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2 CPE

Surgent's U.S. GAAP vs. IFRS - Rev Rec & Business Combinations

This is a text-based course

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2 CPE

This is a text-based course. To receive credit, you are required to review all content and achieve a minimum score of 70% on the final exam.

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.

Learning 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

Major Topics

  • 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

CPE Credits Available

2 CPE
2
Accounting

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

None

Advanced Preparation

None

Intended Audience

Accounting professionals

Provider

Surgent CPE

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