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The next few years will be disruptive to the current balance sheet and income statement. The global world of accounting is shifting. A dramatic impact by the current set of accounting implementations applies to the overall accounting landscape and the regulatory environment.
Explore the U.S. GAAP and IFRS convergence process and how the standard setters have aligned and differed in areas such as Revenue Recognition, Leases and Impairment relating to expected credit losses, overall financial instruments and hedging.
Navigate the new guidance and understand differences and similarities between the FASB ASUs and the IFRS standards—including the IFRS 9 standard. Cover the impacts to the financial reporting under the five-step model of Revenue Recognition and the classification impacts of assets and liabilities covered under the guidance of major implementations occurring over the next few years. Additionally, cover the impacts affecting qualified and non-qualified hedges.
Plus, explore the credit loss models under the Current Expected Credit Loss approach and why measurements under incurred loss views were criticized. Discuss the new measurement category FVTOCI and how the reporting of equity investments is impacted.
The lunch period for this event will be 30 minutes and a box lunch is included in your registration fee. Class will adjourn at 4 p.m. unless otherwise specified.
CPAs responsible for preparing GAAP or IFRS financial statements as well as those who audit, review or compile financial statements.