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IFRS FOR ANALYSTS AND FINANCIAL STATEMENT USERS (1 DAY)

IFRS (International Financial Reporting Standards) has come to Canada. Since January 2011, all publicly accountable companies, public companies listed on the Toronto Stock Exchange and crown corporations, are required to report their financial results using IFRS instead of Canadian GAAP. Anyone who uses financial statements, including research analysts, portfolio managers, and bankers, need to understand the differences between the former Canadian GAAP and IFRS to be effective.

Topics covered

  • Background and Overview of 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
  • Provisions
  • Contingent liabilities
  • Leases
  • Increases in professional judgement and disclosures
  • New presentation format for financial statements
  • Impact of IFRS on financial statements
  • Impact of IFRS on ratios and financial models
  • Deadlines for adoption in Canada and the U.S.
  • IFRS as a moving target
  • Major upcoming IFRS changes
  • 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

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