 Dates & Locations
F 10/28/11 Pasadena
F 1/13/11 Woodland Hills
W 5/31/12 Costa Mesa
Classes meet
9:00am-5:00pm
taught by
Mark Dauberman
Only $248!
Lunch is included with 8-hour classes
8 CPE Hours
Overview
No Prerequisites
No Advance Preparation
Intermediate
(NASBA: AC)
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IFRS vs GAAP
Will we or won't we? And if we do, what impact will it have on my financial statements or those of my clients? We're speaking, of course, of whether or not the US will adopt International Financial Reporting Standards (IFRS). There are many who are confident that we will. Even if we don't, more and more of our clients are doing business internationally and may be obtaining capital from international sources and may be required to present their financial statements in accordance with IFRS.
Over the past couple of decades, many of the pronouncements of the FASB have been affected by international standards. The FASB and the International Accounting Standards Board (IASB) have deliberated many areas jointly with the intent of issuing parallel standards under both US GAAP and IFRS. Despite this fact, there are many significant differences between them.
This program will provide an overview of key provisions of IFRS standards, with an emphasis on major areas of difference from US GAAP. Topics will include:
- The statement of cash flows
- Accounting for inventories
- Accounting for leases
- Fair value
- Accounting for plant & equipment
KEY TOPICS IN GAAP 
Analyze some of the more significant financial reporting issues facing accountants today. Topics will include:
- Business combinations and variable interest entities (VIE's)
- Fair value and accounting for financial instruments
- Accounting for uncertain tax positions
- Impairments
In addition, attendees will have the opportunity to identify the key accounting topics that affect their practices, leading to a discussion of the related accounting issues.
This course will be useful to anyone with financial reporting responsibility and, in particular, those who report to foreign entities or anticipate doing so. Recent and traditional topics will be covered in depth, assuring the application of appropriate principles in preparing financial reports.
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Financial Education Resources is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Ave. North, Ste. 700, Nashville, TN 37219-2417 or by visiting the website