In this IFRS webinar learn how to implement step by step the International Financial Reporting Standards.
Why Should You Attend:
U.S. Publicly Accountable Enterprises (PAE’s) must publish their first comparative financial statements (including quarterly statements) after January 1, 2015, based on International Financial Reporting Standards (IFRS). They will need to implement the new standards well in advance of that date using IFRS Standard # 1. But where do you start?
IFRS Standard # 1 was specifically issued to help companies with the transition from GAAP. In addition, a reconciling financial statement which bridges the gap between the two will be required. In effect, IFRS requires that the PAE’s be able explain the differences between IFRS and GAAP.
This NASBA certified IFRS webinar will outline the step-by-step procedure for implementation and examine the many factors that companies need to carefully consider when implementing International Financial Reporting Standards.
Accreditation - NASBA
CPE Credits - 1 CPE credit
Program level – Basic/Intermediate
Program prerequisites – NONE
Advance preparation – NONE
Instructional Method: Group – Live
Learning Objectives:
- Scope and applicability of Standard #1.
- Sizing up the impacts of implementation: questions you need to ask.
- Planning the approach: accounting policies and decision criteria.
- Mixed asset valuation model: revaluation and historical cost.
- Setting up the opening IFRS balance sheet.
- Exceptions allowed by Standard #1.
- GAAP/IFRS reconciliation requirement.
- Transitional provisions.
- Disclosure requirements.
Who Will Benefit:
The following individuals or disciplines will benefit from attending this Webinar:
- Senior executives of Publicly Accountable Enterprises
- Finance, Accounting Unit Vice Presidents, Directors and Managers
- Business and Operations Unit Vice Presidents, Directors and Managers
- Internal auditors
- Consultants
- External Auditors
Instructor Profile:
Mike Morley, is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. Mike is a recognized authority in the field of finance with more than 25 years experience.
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.
