Are you ready for ‘Little GAAP’? The International Financial Reporting
Standards for Small and Medium-sized Entities is an acceptable GAAP for
US small and medium-sized companies with no public accountability.

Do you know if it’s a good choice for your non-public company or one of your
clients? What has been the current US response to the new standards?

Learn how short and simple the new standards are and thoughtfully consider
the multi-faceted implications of adoption.

Discuss how different this standard might be as we take a closer look at how
‘IFRS for SMEs’ compares with current US GAAP.

• Assess whether your company or your clients qualify for
  the standards.
• Examine key issues central to implementation.
• Identify the spectrum of initial adoption considerations including
  but not limited to revaluation options, retroactive restatements of
  balance sheet accounts to come in line with measurement and
  classification of individual assets, liabilities and equities using IFRS
  for SMEs.
• Consider potential drawbacks to adoption.
• Weigh the implications on the marketplace as well as employees.
• Become knowledgeable about details of the standards and
  contrast with current GAAP.
• Determine the minimum timeline needed for implementation.
• Scrutinize available case studies by non-US companies to
  glean insights.

• How does the IASB define a ‘Small and Medium-sized Entity’ (SME)?
• What is the reaction to IFRS for SMEs?
• Why consider moving away from US GAAP?
• What advantages does IFRS for SMEs offer?
• Discuss potential drawbacks of adoption.
• How does IFRS for SMEs differ from US GAAP?

*Revenue recognition                *Other intangible assets
*Impairment                             *Preference shares  
*Land, buildings & equipment    *and much more  
*Goodwill

• Consider the implications of the new accounting standards on:

*Accounting and reporting          *Systems and processes  
*Tax and regulatory                   *People  
*Business relationships

• More adoption considerations:

*Minimum transition timeframe   
*Initial balance sheet valuation options  
*Definitions of debt and equity  
*Bank covenants  
*Employee compensation  
*Industry comparables