Self-Study

U.S. GAAP vs. IFRS - Rev Rec & Business Combinations Download

  • Tuesday, April 5, 2022 – Sunday, April 30, 2023

  • 2.00
    CREDITS
    Accounting

This course provides an overview of the similarities and key differences between the revenue recognition and business combination standards issued by the FASB and 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.

Objectives

  • 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

Highlights

  • Determining the acquisition date
  • Recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree
  • Acquisition of contingencies
  • Noncontrolling interests
  • Recognizing and measuring goodwill or gain from a bargain purchase
  • Measurement period adjustments
  • Performance obligations in the Contract
  • Noncash considerations
  • Presentation of sales taxes
  • Impairment reversal of capitalized contract costs
  • Interim disclosures

Additional Information

Designed For

Accounting professionals

Vendor

Surgent

Advanced Preparation

None

Credits

2.00 Accounting

Prerequisite

None

Course Number

2227503

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