MYCPE ONE

Conversion of Financial Statements from GAAP to IFRS

Shape the future of financial reporting

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Conference 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.

Completed

Continuing Education Credits

The sessions of the conference qualifies for

Qualification Credits Subject Area
CPA (US) 4 Accounting
Accountant/Bookkeeper/Tax Professionals 4 All
CWS 4 All
CFIRS 4 All

Sessions

Aug 17th, 2021

Speakers:
Speaker Name
Michel Morley

Presenter
MYCPE ONE

  • 4.2
  • rating
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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.

Qualifies For

License details Credits Status
Accountant/Bookkeeper/Tax Professionals 2 General Credit Eligible
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Certified Fiduciary and Investment Risk Specialist (CFIRS) 2 CE Eligible
Certified Wealth Strategist (CWS) 2 CE Eligible

Other Details

Subject Area

-

Course Level

Basic

Instuctional Method

Group Internet Based

Pre-requisites

N/A

Advance Preparation

-

Speakers:
Speaker Name
Michel Morley

Presenter
MYCPE ONE

  • 4.2
  • rating
  • rating
  • rating
  • rating
  • rating

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.

Qualifies For

License details Credits Status
Accountant/Bookkeeper/Tax Professionals 2 General Credit Eligible
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Certified Fiduciary and Investment Risk Specialist (CFIRS) 2 CE Eligible
Certified Wealth Strategist (CWS) 2 CE Eligible

Other Details

Subject Area

-

Course Level

Basic

Instuctional Method

Group Internet Based

Pre-requisites

-

Advance Preparation

-

Session Speakers

Elevate Your Career with Michel Morley's CPE Courses at myCPE
Michel Morley

Presenter
MYCPE ONE

Aug 17th, 2021

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Frequently Asked Questions

Virtual conference with MYCPE ONE 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.

MYCPE ONE 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.

The MYCPE ONE 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.


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



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