The Impact of IFRS:
Getting Ready for the Major Change to Operations

Summary:

Since IFRS have become widely accepted around the world, U.S. companies have been cognizant on the effects of a possible pending adoption. Among these are issues concerning the transition from GAAP to IFRS, tax reporting, tax accounting, and other matters pertaining to an organization’s financial reporting system. The question that arises now is, are U.S. companies ready to adopt these standards? And more importantly how would this scenario play out.

The Knowledge Congress is assembling a panel of distinguished experts and key regulators to help make this clear to all auditing firms and other related companies affected by this newly adopted standard. The panel will present their findings which will include best practices and up-to-the-minute updates at this live webinar.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code: 083768

 - Why has momentum grown for U.S. companies to use IFRS instead of U.S. GAAP?
 - Are we moving toward one single globally applicable set of accounting standards?
 - Would moving to IFRS benefit investors and potential investors in U.S. companies?
     » Rules versus Principles
     » Benefits versus Costs
     » Comparability
     » Transparency
     » Concerns about "national interpretations"
 - Would reported earnings of U.S. companies differ significantly between GAAP and IFRS?
 - SEC roadmap on domestic companies adopting IFRS
     » Status
     » Milestones (anticipated)
     » Consequences for FASB/IASB convergence efforts
 - Preparing for IFRS: Microsoft’s project approach
 - Major differences between U.S. GAAP and IFRS impacting Microsoft’s potential adoption of IFRS
 - What if IFRS does not provide specific answers?
 - What lessons can we learn from other countries that have adopted IFRS (including the European Union)?
 - Tax impacts of adopting IFRS; what about LIFO?
 - Other impacts (systems, education, training, etc.)

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Who Should Attend?

- CPAs
- CFOs
- Financial Auditors
- Comptrollers
- Tax Attorneys
- Legal Auditors
- Audit Partners/Consultants
- Management Accountants
- Heads of Finance
- Heads of Accounting and Admin
- Portfolio Managers
- Financial Analyst
- Financial Accounts Manager
- Corporate Senior Management

Why Attend?

This is a must attend event to anyone interested in understanding the latest updates about the tax impact of IFRS.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

The Impact of IFRS
LIVE Webinar

Thursday, September 25th, 2008
1:00 pm to 3:00 pm (EDT)