Course Descriptions
GAAP to IFRS: A World of Difference
The purpose of this course is to provide a thorough understanding of the International Financial Reporting Standards (IFRS) and the most material areas where these standards differ from U.S. GAAP. Specific topics covered include:- IFRS framework
- Financial statement requirements
- Financial instruments
- Inventory
- Property and equipment
- Intangible assets
- Asset impairments
- Debt and financial liabilities
- Contingencies and provisions
- Shared-based transactions
- Revenue recognition issues
Schedule: To be announced
Prerequisites: Intermediate understanding of generally accepted accounting principles
Advance Preparation: None
Instructional Delivery Method: Group/Live
Course Level: Intermediate
Field of Study: Accounting
Fair Value Accounting Fraud
This course focuses on the risks of financial reporting fraud associated with the increased use of fair value accounting under both U.S. GAAP and IFRS. Specific areas in which accounting rules can be exploited will be explained in detail, as well as the warning signs that such frauds may have taken place. Specific areas covered include:- Definition of fair value
- SFAS 157 fair value hierarchy of inputs
- Methods of determining fair value
- Market approach
- Income approach
- Cost approach
- SFAS 159 fair value option
- Fair value vs. historical cost accounting
- Use of present and expected value techniques
- Fair value fraud risks in:
- Investments
- Other financial assets
- Intangible assets
- Asset impairments
- Asset retirement obligations
- Business combinations
- Debt
- Other financial liabilities
- Shared-based transactions
- Contingencies
- Revenue recognition
- Methods of detection
- Use of outside specialists
- Auditor responsibilities under GAAS
Schedule: To be announced
Prerequisites: Basic understanding of generally accepted accounting principles
Advance Preparation: None
Instructional Delivery Method: Group/Live
Course Level: Intermediate
Field of Study: Specialized Knowledge