IFRS Video Learning Center

The transition to IFRS in the US will have a significant impact on many areas of a company's business. A critical part of the transition process is identifying and addressing those areas that will be most affected by a conversion to IFRS. To assist companies in this process, PwC has established the IFRS Video Learning Center. The Center consists of a series of IFRS technical sessions designed to assist companies in identifying the differences between IFRS and US GAAP, and to help them assess the areas of their business that will be most impacted.

These sessions, which are available for on-demand viewing, will be released on a periodic basis and will each feature PwC IFRS specialists. Each session will consist of several discussion topics that each last approximately 30 minutes and can be individually viewed once logged in.

We hope you find these sessions helpful and look forward to your feedback on how we can make them more valuable to you.

Please note that these videos were created in 2008 and do not include the current proposed changes to the standards.

First-time adoption, revenue recognition and provisions & contingencies

This session contains three separate courses designed to give you an overview of the guidance regarding the first time adoption of IFRS, revenue recognition and provisions & contingencies.
  Session courses:
First-time adoption
Revenue recognition
Provisions & contingencies

Impairments and noncurrent assets

Noncurrent assets make up a significant portion of many companies' balance sheets, and are a critical part of the operations of a business. Adopting IFRS may have a significant impact on how those amounts are reported, as well as affecting how they are measured for impairment. This session contains three webcasts covering the important aspects of accounting for noncurrent assets.
  Session courses:
Impairments of nonfinancial assets
Internally generated intangibles
Property, plant and equipment

Business transactions

Business transactions are an important part of many companies' business strategies. In this session, PwC professionals walk through the often complex accounting for some of the most common business transactions including business combinations, leasing arrangements and investing activities while discussing the key differences between US GAAP and IFRS in these areas.
  Session courses:
Business combinations

Employee benefits

The benefits employees receive can take many different forms including cash, deferred compensation, non-cash awards and post-employment benefits. This session contains two courses that cover the accounting under IFRS, and where there are differences from US GAAP, for the most common types of employee benefits: pensions and share-based payments.
  Session courses:
Share-based payment

Financial instruments

Financial instruments form an important part of businesses. From debt financing and hedging strategies to transfers and classification of financial assets, the accounting for financial instruments can be quite complex. The courses present the accounting for financial instruments in simple, understandable steps, and will highlight some important differences between IFRS and US GAAP.
  Session courses:
Hedge accounting
Debt vs. equity
Classification, measurement & impairment

Income taxes

This webcast explores income taxes, in particular, the accounting under IAS 12, Income Taxes. PwC IFRS specialists will walk participants through the fundamental concepts and accounting principles in IAS 12 as well as the key provisions in the standard such as tax base, intercompany transactions, outside basis differences, uncertain tax positions, stock-based compensation, presentation, and others. Throughout the webcast, similarities and differences between IFRS and US GAAP framework are comparatively presented. Presenters will also look ahead and discuss the exposure draft issued by the IASB on income taxes and its implications.
  Session courses:
Income taxes

Industry sector sessions each feature PwC IFRS sector specialists and consist of IFRS discussion topics relating to specific industries. Be sure to check back regularly if your industry or sector is not currently listed as these sessions are currently under development and will be released on a periodic basis as they are completed.

Industry sector session: Energy

These courses explore IFRS guidance in upstream oil and gas accounting as well as property, plant, and equipment in the energy sector.

Each course features PwC IFRS specialists discussing key differences between US GAAP and IFRS along with practical examples of what energy companies should consider in these areas as they embark on their transition to IFRS.
  Session courses:
Property, plant & equipment (Energy)
Upstream oil & gas (Energy)

Industry sector session: Utilities

Property, plant and equipment typically represents a significant line item on the balance sheets of utility companies. The PP&E course below features PwC IFRS specialists discussing key differences between US GAAP and IFRS along with practical examples of what utility companies should consider in the area of PP&E as they embark on their transition to IFRS.

Rate regulation is also widespread and significantly affects utilities and other rate-regulated entities. Many billions of dollars of ‘regulatory’ assets and liabilities are currently recognized in jurisdictions across the globe. Some of these jurisdictions are already converging to IFRSs. Clarifying the treatment of assets and liabilities arising from rate regulation in IFRSs is therefore important.

The second course provides a history of IASB discussions regarding rate regulation at the IASB as well as an overview of the current IASB project on rate regulation.
  Session courses:
Property, plant & equipment (Utilities)
IASB project on rate-regulated activities (Utilities)