IFRS - Essentials

Note: The Live Virtual course is presented in collaboration with CPABC. The content is applicable to all participants. If you have questions regarding this course, please contact pdregistration@cpaalberta.ca. 

Overview: 

Elevate your financial knowledge with IFRS - The Essentials, a course designed to give you a high-level understanding of the International Financial Reporting Standards (IFRS). Perfect for professionals seeking a quick overview, this course demystifies the core principles of IFRS without overwhelming you with the intricacies of implementation.

Discover the key concepts that drive international accounting and stay informed about global financial practices. With our expert guidance, you’ll navigate the essentials of IFRS with ease and confidence.

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 its 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
• Relevant 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.