- Credits: 10
- Format: Self-Study eBook
- Field of Study: Accounting
- Author/Speaker: Michael Walker
|Program Prerequisites:||Basic Understanding of Accountancy|
|Published Date:||Mar 2022|
International Financial Reporting Standards (“IFRS”) represent the international alternative to the 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 International Accounting Standards Board (IASB) and their U.S. equivalent (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 of adopting IFRS 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.
After reading the course material, you will be able to:
- Define “IFRS” and recognize practices consistent with the due process followed when developing and issuing IFRS.
- Recognize the basic concepts by which financial statements are prepared under IFRS.
- Identify the primary differences between IFRS and U.S. GAAP and the efforts by the IASB and the FASB to eliminate these differences.
- Recognize the costs and benefits associated with adopting IFRS.
Who Should Attend:
- All Certified Public Accountants (CPAs)