CPE Session 25: Sunday, August 3, 8:00 AM – 12:00 PM
Incorporating International Financial
Reporting Standards (IFRS) in Intermediate Financial Accounting – How to Proceed
(Accounting – Intermediate)
[SESSION FULL]
Description/Objectives:
The SEC is leading the charge in the US to allow US public companies to issue financial statements based upon IRFS issued by IASB. One widely recognized problem is the need for education. This workshop is to address that issue by discussing:
- The reasons for incorporating IFRS in intermediate accounting.
- Sources of information on IFRS and IASB, their histories, and the status of convergence.
- The IFRS and how they differ from US GAAP, organized by topics of intermediate course. Participants will work exercises designed to focus on the differences.
- Teaching materials including problems, exercises and cases will be distributed.
Prerequisites:
It is assumed that the participants will have a knowledge of intermediate financial accounting.
Presenters:
John A. Brozovsky, Virginia Tech
Jennifer Edmonds, Virginia Tech
Rebecca G. Fay, Virginia Tech
Patty Lobingier, Virginia Tech
Note: CPE fields of study are in parentheses