U.S. GAAP vs. IFRS – Rev Rec & Business Combinations

2 Credits: Accounting


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U.S. GAAP vs. IFRS – Rev Rec & Business Combinations

Course Level
CPE Credits

2 Credits: Accounting

Course Description

This course provides an overview of the similarities and key differences between the revenue recognition and business combination standards issued by the FASB and the IASB. While these standards are similar in many material respects, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.

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Learning Objectives

Upon completion of this course, you will be able to:
• List the key steps in the revenue recognition model
• Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition
• Identify some of the key differences between ASC Topic 606 and IFRS 15
• List the key steps in the acquisition method for business combinations
• Recognize the applicable U.S. GAAP and IFRS standard with respect to business combinations
• Identify some of the key differences between ASC Topic 805 and IFRS 3

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Course Specifics

Course ID
Revision Date
February 29, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

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)

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 …