IFRS: A Primer

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International Financial Reporting Standards (IFRS) are adopted by companies across the globe. This course provides you with an overview of IFRS, why it is important and how it relates to other accounting standards.

£100 +VAT

4 CPD hours

120 days’ access

Use ACPD101 for 10% off any purchase.

IFRS: A Primer

£100 +VAT

4 CPD Course 120 days’ access
Use ACPD101 for 10% off any purchase.

IFRS: A Primer

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

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

About the course

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.

Contents

An introduction to the IFRS regime

What is IFRS?
IASB and the IFRS Standards
The IFRS for SMEs
Not for everyone?
Global adoption of IFRS

IFRS financial statements

Explaining accounting policies
IAS 8 and accounting policies
Formatting financial statements
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

Understanding assets
Assets – definitions and concepts
Property, plant and equipment
Measurement subsequent to initial recognition
Intangible assets
Measuring and categorising intangible assets
Understanding impairment
The impairment of assets
Current assets

Accounting for liabilities

Liabilities and provisions
Definitions and concepts
Provisions, contingent liabilities and contingent assets
Contingent assets
Specific types of provision
A new standard for leasing
Leasing
Financial liabilities

Accounting for revenue and discontinued operations

Definitions and concepts
Revenue recognition
The importance of revenue recognition
Recognising revenue over time
Discontinued operations
Presenting discontinued operations

How it works

Author

Lisa Weaver

Lisa Weaver

After qualifying (ICAEW), Lisa spent several years in audit practice with Deloitte and was part of the national audit training faculty at KPMG. Since leaving practice, Lisa has worked in a variety of education-focused roles, including executive education and has maintained strong links with the accountancy professional bodies.