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myCPE

Recent Evolutions in IFRS and IAS Updates 1 Credit

Recent Evolutions in IFRS and IAS Updates 1 Credit

Learning mode

On Demand
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To discuss the current status of the efforts by the FASB and the IASB to make their financial standards fully compatible. 
  • To review the amendments to International Accounting Standard 1 (IAS 1) and IFRS Practice Statement 2 regarding the disclosures of accounting policies.
  • To discuss 2023 amendments to IAS 8: Amendments to accounting policies, changes in accounting estimates, and errors.
  • To examine the amendment to the classification of liabilities as current or non-current. 
  • To review the requirements of the International Sustainability Standards Board (ISSB), which was established in 2021 and operates under the oversight of the IFRS Foundation.

Course Overview

International Financial Reporting Standards (IFRS) were first introduced in 2001 and became a global financial reporting standard the following year when the European Union (EU) announced that IFRS would apply to all EU public companies starting in 2005. 

Today, IFRS is required for domestic public companies in 146 of the 195 countries in the world. The largest exception is the United States, where the US Generally Accepted Accounting Principles (GAAP) are the financial reporting standard. The Financial Accounting Standards Board (FASB) is responsible to set and update US GAAP.  In 2002, the IAS and the FASB pledged to make their financial standards “fully compatible as soon as is practicable.”

In the ever-evolving world of finance, the IASB periodically updates IFRS. The IASB operates under the oversight of the IFRS Foundation. Recent revisions have encompassed enhancements to accounting policy disclosures, the sharpening of materiality definitions, and refinements in the reporting of liability classifications. 

Periodically, the IASB updates issues updates to IFRS. Recent updates included changes to the disclosures of accounting policies, clarification of materiality, and reporting related to the classifications of liabilities.

Whether you navigate the realms of public, governmental, or private practice, this CPE Accounting Session promises insights to enrich your financial reporting journey.

On Demand Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 1 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 1 CPE Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 1 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 1 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 1 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 1 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 1 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 1 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 1 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 1 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Accounting for CIPM 1 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1 CE Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC (Sponsor Id#: 143597) 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 for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

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!

About Instructor

Excel in Your Accounting Career with Thomas Coghlan's Webinars
Thomas Coghlan

Founder & CEO, CPE University, LLC

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He has worked at the intersection of entrepreneurship, business leadership, technology, and education for over 25 years, resulting in a wide range of skills and experiences...

Entrepreneur:

  • Founder and CEO of two successful businesses: Appitur® Co. (EdTech) and CPE University (training for accountants).
  • Advisor and investor for startups in food services, online retail, and technology.

Business Leadership:

  • Progressively responsible roles for multi-national firms in the manufacturing and software industries (Controller -> CFO and IT Director -> VP of Client Services).

Technology:

  • Business Fellow for the Analytics Center of Excellence at Villanova University School of Business.
  • Sold and delivered over $4 million of successful consulting projects.

Education:

  • Developed and delivered over 1,300 hours of live Continuing Professional Education (CPE) for financial professionals.
  • Created and taught undergrad and MBA courses in accounting and analytics for a top US university.


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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.

Reviews and Ratings

out of 5

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JB

Jake Battcher, CMA
5

good overview of the current differences versus GAAP, and the possible future alignment of them

FA

Francisco Aguirre, CIA
5

Great overview of the differences between the IFRS and US GAAP

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