the due process followed by the IASB when developing and issuing IFRS. Identify financial reports that are within the scope of the IASB Framework. Recognize practices that are consistent with the underlying assumptions and qualitative characteristics of financial statements prepared in accordance with the IASB Framework. Identify the general purpose financial statements required under IFRS and recognize the characteristics of each statement, and more.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.