IFRS - Review of the Standards (VO)
Review all the International Financial Reporting Standards (IFRS) incorporated as part of CPA Canada Handbook – Accounting Part I with a focus on profit-oriented entities. Information on IFRS standards currently under development and the potential impact on financial statements will also be covered.
Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session.
After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.
Click HERE for more information on Video-On-Demand courses.
The objective of this seminar is to provide participants with a solid introduction to Part I - International Financial Reporting Standards (IFRS). The seminar will also cover IFRS standards currently under development at the International Accounting Standards Board (IASB) that are expected to be introduced during the next year.
The seminar will cover all of the International Financial Reporting Standards (IFRS) incorporated as part of CPA Canada Handbook – Accounting Part I. The focus is on the IFRS standards that apply to most profit-oriented entities. Participants will also be provided with information on IFRS standards currently under development and the potential impact on financial statements. At the end of this two-day seminar, you will be aware of the foundation of IFRS and be able to explain IFRS content. Examples and exercises are incorporated throughout the session for you to identify application issues.
WHO WILL BENEFIT:
Professionals who work in financial reporting and related areas of publicly accountable enterprises or other enterprises applying IFRS, who are reading financial statements of publicly accountable enterprises, or who wish to be able to explain IFRS standards. Audit committee members who would like to gain an understanding of IFRS may also find this to be a useful seminar.
By the end of this course, participants will be able 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, and
- list relevant resources (with links).
- Overview of IFRS
- Conceptual framework and fair value measurement
- Financial statement presentation
- Property plant and equipment
- Investment property
- Intangible assets
- Impairment of assets
- Financial instruments
- Income taxes
- Strategic investments and separate financial statements
- Other IFRS standards e.g. interim financial reporting, related party transactions,employee benefits
- Specialized industries e.g. agriculture, mining, insurance, rate-regulated entities
- First-time adoption considerations
- Impact of Covid-19 on accounting
- Examples and exercises to illustrate application issues
Familiarity with CPA Handbook – Accounting Part I is useful but not required.