This one lesson course explores the impact of Canada's adoption of International Financial Reporting Standards (IFRS) on the appraisal community.
This one lesson course explores the impact of Canada's adoption of International Financial Reporting Standards (IFRS) on the appraisal community.
The course begins with an overview of basic accounting principles, with an overview of differences between the GAAP and IRFS accounting techniques and the implications for real estate. The course examines potential valuation opportunities arising from IFRS and what individual appraisers can do to take advantage of this opportunity.
Please note: This course is intended to be introduction to this area of practice and is not sufficient in itself to make students experts in this highly specialized field.
Course Outline
Foreword: Introduction to Professional Development Courses
Lesson 1: Valuation for Financial Reporting - Valuation Opportunities
Instructor's Comments
Review of Basic Accounting Concepts
Financial Reporting Standards in Canada
Three Levels of Financial Reporting
Evolution of International Accounting Standards
Pressure of Globalization
The Move to IFRS
Who is Affected By IFRS?
Major Differences Between GAAP and IFRS
Asset Valuation/Measurement Under IFRS
Looking Forward: Who Will Complete IFRS Valuation Work?
IFRS Disclosures
Case Study 1: First Capital Realty
Case Study 2: Homburg Invest Inc.
The International IFRS Experience for Appraisers
Launch of IFRS
Valuation Under IFRS
Canadian IFRS Valuation Opportunities
Capacity of the Appraisal Industry
Appraisal Practice Challenges Anticipated With IFRS
Client Requirements
Reporting Land and Improvement Values
Strategic Alliances
Preparing Yourself and Your Firm
Lesson Summary
Review and Discussion Questions
Glossary of Terms
Afterword
The Final Examination
Pre-requisite:
Recommend a thorough understanding of commercial property valuation. Knowledge of basic accounting is an asset.
UBC Sauder is accredited by AACSB, which provides internationally recognized, specialized accreditation for business and accounting programs at the bachelor’s, master’s, and doctoral levels.
AACSB Accreditation is known worldwide as the longest standing, most recognized form of specialized accreditation an institution and its business programs can earn.
Students will begin their studies by learning how to develop comprehensive financial statements for public companies as well as a broad discussion on International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE).
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).
Stay current in IFRS with the CPA CPD courses seminars ranging from IFRS current standards to changes coming each year in the IFRS updates such as Revenue, Leases, and Financial Instruments.
The objective of this seminar is to teach participants about the major differences between IFRS and GAAP and to make them comfortable with IFRS reporting and convergence.
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