Self-Study
5
Basic
Accounting
None

Course Description

The International Financial Reporting Standards (IFRS) is the framework used by many publicly traded companies around the world today to report their financial results. With support from important constituencies, the SEC and the FASB have taken several steps toward a major transition from the accounting and reporting framework will be currently in place in the United States to IFRS.  In an effort to better understand how convergence will affect financial reporting in the United States, this course provides an overview, by accounting area, of similarities and differences between U.S. GAAP and IFRS.  It highlights differences most commonly found in current practice that may affect a converting entity's financial statements. It also provides an overview of significant completed convergence projects in the accounting standards.



Instructor

Delta Publishing

For many years, Delta Publishing has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.



Course Specifics

Accounting
Dec 23, 2019
None
SS1193494
119
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Learning Objectives

Chapter 1

After completing this section of the course, you will be able to:

•Recognize the benefits of IFRS standards to emerging economies 

•Cite the improvements made to the Conceptual Framework 

•Identify the major similarities and differences between U.S. GAAP and IFRS standards

Chapter 2

After completing this section of the course, you will be able to:

•Recognize that IFRS is principle-based

•Cite IFRS's definition of fair value 

•Identify that U.S.GAAP, IFRS makes no distinction between ordinary and extraordinary items.

Chapter 3

After completing this section of the course, you will be able to:

•Recognize that, LIFO is prohibited under IFRS

•Identify and understand, FIFO cost of goods sold & LIFO cost of goods sold.

•Understand the definition of a lease as a contract, according to the ASC 842 and IFRS. 

Chapter

After completing this section of the course, you will be able to:

•Recognize revenue the Revenue Recognition Model.

•Identify and understand a binding contract. 

•Recognize aspects of more than one class of cash flows.




Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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