US GAAP, IFRS, Irish GAAP for Investment Funds

Duration: 1 Day

Programme overview

A comprehensive, practical comparison of current US GAAP, IFRS & Irish GAAP requirements and practices for investment fund financial reporting.

Course Objectives

At the end of this course participants will be able to

  • Outline the background to the three accounting frameworks
  • Present principal financial statements in a format consistent with IFRS
  • Highlight the main differences between the components and format of financial statements under each system
  • Classify financial assets in accordance with IFRS
  • Describe how financial assets & liabilities are measured under IFRS
  • Describe the characteristics of fair value and the fair value hierarchy
  • Highlight the similarities and differences between the measurement and disclosure requirements of assets and liabilities under each system
  • Discuss recent updates and expected developments in IFRS, Irish & US GAAP

Who should attend?

Experienced hedge fund and mutual fund financial reporting professionals that need the similarities and differences between the different GAAPS highlighted.

Course Content (Summary)

  • Framework
  • Financial statements
  • Statement of assets & liabilities
  • Statement of comprehensive income
  • Statement of cash flows
  • Financial instruments
  • Recognition & de-recognition
  • Classification of financial assets & financial liabilities
  • Initial & subsequent measurement of financial assets & financial liabilities
  • Fair value
  • Disclosure
  • Offsetting
  • Current Developments
  • Enhanced Disclosures

Trainer Profile