Program Objectives:

By the end of the program, participants will be able to:

* Determine the major differences in the accounting and reporting of several areas between International Standards and Generally Accepted Accounting Principles.
* Properly account for assets, liabilities, equity, revenues and expenses under both the 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 abreast of 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.

Program Fees:

Per participant - USD 3700
Frequent nomination - USD 3330
(including coffee breaks and a buffet lunch daily)
One extra free place for every 2 paid nominees on the same program and dates
Discount Plans, Refunds & Cancellations Policy

Meirc reserves the right to alter dates, content, venue and trainer with a reasonable notice time.

Program Outline:

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
* The Balance Sheet
* The Income Statement, and Comprehensive Income
* The Cash Flow Statement
* Statement of Changes in Owners Equity

Comparison of Current Assets

* Cash and Cash Equivalent
* Receivables
* Inventory

Comparison of Long Lived Assets

* Measurement: Historical Cost versus Revaluation Model
* Capitalizing Borrowing Costs
* Depreciation Concepts and Methods
* Subsequent Costs
* Impairment of Long-Lived Assets
* Investment Property
* Intangible Assets
* Investments

Comparison of Liabilities and Equities

* Contingencies
* Convertible Debt
* Preferred Stock

Other Topics

* Revenue Recognition
* Accounting Changes and Error Correction
* Discontinued Operations