International Financial Reporting Standards (IFRS) is the accounting framework accepted in over 168 countries around the world. For US based entities applying IFRS for the first time and on an on-going basis, this can be challenging given the differences between IFRS accounting principles generally accepted in the United States (USGAAP).

This presentation will help attendees understand the key differences between IFRS and USGAAP and walk through the key considerations when adopting IFRS for the first time. In addition, the presentation will take some time to consider the upcoming changes to IFRS, in particular the new standard: IFRS 18 Presentation and Disclosure in Financial Statements, which will lead to additional differences between the IFRS and USGAAP, when it becomes effective.What You'll Learn:Introduction

• Learning Objectives
  
• Background

Key Differences Between the IFRS and Us GAAP

• Key Differences Between the IFRS and Us GAAP
  
• Balance Sheet Items
  
• Income Statement Items

IFRS 18

• IFRS 18
  
• New Standard
  
• Key Changes

What First Time Adopters Need to Know

• IFRS 1 - First Time Adoption
  
• Strategies for a Smooth Transition