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International Versus U.S. Accounting: What in the World is the Difference?

Author/Moderator: Frederick Niswander, Ph.D., CPA and Teresa Conover, Ph.D., CPA
Publisher: AICPA
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are continuing to work diligently to bring financial reporting standards more in line with one another. In addition, the SEC continues to express its support of convergence. This course provides an introduction to International Financial Reporting Standards (IFRS) and discusses the similarities and key differences between IFRS and GAAP. Acquire the understanding you need as the acceptance of IFRS continues to grow.

Topics Discussed: 
  • Introduction to International Accounting
  • Introduction to Financial Statements Prepared in Accordance with IFRS
  • IFRS vs. GAAP for Specific Financial Statement Line Items
  • IFRS vs. GAAP for Accounting Changes, Discontinued Operations, Derivatives, and Hedging
  • IFRS vs. GAAP for Segment Reporting and Interim Financial Statements

Learning Objectives:
This course helps you to recognize the significant differences and similarities between U.S. GAAP and IFRS, evaluate financial statements prepared in accordance with IFRS, and discuss standardized reporting in an international environment.

Prerequisite: None.

Advanced Preparation: None.

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NASBA Field of Study: Accounting
Level: Basic
Recommended CPE Credit: 8

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