Financial Reporting: Assets and Liabilities (U.S. GAAP vs. IFRS)
Thursday, September 12, 2019
The course, second in a three-course series, concentrates on financial statements prepared using IFRS vs. U.S. GAAP.
A recent IFRS Foundation survey found that 116 of 140 jurisdictions required IFRS for all or most companies. With this global acceptance, and as more than 500 foreign companies are reporting to the SEC using IFRS, you need to be able to read and understand the differences between IFRS and U.S. GAAP financial reports.
Analyze IFRS financial statements and outline basic distinctions between IFRS and U.S. GAAP reports in the series.
Identify similarities and differences between IFRS and U.S. GAAP reporting requirements for assets and liabilities:
- Income taxes
- Financial Instruments
- Impairment of assets
- Intangible assets
- Investment property
- Financial statements presentations of assets and liabilities (IAS 2,12, 16, 32, 36, 37, 38, 39, 40, IFRS 7, 9, 16 vs. U.S. GAAP)
- Overview of Annual Financial Reports (IFRS and U.S. GAAP).