2020-21 Update: IFRS

by Wayne Bartlett

The coronavirus pandemic has many implications for financial reporting. This course takes you through areas affected and looks at how you need to adapt your financial reports accordingly.

This course is not currently available

This course will enable you to

  • Identify the areas of risk in your supply chain from suppliers unable to honour commitments to customers unable to pay
  • Evaluate subjective issues such as the collectability of revenue and accounting for provisions
  • Identify exposures to asset and goodwill impairments, from present and past acquisitions
  • Decide what disclosures are necessary and how to make them without spooking the market
  • Use the interim report to share information with investors and other stakeholders at the appropriate time
  • Understand the proposals of the recent exposure draft on General Presentation and Disclosures and have your say with the standard setters

About the course

The coronavirus pandemic has transformed the financial performance of many companies and the financial reporting implications of this are deep and far reaching. This year's IFRS updates course focuses on three areas that are particularly affected by the crisis: the increased risk the pandemic has created for long term projects; the critical issue of interim reporting, what to include and when; and the balance sheet exposure caused by the valuation of assets and goodwill in current and past acquisitions.

The final module looks an area where change is on the horizon. The recent exposure draft on General Presentation and Disclosures proposes some pretty fundamental changes to IAS 1, a founding statement in the IFRS framework, and the way in which financial statements are presented – and it is still open for comment, so you can have your say.

Look inside

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Contents

  • Accounting for major projects
    • The importance of major projects
    • Potential issues with major projects
    • Accounting for revenue
    • Accounting for provisions
    • Collectability of revenues
    • Grace under pressure
    • Practical considerations
  • Interim reporting
    • The importance of interim reports
    • Interim reporting in turbulent times
    • IAS 34 Interim Financial Reporting
    • Contents of an interim financial report
    • Making a bad situation worse
    • Disclosures
    • Comparative information and materiality
    • Recognition and measurement
  • Business combinations
    • Company valuations in turbulent times
    • The value of business combinations
    • Disclosures
    • The goodwill impairment test
    • Managing the message
    • Amortisation of goodwill
    • Intangible assets
  • General presentation and disclosures
    • Exposure Draft ED/2019/7
    • Improving the structure of statements
    • Changing the statement of profit or loss
    • Operating and investing categories
    • The operating category
    • The investing category
    • Integral and non-integral associates and joint ventures
    • Management performance measures
    • Performance measures – what to include

How it works

Author

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and extensively involved in developing financial reporting in many countries across the globe.

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This course is not currently available. To find out more, please get in touch.