The Impact of IFRS and Other Global Standards on Private Entities (17W693-13)
Description
By now it is common knowledge that U.S. issuers (or publicly-traded
entities) are in the process of possibly transitioning to International
Financial Reporting Standards (IFRS). The hope is that use of a single,
high-quality standard will eventually empower investors to make
better-informed investment decisions by enabling them to easily compare
financial statements worldwide. But, what about the ultimate impact on
nonissuers (or private entities) This course will explore all of the
global professional and regulatory standards currently impacting private
entities.
Learning Objectives
Upon completion of this course, participants will be able to discuss the
most important considerations and issues related to the impact of
converging to global professional and regulatory standards for U
S
private entities that desire to adopt the less complex IFRS for Private
Entities over full-blown IFRS
Major Topics
How did the need and desire for convergence to a single global set of
standards evolve
Opportunities and obstacles involved with
transitioning to IFRS
Is IFRS really less complex than U.S. GAAP, and
what are the critical differences
Differences in the two variations of
IFRS
IFRS standards and interpretations that are relevant for private
entities
How will these changes impact financial statement
presentation and disclosure for private entities
Transitioning from
U.S. GAAP to IFRS
What other global professional and regulatory
standards are also converging with U.S. standards (generally accepted
auditing standards, ethics and independence rules, etc.)
