Descripción
This session is designed to allow all those involved in advising corporations, who need an understanding of their financial reporting obligations, to understand how the convergence project may evolve in the near future. The project to achieve convergence in global Accounting Standards has reached a critical point. Financial regulators in many countries are facing the decision to either extend the application of IFRS or maintain inconsistent local practice. To date, the practical issues have only affected major entities with a public market for their stock, shares or other securities; this is likely to change. David Potts is a UK qualified chartered accountant who has spent most of the past 17 years as a full time training consultant, providing finance training for accountants and other professionals acting in commercial activities; such as bankers , lawyers and corporate finance professionals What you will learn: The session will cover the following topics: Current use of IFRS Countries who apply or base their GAAP on IFRS Scope of usage; non-listed entities and subsidiaries Countries considering full acceptance of IFRS Current convergence timetable and key milestones Short term projects The Roadmap with FASB (in the US) Other key events; adoption of EU 8th directive Key projects on the agenda Business combinations, goodwill and intangible assets Presentation of financial statements Financial instrument issues Revenue recognition Income tax The problem with principles and the big picture IFRS key concept Problems with fair value model The way forward? Practical problems on changing to IFRS Timing; tracking opening balances and reconciling changes Presentation – changing the chart of account What you will receive: - Full detailed powerpoint presentation
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