IFRS 1- First-Time Adoption: Options and Exemptions - By Compliance Global Inc
This webinar will outline the procedure for implementation & examine the options and exemptions that companies need to carefully consider when adopting IFRS Standard 1, specifically issued to help companies with the transition from GAAP financial statements.
- (1888PressRelease) April 21, 2015 - Overview:Publicly Accountable Enterprises (PAE's) are expected to soon publish their first comparative financial statements (including quarterly statements) based on International Financial Reporting Standards (IFRS) accounting. They will need to implement the new standards well in advance of that date using IFRS Standard # 1. IFRS Standard # 1 was specifically issued to help companies with the transition from GAAP financial statements. In addition, a reconciling financial statement which bridges the gap between the two will be required. In effect, IFRS requires that the PAE's be able explain the differences between IFRS and GAAP.
Why Should You Attend:
This webinar will outline the procedure for implementation and examine the many options and exemptions that companies need to carefully consider when implementing International Financial Reporting Standards.
Areas Covered in the Session:
Topics covered will include:
• Sizing up the scope and impacts of implementation: questions you need to ask
• Planning the approach: accounting procedures and decision criteria
• Mixed asset valuation model: revaluation and historical cost
• Setting up the opening IFRS balance sheet
• Navigate the exceptions and options allowed by IFRS #1
• Understand the GAAP/IFRS reconciliation requirement
• Simplifying transitional provisions
• Know the disclosure requirements
• Review financial statement presentation
Learning Objectives:
Know how to build the initial IFRS Balance Sheet by adding, removing, and revaluating assets and liabilities, prepare the GAAP-IFRS transitional statement, and write the appropriate Notes to comply with IFRS #1.
Who Will Benefit:
• Accountants
• Financial Managers
• Financial Controllers
• Company Executives
• Anyone involved in the GAAP-IFRS transition process
For more information, please visit https://www.complianceglobal.us/product/700083
Email: referrals ( @ ) complianceglobal dot us
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515
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