A recent IFRS Foundation survey found that 167 jurisdictions now require the use of IFRS Accounting Standards for all or most publicly listed companies, while 12 jurisdictions permit its use. With this global acceptance, and as more than 1,000 foreign companies are reporting to the SEC using IFRS, learn how to read and understand the differences between US GAAP and IFRS financial reports. This course. The last three-course series concentrates on the miscellaneous topics not covered in the first two courses, such as business combinations, consolidations, and revenue recognition, as reported in the financial statements. Excerpts from public company financial reports will be reviewed.
Learning Objectives
• Identify similarities and differences between U.S. GAAP and IFRS reporting requirements for miscellaneous topics
• Foreign currency
• Borrowing costs
• Related party disclosures
• Fair value
• Business combinations
• Consolidations including joint arrangements
• Revenue
Major Topics
• Foreign currency
• Borrowing costs
• Related party disclosures
• Fair value
• Business combinations
• Consolidations
• Joint arrangements
• Revenue
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