To Access This Course:
Whether a financial statement preparer or user is more familiar with International Financial Reporting Standards (IFRS) or U.S. Generally Accepted Accounting Principles (GAAP), it is important to be familiar with the major differences between the two financial reporting frameworks. This course highlights and discusses some of the more significant differences between the standards to help you more fluidly move between them.
Learning Objectives
- Explore differences in the design and structure of International Financial Reporting Standards (IFRS) vs. U.S. Generally Accepted Accounting Principles (GAAP)
- Discover significant differences in financial statement presentation and disclosure principles, including:
- Periods required to be reported
- Interim financial reporting
- Debt classification, and more.
- Recognize significant differences in initial recognition and subsequent measurement standards, including:
- Consolidation
- Equity method investments
- Business combinations
- Financial instruments
- Inventory
- Leases
- Revenue recognition
- Share-based payments
- Income taxes
- Employee benefits
- Provision for contingencies, and more
Last updated/reviewed: November 19, 2019
13 Reviews (53 ratings)Reviews
Anonymous
(Consultant)
The presentation was hard to follow sometimes because it is very static and generalized that its was hard to understand what the differences are between these two set of guidance. It would be helpful if there were some examples to visually demonstrate how they differ rather than relying on the generic definitions provided by these two accounting bodies
Anonymous
(Project Manager)
This course provides a great highlevel overview of the differences between IFRS and GAAP. This is not all encompassing, but it points out the main differences, and is a great introductory course about the foundations of IFRS and GAAP.
Cheryl Witt
(Vice President at Deutsche Bank Securities Inc)
A good overview, but presumes knowledge of consolidation accounting, lease accounting, intangible assets, so a brush up course in GAAP would be helpful first before taking this course to give it more meaning.
Chris Hole
(Director of Internal Audit at Supreme Industries)
A fairly broad but concise presentation of differences between GAAP and IFRS. This is fairly high level material which the average corporate accountant or auditor probably has little exposure to.
Anonymous
(Finance Director)
This course is the perfect length, scope and amount of detail. It is understandable and leaves the viewer understanding the basics and more regarding the differences between IFRS and US GAAP.
Monica Paing
(Controller at Platinum Storage Group, Inc.)
Great overview of main differences between IFRS and US GAAP. This is not intended to be an in depth review but it gives a great intro to the concepts.
Anonymous
(Technical Accounting Manager)
This course was ok. I wish it skipped some of the consolidation and employee benefit topics as those are not relevant to all companies.
Anonymous
()
Informative course that can be used and referenced in the future. it was helpful to see the differences in the two types of reporting.
Anonymous
(Consultant)
Good basic description of differences for a preliminary understanding. Quiz follows slides easily for reference, much appreciated.
Debra Salisbury
(controller at New Century Health)
This course contained a lot of information. Perhaps more charts instead of bullet points would have been helpful.
Anonymous
(Manager)
Overall the course was very informative. I was distracted in the later sections by the microphone bumping.
Sualeha Khan
(Consultant at DLC Group)
Love the presentor but would like more practical examples as there is a lot of material covered here.
Anonymous
(Senior Accountant)
It was a good review of major differences between the two principles. More examples would be helpful.
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .