IFRS - Review of the Standards

Overview:

All professionals, even experts, can benefit from a solid review of their foundational knowledge. The objective of this seminar is to provide you with a solid introduction to Part I - International Financial Reporting Standards (IFRS).

This course covers all the International Financial Reporting Standards (IFRS) incorporated as part of CPA Canada Handbook – Accounting – Part I. The focus is on the IFRS standards that apply to most profit-oriented entities.   At the end of this two-day course you will be aware of the foundation of IFRS and be able to explain IFRS content. Examples and exercises are incorporated throughout the session for you to identify application issues.

Course Content:

This course will cover several topics, including:  

• Overview of IFRS
• Conceptual framework and fair value measurement
• Financial statement presentation
• Revenue
• Property plant and equipment
• Investment property
• Intangible assets
• Impairment of assets
• Leases
• Financial instruments
• Income taxes
• Liabilities
• Strategic investments and separate financial statements
• Other IFRS standards e.g. interim financial reporting, related party transactions, employee benefits
• Specialized industries e.g. agriculture, mining, insurance, rate-regulated entities
• First-time adoption considerations
• Relevant resources

Learning Objectives:

Upon completing this course you will acquire the ability to:  

• Identify who is required or may elect to use IFRS standards
• Explain the IFRS standards that apply to most profit-oriented entities
• Identify changes to IFRS and impact on financial statements
• List relevant resources (with links)

Who Will Benefit: