Conversion of Financial Statements from GAAP to IFRS

  • Shape the future of financial reporting

PREMIUM

Total Credits

4 CPE

Available in Self Study

Recorded On: Apr 14th, 2022

Register
Live Conference

Aug 17th, 2021

Completed
Conversion of Financial Statements from GAAP to IFRS

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 may be prompted by any of the reasons. The long-term effects on a company go beyond accounting and if 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 the of the financial statements. 

This online CPE Virtual Conference 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.

Completed

Continuing Education Credits

The sessions of the conference qualifies for

  • 4 General Credit for all Accountant
  • 4 CPE Credit of Financial Reporting for CMA
  • 4 CPE Credit of Accounting for CPA (US)
  • 4 CE Credit for all CFIRS
  • 4 CE Credit for all CWS

Recommended for

    • This online CPE virtual conference 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 virtual conference will be insightful for CEOs, CFOs, Business Owners, and Accounting and Finance managers or directors.
    • This virtual conference is intended for accounting and finance professionals in publicly traded companies.
    • This virtual conference will be insightful for senior management who oversees financial reporting.
    • This virtual conference offers new insights to the perspicacious finance personnel.

Michel Morley

Date

Aug 17th, 2021

Time

12:00 PM – 02:00 PM
2 Credit

Step-by-step process for converting your balance sheet

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 session, we will do a side-by-side comparison of the different approaches to asset valuation. In this online Accounting CPE session, we will examine the process of conversion which includes deciding what we keep and what we eliminate from GAAP, what we add for IFRS, establish a valuation for assets and other items, and review the disclosure and presentation requirements.

Key topics covered in this online CPE session:

  • 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.

Join us for a unique continuing professional education session that walks you through the step-by-step processes involved in converting your balance sheet, including presentation of materials, theory, and analysis process.

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.
  • 2 General credit of for all Accountant
  • 2 CPE credit of Financial Reporting for all CMA
  • 2 CPE credit of Accounting for all CPA (US)
  • 2 CE credit of for all CFIRS
  • 2 CE credit of for all CWS

Subject Area:

Accounting,Financial Reporting

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

N/A

Advance Preparation:

Michel Morley

Date

Aug 17th, 2021

Time

02:00 PM – 04:00 PM
2 Credit

Practice makes a man perfect! Financial statement analysis practice case that allows you to “read between the lines…”

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 to illustrate exactly how it was done. Attendees of this online continuing education session will be encouraged to participate and answer some basic questions to solidify what they have learned in the first session.

Key topics covered in this online CPE session:

  • To practice case application and development.
  • Application of what we have learned in Session 1

Learning Objectives

  • Case illustration and participation.
  • To practice the steps of converting GAAP to IFRS.
  • 2 General credit of for all Accountant
  • 2 CPE credit of Financial Reporting for all CMA
  • 2 CPE credit of Accounting for all CPA (US)
  • 2 CE credit of for all CFIRS
  • 2 CE credit of for all CWS

Subject Area:

Accounting,Financial Reporting

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

  • Michel Morley
    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.

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