International Financial Reporting Standards (IFRS) is the framework used by many publicly traded companies around the world today to report their financial results. With support from important constituencies, the SEC and the FASB have taken several steps toward what will be a major transition from accounting and reporting framework currently in place in the United States to IFRS. In an effort to better understand how convergence will affect financial reporting in the United States, depending on the IFRS implementation action taken by the SEC, this course examines some of the material differences that currently exist between U.S. GAAP and IFRS.

Learning Objectives:
I. Recognize key differences between IFRS and GAAP affecting the financial statements.
II. Recognize the objectives of the IASB’s conceptual framework project.

Instructional Method: Self Study
Review Date: 05/27/2016
Required Components: Written Materials
CPE Final Exam Required Passage Grade: 70%
Please Note: This course must be completed within 1 year of date of receipt of this course for CPE Credit

Field of Study: Accounting
Level of Knowledge: Basic to Intermediate
Prerequisite: Basic Accounting
Advanced Preparation: None

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FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

A Guide to IFRS - 2016 (Text Based)

Overview

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