IFRS Introductory Session

Today, there is an introductory session at PIRON Study Centre (Noida Branch). From the next week, we all would be reading course. In Introductory session, discussion introduces International Financial Report Standards (IFRS) and addresses IFRS 1, which discusses the first-time adoption of IFRS.

AN OVERVIEW

The Certificate in International Financial Reporting (CertIFR) is an ideal qualification to help you develop an understanding of IFRS or gain formal recognition for your existing IFRS skills and knowledge. Cost effective and flexible, CertIFR provides a comprehensive introduction to the principles of IFRS and is delivered entirely online.

IFRS Certification course details

1. The nature and operations of the IASB

• Structure of the IASC/IASB
• Extant standards of the IASB
• The framework

2. The status and use of IFRSs around the world

• The use of IFRS around the world
• The IASB roadmap
• The annual IASB bound volume and its use

3. Presentation and profit

• IAS 1, Presentation of financial statements
• IAS 18, Revenue
• IAS 8, Accounting policies, changes in accounting estimates and errors

4. Asset recognition and measurement

• IAS 16, Property, plant and equipment
• IAS 38, Intangible assets
• IAS 40, Investment Property
• IAS 36, Impairment of assets
• IAS 23, Borrowing costs
• IAS 20, Accounting for government grants and disclosure of government assistance
• IAS 2, Inventories
• IAS 11, Construction contracts
• IAS 17, Leases
• IAS 32, Financial instruments – presentation
• IAS 39, Financial instruments – recognition and measurement
• IAS 41, Agriculture
• IFRS 7, Financial instruments: disclosures
• IFRS 6, Exploration for and evaluation of mineral resources
• IFRS 5, Non-current assets held for sale and discontinued operations

5. Accounting for liabilities

• IFRS 2, Share-based payment
• IAS 37, Provisions, contingent liabilities and contingent assets
• IAS 10, Events after the reporting period
• IAS 19, Employee benefits
• IAS 12, Income taxes

6. Group accounting

• IAS 27, Consolidated financial statements and accounting for investment in subsidiaries
• IAS 28, Accounting for investments in associates
• IAS 31, Joint ventures
• IAS 21, The effects of changes in foreign exchange rates
• IAS 29, Financial reporting in hyperinflationary economies

7. Disclosure standards

• IAS 7, Statement of cash flows
• IAS 24, Related party disclosures
• IAS 33, Earnings per share
• IAS 34, Interim financial reporting
• IFRS 4, Insurance contracts
• IFRS 1, First time adoption of IFRS
• IFRS 8, Operating segments
• IAS 30, Disclosures in the statements of banks and similar financial institutions

8. Principal differences between UK/US GAAP and IFRS