• videocam Live Webinar with Live Q&A
  • calendar_month June 8, 2026 @ 1:00 p.m. ET./10:00 a.m. PT
  • signal_cellular_alt Intermediate
  • card_travel Accounting
  • schedule 110 minutes

IFRS vs. GAAP: Comparing and Contrasting Financial Statement Requirements

Identifying Key Balance Sheet, Income Statement, and Disclosure Differences

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About the Course

Introduction

This course will review significant differences affecting a broad range of financial statement areas, comparing, and contrasting the requirements in accordance with generally accepted accounting principles (GAAP) versus International Financial Reporting Standards (IFRS) for accountants preparing financial information under either or both standards.

Description

Over 144 jurisdictions require the use of IFRS for all or most companies, while entities in the United States predominantly apply GAAP. There are similarities and substantial differences between these reporting methods. Recent standard setting has often sought to align the two bases of accounting, but there are differences including in the new lease standard, as well as the differences that have existed for a while related to inventory, fixed assets, and stock-based compensation to name just a few. These differences can substantially alter the financial results reported.

For those adopting IFRS for the first time, IFRS 1, First-Time Adoption of International Financial Reporting Standards, provides guidelines for preparing a company's first IFRS-based financial statements. This challenging process requires applying IFRS principles retroactively, with few exceptions. There are many unique disclosure requirements for the initial IFRS statements as well.

Preparing compliant financial statements under two sets of guidelines is a complex process for practitioners who thoroughly understand IFRS and GAAP reporting requirements. U.S. multinational investors, cross-border companies, and anyone wanting to be able to interpret non-U.S. financial statements need to be able to compare these financial statements as well.

Listen as our panel of international reporting experts identifies key balance sheet, income statement, and disclosure differences in U.S. GAAP and IFRS to enable CPAs to comply with these standards and allow multinational investors to better analyze financial statements.

Presented By

Shane Classen, CPA, CA (SA)
Senior Manager, Professional Practice, Global Services
BDO USA

Mr. Classen is a Senior Manager within the Global Offerings group at BDO USA with a focus on International Financial Reporting Standards (IFRS). He carries over 12 years of public accounting experience, spanning across three continents having worked for BDO South Africa, BDO UK, and BDO USA over the course of his career. Mr. Classen's primary objective is to help clients with their IFRS auditing, reporting and accounting advisory needs, including adopting new IFRS standards, full IFRS conversions, and preparing IFRS financial statements. 

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Ryan Lackey, CPA, CA
Senior Manager
Grant Thornton

Mr. Lackey has over 6 years of experience in accounting and assurance for clients of all sizes. He currently serves as part of the Financial Reporting Advisory Services team. In this role, Mr. Lackey assists companies with the analysis, documentation, and implementation of complex accounting issues, including liaising with management and the client’s external auditors on these issues to help reach a resolution.

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Manpreet Lote, CPA
Manager, Financial Reporting Advisory Services
Doane Grant Thornton LLP

Ms. Lote is a Manager in the Financial Reporting Advisory Services practice with over 5 years of combined accounting experience across advisory, audit, and industry roles. In her current role, she supports clients across a broad range of industries, advising on complex accounting and financial reporting matters under both US GAAP and IFRS. During her time with the team, Ms. Lote has played a key role in engagements involving the adoption of accounting standards, transition to new accounting frameworks, and the preparation of technical accounting analyses. Her experience includes advising on business combinations, debt and equity transactions, consolidation assessments, and other complex transactions requiring significant judgment. Ms. Lote is experienced in translating technical accounting requirements into practical, client focused solutions and works closely with the internal team to deliver high quality, timely advisory services.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

Date + Time

  • event

    Monday, June 8, 2026

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. Converting from U.S. GAAP to IFRS and vice versa

II. Critical differences in the balance sheet accounts

III. Key differences in the income statement accounts

IV. Specific transaction-related differences

V. Unique reporting and disclosure considerations

The panel will review these and other key issues:

  • Specific countries adopting and not adopting IFRS
  • Differences between IFRS and GAAP reporting of combinations and mergers
  • Differences between the two leasing standards (ASC 842 and IFRS 16)
  • First-time IFRS adoption requirements under IFRS 1
  • Accounting for stock-based compensation

Learning Objectives

After completing this course, you will be able to:

  • Identify specific reporting differences for leases under GAAP and IFRS
  • Determine permitted inventory reporting methods under IFRS
  • Ascertain when fair value revaluations are permitted under IFRS
  • Decide when impairment losses are reported under GAAP vs. IFRS
  • Field of Study: Accounting
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .