Gain fundamental knowledge of compliant IFRS financial statements
Understand the basic guidelines of IFRS 10, Consolidated Financial Statements, and IAS 27, Separate Financial Statements. Build a foundation that will empower you to better assist clients subject to IFRS requirements.
You will learn key concepts, including:
- consolidation requirements and exemptions:
- investment entity accounting:
- consolidation procedures: and
- classification of investments by type in the investor's separate financial statements (subsidiaries, associates, joint arrangements, and financial assets).
Compete effectively in the modern business environment
Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards®.
Whatever your location, you could easily find yourself with a client subject to IFRS requirements.
Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.
Hands-on learning to enhance comprehension
The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course.
The real-world case studies will enable you to apply the core principles of IFRS 10 and IAS 27 to better assist your clients.
Who Will Benefit
- Accounting and finance professionals who work for
private or public multinational organizations that have adopted IFRS
Standards.
- Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.
Key Topics
- Defining control
- Exemptions from consolidation requirements
- Investment entity accounting
- Consolidation procedures
- Consolidated statements, comprehensive income, and
goodwill
- Classifying investments by type in the investor's
separate financial statements (subsidiaries, associates, joint arrangements,
and financial assets).
- Recognition, measurement, and disclosure requirements
Learning Outcomes
- Recall how investments are recognized in the separate
financial statements of the investor.
- Identify which entities must prepare consolidated
financial statements and which exemptions are available.
- Recall how the principle of control, as defined in
IFRS 10, is applied to determine whether an investor (parent) controls another
entity (investee).
- Indicate how the accounting requirements are applied to prepare consolidated financial statements as defined in IFRS 10.