Browse Financial Accounting and Reporting (FAR)
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- 3.1 Comprehensive Review of the Balance Sheet (Statement of Financial Position)
- 3.2 Income Statement: Single-Step vs. Multi-Step Formats
- 3.3 Statement of Comprehensive Income (OCI Components and Presentation)
- 3.4 Statement of Changes in Equity (Share Capital, Retained Earnings, Other Equity Items)
- 3.5 Statement of Cash Flows (Operating, Investing, Financing; Indirect/Direct Methods)
- 3.6 Notes to the Financial Statements (Policies, Related Party Disclosures)
- 3.7 Illustrative Examples and Advanced Issues for For-Profit Entities
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- 4.1 Overview of Not-for-Profit Accounting and Governing Principles
- 4.2 Statement of Financial Position (Net Assets: With/Without Donor Restrictions)
- 4.3 Statement of Activities (Classification of Revenues, Expenses, Support)
- 4.4 Statement of Cash Flows (Direct vs. Indirect Methods)
- 4.5 Functional Expense Reporting (By Nature and Function)
- 4.6 Disclosures and Special Topics in Not-for-Profit Accounting
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- 5.1 Measurement Focus and Basis of Accounting (Current vs. Economic Resources)
- 5.2 Governmental, Proprietary, Fiduciary Funds (Types and Major vs. Nonmajor Funds)
- 5.3 Government-Wide vs. Fund-Level Statements and Required Reconciliations
- 5.4 Budgetary Accounting, Encumbrances, and Appropriations
- 5.5 MD&A Requirements, Required Supplementary Information (RSI)
- 5.6 Illustrative Examples (Basic Transactions and Sample Disclosures)
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- 6.1 SEC Regulatory Environment (Securities Exchange Act of 1934)
- 6.2 Interim Reporting and Required Disclosures
- 6.3 Annual Filings and Form 10-K/10-Q/8-K Requirements
- 6.4 Earnings per Share (Basic and Diluted Calculation)
- 6.5 Segment Reporting (Identifying Reportable Segments, Disclosure Requirements)
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- 26.1 Consolidated Financial Statements (Advanced Topics, Eliminations)
- 26.2 Business Combinations (Purchase Accounting, Goodwill, Noncontrolling Interests)
- 26.3 Foreign Currency Transactions, Translation, and Remeasurement (Overview)
- 26.4 Additional Advanced Topics: Pushdown Accounting Revisited, Quasi Reorganizations
- 26.5 Comprehensive Exercises Integrating Multiple FAR Topics
Chapter 25: IFRS Overview and Key Differences from U.S. GAAP
In this section
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Conceptual Framework Differences (IFRS vs. GAAP)
A comprehensive examination of the conceptual frameworks under IFRS and U.S. GAAP, highlighting key definitions, fundamental principles, and qualitative characteristics for CPA exam readiness.
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Financial Statement Presentation and Terminology Under IFRS
Discover the key differences in financial statement presentation under IFRS, including standard naming conventions and layouts, and learn how global accounting principles shape transparency, comparability, and consistency in financial reporting.
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Major Recognition/Measurement Differences (Inventory, PP&E, Impairment, Leases, Going Concern, etc.)
Explore key recognition and measurement differences between U.S. GAAP and IFRS in areas such as inventory costing, property, plant and equipment, impairment testing, lease accounting, and going concern assessments.
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IFRS vs. GAAP Disclosure Variations and Convergence Efforts
Explore the key disclosure differences between IFRS and U.S. GAAP, ongoing convergence efforts, and practical examples highlighting main expansions in financial statement notes.
