International Financial Reporting Standards (IFRS) are developed and maintained by the International Accounting Standards Board (IASB). The overriding requirement of IFRS is to fairly present financial statements. This course provides an overview of the conceptual framework and other significant general considerations applied in the preparation and fair presentation of IFRS financial statements.

Learning Objectives
  • Explore the Conceptual Framework of Financial Reporting that underlies the preparation and fair presentation of financial statements.
  • Discover the principles of the going concern basis of presentation.
  • Recognize the general form and content of financial statements.
  • Explore the principles of fair value measurement 
Last updated/reviewed: August 6, 2023

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
13 Reviews (42 ratings)

Reviews

5
Anonymous Author
I liked the general overview. It gave a good foundation to build upon. I would like more detail and maybe a basic XYZ guide for financial statement form and content.
5
Anonymous Author
The course provides a high level overview of the inputs to drafting financial statements, but it is not an all encompassing training. This is just the tip of the iceberg
4
Anonymous Author
This course gives a good, quick understanding of the concept of fair value. More examples would have been welcome. I will look at other videos from this lecturer.
5
Anonymous Author
Relevant material here which touches on the key IFRS fair value measurement principles. I'll recommend this to my colleagues. Thank you.
3
Member's Profile
There is a need for in-dpeth explanation and examples to understand different concepts specially around fair value
4
Anonymous Author
I found all the fair value information to be interesting and helpful. Surprisingly not that different from GAAP.
4
Member's Profile
The course gave a good overview of IFRS. Explaining the methods of measuring FV was the most beneficial piece .
3
Anonymous Author
This was a good overview course, but spent a bit too much time on fair value techniques.
2
Member's Profile
The focus was more on Fair valuation, expected more details on other aspects as well.
4
Anonymous Author
Very interesting, but brief, overview. Main focus is on fair market valuation.
4
Anonymous Author
Comprehensive contents. More abstract as expected in this refresher course
5
Member's Profile
This was a good course to provide a general overview of IFRS concepts.
4
Anonymous Author
The course mainly focused on fair value measurement...
show all reviews
Prerequisites
Course Complexity: Foundational

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 Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to General Considerations for Preparing Financial Statements in Accordance with IFRS1:13
  Conceptual Framework of Financial Reporting6:39
  Going Concern Basis of Presentation7:48
  General Form and Content of Financial Statements5:38
  Principles of Fair Value Measurement8:23
  Principles of Fair Value Measurement Continued10:21
  Principles of Fair Value Measurement Continued & Conclusion10:54
CONTINUOUS PLAY
  General Considerations for Preparing Financial Statements in Accordance with IFRS 50:57
SUPPORTING MATERIALS
  Slides: General Considerations for Preparing Financial Statements in Accordance with IFRSPDF
  General Considerations for Preparing Financial Statements in Accordance with IFRS Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONS quiz
 FINAL EXAMexam