International Financial Reporting Standards (IFRSs) are the most globally accepted accounting standards, with over 120 countries now applying IFRSs. The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have completed their agenda of projects to improve and converge their accounting standards.

This wide ranging three-day overview is designed to guide participants step-by-step through important IFRS technical issues, including the IASB's most recent pronouncements. Our specialist instructor will explain the principles clearly and simply and provide real-world examples, including an overview of the requirements for first-time adoption of IFRSs and the practicalities of implementing IFRSs.

This course also provides a comparison and review of significant technical differences between US GAAP and IASB accounting standards. Real-world examples and model financial statements are used to explain and illustrate these critical accounting differences.

This course answers questions such as:

  • What are the current IFRS requirements?
  • When and how will new standards affect financial statements?
  • What are the critical differences between US GAAP and IASB standards?
  • What issues are involved in moving from US GAAP to IFRSs?
  • When may alternatives be chosen and what options are available for preparing IFRS financial statements?

Learning Objectives

  • 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 IFRSs
  • 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

If you haven't already registered for this course, you can book your place today on our website. If you have already registered, click on the Continue button at the bottom of the page to log in.

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Skill Level: Beginner