Advanced Issues in IFRS & US-GAAP - Course

Course Duration:
30+ hours comprising 25 episodes

Course Background:
The IFRS vs US GAAP refers to two accounting standards and principles adhered to by countries in the world in relation to financial reporting. The IFRS is a set of standards developed by the International Accounting Standards Board (IASB). The IFRS governs how companies around the world prepare their financial statements. On the other hand, the Generally Accepted Accounting Principles (GAAP) are created by the Financial Accounting Standards Board (FASB) to guide public companies in the United States when compiling their annual financial statements.

What shall the course cover?
Against this backdrop, Taxsutra Neurons is delighted to present to you an exhaustive 30 Hours Master-Class Series on “Advanced Issues in IFRS & US-GAAP for Professionals” by Mr. Mohan Lavi (Chartered Accountant). In this course, Mr. Lavi has deep dived into advanced issues vis-à-vis IFRS & US-GAAP, highlights of which are as follows:

1.   IFRS 15 / ASC 606- Revenue from Contracts with Customers :

·Issues in the identification of performance obligations

·What if a performance obligation is missed inadvertently?

·Performance obligation performed over a period of time- steps to ascertain

2.   IFRS 16 / ASC 842- Leases:

·Issues in the identification of a Lease

·Costs that should be taken into account to calculate ROU Asset

·Accounting for changes in lease rates

3.   IFRS 3 / ASC 805- Business Combinations:

·Distinction between an asset purchase and a business combination

·Ascertaining acquisition date fair values

·Accounting for costs of business combinations

·Accounting for reverse acquisitions

4. Disclosures under Ind-AS/US GAAP

•      Are the disclosures too much?

•      Can confidential information be disclosed?

•      What cannot be disclosed?

5. Financial Instruments IFRS 9/IAS 32/ASC 825

•      Ascertaining the business model of the company

•      Classification of financial instruments as per the business model

•      Issues in Accounting for Compound financial instruments

Other Sessions will cover advanced issues relating to (vis-a-vis IFRS)  Assets, Discounting, Income Taxes, Impairment of Assets, Industry-specific standards as per US-GAAP and their equivalent in IFRS etc.

Duration of Master-Class Series – Approx 30 Hours

Click here to view the brochure entailing the detailed agenda