COURSE DESCRIPTION

This course provides important insights into accounting and reporting issues under US GAAP and IFRS. If your company is preparing for IFRS adoption or has subsidiaries reporting under IFRS, this is a “must-take” course. In this course, transitional guidance under IFRS 1 will be covered extensively. Accounting standard differences between US GAAP and IFRS will also be highlighted through the use of practical examples. Finally, this class will provide up-to-date information on the SEC Roadmap for adopting IFRS.

LEARNING OBJECTIVES

• Understand first-year reporting issues under IFRS
• Learn how U.S. GAAP and IFRS are different
• Obtain a basic knowledge of the reporting requirements for business entities under IFRS
• Learn how specific accounting standards under IFRS may be applied

MAJOR TOPICS

• Detailed analysis and discussion of transitional guidance under IFRS 1
• Mandatory and optional transition exceptions
• Reporting issues in the first year after adoption (presentation and disclosure)
• A review of the major differences between U.S. GAAP and IFRS
• Detailed discussion of specific accounting topics most commonly encountered including asset impairments,
   financial instruments, revenue recognition, and income taxes
• Discussion of how contractual obligations could be affected under IFRS

DESIGNED FOR

Accountants with financial reporting responsibilities in companies with multinational operations and auditors

PREREQUISITE

None

ADVANCED PREPARATION

None

The Center for Corporate Reporting & Governance at California State University, Fullerton 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.