IFRS (Review Of The Standards)

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

Specifically, this course covers all of the IFRS incorporated as part of CPA Canada Handbook – Accounting – Part I, including standards that apply to most profit-oriented entities.

In addition, we will cover IFRS standards currently under development at the International Accounting Standards Board (IASB), which expects the standards to undergo implementation during the next year, as well as the potential impact of these new standards on financial statements.

At the end of this two-day course, you will understand the foundation of IFRS and explain IFRS content. In order to relate the content to real life, the course provides examples and exercises that identify practical application issues. 

Course Content:

This course will cover several topics, including:  

• An overview of IFRS
• Conceptual framework and fair value measurement
• Financial statement presentation and accounting policies
• Property, plant, and equipment
• Investment property
• Intangible assets and fair value measurement
• Impairment of assets
• Revenue, financial instruments, income taxes, and liabilities
• Strategic investments and separate financial statements
• Other IFRS standards
• First-time adoption considerations
• Examples and exercises to illustrate application issues 

Learning Objectives:

Upon completing this course you will acquire the ability to:  

• Explain the IFRS standards that apply to most profit-oriented entities
• Identify changes to IFRS and impact on financial statements
• Summarize current developments in IFRS
• List relevant resources (with links)