Course Content
A. Introduction to IFRS
B. Inventories
- Initial recognition of inventories
- Measurement of inventories
- Inventories Versus PPE
- Disclosures
C. Property, plant and equipment (IAS 16)
- Initial recognition of property, plant and equipment
- Subsequent measurements
- Derecognition of property, plant and equipment
- Disclosures
D. Revenue (IAS 18)
- What is revenue
- Nature of revenue
- Recognition of revenue (impact of warranties etc.)
- Disclosures
E. Impairments (IAS 36)
- Overview of impairments of non-financial assets
- Assessment of non-financial assets for impairment
- Cash Generating Unit (CGU)
- Estimation of recoverable value of non-financial assets
- Subsequent treatment of impairment provisions
- Disclosures
F. Leases (IAS 17)
- What is a lease
- Finance lease versus Operating lease
- Accounting for finance and operating leases
- Disclosure
G. Financial instruments (IAS 32, IAS 39, IFRS 7):
- Classification of financial assets and liabilities
- Initial recognition of financial instruments
- Practical session on application of amortized cost on borrowings, trade and other receivables etc.
- Fair value computation e.g. equity, debt instruments etc
- Impairment and Disclosures
H. Employee benefits (IAS 19)
- Nature of employee benefits
- Accounting for short term employee benefits
- Accounting for other long term employee benefits
- Accounting for post-employment and termination benefits
- Disclosures
I. Related parties (IAS 24):
- Identification of related parties
- Extent of disclosures
J. Intangible Assets (IAS 38)
- Initial recognition
- Subsequent measurement
- Derecognition
- Disclosures
K. Presentation of financial statements (IAS 1)
- Overview of IAS 1
- Statement of financial position
- Statement of comprehensive income
- Statement of cash flows
- Statement of changes in equities
- Disclosures
L. Provisions (IAS 37)
- Introduction to IAS 37 on provisions
- Recognition and measurement of provisions
- Decommissioning and Restructuring provision
- Disclosures
M. Borrowing cost
- What are qualifying assets
- What are borrowing costs
- When to commence and cease capitalizing
- Disclosures
N. Investment in associates and joint arrangement
Associates
- Recognition
- Measurement
- Disclosure
O. Joint Arrangement
- Definitions
- Types
- Accounting