What does the IFRS Standards course cover?
IFRS Standards is covered here in 13 modules: Introduction to IFRS: Overview of IFRS and its history, Financial Statement Presentation: Disclosure requirements for financial statements, Revenue Recognition: Recognizing revenue and disclosure requirements and 10 more. The outline lists 52 specific topics, opening with Overview of IFRS and its history and closing with best practices in financial analysis and interpretation.
How do you approach IFRS Standards step by step?
The work is sequenced in 13 stages. It starts with Introduction to IFRS: Overview of IFRS and its history, moves through Financial Statement Presentation: Disclosure requirements for financial statements and Revenue Recognition: Recognizing revenue and disclosure requirements, and ends at Financial Analysis and Interpretation: Best practices in. Each stage carries its own topic list, so the sequence is followed rather than summarised.
What is in Module 1 of the IFRS Standards course?
Module 1 is Introduction to IFRS: Overview of IFRS and its history. It works through Overview of IFRS and its history, Benefits and challenges of adopting IFRS, Structure and governance of the International Accounting Standards Board (IASB) and 1 more. It sets the vocabulary the remaining 12 modules build on.
How is the IFRS Standards course delivered?
The IFRS Standards course is fully self-paced with immediate online access after enrolment. Access does not expire and future updates are included at no cost. It can be taken on any device, and a certificate of completion is issued by The Art of Service when you finish.
How much does the IFRS Standards course cost?
The IFRS Standards course is $199 as a one time payment. There is no subscription, no per seat licence and no hidden fee. Enrolment carries a 30 day satisfied or refunded guarantee, so it can be assessed in full before you commit.
Closely related courses: International Financial Reporting Standards (IFRS).
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Mastering IFRS Standards: A Comprehensive Guide to Financial Reporting
Course Overview
This comprehensive course is designed to provide professionals with a deep understanding of International Financial Reporting Standards (IFRS) and their application in financial reporting. The course is interactive, engaging, and practical, with a focus on real-world applications and case studies.Course Objectives
- Understand the conceptual framework of IFRS and its application in financial reporting
- Learn to prepare and present financial statements in accordance with IFRS
- Understand the accounting treatment of various assets, liabilities, and equity instruments under IFRS
- Develop skills in financial analysis and interpretation of financial statements prepared under IFRS
- Stay up-to-date with the latest developments and changes in IFRS
Course Outline
Module 1. Introduction to IFRS: Overview of IFRS and its history
- Overview of IFRS and its history
- Benefits and challenges of adopting IFRS
- Structure and governance of the International Accounting Standards Board (IASB)
- Understanding the IFRS conceptual framework
Module 2. Financial Statement Presentation: Disclosure requirements for financial statements
- Understanding the requirements of IAS 1: Presentation of Financial Statements
- Preparing and presenting financial statements in accordance with IFRS
- Classification and presentation of assets, liabilities, and equity
- Disclosure requirements for financial statements
Module 3. Revenue Recognition: Recognizing revenue and disclosure requirements
- Understanding the requirements of IFRS 15: Revenue from Contracts with Customers
- Identifying performance obligations and determining transaction prices
- Allocating transaction prices to performance obligations
- Recognizing revenue and disclosure requirements
Module 4. Leases: Understanding the requirements of IFRS 16
- Understanding the requirements of IFRS 16: Leases
- Identifying lease arrangements and determining lease terms
- Measuring lease liabilities and right-of-use assets
- Accounting for lease modifications and disclosure requirements
Module 5. Financial Instruments: Disclosure requirements for, Understanding the requirements of IFRS 9
- Understanding the requirements of IFRS 9: Financial Instruments
- Classification and measurement of financial assets and liabilities
- Impairment of financial assets and hedge accounting
- Disclosure requirements for financial instruments
Module 6. Inventory and Agriculture: Measuring and valuing inventory
- Understanding the requirements of IAS 2: Inventories
- Measuring and valuing inventory
- Understanding the requirements of IAS 41: Agriculture
- Measuring and valuing biological assets and agricultural produce
Module 7. Property, Plant, and Equipment: Measuring and depreciating, Disclosure requirements for
- Understanding the requirements of IAS 16: Property, Plant, and Equipment
- Measuring and depreciating property, plant, and equipment
- Accounting for revaluations and impairment
- Disclosure requirements for property, plant, and equipment
Module 8. Intangible Assets: Amortizing and impairing, Identifying and measuring
- Understanding the requirements of IAS 38: Intangible Assets
- Identifying and measuring intangible assets
- Amortizing and impairing intangible assets
- Disclosure requirements for intangible assets
Module 9. Impairment of Assets: Disclosure requirements for impairment
- Understanding the requirements of IAS 36: Impairment of Assets
- Identifying and measuring impairment losses
- Accounting for impairment losses and reversals
- Disclosure requirements for impairment
Module 10: Provisions, Contingent Liabilities, and Contingent Assets
- Understanding the requirements of IAS 37: Provisions, Contingent Liabilities, and Contingent Assets
- Identifying and measuring provisions
- Accounting for contingent liabilities and contingent assets
- Disclosure requirements for provisions and contingencies
Module 11. Employee Benefits: Disclosure requirements for, Accounting for short-term and long-term
- Understanding the requirements of IAS 19: Employee Benefits
- Accounting for short-term and long-term employee benefits
- Measuring and accounting for defined benefit plans
- Disclosure requirements for employee benefits
Module 12. Income Taxes: Disclosure requirements for, Understanding the requirements of IAS 12
- Understanding the requirements of IAS 12: Income Taxes
- Accounting for current and deferred taxes
- Measuring and accounting for tax losses and credits
- Disclosure requirements for income taxes
Module 13. Financial Analysis and Interpretation: Best practices in
- Understanding financial statements and ratio analysis
- Analyzing and interpreting financial performance and position
- Using financial analysis to inform business decisions
- Best practices in financial analysis and interpretation
Course Features
- Interactive and engaging: The course includes interactive elements, such as quizzes, case studies, and group discussions, to keep participants engaged and motivated.
- Comprehensive and up-to-date: The course covers all the latest developments and changes in IFRS, ensuring participants have a thorough understanding of the standards.
- Practical and applicable: The course focuses on real-world applications and case studies, enabling participants to apply their knowledge in practice.
- Expert instruction: The course is taught by experienced professionals with expertise in IFRS and financial reporting.
- Certification: Participants receive a certificate upon completion of the course, issued by The Art of Service.
- Flexible learning: The course is designed to be flexible, allowing participants to learn at their own pace and convenience.
- User-friendly and mobile-accessible: The course is delivered through a user-friendly platform that is accessible on mobile devices.
- Community-driven: The course includes opportunities for participants to interact with each other and with instructors through discussion forums and group work.
- Actionable insights: The course provides participants with actionable insights and practical knowledge that can be applied in their work.
- Hands-on projects: The course includes hands-on projects and case studies that enable participants to apply their knowledge in practice.
- Bite-sized lessons: The course is broken down into bite-sized lessons, making it easy to digest and retain information.
- Lifetime access: Participants have lifetime access to the course materials, enabling them to revisit and refresh their knowledge as needed.
- Gamification and progress tracking: The course includes gamification elements and progress tracking, making it engaging and motivating.