Description
Gain an understanding of the key differences between IFRS and USGAAP and walk through the key considerations when adopting IFRS.
International Financial Reporting Standards (IFRS) is the accounting framework accepted in over 168 countries around the world. For US based entities applying IFRS for the first time and on an ongoing basis, this can be challenging given the differences between IFRS accounting principles generally accepted in the United States (USGAAP). This presentation will help attendees understand the key differences between IFRS and USGAAP and walk through the key considerations when adopting IFRS for the first time. In addition, the presentation will take some time to consider the upcoming changes to IFRS, in particular the new standard IFRS 18 Presentation and Disclosure in Financial Statements, which will lead to additional differences between the IFRS and USGAAP, when it becomes effective.
Date: 2024-06-27 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to describe timely IFRS guidance, and its impact on global accounting and financial reporting and how IFRS compares with the equivalent guidance included in US Generally Accepted Accounting Practice.
* You will be able to discuss updates to IFRS 18 and how it supersedes IAS 1.
* You will be able to explain Be able to explain the approach to first time adoption of IFRS.
* You will be able to identify Key differences between the IFRS and US GAAP.