QAS Self-Study
Basic
CPE Credits
5 Credits: Accounting
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.
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.
Course Specifics
|
Course ID 1193494 |
Revision Date December 23, 2019 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
For many years, Delta CPE LLC 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.
A Guide to IFRS & Comparison with GAAP
$145.00 – $175.00
QAS Self-Study
Basic
CPE Credits
5 Credits: Accounting
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.
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.
Course Specifics
|
Course ID 1193494 |
Revision Date December 23, 2019 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
For many years, Delta CPE LLC 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.
A Guide to IFRS & Comparison with GAAP
$145.00 – $175.00