Mastering International Financial Reporting Standards (Ifrs)

Master IFRS accounting standards from adoption to financial reporting with practical examples and expert guidance.

What you'll learn

IFRS Adoption: Understand the process and implications of transitioning to International Financial Reporting Standards (IFRS).

IFRS Categories and Framework: Explore the categories and conceptual framework of IFRS, gaining insights into its structure and principles.

First-Time Adoption: Learn the requirements and exemptions for first-time adoption of IFRS, including reporting and disclosure obligations.

Share-Based Payments: Grasp the complexities of accounting for share-based payment transactions, including valuation techniques and disclosures.

Business Combinations: Understand the accounting treatment for business combinations, including recognition, measurement, and goodwill calculation

Insurance Contracts: Dive into the accounting standards for insurance contracts, covering initial recognition, subsequent measurement, and disclosure

Non-Current Assets and Discontinued Operations: Learn how to classify, measure, and disclose non-current assets held for sale and discontinued operations

Exploration for Mineral Resources: Explore the accounting treatment for exploration and evaluation of mineral resources, including impairment and disclosures.

Financial Instruments Disclosures: Understand the disclosure requirements for various financial instruments, including qualitative and quantitative disclosures

Operating Segments: Learn about segment reporting and reconciliation under IFRS 8, including comparative segment reporting and entity-wide disclosures.

Consolidated Financial Statements: Master the consolidation model and exceptions under IFRS 10 for preparing consolidated financial statements.

Joint Arrangements: Understand the accounting for joint arrangements, including types, assessments, and financial statements presentation.

Disclosure of Interests in Other Entities: Gain insights into disclosure requirements for interests in subsidiaries, joint arrangements

Fair Value Measurement: Learn about fair value concepts, measurement techniques, and disclosures under IFRS 13.

Regulatory Deferral Accounts: Understand the accounting treatment and presentation of regulatory deferral accounts, including disclosures and examples.

Requirements

Basic Accounting Knowledge: Familiarity with fundamental accounting principles and concepts is essential to grasp the advanced topics covered in the course.

Financial Reporting Understanding: A solid understanding of financial reporting standards and practices will facilitate comprehension of IFRS principles and requirements.

Proficiency in Excel: Basic proficiency in Microsoft Excel is recommended, as some lectures include Excel examples and illustrations to reinforce concepts.

Financial Analysis Skills: Basic skills in financial analysis will aid in interpreting financial statements and understanding the implications of adopting IFRS.

Previous Course Completion: Completion of an introductory accounting or financial reporting course can provide a foundation for more advanced topics covered in this course.

