IFRS Update and Review of Complex Topics

Whether the SEC will allow or require U.S. public companies to use IFRS is still unresolved. While the SEC deliberates, FASB and IASB continue to work together to develop high-quality, compatible accounting standards for domestic and crossborder financial reporting. While the goal of both organizations is to issue wordfor-word converged accounting standards, some significant differences still exist. Learn to understand the differences and implement IFRS when working with crossborder financial reporting. This course provides an in-depth examination of some of the most economically significant international accounting topics: revenue recognition, business combinations and impairments. The last part of the course provides an update on the issues and challenges of major current IASB projects.

OBJECTIVES
Clearly understand IFRS accounting for the following:

• Revenue recognition and proprosed changes
• Business combinations
• Impairments
• Major current IASB projects including exposure drafts

Prerequisite: An understanding of the conceptual differences between IFRS and U.S. GAAP - IUSA and IFRS (see pages AA-40 and AA-37 respectively) meet the prerequisite.

Advanced Preparation: None.