Conversion of Financial Statements from GAAP to IFRS 2 Credits
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While most financial professionals understand the basic philosophy of IFRS, many are unsure of exactly how to convert the various parts of the financial statements.Â
Sooner or later, the time will come when your organization thinks about switching to International Financial Reporting Standards (IFRS) (or may soon be required to do so). With that in mind, it is more important than ever to ensure that you are equipped with the skills and knowledge to be able to lead your organization in the changes.
This CPE Accounting Course describes the standards to apply and the process to follow for converting Generally Accepted Accounting Principles (GAAP) based financial statements to International Financial Reporting Standards (IFRS) based financial statements. This webinar outlines an easy-to-understand step-by-step procedure for converting your financial statements. It will concentrate on the entire balance sheet, line by line, and will examine what changes will need to be made, and what the consequences of these changes will be for the company now and into the future.
After going through the basics of both IFRS and GAAP, we will do a side-by-side comparison of the different approaches to asset valuation and revenue recognition. Then we will examine the process of conversion which includes deciding what we keep and what we eliminate from GAAP, what we add for IFRS, establishing a valuation for assets and other items, and reviewing the disclosure and presentation requirements.
Join us for an insightful journey as we delve into the intricacies of converting financial statements from GAAP to IFRS. Having already laid the groundwork for this conversion process, it's now time to roll up our sleeves and explore a real-life case study.Â
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is the author of:
“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MA
A very good rendition of a subject not particularly well understood.
JF
Good starter course
Dec 16, 10:00 AM ET
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