Financial Reporting: Assets and Liabilities-U.S. GAAP vs IFRS

Description

A recent IFRS Foundation survey found that 144 of 160 profiled jurisdictions require the use of IFRS for all or most companies. With this global acceptance, and as more than 500 foreign companies are reporting to the SEC using IFRS, learn how to read and understand the differences between U.S. GAAP and IFRS financial reports. This course, the second in a three-course series, concentrates on the assets and liabilities as reported in the financial statements. Analyze U.S. GAAP and IFRS financial reports and outline basic distinctions between the financial reports in the 3-course series. Excerpts from public company financial reports will be reviewed.

Highlights

• Inventories
• PPE
• Intangible assets
• Investment property
• Impairment of assets
• Financial instruments
• Provisions
• Leases
• Income taxes

Objectives

• Name at least three deficiencies associated with traditional Excel-based reporting practices
• Distinguish between the roles of tools such as Power Query, Power Pivot, and Data Analysis Expressions in next-generation Excel-based reports
• Cite the steps for creating data queries and transformations using Power Query
• Identify the opportunities for managing Data Models in Power Pivot
• List the steps necessary for summarizing data from a Data Model using a PivotTable
• Specify examples of formatting options and tools that you can use to enhance the appearance of an Excel-based report

Designed For

CPAs, auditors, consultants, and financial and managerial professionals.