Now that the SEC has released its roadmap for conversion from US GAAP to IFRS
, companies have a potentially huge project on their hands. And if handled incorrectly, it could quickly become a costly fiasco. This cutting-edge seminar will:
Detail the steps required for the conversion process
a. Identify key differences between IFRS and US GAAP that impact your company
b. Develop a framework to allocate the time and resources to get the job done
c. Give you the tools to prepare a financial statement "preview" under IFRS
OBJECTIVE:
To help accountants, preparers and other financial professionals to plan, budget and implement a transition from US GAAP to IFRS. You will learn how to determine the principal differences that a switch to IFRS poses for your company. You will also learn where to find answers to your transition questions and how to assess the IT requirements of a changeover.
EMPHASIS:
Project management:
a.how to organize and prioritize your conversion to IFRS
b. Determining which IFRS are relevant to your company
c. Principles-based vs. rules-based accounting
d. Determining how long the transition will take
e. Assessing manpower issues for the conversion
f. Differences between IFRS and US GAAP
g. Proposed timeline for IFRS adoption
h. Estimating transition and conversion costs
i. The financial statements under IFRS
j. What if there is no IFRS standard that addresses my transaction?
k. IT issues: new software vs. modifications to existing systems
l. Impact of transition on SEC reporting standards