By the end of the program, participants will be able to:
- Determine the major differences in the accounting and reporting between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).
- Properly account for assets, liabilities, equity, revenues and expenses under both IFRS and GAAP.
- Apply the different accounting methods allowed under IFRS and GAAP to multiple situations.
- Recognize the need for standardized reporting and accounting in the twenty first century.
- Get up-to-date on the convergence efforts of the global accounting standards.
This program is designed for:
Staff accountants, senior accountants, chief accountants, accounting managers, controllers, internal auditors, and other professionals in the accounting and finance functions.
This program is worth 25 NASBA CPEs.
Locations & Dates:
09 - 13 Sep 2012
Al Bustan Rotana Dubai
Meirc reserves the right to alter dates, content, venue and trainer with a reasonable notice time.
One extra free place for every 2 paid nominees
Delivery Type: Group-Live
The Need for a Single Set of Global Accounting Standards
- Overview of the Creation of IASB and FASB and their Role in Setting Accounting Standards
- The Latest Update on the Convergence Efforts
- Future Milestones on the Road to Convergence
- Comparison of Conceptual Framework
- IFRS versus GAAP: Principles-Based versus Rules-Based
Fair Value Measurement and Related Issues
- Several Measurements of Fair Value
- Recent Developments in Fair Value Measurement
The Key Financial Statements
- Presentation, Classification, Format and Requirements
- Statement of Financial Position
- Statement of Income, and the Comprehensive Income
- Statement of Cash Flows
- Statement of Changes in Owners' Equity
Comparison of Current Assets
- Cash and Cash Equivalent
- Receivables and Factoring of Receivables
- Inventory Costing and Valuation Approaches
Comparison of Long Lived Assets
- Measurement: Historical Cost versus Revaluation Model
- Accounting for Subsequent Costs
- Capitalizing Borrowing Costs
- Decommissioning Costs and Asset Retirement Obligation
- Depreciation Concepts and Methods
- Impairment of Long Lived Assets
- Investment Property under IFRS
- Recognizing Intangible Assets
Comparison of Financial Instruments
- Classification of Equity Investments
- Classification of Debt Investments
- Measurement at Fair Value
- The Amortized Cost Valuation
- The Equity Method
Comparison of the Financing Transactions
- Accounting for Capital or Finance Leases
- Accounting for Contingent Liabilities
- Convertible Debt and Preferred Stocks
- Accounting Changes and Error Correction
- Assets Held for Sale and Discontinued Operations