U.S. IFRS Conversion Update: Tax Accounting Standards
Responding to Latest Developments in International Financial Reporting Standards Conversion
Recording of a 110-minute CPE/CLE webinar with Q&A
This course will bring accounting advisors and tax executives up to date on progress in a U.S. conversion to IFRS. The panel will analyze the impact on tax accounting standards and provide perspectives for working with corporate tax clients on advance preparation.
- Background on IFRS conversion
- Other countries that have adopted
- SEC U.S. “road map” proposed in late 2008
- IASB and FASB work on conceptual framework
- FASB projects on standards conversion to IFRS from GAAP
- Comparing GAAP and IFRS tax accounting standards
- Understanding material differences between IS 12 and FAS 109
- Status of latest EU accounting directives
- Implementation of IFRS regs
- Comparison of IAS 12 and ASC 740
- How IFRS may be adopted here, in a practical sense
- IFRS 1
- Opening IFRS balance sheet
- Important challenges
- Prudent preparatory steps to take or advise now
- Logical transition for corporate taxpayers, depending on their size and sophistication
The panel will get to the bottom line of these and other critical areas:
- The project timetable: What key deadlines are coming up at FASB, IASB and the SEC, and what is their real impact on U.S. corporate taxpayers and their tax advisors?
- Current FASB conversion projects: Which tax accounting standards are already being reworked, and how?
- Key differences between parallel IASB and FASB standards: How, for example, do IAS 12 and FAS 109 compare?
- IFRS conversions in other countries: What can the U.S. learn from their experiences?
- Prudent preparatory steps to take now: Getting ready for a conversion date and a first IFRS-compliant balance sheet.
Alvarez & Marsal Taxand
He has more than 10 years of tax consulting experience, with particular emphasis on SEC and IFRS reporting. His primary... | Read More
He has more than 10 years of tax consulting experience, with particular emphasis on SEC and IFRS reporting. His primary concentration now is on ASC 740, SoX 404 and improvement of tax processes. He previously spent five years with Ernst & Young.Close
She has extensive experience on income tax accounting matters for the firm. She helped develop the firm's internal... | Read More
She has extensive experience on income tax accounting matters for the firm. She helped develop the firm's internal course on accounting for income tax under IFRS and prepares income tax sections on IFRS awareness presentations for clients and prospects. She also has worked on IFRS assessment engagements and provision reviews.Close