What does IFRS require when presenting general purpose financial statements to ensure comparability both with financial statements of previous periods and with the financial statements of other organizations?
What are some of the differences between presenting financial statements under US GAAP and under IFRS? Quite a few actually! US GAAP uses rules while IFRS is much more principles based, leaving room for judgment in what fits the circumstances best. It allows for financial statements to be more suited to the needs of the users and ultimately presents a “truer” picture of the financial condition and performance of the entity.
IAS1 is very specific and a clear understanding of this standard is essential to presenting an IFRS compliant statement that meets the general-purpose needs of the users of the financial statements.
This CPE webinar will give you a bird’s eye view as well as use a drill-down approach for presenting clear, reliable, relevant, and comparable information in a financial statement that complies with IFRS standard number IAS1.
Key topics:
Review additional statements management needs to provide with IFRS financial statements.
Understand the “Do’s and Don’ts” of formatting IFRS financial statements.
Learn the asset/ liability offsetting rules for presentation in IFRS financial statements.
Understand what needs to be in the Notes to financial statements and what can stay out
Know the disclosure requirements of IAS 1.
Examine general concepts and rules for presentation of IFRS financial statements under IAS 1
Know the minimum inclusion requirements in order to comply with IAS 1.
Explore options for presenting profit or loss and other comprehensive income together or in two sections as part of the IFRS financial statements.
This webinar will describe in detail the overall requirements for the presentation of financial statements, guidelines for their structure, minimum requirements for their content, what to include and what not to include, as well as a good view as to what should be in the notes to the statements.
Learning Objectives
Examine the major parts of the IFRS financial statements (profit-or-loss statement, balance sheet, statement of equity, cash flow statement, and notes)
Easy to follow, step-by-step walk through of IAS 1
Explore the minimum inclusion requirements in order to comply with IAS 1.
Explore the guidelines for the structure and options for presenting the profit and loss and other comprehensive income as per IFRS
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 through its website: www.NASBARegistry.org.
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.
FAQ
To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).
Testimonial
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Delia Cervantes ,
Feb 25th 2021
I was disappointed with the presentation. The instructor basically read the slides, gave no specific examples of presentation or disclosure, did not address the judgements needed for policy presentation, etc. I kept hoping that the presentation would get better since I had paid for it, but the bang for the buck really never happened. Sorry, I'm glad I didn't ask my co-workers to participate in this webinar. I would not recommend.
