IFRS - Revenue Recognition

A Live Two-Hour Webinar from CCH

Wednesday, July 27, 2011 - 1 PM Eastern; Noon Central; 11 AM Mountain; 10 AM Pacific

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Learn Practical Differences between IFRS and U.S. GAAP for Revenue Recognition
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Join IFRS experts, consultants and instructors, Cecil Nazareth, CPA, M.B.A., ACA and Peter Margaritis, CPA, in a timely and informative two-hour CPE webinar that will help you and your staff understand how revenue recognition is treated under the International Financial Reporting Standards (IFRS).

Revenue Recognition is one of the most important standards in IFRS. The IFRS and U.S. GAAP versions of revenue recognition vary widely. This session will focus on key concepts of IAS 18 - Revenue Recognition and how it contrasts with U.S. GAAP, and it will update you on the joint IASB and FASB exposure draft on revenue recognition. Knowing how to handle this key topic under IFRS and how it differs from U.S. GAAP treatment is essential. Mr. Nazareth and Mr. Margaritis will explain the scope, objectives, definitions and fundamental principles for revenue recognition, including measurement, timing, categories of revenue, and disclosures.

With the commitment of the SEC and the G-20 to move toward a single set of accounting standards accepted worldwide, U.S. businesses, their accounting and finance managers and staff, and CPA firms of all sizes need to develop the expertise now to successfully navigate the pending monumental transformation to IFRS. You can't afford to miss this real-world, practical exploration of IFRS accounting for revenue recognition. Time will be provided during this seminar for you to ask questions to Mr. Nazareth and Mr. Margaritis via phone or e-mail.

Program Topics

  • IFRS overview and principle-based vs. rules-based accounting
  • Revenue recognition - key concepts and principles
  • Review live IFRS financial statements - accounting policy footnotes
  • Differences between U.S. GAAP and IFRS
  • Proposed exposure draft on revenue recognition
  • FASB/IASB - Additional convergence projects, exposure drafts

Learning Objectives

  • Develop a practical understanding of revenue recognition treatment under IFRS
  • Be able to discuss with your clients and/or within your organization the impact of IFRS and the proposed revenue recognition exposure draft
  • Understand the similarities and differences between IFRS and U.S. GAAP for revenue recognition and the proposed exposure draft

Who Should Attend?

  • Preparers of financial statements
  • Finance teams from companies with international operations
  • Corporate Executives and Management - CFOs, CEOs, Finance and Accounting Managers
  • CPA firms with clients with multi-country operations or cross border transactions
  • CPAs, auditors and accounting professionals who want to gain a practical understanding of the technical accounting differences between U.S. GAAP and IFRS
  • Small and mid-sized CPA firms wanting to develop an IFRS practice niche

Comments from Past Attendees of CCH Seminars Presented by Cecil Nazareth and Peter Margaritis

  • "This was the best webcast seminar that I have ever participated in. Very practical; speaker was very knowledgeable."
  • "Very good overview of the SME IFRS standards."
  • "Good use of our time to get better acquainted with some of the major differences between IFRS and U.S. GAAP."
  • "Good content..."
  • "Like the concept of looking at how other companies reflect and treat items under IFRS. The presenter did a good job."
  • "Very effective."
  • "Very good!"
  • "Great training seminar."


Register today for this insightful program on Wednesday, July 27 at 1 PM Eastern, Noon Central; 11 AM Mountain; 10 AM Pacific.

