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Accounting differences between FRS and US GAAP

  

About this Course

This programme aims to provide an overview on the key differences between FRS and US GAAP. The programme aims to illustrate the impact of the different accounting rules on the financial statements of the companies. Additionally the programme provides an inside on the current roadmap of IFRS in the US (acceptance by SEC) and will highlight the latest exposure drafts and joint projects of the IASB and FASB.

Programme Outline 

  • Overview of IFRS / US GAAP Differences

              - Conceptual Framework

              - Financial Statements

              - Segment disclosures

              - Interim reporting

              - Discontinued operations

  • Impact of accounting differences in practise

              - Equity items

              - Assets

                    - Inventories

                    - Property, plant and equipment

                    - Borrowing costs

                    - Intangible assets

                    - Investment property

                    - testing

              - Liabilities

                    - Employee benefits, including pensions

                    - Provisions and contingencies

                    - Leases

                    - Deferred taxes

              - Revenue Recognition

  • Impact on Business Combinations, Consolidations & Mergers

              - Business combinations, including a recap of changes resulting from the new standard

              - Consolidations and accounting for NCI

              - Common control transactions

  • Convergence Issues

              - Prospects and timetable for IFRS/US GAAP convergence

              - Short term convergence topics

              - IASB and FASB joint projects

Intended For

An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements and also for those who wants to understand the key differences between FRS and US GAAP. Other users of financial information will also find the programme beneficial.

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