It is time to give some thought to how we account for the business transactions we enter into or those that we are tasked with auditing.

Are you perhaps in the habit of accounting for / treating transactions or interpreting them in one particular way, without applying your mind?

We want to help refresh your understanding of the IFRS requirements with a high-level overview of several IFRS / IAS standards that tend to be commonplace in business.

• Help you better identify when a particular standard is relevant to a transaction i.e., we’ll briefly consider scoping and definitions
• Simplify recognition criteria
• Clarify initial and subsequent measurement
• Provide a summary of disclosure (will not be discussed in depth).

Content

We will spend 20 to 30 minutes on each standard/topic to ensure you gain the insights you need without feeling overwhelmed

General:

• IAS 8 – Accounting Policies, Changes in Estimates, and Errors Assets
• IFRS 13 - Fair Value Measurement
• IFRS – IAS 21 Effect of Changes in Foreign Exchange Rates
• IFRS – IAS 33 Earnings Per Share.

Special Financial Statements:

• IFRS 3 Business Combinations
• IFRS 10 Consolidated Financial Statements
• IFRS 11 Joint Arrangements
• IFRS – IAS 28 Investments in Associates and Joint Ventures
• IFRS – IAS 27 Separate Financial Statements
• IFRS 12 Disclosure of Interests in Other Entities.

Assets:

• IFRS 9 – Financial Instruments Liabilities

Income Statement:

• IFRS 2 Share Based Payments.

Disclosure:

• IFRS 7 Financial Instruments Disclosure.