International Standards for Financial Accounting Principles (IFRS) and GAAP Updates #252006

Course Details

This intensive five-day executive program is designed to equip professionals with a comprehensive understanding of the latest developments in International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). The course will delve into the key differences between the two frameworks, focusing on the most recent updates and their practical implications for financial reporting.

Upon completion of this program, participants will be able to:
• Master the fundamentals: Gain a solid understanding of the core principles and concepts underlying IFRS and GAAP.
• Stay updated on the latest developments: Keep abreast of the most recent changes and amendments to IFRS and GAAP.
• Analyze complex accounting issues: Apply critical thinking skills to solve complex accounting problems and make informed decisions.
• Enhance financial reporting skills: Improve the quality and accuracy of financial statements prepared under both IFRS and GAAP.
• Navigate the global landscape: Understand the impact of international accounting standards on cross-border transactions and global business operations.

This program is ideal for:
• Accountants and auditors: Professionals working in public accounting firms, corporations, and financial institutions.
• Financial analysts and investors: Individuals involved in financial analysis, investment banking, and asset management.
• CFOs and finance directors: Executives responsible for financial reporting and decision-making.
• Regulators and policymakers: Individuals working in regulatory bodies and government agencies.

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a binder containing a copy of the presentation
• slides and handouts
• Post-assessment

• Overview of IFRS and GAAP: Historical development and key differences
• Fundamental accounting concepts: Accrual accounting, revenue recognition, and expense recognition
• Financial statement presentation and disclosure requirements

• Classification and measurement of financial assets and liabilities
• Impairment of financial assets
• Hedge accounting: Principles and practical applications

• Revenue recognition under IFRS 15 and GAAP ASC 606
• Lease accounting under IFRS 16 and GAAP ASC 842

• Impairment of assets: Property, plant, and equipment, intangible assets, and goodwill
• Provisions, contingent liabilities, and contingent assets

• Emerging issues and recent developments in IFRS and GAAP
• Impact of technology on financial reporting
• Sustainability reporting and ESG considerations
• Case studies and practical exercises

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Course Details