Description

Welcome to our comprehensive course on International Financial Reporting Standards (IFRS)! In this course, we will delve deep into the intricacies of IFRS, providing you with a thorough understanding of its principles, standards, and applications in the global financial landscape.IFRS has become the benchmark for financial reporting in many countries around the world, fostering transparency, comparability, and reliability in financial statements across diverse industries and markets. As such, proficiency in IFRS is essential for finance professionals, accountants, auditors, and anyone involved in financial reporting.Throughout this course, you will embark on a structured journey through various sections, each dedicated to key IFRS standards and topics. From the fundamental concepts of IFRS adoption to complex areas such as share-based payments, business combinations, and fair value measurement, we will cover a wide spectrum of topics to equip you with the knowledge and skills necessary to navigate the complexities of international financial reporting.Whether you're a seasoned finance professional looking to enhance your expertise or a student aspiring to build a solid foundation in financial reporting standards, this course is designed to meet your learning needs. Through a combination of theoretical explanations, practical examples, and Excel demonstrations, we aim to provide you with a comprehensive learning experience that will empower you to apply IFRS principles with confidence in real-world scenarios.Join us on this educational journey as we unravel the nuances of IFRS and unlock the doors to a deeper understanding of international financial reporting standards. Let's embark on this enriching learning adventure together!Section 1: IFRS 1: Time Adoption of IFRSIn this section, students will gain an understanding of the initial adoption of International Financial Reporting Standards (IFRS) and its implications. The lectures cover the introduction to the course, categories, and conceptual framework of IFRS. They delve into the objectives of IFRS 1, exemptions, reporting, and disclosure requirements, providing Excel examples to reinforce learning.Section 2: IFRS 2: Share-Based PaymentThis section focuses on share-based payment transactions, including valuation techniques, equity, and cash-settled transactions. Students will learn about the disclosure requirements associated with share-based payments, with practical Excel examples to illustrate concepts.Section 3: IFRS 3: Business CombinationsHere, students will explore the accounting treatment for business combinations under IFRS 3. Lectures cover objectives, definitions, recognition, and measurement of business combinations, along with examples to reinforce understanding. The section also addresses non-controlling interests, goodwill, and disclosure requirements.Section 4: IFRS 4: Insurance ContractsIn this section, students will learn about the accounting for insurance contracts according to IFRS 4. Topics include the initial recognition and measurement of insurance contracts, subsequent measurement, modifications, and disclosures. Excel examples are provided to demonstrate calculations and concepts.Section 5: IFRS 5: Non-Current Assets and Discontinued OperationsThis section covers the accounting treatment for non-current assets held for sale and discontinued operations under IFRS 5. Students will learn about classification criteria, measurement, and disclosure requirements through lectures and Excel presentations.Section 6: IFRS 6: Exploration for and Evaluation of Mineral ResourcesStudents will gain insights into the accounting for exploration and evaluation of mineral resources under IFRS 6. The lectures cover definitions, impairment testing, presentation, and disclosures related to mineral resources, supplemented with Excel examples for depreciation and revaluation.Section 7: IFRS 7: Financial Instruments - DisclosuresIn this section, students will learn about the disclosure requirements for financial instruments under IFRS 7. Topics include objectives, qualitative and quantitative disclosures, and examples of financial instrument disclosures, supported by Excel illustrations.Section 8: IFRS 8: Operating SegmentsThis section focuses on operating segment reporting according to IFRS 8. Students will explore the scope, identification, and reporting of operating segments, along with reconciliation and entity-wide disclosures. Excel examples are provided to enhance understanding.Section 9: IFRS 10: Consolidated Financial StatementsHere, students will delve into the principles of consolidated financial statements under IFRS 10. Lectures cover the consolidation model, exceptions, and examples of consolidated financial statements, facilitating comprehension.Section 10: IFRS 11: Joint ArrangementsStudents will learn about joint arrangements and their accounting treatment under IFRS 11. Lectures cover joint control assessment, types of joint arrangements, financial statement presentation, and Excel examples to reinforce learning.Section 11: IFRS 12: Disclosure of Interests in Other EntitiesThis section addresses the disclosure requirements for interests in other entities under IFRS 12. Students will learn about disclosures related to subsidiaries, joint arrangements, and unconsolidated structured entities, supported by Excel examples.Section 12: IFRS 13: Fair Value MeasurementIn this section, students will gain an understanding of fair value measurement principles according to IFRS 13. Lectures cover concepts, valuation techniques, initial recognition, and disclosures, with Excel examples to illustrate calculations and concepts.Section 13: IFRS 14: Regulatory Deferral AccountsThe final section explores regulatory deferral accounts and their accounting treatment under IFRS 14. Students will learn about the overview, accounting, presentation, and disclosures related to regulatory deferral accounts, supplemented with Excel examples for better comprehension.

