• Course Information

    Title: IFRS: Operating Segments
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A013-0235B
    CPE Credits: 2.0
    Price: $19.95
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Description

Description:
IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards ("IFRS"). IFRS represents the global accounting principles that provide the foundation for most of the world's financial reporting. These Standards establish the recognition, measurement, presentation and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 5 of the IFRS Learning Module series presents an overview of IFRS 8 Operating Segments; this overview includes a detailed discussion of the processes for identifying, aggregating and reporting operating segments in IFRS financial statements. The course also discusses the IASB's and FASB's efforts towards achieving convergence in segment reporting.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Michael J. Walker

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 08/30/2016

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Objectives

Objectives:
1. Explain the process for identifying operating segments under IFRS 8.
2. Identify reportable segments based on the guidelines and quantitative thresholds provided in IFRS 8.
3. Describe the disclosure requirements of IFRS 8.
4. Describe the similarities and differences between IFRS and U.S. GAAP in the area of segment reporting.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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