US GAAP and IFRS: An Introduction
Get an overview of the different accounting standards - US GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). This course replicates the content from module 1 of the course Global Convergence of Accounting Standards: Understanding US GAAP and IFRS - A Core NYIF Course
CPE Credits: 1
| Program Level | Intermediate |
| Prerequisites | This course has no prerequisites. |
| Advance Preparation | No advance preparation required. |
| Recent Revision Date | February 19, 2015 |
| Instructional Delivery Method | QAS Self Study |
| Field of Study | Accounting |
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Duration : 1 hour
- Define the acronyms U.S. GAAP and IFRS
- Harmonization and convergence as they relate to accounting standards
- Financial statements required under U.S. GAAP and IFRS
- Potential objectives of financial reporting
- Two-fold role of accounting standards
- Reasons why accounting standards differ among countries
- Countries currently using IFRS
- Why the adoption of IFRS internationally may not lead to full harmonization of accounting standards