Financial Accounting and Reporting Standards (IFRS/GAAP)

What You Will Learn

• 1 Learn the conceptual foundations of financial reporting, including users, purpose, and the standard-setting environment.
• 2 Understand the structure and preparation of the four principal financial statements under IFRS and GAAP.
• 3 Apply asset and liability accounting rules for inventory, PPE, intangibles, leases, and financial instruments.
• 4 Analyze revenue recognition and expense matching under IFRS 15 and related standards.
• 5 Evaluate consolidation, business combinations, and goodwill under IFRS 3 and ASC 805.
• 6 Utilize ratio analysis, cash flow analysis, and trend analysis to assess performance and risk.
• 7 Compare accounting treatment for income taxes, employee benefits, and share-based payments.
• 8 Apply foreign currency translation and hyperinflationary accounting methods.
• 9 Design effective disclosures and prepare financial statements for specialized entities such as nonprofits.
• 10 Adapt IFRS principles to small and medium-sized entities under the IFRS for SMEs standard.
• 11 Examine ethical frameworks, governance, and fraud prevention in financial reporting.
• 12 Synthesize knowledge in a comparative reporting project that contrasts IFRS and GAAP treatments.