Most countries in the world, including the United States, have either adopted International Financial Reporting Standards, are in the process of doing so, or are converging their national accounting and financial reporting systems (such as the U.S.'s Generally Accepted Accounting Principles [GAAP]) to comply with IFRS. The United States Financial Accounting Standards Board (FASB) is actively pursuing a policy of convergence between U.S. GAAP and IFRS. The adoption or convergence with IFRS significantly impacts the valuation profession and affects how all assets and liabilities are appraised for the purpose of financial reporting. This practical course will help valuation professionals understand the relevant parts of the International Financial Reporting Standards that affect the valuation profession, including the use of common standards, terminology, and definitions. By working through international case studies, participants will learn the procedures for conducting fair valuation of fixed assets for financial reporting and how to conduct a test for asset impairment.
Upon completion of the course, participants will be able to: