International Financial Reporting Standards (IFRS) are used in over 120 countries; U.S. companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. This course provides instruction in accounting under IFRS within the context of U.S. accounting standards. Practical and easy-to-use, the course includes a case study of a first-time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS. Clarifying IFRS, its impact on U.S. companies, and where to start in understanding it, this course prepares U.S. accountants to be knowledgeable with day-to-day financial accounting issues using IFRS' substantial similarity with U.S. GAAP as a context.