IFRS Guidebook 2018

Price: $189.75

CPE Credits: 23.0

Category:

Course Number: AAIFRSSB

IFRS Guidebook

Description:
The IFRS Guidebook discusses the key elements of International Financial Reporting Standards, as well as how to record and disclose accounting information. Table of Contents

 

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: October 10. 2015
Update:  December 2017

Format: PDF
Pages: 460

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Cite the accounting principles upon which IFRS is based.
  • Note the types of formats in which the balance sheet can be presented, and the circumstances under which different financial statement layouts are required.
  • Identify the various sections and line items contained within the statement of cash flows.
  • State the circumstances under which control is exercised over an investee.
  • Note the circumstances under which financial statements are restated.
  • Cite the indicators of hyperinflation, and when such an environment is no longer considered to exist.
  • State the adjustments needed to derive basic earnings per share and diluted earnings per share.
  • Identify the proper accounting for revenue in an interim period, and note how the integral view alters the accounting for interim periods.
  • State the rules for determining whether a segment of a business is reportable.
  • Note the rules for determining joint control of an entity.
  • Identify the circumstances under which an entity is considered to be an associate.
  • Note the factors under which a structured entity is created, and note how to deal with different end dates for the financial statements of subsidiaries.
  • State the underlying accounting transactions for the periodic and perpetual inventory systems, as well as the derivation of the gross profit and retail methods.
  • Recognize the calculation methods for accelerated depreciation.
  • Identify the circumstances under which intangible assets can be accounted for separately.
  • State the uses for investment property, as well as the accounting for it.
  • Cite the circumstances under which impairment occurs, and the indicators of impairment.
  • Recognize the situations when an asset can be designated as held for sale, and the accounting rules that apply to such an asset.
  • Identify the types of events that can create a provision.
  • Identify the evaluation criteria for a contract, the components of the transaction price, and when the expected value method should be used.
  • Note the treatment of a payment made with a noncash asset.
  • Identify the content of a refund liability account.
  • Recognize when a contract modification can be accounted for as a separate contract.
  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, asset repurchases, and breakage.
  • Note the accounting for a legal obligation related to harmful products.
  • Recognize the situations under which contract liabilities occur, and when disaggregation is used.
  • Identify the types of post-employment benefit plans, and the accounting for the various types of benefit plans.
  • State the impact of stock price volatility on stock options, and the accounting for a compound financial instrument issued to an employee.
  • Identify the basis of measurement for a deferred tax asset.
  • Note the criteria used to discern the acquirer in a business combination, and the accounting for contingent consideration.
  • State the classification criteria for a financial liability, a hedging instrument, and a financial asset derecognition.
  • Note the circumstances under which the highest and best use concept is employed, and examples of the fair value hierarchy.
  • Note the criteria used to identify a functional currency and a presentation currency.
  • Cite the circumstances under which borrowing costs can be capitalized.
  • Identify the reasons why a lease can be useful for a lessee.
  • Note the leasing rules related to asset substitution.
  • Recall how the 12-month lease exception works.
  • Note the criteria for designating an entity as a related party.
  • Classify events as being after the reporting period or as new events.
  • State the intent behind the liability adequacy test and note the impairment rules for a reinsurance contract.
  • Cite the accounting rules for biological assets, and identify the characteristics of these assets.
  • State the recognition criteria for a government grant, and recognize the accounting for these grants.
  • Recognize the special accounting treatment for regulatory deferral accounts.
  • Note the recordation rules for exploration costs and the indicators for mineral asset impairment testing.
  • Note the types of infrastructure facilities to which a service concession arrangement might apply, as well as the accounting for such an arrangement.
  • Identify the relevant accounting for the hedge of a net investment in a foreign operation, as well as the liabilities associated with the Directive on Waste Electrical and Electronic Equipment, and the recognition criteria for non-cash payments to owners.

 

Description:
The IFRS Guidebook discusses the key elements of International Financial Reporting Standards, as well as how to record and disclose accounting information. Table of Contents

 

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: October 10. 2015
Update:  December 2017

Format: PDF
Pages: 460

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Cite the accounting principles upon which IFRS is based.
  • Note the types of formats in which the balance sheet can be presented, and the circumstances under which different financial statement layouts are required.
  • Identify the various sections and line items contained within the statement of cash flows.
  • State the circumstances under which control is exercised over an investee.
  • Note the circumstances under which financial statements are restated.
  • Cite the indicators of hyperinflation, and when such an environment is no longer considered to exist.
  • State the adjustments needed to derive basic earnings per share and diluted earnings per share.
  • Identify the proper accounting for revenue in an interim period, and note how the integral view alters the accounting for interim periods.
  • State the rules for determining whether a segment of a business is reportable.
  • Note the rules for determining joint control of an entity.
  • Identify the circumstances under which an entity is considered to be an associate.
  • Note the factors under which a structured entity is created, and note how to deal with different end dates for the financial statements of subsidiaries.
  • State the underlying accounting transactions for the periodic and perpetual inventory systems, as well as the derivation of the gross profit and retail methods.
  • Recognize the calculation methods for accelerated depreciation.
  • Identify the circumstances under which intangible assets can be accounted for separately.
  • State the uses for investment property, as well as the accounting for it.
  • Cite the circumstances under which impairment occurs, and the indicators of impairment.
  • Recognize the situations when an asset can be designated as held for sale, and the accounting rules that apply to such an asset.
  • Identify the types of events that can create a provision.
  • Identify the evaluation criteria for a contract, the components of the transaction price, and when the expected value method should be used.
  • Note the treatment of a payment made with a noncash asset.
  • Identify the content of a refund liability account.
  • Recognize when a contract modification can be accounted for as a separate contract.
  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, asset repurchases, and breakage.
  • Note the accounting for a legal obligation related to harmful products.
  • Recognize the situations under which contract liabilities occur, and when disaggregation is used.
  • Identify the types of post-employment benefit plans, and the accounting for the various types of benefit plans.
  • State the impact of stock price volatility on stock options, and the accounting for a compound financial instrument issued to an employee.
  • Identify the basis of measurement for a deferred tax asset.
  • Note the criteria used to discern the acquirer in a business combination, and the accounting for contingent consideration.
  • State the classification criteria for a financial liability, a hedging instrument, and a financial asset derecognition.
  • Note the circumstances under which the highest and best use concept is employed, and examples of the fair value hierarchy.
  • Note the criteria used to identify a functional currency and a presentation currency.
  • Cite the circumstances under which borrowing costs can be capitalized.
  • Identify the reasons why a lease can be useful for a lessee.
  • Note the leasing rules related to asset substitution.
  • Recall how the 12-month lease exception works.
  • Note the criteria for designating an entity as a related party.
  • Classify events as being after the reporting period or as new events.
  • State the intent behind the liability adequacy test and note the impairment rules for a reinsurance contract.
  • Cite the accounting rules for biological assets, and identify the characteristics of these assets.
  • State the recognition criteria for a government grant, and recognize the accounting for these grants.
  • Recognize the special accounting treatment for regulatory deferral accounts.
  • Note the recordation rules for exploration costs and the indicators for mineral asset impairment testing.
  • Note the types of infrastructure facilities to which a service concession arrangement might apply, as well as the accounting for such an arrangement.
  • Identify the relevant accounting for the hedge of a net investment in a foreign operation, as well as the liabilities associated with the Directive on Waste Electrical and Electronic Equipment, and the recognition criteria for non-cash payments to owners.

 

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