This course provides an overview of the similarities and key differences between the revenue recognition and business combination standards issued by the FASB and the IASB. While these standards are similar in many material respects, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.

Learning Objectives
  • Explore and list the key steps in the revenue recognition model.
  • Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition.
  • Identify some of the key differences between ASC Topic 606 and IFRS 15.
  • Explore and list the key steps in the acquisition method for business combinations.
  • Recognize the applicable U.S. GAAP and IFRS standard with respect to business combinations.
  • Identify some of the key differences between ASC Topic 805 and IFRS 3.
Last updated/reviewed: March 25, 2024
4 Reviews (16 ratings)

Reviews

5
Anonymous Author
Helpful. Im glad I have the text to refer back to when I need to. A table at the end that summarizes the differences would have been much appreciated.
5
Anonymous Author
Detailed course on differences between GAAP and IFRS, take your time, there is a lot of information here.
5
Member's Profile
Good comparison between GAAP and IFRS for Rev Rec and Business Combos
5
Anonymous Author
Great text-based course - very thorough and covers the topic well.
Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
COURSE MATERIAL
  U.S. GAAP vs. IFRS - Rev Rec & Business Combinations (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam