4th of July offer on myCPE Prime, Unlimited courses and credits for just $199. Hurry! (Offer expires on July 04) Click here to start.

Conversion of Financial Statements from GAAP to IFRS

  • Accountant
  • CMA
  • CPA (US)
  • CVA
  • CBA/MCBA
  • CFIRS
  • CWS

Published: October, 2021

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Publicly accountable enterprises
    8 mins
  • Qualitative characteristics
    18 mins
  • Mixed asset measurement model
    39 mins
  • Other depreciation methods
    72 mins
  • Disclosure requirements
    93 mins
  • First time adoption accounting policies
    110 mins
  • Asset retirement obligations
    133 mins
  • Intended benefits of new GAAP statements
    148 mins

Course Description

Many US companies assume IFRS isn’t relevant to them — until the potential for a cross-border deal emerges.

Sooner or later, the time will come when your organization thinks about switching to International Financial Reporting Standards (IFRS) from GAAP. 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.

Converting to IFRS is a significant finance transformational event for a company and maybe prompted by any of the reasons. The long-term effects on a company go beyond accounting and if the planned right can improve various aspects of the organization.

While most financial professionals understand the basic philosophy of IFRS, many are unsure exactly how to convert the various parts of financial statements

Current market conditions mean that bridging the gap between US GAAP and IFRS reporting may become relevant at a moment’s notice, and embarking on a conversion exercise is more than an accounting task, particularly when executed at deal speed. Converting GAAP results and reporting is a transformative involving.

After going through the basics of both IFRS and GAAP, in this continuing education webinar, we will do a side-by-side comparison of the different approaches to asset valuation. In this online Accounting CPE webinar, 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.

By starting now, you will get the jump on your competition, and reel in scarce talent before it vanishes. You can improve your processes and systems.

Having established the conversion process to go from GAAP to IFRS, the next step is to examine a real-life case and use it to illustrate exactly how it was done.

Key topics covered in this online CPE webinar:

  • GAAP and IFRS: The basic building blocks.
  • Understanding how assets are handled in IFRS vs. GAAP.
  • Seeing the differences in valuation of IFRS vs. GAAP.
  • Know the differences between Impairment and revaluation of IFRS vs. GAAP.
  • Walkthrough the initial conversion process from GAAP to IFRS.
  • Learn disclosure requirements IFRS vs. GAAP.
  • Work with practical examples. 
  • To practice case application and development.
  • Application of what we have learned.

This online CPE webinar will concentrate on the entire balance sheet, line by line, and will examine what changes will need to be made, and what will be the consequences of these changes for the company now and into the future.

This self-study webinar is converted from a live Virtual conference.

Learning Objectives

  • To apply the rules, exemptions, and exceptions for the adoption of IFRS.
  • To review and know presentation and disclosure requirements.
  • To discuss the basic differences of IFRS vs. GAAP.
  • To illustrate step-by-step and line-by-line guidelines.
  • To explore the subject with case illustration and participation.
  • To practice the steps of converting GAAP to IFRS.

Recommended For

  • This online CPE webinar is recommended for CPA, CMA, and Other Accounting Professionals desiring to learn the step-by-step approach of converting financial statements from GAAP to IFRS.
  • This online CPE webinar will be insightful for CEOs, CFOs, Business Owners, and Accounting and Finance managers or directors.
  • This Online CPE webinar is intended for accounting and finance professionals in publicly traded companies.
  • This CPE webinar will be insightful for senior management who oversees financial reporting.
  • This webinar offers new insights to the perspicacious finance personnel.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 4 CPE Credit for Certified Valuation Analyst (CVA)
  • 4 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 4 CPE Credit for Certified Management Accountants (CMA)
  • 4 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 4 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 4 CE Credit for Certified Wealth Strategist (CWS)
  • 4 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    4
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

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

FAQs content

  • 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.

Ratings and Review

4

2 Ratings

Excellent

1

Very Good

0

Average

1

Poor

0

Terrible

0

JL

Jason Lapierre, CPA (US)

Nov 2nd, 2021

N/A

We use cookies to improve your experience on our website. Cookies store information about how a user interacts with Website. By clicking "Accept Cookies", you agree that MY-CPE LLC can store cookies on your device. All your data is anonymised and cannot be used to identify you.