Financial Reporting Fundamentals 2024

Overview

Gain the knowledge to read and understand the differences between IFRS and US GAAP financial reports. A recent IFRS Foundation survey found that 167 jurisdictions now require the use of 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 are reporting to the SEC using IFRS, learn how to read and understand the differences between US GAAP and IFRS financial reports. Attendees will examine an IFRS financial report and a US GAAP financial report, outlining essential distinctions between the US GAAP and IFRS reports.

Highlights

• Financial statements, disclosures and presentations
• Review of two Annual Financial Reports (IFRS and U.S. GAAP)

Prerequisites

None

Designed For

CPAs, auditors, consultants, accountants and financial professionals.

Objectives

• Identify underlying concepts in preparing a financial report
• Observe similarities and differences between IFRS financial statement presentation and disclosure requirements and U.S. GAAP presentation and disclosure requirements
• Observe differences between U.S. GAAP and IFRS financial reporting with regard to assets and liabilities and other reporting issues, including revenue and leases

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.