Courses

IFRS Training Team

Courses

On Site Training

Our short, focused sessions are designed to provide the best training with the least disruption to your company's activities. We can arrange a schedule to suit your needs, and work with you to modify session content for your industry, where applicable. Training on site saves travel time, and provides flexibility. Depending on how many people require training, this option can also result in significant cost savings over open enrollment courses.

Cost: Contact us for a quote

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IFRS Theme Park

What is the easiest way for a US CPA to understand IFRS?

I need some examples of how these differences look in practice.

I've looked at comparison tables but it just seems like hundreds of new rules to learn.

I need to understand the overall logic behind IFRS

This two hour course concentrates on explaining the themes which recur throughout IFRS. It provides a bridge between US GAAP and IFRS thinking. Comprehensive company based examples are used to illustrate the themes.

Topics covered:

IFRS hierarchy and terminology - comparison with US
IASB's Framework for the Preparation and Presentation of Financial Statements
IFRS Key Themes

More Similar Than Different
Balance Sheet Reigns - the three D's
Definitions
Disaggregation
Discounting
What Goes Down Can Come Up
Bare All

Includes comprehensive examples covering liabilities, impairments and revenue recognition.

See Anne-Marie's article on this unique Themes approach in December 2010 CPA Journal.

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IFRS in the US

I just need to know where things stand right now with IFRS adoption

I need a general understanding of what will change under IFRS

What are my transition choices in the first year?

What will IFRS adoption cost?

This popular one hour seminar provides an up to date overview of the status of the SEC's harmonization project, an outline of how the IFRS approach differs from that of US GAAP, and some implementation considerations, including the choices available under IFRS 1 on transition. Company examples used in this seminar include:

Mobil
Ericsson
Astra Zeneca
Alcatel
BSkyB

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IFRS / US GAAP Differences

I need an overview of the differences between IFRS and US GAAP

I need some examples of how these differences look in practice

I want to focus on differences that are likely to remain after the US finishes convergence work.

I need start working on what my financial statements will look like under IFRS

This three hour course provides an overview of the differences between US GAAP and IFRS. We review the status of the IASB and FASB convergence projects, and focus on those areas where differences are likely to remain after convergence efforts are completed. Company examples are used throughout

Topics covered:

Convergence project update
Presentation and disclosure
Consolidations, including joint ventures
Inventory
Impairments
Property, plant and equipment
Provisions and contingencies
Research and development
Construction contracts
Revenue recognition
Leases

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IFRS Basics with US GAAP comparison

I need to know enough detail to start assessing the impact of IFRS adoption on our company

I need to get up to speed on IFRS basics so I can evaluate our new projects

I need to be able to review our subsidiaries' IFRS statements

This comprehensive 12 module course covers the basic requirements of IFRS, highlighting where those requirements differ from US GAAP. The course is presented in one or two hour modules to allow participants to attend those areas of most relevance to them and to maximize the retention of information. The course features extensive examples and focuses on answering participant questions.

Session 1 – 2hr

Conceptual Framework and financial statement presentation

FASB/IFRS convergence project status

Measurement basis

Hierarchy of guidance

Comparative requirements

Classification on income statement

Extraordinary items

Classification of short/long term debt

Presentation of cash flow statement

Subsequent events

Session 2 – 1hr

Revenue recognition

IASB/FASB joint revenue project

Construction contracts

Services provided

Sale of goods

R&D expenses

Session 3 – 2hr

Business Combinations

Revised IFRS 3 and IAS 27
Acquisition method of accounting
Classification of combinations
Acquisition costs
Contingent consideration
Step and partial acquisitions
Non controlling interests
Acquisition date
Restructuring charges
In process R+D acquired

Session 4 – 2hr

Impairments including goodwill

Indicators
Determining impairments

Value in use
Fair value less costs to sell
Cash generating units and goodwill

Measurement calculation for fixed assets, goodwill, intangibles
Reversal of impairment losses

