/Mike  /Morleyspeaker of compliance global
Speaker: Mike Morley

Duration: 60 Minutes
Product Code: 700083
Level: Beginner

IFRS 1- First-Time Adoption: Options and Exemptions.

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Publicly Accountable Enterprises (PAE’s) are expected to soon publish their first comparative financial statements (including quarterly statements) based on International Financial Reporting Standards (IFRS) accounting. They will need to implement the new standards well in advance of that date using IFRS Standard # 1.  IFRS Standard # 1 was specifically issued to help companies with the transition from GAAP financial statements. In addition, a reconciling financial statement which bridges the gap between the two will be required. In effect, IFRS requires that the PAE’s be able explain the differences between IFRS and GAAP.

Why Should You Attend

This webinar will outline the procedure for implementation and examine the many options and exemptions that companies need to carefully consider when implementing International Financial Reporting Standards.

Areas Covered in this Webinar

Topics covered will include:
• Sizing up the scope and impacts of implementation: questions you need to ask
• Planning the approach: accounting procedures and decision criteria
• Mixed asset valuation model: revaluation and historical cost
• Setting up the opening IFRS balance sheet
• Navigate the exceptions and options allowed by IFRS #1
• Understand the GAAP/IFRS reconciliation requirement
• Simplifying transitional provisions
• Know the disclosure requirements
• Review financial statement presentation

Learning Objectives

Know how to build the initial IFRS Balance Sheet by adding, removing, and revaluating assets and liabilities, prepare the GAAP-IFRS transitional statement, and write the appropriate Notes to comply with IFRS #1.

Who Will Benefit

• Accountants
• Financial Managers
• Financial Controllers
• Company Executives
• Anyone involved in the GAAP-IFRS transition process

Speaker Profile

Mike Morley, a Certified Public Accountant, is the author of "IFRS Simplified". Mike is a recognized authority in the field of finance and helps guide companies through the IFRS compliance process. An entertaining and informative speaker, Mike is a frequent guest on television and radio.

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Product ID:700083
Duration: 60 Minutes

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