This course provides an overview of the principles contained in International Financial Reporting Standards (IFRS) related to the initial recognition and subsequent measurement of nonfinancial assets, such as property, plant, and equipment, investment property, intangible assets, and inventories.  Testing for impairment of these long-lived nonfinancial assets is also explored.  

Learning Objectives
  • Explore important considerations for accounting for property, plant, and equipment per International Accounting Standard (IAS) 16 and investment property per IAS 40.
  • Discover important considerations when identifying and recognizing intangible assets per IAS 38.
  • Recognize key factors in fair presentation of inventories per IAS 2.
  • Explore impairment testing of long-lived nonfinancial assets per IAS 36.  
Last updated/reviewed: March 13, 2024

Included In Certifications

This course is included in the following Certification Programs:

17 CoursesInternational Financial Reporting Standards (IFRS) Certification

  1. General Considerations for Preparing Financial Statements in Accordance with IFRS
  2. IFRS vs. U.S. GAAP - Major Differences in Accounting
  3. 2022 IFRS Update
  4. IFRS for Small and Medium-Sized Entities Compared to Full IFRS
  5. Accounting for Revenue from Contracts with Customers per IFRS 15
  6. Accounting for Leases under IFRS 16
  7. IFRS - Accounting for Share-Based Payment Awards per IFRS 2
  8. Accounting for Financial Instruments under IFRS 9
  9. Accounting for Nonfinancial Assets under IFRS
  10. Accounting for Business Combinations under IFRS 3
  11. IFRS - Accounting for Employee Benefits per IAS 19 and IFRIC 14
  12. Accounting for Investments in Other Entities, Including Consolidation, under IFRS
  13. IFRS - Accounting for Income Taxes per IAS 12
  14. IFRS - Derivatives and Hedge Accounting under IFRS 9
  15. IFRS - Special Accounting Topics
  16. IFRS - Special Financial Reporting Issues
  17. IFRS - General Financial Statement Disclosures
6 Reviews (32 ratings)


Anonymous Author
This course provided a great overview of non-financial asset accounting that really helped me refresh on the differences between US GAAP and IFRS for these types of assets.

Anonymous Author
I appreciated the proper depth of the course, which was a great overview and a refresher on the topic of Accounting for Nonfinancial Assets under IFRS. Thank you Jennifer!

Anonymous Author
This was a good refresher course in understanding the accounting for nonfinancial assets.

Anonymous Author
Great course. Very well taught by the professor with her in depth analysis on the topic.

Member's Profile
Very straight-forward explaination which made the lecture easy to follow.

Anonymous Author
Good overview; thank you! Instructor is easy to follow.

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction to Accounting for Nonfinancial Assets Under IFRS00:55
  Property, Plant, and Equipment8:50
  Investment Property7:08
  Intangible Asset9:00
  Impairment of Long-Lived Assets7:12
  Impairment - Calculating The Recoverable Amount7:30
  Goodwill - Special Impairment Considerations and Conclusion3:26
  Accounting for Nonfinancial Assets under IFRS 51:02
  Slides: Accounting for Nonfinancial Assets under IFRSPDF
  Accounting for Nonfinancial Assets under IFRS Glossary/IndexPDF