Session 5 – 2hr

PPE and Intangibles

Component approach

Revaluation of class of asset

Investment Properties

Borrowing Costs

Overhaul expenses

Development Costs

Advertising costs

Session 6 – 2hr

Provisions & Contingencies and Leases

Restructuring costs
Onerous contracts
Decommissioning costs
Taxes
Product warranties
Sutomer incentives
Contingent liabilites
Financial guarantees
Leases (tbd)

Session 7 – 2hr

Consolidated financial statements

Consolidation model

Reporting dates

Special Purpose Entities

Non Controlling interests

Associates and the equity method

Joint Ventures

Session 8 – 2hr

Share based payments and other employee benefits

Non employee share transactions

Modification of vesting terms

Expense recognition

Actuarial method and valuation

Corridor approach

Treatment of deferred amounts for inactive employees

Prior service costs

Balance sheet asset or liability

Session 9 – 1hr

Income Taxes

Tas Basis
Measurement and recognition
Classification and presentation
Interaction of businees combinations and income taxes
Uncertain tax positions
Convergence efforts

Session 10 – 2hr

Financial Instruments – recognition and measurement

TBD

Session 11 – 2hr

IFRS1 – First time adoption of IFRS

Transition Date
First Reporting date
Accounting policies
Exemptions and exceptions including:
Business combinations
PPE
Employee Benefits
Financial Instruments
Foreign currency differences
Deisclosures required
Periods presented

Session 12 – 1hr

IFRS Conversion – Getting the board on board

Critical success factors for IFRS implementation

Organization wide efficiencies

Global competitors

Cost of Capital

Executive Compensation arrangements

Acquisition deal planning

Communication with investors and the market

Please refer to our terms and conditions

Session 1 – 2hr	Conceptual Framework and financial statement presentation	FASB/IFRS convergence project status Measurement basis Hierarchy of guidance Comparative requirements Classification on income statement Extraordinary items Classification of short/long term debt Presentation of cash flow statement Subsequent events
Session 2 – 1hr	Revenue recognition	IASB/FASB joint revenue project Construction contracts Services provided Sale of goods R&D expenses
Session 3 – 2hr	Business Combinations	Revised IFRS 3 and IAS 27 Acquisition method of accounting Classification of combinations Acquisition costs Contingent consideration Step and partial acquisitions Non controlling interests Acquisition date Restructuring charges In process R+D acquired
Session 4 – 2hr	Impairments including goodwill	Indicators Determining impairments Value in use Fair value less costs to sell Cash generating units and goodwill Measurement calculation for fixed assets, goodwill, intangibles Reversal of impairment losses
Session 5 – 2hr	PPE and Intangibles	Component approach Revaluation of class of asset Investment Properties Borrowing Costs Overhaul expenses Development Costs Advertising costs
Session 6 – 2hr	Provisions & Contingencies and Leases	Restructuring costs Onerous contracts Decommissioning costs Taxes Product warranties Sutomer incentives Contingent liabilites Financial guarantees Leases (tbd)
Session 7 – 2hr	Consolidated financial statements	Consolidation model Reporting dates Special Purpose Entities Non Controlling interests Associates and the equity method Joint Ventures
Session 8 – 2hr	Share based payments and other employee benefits	Non employee share transactions Modification of vesting terms Expense recognition Actuarial method and valuation Corridor approach Treatment of deferred amounts for inactive employees Prior service costs Balance sheet asset or liability
Session 9 – 1hr	Income Taxes	Tas Basis Measurement and recognition Classification and presentation Interaction of businees combinations and income taxes Uncertain tax positions Convergence efforts
Session 10 – 2hr	Financial Instruments – recognition and measurement	TBD
Session 11 – 2hr	IFRS1 – First time adoption of IFRS	Transition Date First Reporting date Accounting policies Exemptions and exceptions including: Business combinations PPE Employee Benefits Financial Instruments Foreign currency differences Deisclosures required Periods presented
Session 12 – 1hr	IFRS Conversion – Getting the board on board	Critical success factors for IFRS implementation Organization wide efficiencies Global competitors Cost of Capital Executive Compensation arrangements Acquisition deal planning Communication with investors and the market