IFRS - Review of the Standards

Overview:

This course will cover all of 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:

In this course, you will gain knowledge about the following topics:

• 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. government grants, business combinations, earnings per share, employee benefits, evets after reporting period, interim financial reporting, inventories, operating segments, related party transactions, share based payments, effects of changes in foreign exchange rates
• Specialized industries e.g. agriculture, mining, insurance, rate-regulated entities
• First-time adoption considerations
• Relevant resources

Learning Objectives:

Upon completing this course, you should be able to:

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

Who Will Benefit: