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IFRS FOR FINANCIAL ANALYSTS AND
FINANCIAL STATEMENT USERS (1 DAY)

IFRS (International Financial Reporting Standards) is coming to Canada. By 2011, all publicly accountable companies, public companies listed on the Toronto Stock Exchange and crown corporations, will be required to report their financial results using IFRS instead of Canadian GAAP.

Topics covered

Topics include:

• The rational behind IFRS
• Benefits of IFRS
• An overview the international accounting framework
• Summary of similarities between IFRS and Canadian GAAP
• Summary of changes between IFRS and Canadian GAAP
• Fair values vs historical costs
• Asset impairments and impairment reversals
• Business combinations
• Increases in professional judgement and disclosures
• New presentation format for financial statements
• Impact of IFRS on financial statements
• Impact of IFRS on ratios
• Deadlines for adoption in Canada and the US
  (including interim deadlines for MD&A)
• IFRS as a moving target
• Current projects underway by IASB / FASB
• Where to get additional information to stay current on IFRS developments

Workshop format

This workshop is highly interactive. Participants will see the impact of the new accounting standards first hand by working through exercises and reviewing statements prepared using different accounting standards.

Who will benefit

This course is an introduction to IFRS and is intended for the users, rather than the preparers, of financial statements. It is designed to help financial professionals and non-financial professionals understand some of the major differences between Canadian rules and IFRS. It will highlight some of the major impacts that the new accounting standards could have on Canadian companies.

Price: $649