The diminishing differences between generally accepted accounting principles (GAAP), principally established by the Financial Accounting Standards Board (FASB), and international financial reporting standards (IFRS), as established by the International Accounting Standards Board (IASB), is narrowing at a faster pace. International Finance Reporting Standards (IFRS) are now the world’s most widely accepted and applied accounting standards with more than 100 countries now requiring or permitting their use.
During this comprehensive EuroMaTech training course participants will obtain an understanding of the following bodies of knowledge:
- The basic concepts of accounting and financial reporting disclosures and varying reconciling and non-reconciling differences between GAAP and IFRS
- The scope, structure, contents and components of IFRS compliant financial statements, including underlying assumptions and related footnotes disclosures
- Measurement and recognition of the various elements of international accounting principles and standards, including transition concerns
- Revenue recognition and financial reporting requirements