Overview

Section 1: IFRS 1: Time Adoption of IFRS

Lecture 1 Introduction to Course

Lecture 2 IFRS Categories and IFRS Conceptual Framework

Lecture 3 IFRS Conceptual Framework and Excel Example

Lecture 4 IFRS Conceptual Framework

Lecture 5 Objectives of IFRS 1

Lecture 6 IFRS 1 Excel Example

Lecture 7 First Time Adoption and Excel Example

Lecture 8 Exemptions

Lecture 9 Reporting and Disclosure

Section 2: IFRS 2: Share-Based Payment

Lecture 10 Introduction to IFRS 2

Lecture 11 Valuation Techniques

Lecture 12 Equity and Cash settled SBP Transactions

Lecture 13 Share Based Payment Disclosures

Lecture 14 Excel Example

Lecture 15 Conclusion IFRS 2

Section 3: IFRS 3: Business Combinations

Lecture 16 Introduction to Business Combination

Lecture 17 Objectives and Definitions

Lecture 18 Acounting for Business Combination

Lecture 19 Examples

Lecture 20 Recognize NCI Interests

Lecture 21 Acquisition Date Example

Lecture 22 Goodwill

Lecture 23 Acquisition Issues and Disclosures

Section 4: IFRS 4: Insurance Contracts

Lecture 24 Introduction to IFRS 4 Insurance Contracts

Lecture 25 Insurance Contract

Lecture 26 Significant Risk

Lecture 27 Types and Portfolio

Lecture 28 Initial Recognition and Measurement with Excel Examples

Lecture 29 Subsequent measurement and Modification and Recognition

Lecture 30 Disclosures and Conclusion

Section 5: IFRS 5: Non Current Assets and Discontinued Operations

Lecture 31 Introduction to Course

Lecture 32 Objective and Accounting

Lecture 33 Conditions and Excel Examples

Lecture 34 Held for Sale Classification and Excel Illustration

Lecture 35 Held for Sale Classification and Measurement

Lecture 36 Disclosures and Discontinued Ops

Lecture 37 Excel Presentation

Section 6: IFRS 6: Exploration for and Evaluation of Mineral Resources

Lecture 38 Introduction and Table of Contents

Lecture 39 Definitions and Accounting for Mineral Resources

Lecture 40 Accounting for Mineral Resources

Lecture 41 Impairment of Mineral Resources

Lecture 42 Presentation and Disclosures

Lecture 43 Excel example Depreciation Calculation

Lecture 44 Excel Example Revaluation Model

Lecture 45 Excel Example Revaluation Model Continued

Section 7: IFRS 7: Financial Instruments-Disclosures

Lecture 46 Introduction to FI Disclosures

Lecture 47 Objectives of Fl

Lecture 48 Other Disclosures

Lecture 49 Examples Of Fl

Lecture 50 Qualitative and Quantitative Disclosures

Section 8: IFRS 8: Operating Segments

Lecture 51 Introduction to Course

Lecture 52 Objectives of Operating Segments and Scope

Lecture 53 Operating Segment

Lecture 54 Segment Reporting

Lecture 55 Comparative Segment Reporting and Excel Example

Lecture 56 Segment Reporting Disclosure

Lecture 57 Reconciliation and Entity-Wide Disclosures

Lecture 58 Segment Reporting Excel Example

Lecture 59 Segment Reporting Excel Example Continued

Section 9: IFRS 10: Consolidated Financial Statements

Lecture 60 Introduction to IFRS 10

Lecture 61 Consolidation Model and Consolidation

Lecture 62 Examples and Exceptions

Section 10: IFRS 11: Joint Arrangements

Lecture 63 Introduction to Course

Lecture 64 Summary of Investments Excel chart

Lecture 65 Objective and Assessment of Joint Control

Lecture 66 Types of Joint Arrangements and Excel Chart

Lecture 67 Accounting for Joint Arrangements

Lecture 68 Financial Statements Presentation and Excel Examples

Section 11: IFRS 12: Disclosure of Interests in Other Entities

Lecture 69 Introduction to Course

Lecture 70 Attributes of Sufficient Disclosures

Lecture 71 Interests in Subsidiaries Disclosures

Lecture 72 Interests in Unconsolidated Structured Entities Disclosures

Lecture 73 Interests in Joint Arrangements

Lecture 74 Excel Examples

Lecture 75 Excel Examples Continued

Section 12: IFRS 13: Fair Value Measurment

Lecture 76 Introduction to Course

Lecture 77 Objectives and Concepts

Lecture 78 Principal and Most Advantageous Market Excel Example

Lecture 79 Highest and Best Use Concept and Excel Example

Lecture 80 Measurement of Liabilities and Equity

Lecture 81 Measurement of a Group of Financial Assets

Lecture 82 Initial Recognition and Excel Example

Lecture 83 Valuation Techniques

Lecture 84 Fair Value Disclosures

Lecture 85 Fair Value Disclosures and Excel Examples

Section 13: IFRS 14: Regulatory Deferral Accounts

Lecture 86 Introduction to Course

Lecture 87 Overview and Accounting for Regulatory Deferral Accounts

Lecture 88 Regulatory Deferral Accounts Presentation

Lecture 89 Regulatory Deferral Accounts Disclosures and Excel Examples

Accounting Professionals: Certified public accountants (CPAs), auditors, financial analysts, and other accounting professionals seeking to enhance their knowledge of International Financial Reporting Standards (IFRS) and stay updated with regulatory changes.,Finance Managers: Finance managers, controllers, and CFOs responsible for financial reporting and compliance within their organizations.,Students Pursuing Accounting Degrees: Undergraduate and graduate students studying accounting or finance who want to deepen their understanding of IFRS principles and applications.,Corporate Training Programs: Companies providing professional development and continuing education opportunities for their finance and accounting teams to ensure compliance with IFRS.,Consultants and Advisors: Financial consultants, advisors, and educators looking to expand their expertise in IFRS to better serve their clients or students.