Self-Study
U.S. GAAP vs. IFRS – Major Differences That Impact Financial Reporting
Price range: $116.00 through $136.00
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Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
4 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course highlights key differences between U.S. GAAP and IFRS that affect financial reporting, covering topics like assets, investments, inventory, goodwill, revenue recognition, income taxes, business combinations, leases, and foreign currency. While it provides a solid introduction to these important areas, it only scratches the surface of the many nuances and complexities in each framework. Understanding these differences is important for anyone working with or comparing financial statements prepared under both sets of standards.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify key differences between U.S. GAAP and IFRS in financial reporting
- Recognize how asset accounting varies between the two frameworks
- Recall the treatment of good will under U.S. GAAP and IFRS
- Select the appropriate revenue recognition approach based on the applicable standard
- Differentiate inventory valuation methods under U.S. GAAP and IFRS
- Determine how leases are accounted for differently in each framework
- Distinguish between the treatment of income taxes under U.S. GAAP and IFRS
- Identify differences in accounting for business combinations and consolidation
- Recognize variations in foreign currency accounting between the two standards
Course Specifics
SS125446264
September 29, 2025
There are no prerequisites.
None
87
Compliance Information
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)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s Journal of Accountancy. Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple …
QAS Self-Study
