Accounting  |  Format: Flash

FASB vs. IFRS: Accounting Standards

Course Overview
While most accountants are committed to learning and applying the Generally Accepted Accounting Principles to their work, they are increasingly aware of the shortcomings that exist when you only work with U.S. GAAP. Fortunately for us, John Fleming, an acclaimed discussion leader for the Loscalzo Institute, has witnessed the near-convergence of accounting standards between the FASB and IFRS and can distinguish how they still differ.
Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Recognize the current status of convergence of U.S. GAAP and IFRS standards;
  • Identify the differences in accounting for leases and revenue under U.S. GAAP and IFRS;
  • Recognize the differences between U.S. GAAP and IFRS with respect to accounting for impairment, fair value, inventory costing and financial instruments; and
  • Identify the different disclosure requirements under U.S. GAAP and IFRS for accounting policy, capital management, defined benefit plans, uncertain tax positions and intangible costs.

    Catalog Number: 99SPK35
    CPE Credits: 1 Registry / 1 QAS
    Author: CPA Report
    Advanced Preparation:
    Work experience in financial reporting or accounting, or an introductory course in accounting.
    Course Level: Update
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Jan 04, 2019 / Jan 04, 2021