IFRS Learning Module 5: Operating Segment Reporting

  • Credits: 3
  • Format: Self-Study eBook
  • Field of Study: Accounting
  • Author/Speaker: Michael J. Walker, CPA
Course ID: Advanced Preparation: Experience Level:
MW-111.S None Overview
Published Date: Program Prerequisites: Other Course Formats:
© August 2020 General Understanding of Accounting Self-Study eBook
COURSE 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.

Topics include:
  • Chapter 1: INTRODUCTION TO IFRS 8
  • Chapter 2: IDENTIFYING OPERATING SEGMENTS
  • Chapter 3: IDENTIFYING AND AGGREGATING REPORTABLE SEGMENTS
  • Chapter 4: DISCLOSURES (SEGMENT)
  • Chapter 5: DISCLOSURES (ENTITY-WIDE)
  • Chapter 6: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

After reading the course material, you will be able to:

  • Explains the process for identifying operating segments under IFRS 8.
  • Identify reportable segments based on the guidelines and quantitative thresholds provided in IFRS 8.
  • Describe the disclosure requirements of IFRS 8.
  • Describe the similarities and differences between IFRS and U.S. GAAP in the area of segment reporting.

Who Should Attend:
  • All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA