IFRS Conference: Today's Landscape...Tomorrow's Challenge

One day — 8 CPE Credits

Highlights:

• Update on the SEC International Financial Reporting Standards “Roadmap”

• FASB/IASB Convergence: Progress made and projects ongoing

• Major differences between U.S. GAAP and IFRS

• Major presentation and disclosure differences

• The Transition to IFRS: IFRS 1 First Time Adoption of International Financial Reporting Standards

• And much more!

AGENDA

8:00-8:30 am – Registration/Continental Breakfast

8:30-8:40 am – Welcome and Opening Comments

8:40-9:30 am – Looking into the Crystal Ball:  The Future of IFRS in the US and are We Ready?

• What has US history taught us?

• The “Roadmaps” and potential changes from the "new" SEC

• What are the obstacles to readiness and how will we overcome them?

9:30-10:00 am – Understand International Standard-Setting

• Learning the acronyms

  • IASB - the standard-setter

  • IFRIC – the interpretive body

  • Standards - IASs, IFRSs

• Differences in approaches with the US model

• Status of the Memorandum of Understanding between FASB and IASB

• The IASB’s agenda

10:00-10:15 am – Break

10:15-Noon – Major differences between US GAAP and IFRS, Part I

• Understanding the major differences in:

• Revenue recognition

• PP&E and impairment

• Employee benefits and share based payments

• Consolidation accounting

• Income taxes

• Financial instruments and hedging

• Presentation and disclosure

• And more

Noon-1:00 pm – Luncheon

1:00-2:00 pm – Other Reporting Issues

• International convergence in:

  • Capital raising and listing

  • Filing & disclosure (MD&A, etc.)

  • Auditing

• Communicating with others in your organization, such as legal, human resources, the audit committee…

• Comments from the Corporation Finance review process

2:00-3:00 pm – Major differences between US GAAP and IFRS, Part II

3:00-3:15 pm – Break

3:15-3:45 pm – Major differences between US GAAP and IFRS, Part III

3:45-5:00 pm – Adopting IFRS

• Navigating IFRS 1 - Historical background of First Time Adoption

• Timing of adoption

• Elections to be made

• Learning the pitfalls and how to avoid them

• Don’t forget – internal controls, etc.

5:00 pm – Adjournment

Learning Objective: To provide an understanding of differences between U.S. GAAP and International Financial Reporting Standards and the challenges of adoption.
Delivery Method: Group-Live.
Prerequisites/Advance Preparation: None.
Experience level: Overview.

BROCHURE

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CALENDAR

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