IFRS - Essentials
Overview:
Do you need to know IFRS at a high level? Need a quick update on the basics of IFRS? This course provides you with an understanding of the essentials of Part I - International Financial Reporting Standards (IFRS). The course is aimed at participants who want to know what IFRS is about but do not have to implement the standards and understand all the technical details.
The objective of this course is to provide you with an understanding of the essentials of Part I - International Financial Reporting Standards (IFRS).
This course covers the essentials of International Financial Reporting Standards (IFRS) but not all of the technical details required for implementation. The course provides a brief discussion on the types of entities using IFRS, the impact of IFRS standards on the development of ASPE standards, discusses key concepts, examines the conceptual framework, provides a description of IFRS terminology, and reviews the basics of IFRS financial statements. At the end of this course, you will be aware of the essentials of IFRS, the types of financial statements, and their impact on financial statements.
Course Content:
In this course you will gain knowledge about the following topics:
- IFRS – what is it and who needs it?
- The framework – concepts, fair value measurement and definitions
- Statement of Financial Position
- Statement of Comprehensive Income
- Statement of Changes in Equity
- Cash Flow Statement
- Notes
- Resources
Learning Objectives:
Upon completing this course, you should be able to:
- Identify who is required or may elect to use IFRS standards
- Identify basic IFRS concepts and terminology
- Identify IFRS financial statements
- List relevant resources (with links)
Who Will Benefit:
Accounting professionals who are not required to practice IFRS, but would like a brief high level overview of the concepts and financial statements. It is not applicable for those who have recently taken a course in IFRS or want to understand the technical details.