About the Speakers:

Cecil Nazareth Cecil K. Nazareth, CPA, M.B.A., ACA

Cecil Nazareth is a partner with IFRS Partners in New York City, which specializes in IFRS education, training, consulting and conversion. Clients include CPA firms and small to medium-size businesses, including subsidiaries of foreign parents. Previously Cecil was the Director of AICPA's Internal Audit and Strategy. In that key role he worked on the AICPA overall strategic goals and organizational development. He worked closely with the CEO and developed and implemented an Executive Performance Measurement System and Balanced Score Card. Cecil also reported to the Audit Committee and Board of Directors and interacted with the external auditors. Cecil pioneered the ISO 9001:2000 Quality program at the AICPA and led it to becoming the first professional organization certified in the United States. Earlier, Cecil worked with AICPA's SEC Practice Section reviewing technical issues and peer reviews of several large CPA firms performing SEC related work. Prior to joining the AICPA, Cecil worked as an Audit Supervisor at Ernst & Young, specializing in the Financial Service industry. Cecil's international experience includes the practice in the Middle East and India. Cecil is an Indian Chartered Accountant and a U.S. CPA and fully understands the differences between IFRS and U.S. GAAP having practiced in both arenas. In addition, Cecil has an M.B.A. in Finance from Fordham University and Information Technology from Columbia University in New York City.
Peter Margaritis Peter A. Margaritis, CPA, MAcc

Peter Margaritis is the CEO of IFRS Education and Training, LLC, a provider of high quality IFRS programs to CPAs, accountants, and business leaders. He is a licensed CPA who has a certificate in IFRS from the Institute of Chartered Accountants in England and Wales. In addition to running his own business, Peter is on faculty at Ohio Dominican University, Columbus State Community College, and the University of Maryland at University College. He has also developed a 4-credit hour college course on IFRS, and is a member of the AICPA team that is writing IFRS questions for the CPA exam. Peter has worked for several firms and companies, such as Price Waterhouse, Victoria's Secret Catalogue, Gap Inc. Direct, GBQ Partners, Barnett Bank, C&S National Bank, and Franklin University. He is a member of the American Institute of CPAs and the Ohio Society of CPAs, and is currently the chair of the Ohio Society of CPAs' executive board of directors and a member of the AICPA governing council. Peter has a bachelor's degree in Business Administration from the University of Kentucky, and a master's degree in Accountancy from Case Western Reserve University.

How CCH Webinars Work

CCH's live webinars require nothing more than an internet and a telephone connection. For the single per-site fee, you can have an unlimited number of listeners at your site participate, get up to speed and in-the-know on important topics, and get special bonus publications included with the seminar. Handout materials are provided in PDF format that you can download and copy for all those who will participate in the seminar at your location.

Practice Development Tip! Invite colleagues, business referral sources, clients and prospects to your office to listen in and participate on this seminar with you. They'll appreciate your invitation to hear directly about this important topic.

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Earn CPE Credit
  • Two hours CPE credit. One free CPE certificate for one person is provided with each site registration. CPE certificates are available for $25 each for each additional person wishing to receive CPE credit for their participation
  • Course Level: Intermediate
  • Prerequisite: Accounting knowledge of U.S. GAAP and/or basic IFRS
  • NASBA Field of Study: Accounting
  • Learn More About CCH’s NASBA Registration
Special Gift

Firms registering for this seminar will receive as a bonus the following publication: A complimentary gift copy of CCH's Top Accounting Issues for 2011

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If you are unable to attend this upcoming event and would like to order a recording—or if you would like to order recordings of past CCH Seminars, please visit the CCH Seminar Archive Library today.
(Note: CPE credit is not available for the CD version of the presentation.)

  • Site License: $249 — Registration includes one internet connection and one telephone connection at one location, one master set of handouts (with permission to make additional copies for the participants at your location), an unlimited number of people in one listening room can participate, and one seminar bonus publication per registered site.  Each Site License registration includes one free CPE certificate for one person at your site. Additional CPE certificates are available for $25 each for each additional person wishing to receive CPE credit for their participation.
  • CD Recording: $249 — The CD includes an audio recording of the event and handout materials in PDF format. Includes copy of seminar bonus publication with purchase. Available one week after the live seminar event. (Note: CPE credit is not available for the CD version of the presentation.)
  • Site License and CD Recording Package: $349 — This specially-priced package provides you with the Site License access to the live seminar event AND the CD Recording.
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Register Today for Only $249 Per Site and Have an Unlimited Number of Users Participate!

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