International Financial Reporting Standards (IFRSs) and US GAAPXLRI School of Business and Human Resources
Frequent Asked Questions
Middle and Senior Level Executives from Corporates, Banks and Financial Institutions and other organisations working in the areas of Accounting, Auditing, Financial Reporting and Taxation. The programme develops understanding and interpretations of important Accounting Policies of US, Europe and India.
Lecture Method, supplemented with live case study, and Interactive Learning with Practitioners.
The overall coverage of the course will include :
· Changing perspective of Accounting Standards.
· Discussion on Rule Based v/s Principle Based Accounting Policy
· Important Legal and Disclosure requirements of Financial Statements as per Indian Accounting Standards, IFRSs and US GAAP.
· Discussion on US IFRSs
1. IFRS - 1 (First time adoption of International Financial Reporting Standards)
2. IFRS - 2 (Share-based Payments)
3. IFRS - 3 (Business Combinations)
4. IFRS - 4 (Insurance Contracts)
5. IFRS - 5 (Non-current assets held for sale and discontinued operations)
6. IFRS - 6 (Exploration for and Evaluation of Mineral Resources)
7. IFRS - 7 (Financial Instruments : Disclosures)
8. IFRS - 8 (Operating Segments)
· Discussion on convergence of Indian Accounting Standards with IFRSs.
· Discussion on some important and widely used US GAAP.
· Comparative Analysis of Indian Accounting Standards with IFRSs and US GAAP.
· Corporate governance and disclosure practices