The Impact of IFRS and Other Global Standards on Private Entities

By now it is common knowledge that U.S. issuers (or publicly-traded entities) are in the process of possibly transitioning to International Financial Reporting Standards (IFRS). The hope is that use of a single, high-quality standard will eventually empower investors to make better-informed investment decisions by enabling them to easily compare financial statements worldwide. But, what about the ultimate impact on nonissuers (or private entities) This course will explore all of the global professional and regulatory standards currently impacting private entities.

Objectives:

• Get up-to-date information related to the impact of converging to global professional and regulatory standards for U.S. private entities that desire to adopt the less complex IFRS for Private Entities over full-blown IFRS

Major Topics:

• How did the need and desire for convergence to a single global set of standards evolve
• Opportunities and obstacles involved with transitioning to IFRS
• Is IFRS really less complex than U.S. GAAP, and what are the critical differences
• Differences in the two variations of IFRS
• IFRS standards and interpretations that are relevant for private entities
• How will these changes impact financial statement presentation and disclosure for private entities
• Transitioning from U.S. GAAP to IFRS
• What other global professional and regulatory standards are also converging with U.S. standards (generally accepted auditing standards, ethics and independence rules, etc.)

Developed and offered by the Business Learning Institute.
Register for this course on the CPA2Biz/State CPA Society website. Note that your AICPA/CPA2Biz username will not be recognized on this website. Should you have questions, please contact LearnLive Customer Support directly at support@learnlive.com, or call 1-206-812-4700, Monday - Friday, 8AM - 8PM Eastern Time.

The Business Learning Institute, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.