IFRS Basics (2 days) (294001)

REGISTRATION STATUS: Online registrations are closed for this event. We can take your registration over the phone at 800-782-2036.

Date:	Tuesday, December 18, 2012 - Wednesday, December 19, 2012
Time:	9:00am - 6:00 pm (Registration at 8:30 am)
Facility:	MACPA Towson Center, Towson
CPE Credit:	16 Accounting
Course Type:	Seminars
Provider:	IASeminars Inc.
Instructor:	Susan Thetford
Field of Study:	Accounting
Level of Knowledge:	Overview
Fees:	$2,070 MACPA Members, $2,300 Non-Members
Reciprocal Discount	($230)

* * * IMPORTANT INFORMATION ABOUT THIS EVENT * * *
Please enter the promotional code of "MACPA10" to receive a 10% discount off your registration fee.

Description:

International Financial Reporting Standards (IFRSs) are the world’s most widely applied accounting standards. Approximately 120 countries now require or permit the use of IFRS. Over 7,000 public companies in the European Union have complied with IFRSs since 2005. Argentina, Brazil, China, Canada, Japan, India, Mexico and the Republic of Korea are either adopting IFRSs or have decided to converge their national standards with IFRSs. The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) are committed to a systematic program of improving and converging their rules. In 2008 the US Securities and Exchange Commission (SEC) abolished the requirement for foreign registrants to reconcile their financial statements to US GAAP if they file under IFRS. In February 2010 the SEC confirmed its support for a single set of global accounting standards and nominated IFRS as best placed to fulfill that role. It instituted a ‘Work Plan’ that will lead to a decision about mandatory application of IFRS for US domestic registrants. This two-day overview is designed to guide you step by step through important IFRS technical issues. We explain the principles clearly and simply. Our specialist instructors also help delegates with the practicalities of implementation.

Objectives:

Explain how the recognition and measurement principles of the IASB’s Framework apply within each accounting standard

Apply the requirements of the standards to prepare IFRS compliant financial statements

Identify an appropriate accounting policy for a given accounting issue and suggest necessary disclosures

List the major standards that require or permit the use of fair value measurement, identify how fair value is measured and specify where the fair value changes are recognized

Differentiate between the requirements of current IFRSs and proposed changes for the future, including prospects for global convergence of major national accounting standards