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Conversion of Financial Statements from GAAP to IFRS

Shape the future of financial reporting

  • Price

    $49

  • Total Credits

    4 Credit

    4.5

Conversion of Financial Statements from GAAP to IFRS

Overview

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.

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Continuing Education Credits

The sessions of the conference qualifies for

  • 4 CPE Credit of Accounting & Auditing for CIA
  • 4 CPE Credit of External Financial Reporting Decisions for CMA
  • 4 CPE Credit of Accounting for CPA (US)

Speakers

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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Session Details

Michel Morley
Michel Morley

Date

Nov 26th, 2021

Time

12:00 PM – 02:00 PM
2 Credits

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 CPE credit of Accounting & Auditing for all CIA
  • 2 CPE credit of External Financial Reporting Decisions for all CMA
  • 2 CPE credit of Accounting for all CPA (US)

Subject Area:

Accounting & Auditing,Accounting,External Financial Reporting Decisions

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

N/A

Advance Preparation:

Break

02:00 PM – 04:00 PM EDT

Michel Morley
Michel Morley

Date

Nov 26th, 2021

Time

04:00 PM – 06:00 PM
2 Credits

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 CPE credit of Accounting & Auditing for all CIA
  • 2 CPE credit of External Financial Reporting Decisions for all CMA
  • 2 CPE credit of Accounting for all CPA (US)

Subject Area:

Accounting & Auditing,Accounting,External Financial Reporting Decisions

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Ratings and Review

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Frequently Asked Questions

This is a virtual event and shall be held on Zoom Application. The handout material for each session shall be available for download on the conference/workshop detail page.

Virtual conference with myCPE is enveloped around a theme or subject or driven towards a particular audience, and is designed to be more collaborative; with a tremendously interactive agenda, panel discussions, and gives an option to all participants being able to turn their web cameras on and participate more actively. Virtual conference offers multiple sessions over a longer time frame of more than 8 hours. Virtual conferences help build a community or initiate networking opportunities.

The duration of this event can be seen below its title. The credits for this conference/workshop are also mentioned below the title.

The Specific Takeaways and the purpose of this event is mentioned in the ‘Overview’ and ‘Session Details’. Additionally, by attending a Live Virtual Event you can experience the interactivity equivalent to an in-person conference without having to leave your screens or risk your lives especially post pandemic situations. Nevertheless, bulk CPE/CE is an icing on the cake.

myCPE is seamlessly integrated with ZOOM for conducting continuing education events. Please ensure that you check the system requirements before the event starts. The system requirements are :

  • An internet connection – broadband wired or wireless (3G or 4G/LTE)
  • Speakers and a microphone (required in case of interactive sessions) – Built-in, USB plug-in, or wireless Bluetooth
  • A webcam or HD webcam - built-in, USB plug-in (required in case of interactive sessions)
  • CLICK HERE to view the System Requirements for Zoom.

There is an official break scheduled for this workshop/events. Other than the scheduled break, the in-session breaks shall be available at discretion of the speaker.

A live virtual event enables remote participants to access live, interactive networking opportunities and content through their computers/other digital devices, no matter where they are located. These events can be conducted in multiple formats;

Conference: A virtual conference is an activity, organised in a way that participants can meet and discuss themes of common interest through the use of communication tools at a central location on the Internet

Workshop: A workshop is not very different from a conference. The key point that makes a workshop unique is that it is a brief intensive educational program for a relatively small group of people that focuses especially on techniques and skills in a particular field.

The myCPE virtual events are designed to impart education around a specific theme or subject from a basic to an advanced level, which is why we do not recommend you to leave the event in between. However, if you had to leave the event because of some unforeseen circumstances, you would be granted the credits for the sessions that you attended completely and wherein you answered all the polling questions.

The recording of the event can be made available to you, on request. You can reach out to us at support@my-cpe.com or can also let us know through live chat support if you need a recording for this event. However, the recording shall not be available for Continuing Education Credits.

You can cancel your registration for a premium conference/workshop at any time before the start of the event. Upon successful cancellation the entire amount shall be credited to your myCPE wallet within 24-48 working hours. The balance in your myCPE wallet can be used to register for premium live webinars, premium self-study webinars, myCPE package courses or any other future virtual conference/workshop.

All the upcoming virtual events can be seen listed under the ‘Virtual Events’ tab on the homepage of myCPE (www.my-cpe.com).

A unique joining link will be shared with you on your registered email ID once you have registered for a conference. You can join in using the unique link at the scheduled time of the event. Also, the events that you have registered for are visible in your myCPE account under ‘My Virtual Events’ section >> under the ‘Upcoming Virtual Events’ tab. CLICK HERE to login to your account.

myCPE recommends that you verify if your digital device is compatible with the ZOOM software prior to attending the live events on myCPE (www.my-cpe.com)

For every Session you attend in a Virtual Event, you need to remain logged into the session till the end and answer the polling questions asked during the event. Once you have fulfilled these two criteria, you shall receive an evaluation form in the next 24 hours. You will receive an email with the link to complete the evaluation form and it will also be available in your myCPE account under the 'My Virtual Events’ section, under the 'Pending Evaluation' tab. Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download.

Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download

During every conference the chat panel shall always be open. You can mention the issue faced by you in the chat panel and our moderator will take it up for resolution shortly. You can also reach out to our support team in the live chat support or at support@my-cpe.com

Yes, each live virtual conference/workshop shall be recorded and the recording of the same can be made available to on request. However, the recording shall not be eligible for continuing education credits.

If you’re a new user, you will have to sign-up at www.my-cpe.com to register for a virtual event. Click Here for a free sign up to myCPE. If you’re an existing user, you need to log in to your myCPE account.

Once you’re logged into your myCPE account, you can click on the ‘Virtual Event’ tab, scroll down to view the upcoming Virtual Events. There is a Register Button on each event detail page. Once you click on REGISTER, you will receive a prompt pop up that you have registered for the event. If it is a premium event then you will first be redirected to the payment page and after paying the amount you will receive a prompt pop up that you have registered for the event.

You can cancel your registration to any event from your myCPE account. Look under My Virtual Events >Upcoming Events. Simply click “Cancel Event” against the event that you do not wish to attend. If you cancel your registration for any paid event, the amount shall be credited in your myCPE wallet within 24-48 hours.