Instructor for this course
more

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: May 10, 2022

Included In Certifications

This course is included in the following Certification Programs:

17 CoursesIFRS Certificate Program

  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

4 Reviews (17 ratings)Reviews

5
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.
5
Anonymous Author
Great course. Very well taught by the professor with her in depth analysis on the topic.
5
Member's Profile
Very straight-forward explaination which made the lecture easy to follow.
4
Anonymous Author
Good overview; thank you! Instructor is easy to follow.

Prerequisites

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  00:55Introduction to Accounting for Nonfinancial Assets Under IFRS
  8:50Property, Plant, and Equipment
  7:08Investment Property
  9:00Intangible Asset
  7:01Inventory
  7:12Impairment of Long-Lived Assets
  7:30Impairment - Calculating The Recoverable Amount
  3:26Goodwill - Special Impairment Considerations and Conclusion
CONTINUOUS PLAY
  51:02Accounting for Nonfinancial Assets under IFRS
SUPPORTING MATERIALS
  PDFSlides: Accounting for Nonfinancial Assets under IFRS
  PDFAccounting for Nonfinancial Assets under IFRS Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM