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The course demonstrates accounting for financial instruments in accordance with International Financial Reporting Standard 9. A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. IFRS 9 replaces the old IAS 39 Financial Instruments. IFRS 9 introduces a logical approach for the classification of financial assets, which is driven by cash-flow characteristics and the business model in which an asset is held.

This single, principle-based approach replaces existing rule-based requirements that are generally considered to be complex and difficult to apply. The new approach also results in a single impairment model being applied to all financial instruments, thereby removing a source of complexity associated with previous accounting requirements. IFRS 9 is effective for annual periods beginning on or after 1 January 2018 with early application permitted. This course introduces participants to accounting for financial assets, financial liabilities, equity, impairment of financial assets and derivatives.

Course Key Concepts: Financial instrument, Financial asset, Financial liability, Equity, FVTPL, FVTOCI, Amortized cost, Impairment, Derivatives, Expected credit loss.

Learning Objectives

  • Explore the accounting for debt instruments (financial liabilities).
  • Explore the accounting for equity instruments.
  • Explore the accounting for financial assets.
  • Explore the accounting for impairment of financial assets.
  • Explore the accounting for derivatives.
Last updated/reviewed: December 22, 2022

1 Review (1 rating)Reviews

1
Member's Profile
The exam was unnecessarily difficult and did not focus on the learning objectives.

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:12Introduction to IFRS 9 - Financial Instruments
  9:36Definitions
  15:22Lecture Example 1
  3:14Accounting for Debt Instrument Issued
  9:00Lecture Example 2
  5:34Subsequent Accounting
  9:10Lecture Example 3
  9:30Derecognition of Financial Liabilities
  3:22Debt and Equity Difference
  10:30Lecture Example 4
  3:00Lecture Example 5
  10:42Lecture Example 6
  4:50Classification and Measurement Summary
CONTINUOUS PLAY
  1:38:02IFRS 9 - Financial Instruments
SUPPORTING MATERIAL
  PDFSlides: IFRS 9 - Financial Instruments
  PDFIFRS 9 - Financial Instruments Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM