Financial Reporting: Assets and Liabilities-U.S. GAAP vs IFRS 2024

Overview

A recent IFRS Foundation survey found that 167 jurisdictions now require IFRS Accounting Standards for all or most publicly listed companies, while 12 jurisdictions permit its use. With this global acceptance, and as more than 1,000 foreign companies report to the SEC using IFRS, learn how to read and understand the differences between US GAAP and IFRS financial reports. This course, the second in a three-course series, concentrates on the assets and liabilities as reported in the financial statements. Analyze US GAAP and IFRS financial reports and outline basic distinctions between the financial reports in the 3-course series. Excerpts from public company financial reports will be reviewed. Be sure to register for all three parts of this series: Financial Reporting: Presentation-U.S. GAAP vs. IFRS Financial Reporting: Assets and Liabilities-U.S. GAAP vs IFRS Financial Reporting: Miscellaneous Topics-U.S. GAAP vs IFRS

Course Instructor: Bobbe Barnes

Highlights

Inventories
PPE
Intangible assets
Investment property
Impairment of assets
Financial instruments
Provisions
Leases
Income taxes

Prerequisites

Attendees should be familiar with the content from the first course, Financial Reporting: Presentation.

Designed For

CPAs, auditors, consultants, and financial and managerial professionals.

Objectives

Identify similarities and differences between IFRS and U.S. GAAP reporting requirements for assets and liabilities
Inventories
PPE
Intangible assets
Investment property
Impairment of assets
Financial instruments
Provisions
Leases
Income taxes

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.