This course offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS). It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments.
The course is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down all eight chapters of IASB’s conceptual framework chapter by chapter basis. There are examples, which are based on real-life examples, and many exercises, multiple-choice questions, review and final exam questions for you to test your knowledge as you progress through the course.
Course Key Concepts: IASB Conceptual Framework, Accounting assumptions, Accounting principles, Fundamentals of accounting, IASB, FASB, Accounting standards, IAS, IFRS, Global accounting standards, Global accounting principles, 8 Chapters of conceptual framework, The board.
Learning Objectives
- Identify and understand the origins of the International Accounting Standards Board (IASB, 'the Board').
- Explore the structure of the IFRS Foundation.
- Identify and understand the objective of conceptual framework, International Accounting Standards (IAS® Standards), and International Financial Reporting Standards (IFRS® Standards) that are currently in issue.
- Explore the IASB Conceptual Framework - All eight (8) chapters.
- Explore the qualitative characteristics of financial reporting.
- Discover the purpose of financial statements - The Conceptual Framework for Financial Reporting.
Prerequisites
No advanced preparation or prerequisites are required for this course.