Comparison of IFRS and GAAP standards and their application in cross-border business transactions.
Course overview
This course explores the key differences between International Financial Reporting Standards (IFRS) and Canadian generally accepted accounting principles (GAAP). You will learn how these standards are applied in cross-border business transactions and why understanding both frameworks is essential for modern accountants and financial professionals.
Through case studies and practical examples, you will gain the skills to prepare, compare, and analyse financial statements under different reporting regimes. This course is designed for students who want to work in multinational environments or pursue careers in global finance.
Who takes this course
This course is an elective for students in the following programs:
Credits: 3 · Hours: 45
Prerequisites
Learning outcomes
- Compare International Financial Reporting Standards (IFRS) with Canadian generally accepted accounting principles (GAAP)
- Prepare financial statements under both IFRS and GAAP for the same entity
- Analyse the impact of accounting standard differences on cross-border business transactions
- Evaluate the role of the International Accounting Standards Board in global financial reporting
- Communicate financial reporting differences to stakeholders in a business context
Evaluation
| Component | Weight (%) |
| Midterm examination | 30 |
| Case study analysis | 25 |
| Final examination | 45 |