This programme is designed to provide an overview of the key differences between the FRS and US GAAP. Participants will gain valuable insights into how varying accounting rules and regulations impact the financial statements of companies. Additionally, this programme will also explore and provide insights into recent pronouncements and pending projects that will influence the convergence or divergence of these accounting standards.
Programme Outline
- Overview of IFRS and US GAAP
- IASB, IFRIC and their pronouncements
- FASB, EITF, AICPA, SEC and their pronouncements
- Principle-based vs rule-based
- Financial Statement Presentation
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Cash Flows
- Statement of Changes in Equity
- Key differences in IFRS and US GAAP recognition and measurement including:
- Inventory
- Property, Plant and Equipment
- Investment Property
- Lease Accounting
- Intangible Assets
- Impairment of Assets
- Discontinued Operations
- Income Taxes
- Share-Based Payments
- Borrowing Costs
- Business Combinations
- Consolidation
- Provisions, Contingent Liabilities, and Contingent Assets
- Revenue Recognition
- Financial Instruments
- Hedge Accounting
- Recent pronouncements and pending projects and their impact on divergence including:
- Cryptocurrency
- Management Reporting Measures
- Measurement of Equity Securities
Pre-requisites
Please take note of the following admission requirements:
- Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
- Mandatory for video camera to be turned on throughout the course
Display your official name (as per NRIC) in Zoom, to facilitate attendance taking
Training Methodology
Online Lecture, with Exercises and Illustrated Examples
Closing Date for Registration
1 week before programme or until full enrolment
Intended For
An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. This course will also be beneficial for users of financial statements, and individuals who want to understand key differences between FRS and US GAAP.
Competency Mapping
Category 1 = 7.00 Hours
Schedule & Fees
Date & Time
13 Mar 2025 (9:00 AM - 5:00 PM)
Registration is closed
Programme Facilitator(s)
Thomas Egan
Venue
Live Webinar in or outside of
Singapore
Date & Time
19 Jun 2025 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
SGD pricing -
For Members:
$ 381.50
For Non-Members:
$ 458.89
Programme Facilitator(s)
Thomas Egan
Venue
Live Webinar in or outside of
Singapore
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.
This programme is designed to provide an overview of the key differences between the FRS and US GAAP. Participants will gain valuable insights into how varying accounting rules and regulations impact the financial statements of companies. Additionally, this programme will also explore and provide insights into recent pronouncements and pending projects that will influence the convergence or divergence of these accounting standards.
Programme Outline
- Overview of IFRS and US GAAP
- IASB, IFRIC and their pronouncements
- FASB, EITF, AICPA, SEC and their pronouncements
- Principle-based vs rule-based
- Financial Statement Presentation
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Cash Flows
- Statement of Changes in Equity
- Key differences in IFRS and US GAAP recognition and measurement including:
- Inventory
- Property, Plant and Equipment
- Investment Property
- Lease Accounting
- Intangible Assets
- Impairment of Assets
- Discontinued Operations
- Income Taxes
- Share-Based Payments
- Borrowing Costs
- Business Combinations
- Consolidation
- Provisions, Contingent Liabilities, and Contingent Assets
- Revenue Recognition
- Financial Instruments
- Hedge Accounting
- Recent pronouncements and pending projects and their impact on divergence including:
- Cryptocurrency
- Management Reporting Measures
- Measurement of Equity Securities
Pre-requisites
Please take note of the following admission requirements:
- Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
- Mandatory for video camera to be turned on throughout the course
Display your official name (as per NRIC) in Zoom, to facilitate attendance taking
Training Methodology
Online Lecture, with Exercises and Illustrated Examples
Closing Date for Registration
1 week before programme or until full enrolment
Intended For
An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. This course will also be beneficial for users of financial statements, and individuals who want to understand key differences between FRS and US GAAP.
Competency Mapping
Category 1 = 7.00 Hours
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.