Available Until:

4/24/2026

Registration Open:

onDemand

Time:

onDemand

Facility:

onDemand

Meeting Type:

CPEOnDemand

CPE Credit:

1.00

Field(s) Of Study:

Accounting (1.00)

Level of Knowledge:

Basic

Price:

Member: $40.00
Nonmember: $50.00

Individual Discounts:

Not Available

Group Discounts:

Not Available

Overview

Understand the requirements for first-time adoption of International Financial Reporting Standards (IFRS 1).

Highlights

Assist clients transitioning to IFRS Standards

Knowledge of IFRS 1, First-Time Adoption of International Financial Reporting Standards, is paramount to helping clients shift to international accounting standards. Whether your clients are transitioning from GAAP or other standards, a foundational understanding of IFRS 1 will prepare you to facilitate the adoption of IFRS Standards.

You will learn key elements of IFRS 1, including:

  • IFRS 1’s purpose and scope,
  • guidelines for transitioning to IFRS Standards, and
  • exemptions and disclosure requirements.

Prepare for the future

Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards®.

Whatever your location, you could easily find yourself with a client subject to IFRS requirements.

Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.

Realistic scenarios to apply new concepts

The interactive learning elements and real-life examples will help you implement key concepts you learn in this course.

The real-world case studies will enable you to apply the core principles of IFRS 1 to better assist your clients in adopting IFRS Standards.

Who Will Benefit

  • Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS Standards.
  • Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.

Key Topics

  • IFRS 1’s purpose and scope
  • Transitioning to IFRS Standards
  • Exemptions
  • Transactions
  • Disclosure requirements

Learning Outcomes

  • Recognize whether an entity qualifies as a first-time adopter of IFRS Standards.
  • Identify the date of transition to IFRS Standards.
  • Identify mandatory and optional exemptions under IFRS 1.
  • Recall the disclosures required by IFRS 1.
  • Identify the key financial system considerations for an IFRS conversion.

Speaker(s)

Prerequisites

Familiarity with financial reporting and accounting principles under IFRS