IFRS First-Time Adoption - Exemptions and Options 2 Credits
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IFRS 1 First-time Adoption of International Financial Reporting Standards sets out the procedures that an entity must follow when it adopts IFRSs for the first time as the basis for preparing its general purpose financial statements. The IFRS grants limited exemptions from the general requirement to comply with each IFRS effective at the end of its first IFRS reporting period. When reporting under IFRS, U.S. Publicly Accountable Enterprises (PAE’s), including U.S. publicly traded companies, must publish their first comparative financial statements (including quarterly statements) based on International Financial Reporting Standards (IFRS). They will need to implement the new standards well in advance of that date using IFRS Standard # 1.
IFRS Standard # 1 was specifically issued to help companies with the transition from GAAP. In addition, a reconciling financial statement which bridges the gap between the two will be required. In fact, IFRS requires that the PAE’s be able explain the differences between IFRS and GAAP.
This webinar will outline the step-by-step procedure for implementation and examine the many factors that companies need to carefully consider when implementing International Financial Reporting Standards.
MAJOR TOPICS COVERED:
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| CPA in Canada | 2 CPD | Eligible |
| Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accredited in Business Valuation (ABV) | 2 CPD | Eligible |
| Certified Wealth Strategist (CWS) | 2 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 2 CE | Eligible |
| Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
Credits
2
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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Dive into the world of CPA CPE courses with MY-CPE. Our online courses are here to help you complete your CPA CPE credits seamlessly. We cover a wide range of topics delivered by professional subject matter experts. Forget the traditional way of learning with flexible scheduling and learn at your own pace. Join us and start your journey toward professional growth today!
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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How do I earn credits through live webinars?
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.
Are the live webinars approved by NASBA and other regulatory bodies?
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.
What are the requirements to maintain compliance with live webinar courses?
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.
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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.
How are credits reported to governing bodies?
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.
KS
very informative
MM
It's a dry subject, the examples are very helpful.
Feb 14, 09:00 AM ET
Feb 20, 03:00 PM ET
Feb 26, 12:00 PM ET
-1683829670.webp "Latest IFRS Updates and Application in Financial Reporting")
Mar 05, 02:30 PM ET
Mar 19, 03:00 PM ET
Mar 24, 12:30 PM ET
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