IFRS: A Primer

by Wayne Bartlett
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Find out about the core aspects of financial reporting under IFRS
  • Understand the importance of IFRS and the role of The International Accounting Standards Board (IASB)
  • Get to grips with the standards and how they are applied in practice, including accounting for assets and liabilities
  • Understand the IFRS framework and how it relates to other local standards
  • Refresh your knowledge and understanding of IFRS

Companies all over the world account under International Financial Reporting Standards (IFRS) so as an accountant it's important to have a grasp on these standards and how they are applied.

Whether you're looking for a refresher or just want to familiarise yourself with IFRS, this course provides an overview of IFRS and how to report under these standards. Not only will you learn about the IFRS regulatory framework, fundamental accounting concepts, and developing accounting policies, you'll also explore how to account for assets, liabilities, income, and expenses.

An introduction to the IFRS regime

  • IASB and the IFRS Standards
  • The IFRS for SMEs
  • Global adoption of IFRS

IFRS financial statements

  • Accounting policies
  • Presentation of financial statements
  • The statement of financial position
  • The statement of profit or loss and other comprehensive income
  • The statement of changes in equity
  • The statement of cash flows

Accounting for assets

  • Assets - definitions and concepts
  • Property, plant, and equipment
  • Measurement subsequent to initial recognition
  • Discussing PPE measurement
  • Intangible assets
  • Measuring and categorising intangible assets
  • The impairment of assets
  • Current assets

Accounting for liabilities

  • Provisions, contingent liabilities, and contingent assets
  • BP's provisions and the Gulf of Mexico oil spill
  • Specific types of provision
  • Leasing
  • Financial liabilities

Accounting for revenue and discontinued operations

  • Revenue recognition
  • Recognising revenue over time
  • Discontinued operations

Dr Wayne Bartlett specialises in public sector financial management and budgeting and has worked as a consultant and lecturer throughout the world. After 7 years in the NHS in the UK, he joined the Home Office as Head of Accountancy Advice. He has worked closely with a number of Supreme Audit Institutions and has become an expert of the implementation of international accounting standards.

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