In 2002, IASB and FASB agreed to harmonize their agenda and work toward
reducing differences between IFRS and U.S. GAAP. FASB is working hard on
this goal as recent pronouncements of both the FASB and the IASB are
bringing the standards more in line with one another. In addition, the
SEC removed the reconciliation requirement for foreign issuers to
reconcile their financial statements from IFRS to U.S. GAAP and they
have continued reaffirm thier commitment to convergence. With the fast
pace of the convergence project, understanding the differences between
IFRS and U.S. GAAP is becoming more important for businesses of all
sizes. This course outlines some of the major differences between IFRS
and U.S. GAAP. The primary difference between this 4-hour course and the
8-hour version is that the 8-hour version contains more examples of the
differences between IFRS and U.S. GAAP, as well as hands-on examination
of four sets of financial statements and footnotes prepared under IFRS.