Introduction to IFRS: What U.S. Accountants & CPAs Should Know Now Price: $19.95

September 15, 2008 2:00 p.m. CST [Register]

September 24, 2008 10:00 a.m. CST [Register]

The time for U.S. accountants & CPAs to familiarize themselves with International Financial Reporting Standards (IFRS) has arrived. This session explains the key characteristics of IFRS and debunks several myths about IFRS that are prevalent in the United States. Additionally, each participant will have the opportunity to develop a personal learning plan to serve as a guide through the professional education challenges that the convergence of IFRS and U.S. GAAP will impose on CPAs, CMAs, and other accounting professionals.

IFRS Series Session List:

PURCHASE THE SERIES

• Overview of International Financial Reporting Standards
• IFRS and U.S. GAAP: A Converged Future
• IFRS Major Asset Classes
• IFRS Other Balance Sheet Items
• IFRS Business Combinations, Inter-Company Investments, and Segment Reporting
• IFRS Financial Performance
• IFRS for Private Entities
• First Time Adoption of IFRS

Overview of International Financial Reporting Standards (IFRS) [Session List] Price: $79.95

October 7, 2008 9:00 a.m. CST [Register]

October 16, 2008 12:00 p.m. CST [Register]

This session introduces U.S. accounting and finance professionals to International Financial Reporting Standards (IFRS). It covers current structural and organizational differences between IFRS and U.S. GAAP as well as key differences in financial statements prepared under the two sets of standards.

IFRS and U.S. GAAP: A Converged Future [Session List] Price: $79.95

October 9, 9:00 a.m. CST [Register]

October 23, 2008 12:00 p.m. CST [Register]

This session explains the origin, nature, scope, and impact of the convergence of IFRS and U.S. GAAP. It also covers (1) why future IFRS are likely to be substantially improved as well as converged with U.S. GAAP; and (2) how the IASB-FASB Joint Conceptual Framework Project is facilitating the convergence of standards.

IFRS: Major Asset Classes [Session List] Price: $79.95

October 14, 2008 9:00 a.m. CST [Register]

October 30, 2008 12:00 p.m. CST [Register]

This session focuses on accounting for several major asset classes, including Inventory; Property, Plant, and Equipment; and Intangibles. By studying real-world financial statements prepared under IFRS, participants increase their understanding of how IFRS differ from U.S. GAAP in:

• Inventory cost flow assumptions (e.g., FIFO, LIFO)
• Measurement attributes for Property, Plant, and Equipment (e.g., historical cost, fair value)
• Treatment of Research & Development costs (capitalizing vs.expensing)
• Amonrtization of intangible assets (e.g., Goodwill, intellectual property)
• Recognizing and measuring impairment

IFRS: Other Balance Sheet Items [Session List] Price: $79.95

October 16, 2008 9:00 a.m. CST [Register]

November 4, 2008 12:00 p.m. CST [Register]

Existing IFRS for certain balance sheet items have significant potential for improvement as standards converge. Such balance sheet items include Leases; Pensions and Other Postretirement Benefit Obligations; Deferred Income Tax Effects; and Shareholders' Equity. In this Module, participants engage in hands-on exercises to learn how IFRS for these balance sheet items currently differ from U.S. GAAP and are likely to improve with convergence.

IFRS: Business Combinations, Inter-Company Investments, and Segment Reporting

[Session List] Price: $79.95

October 21, 2008 9:00 a.m. CST [Register]

November 6, 2008 12:00 p.m. CST [Register]

Mergers and acquisitions pose special accounting and reporting challenges, as do consolidation and segment reporting within the enterprise. Current differences between IFRS and U.S. GAAP in accounting for business combinations, parent-subsidiary consolidations, translating subsidiaries' financial statements, and segment reporting are examined in this session.

IFRS: Financial Performance [Session List] Price: $79.95

October 23, 2008 9:00 a.m. CST [Register]

November 11, 2008 12:00 p.m. CST [Register]

Of primary importance to most users of financial statements are measures of financial performance. This session illustrates current differences and convergence trends in revenue recognition, earnings, and cash flow under IFRS through a series of real-world examples.

IFRS for Private Entities [Session List] Price: $79.95

October 28, 2008 9:00 a.m. CST [Register]

November 13, 2008 12:00 p.m. CST [Register]

Private U.S. companies are able to decide for themselves whether and when they want to switch to global standards. In parallel with its efforts to develop and maintain IFRS for use by for-profit enterprises of all kinds, the IASB has been working to develop a shorter, simpler version of IFRS specifically for use by private entities. This session will examine the "IFRS for Private Entities" as a compact set of high-quality, country-neutral financial reporting standards designed around the needs and capabilities of private companies, emphasizing the differences between it and full IFRS.

First Time Adoption of IFRS [Session List] Price: $79.95

October 30, 2008 9:00 a.m. CST [Register]

November 18, 2008 12:00 p.m. CST [Register]

Many challenges await U.S. companies that choose to switch from current U.S. GAAP to current IFRS. This session explores those challenges and effective strategies for managing them. Topics covered in this session include implementation details of IFRS 1; communications with external stakeholders regarding the transition from U.S. GAAP to IFRS; and lessons learned from the experience of European and other IFRS adopters.