Event Highlight
This intensive programme delivers a practical, side-by-side comparison of IFRS/SFRS(I) and US GAAP, moving beyond theory to illustrate the real-world impact of different accounting rules on financial statements. Participants will navigate key recognition and measurement differences—from inventory and leases to business combinations and financial instruments—while also gaining forward-looking insights into recent pronouncements and pending projects (including cryptocurrency and income statement presentation) that are either creating or eliminating divergence between the two frameworks.

Event Outline

• Overview of IFRS and US GAAP
• • IASB, IFRIC and their pronouncements
  • FASB, EITF, AICPA, SEC and their pronouncements
  • Principle-based vs rule-based
• Financial Statement Presentation
• • Statement of Comprehensive Income
  • Statement of Financial Position
  • Statement of Cash Flows
  • Statement of Changes in Equity
• Key differences in IFRS and US GAAP recognition and measurement including:
• • Inventory
  • Property, Plant and Equipment
  • Investment Property
  • Lease Accounting
  • Intangible Assets
  • Impairment of Assets
  • Discontinued Operations
  • Income Taxes
  • Borrowing Costs
  • Business Combinations
  • Consolidation
  • Provisions, Contingent Liabilities, and Contingent Assets
  • Revenue Recognition
  • Financial Instruments
• Recent pronouncements and pending projects and their impact on divergence including:
• • Cryptocurrency
  • Income statement presentation
  • Income tax reconciliation

Key Takeaways

• Distinguish between principle-based (IFRS) and rule-based (US GAAP) frameworks.
• Identify and apply different recognition & measurement rules for major areas (PPE, leases, impairment, revenue, financial instruments, etc.).
• Understand the impact of accounting choices on the Statement of Comprehensive Income, Financial Position, Cash Flows, and Equity.
• Stay updated on emerging issues (cryptocurrency, income statement presentation) that are reshaping divergence or convergence.

Who Should Attend

• Chief Financial Officers
• Financial Controllers
• Finance Managers
• Auditors
• Accountants
• Those involved in the preparation and interpretation of financial statements
• Those who want to understand the key differences between IFRS/SFRS(I) and US GAAP
• Other users of financial information