cranford

IFRS Course: International Financial Reporting Standards

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About Course

This comprehensive IFRS (International Financial Reporting Standards) Course is designed to help learners understand the principles, concepts, and practical application of IFRS in financial reporting. The course covers important IFRS standards, accounting treatments, financial statement presentation, recognition and measurement principles, and practical examples.

What Will You Learn?

  • Understand the fundamental concepts and principles of IFRS
  • Identify and apply relevant IFRS and IAS standards
  • Prepare and understand IFRS-compliant financial statements
  • Apply IFRS principles to practical accounting situations
  • Understand recognition, measurement and disclosure requirements
  • Analyze common IFRS accounting treatments

Course Content

Introduction to IFRS
Overview and objectives of IFRS Importance of IFRS in global financial reporting IFRS framework and fundamental principles IFRS vs. local accounting standards

Financial Statements
Presentation of financial statements Statement of financial position Statement of profit or loss and other comprehensive income Statement of changes in equity Statement of cash flows

Key IFRS Standards
IAS 1 – Presentation of Financial Statements IAS 2 – Inventories IAS 7 – Statement of Cash Flows IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 – Events After the Reporting Period IAS 16 – Property, Plant and Equipment IAS 36 – Impairment of Assets IAS 37 – Provisions, Contingent Liabilities and Contingent Assets IAS 38 – Intangible Assets IAS 40 – Investment Property IFRS 9 – Financial Instruments IFRS 15 – Revenue from Contracts with Customers IFRS 16 – Leases IFRS 10 – Consolidated Financial Statements IFRS 3 – Business Combinations

Practical IFRS Application
Recognition and measurement principles Accounting adjustments under IFRS Financial statement disclosures Practical examples and case studies Common IFRS accounting issues