Instructor for this course
more

Leading companies recognize the need to move toward IFRS adoption in advance of any mandate. Making the transition to IFRS is not just a rote accounting exercise. Embracing these standards affects the entire company and requires the support of personnel throughout the enterprise. So getting it right is critical, especially when you consider its effect on group financial reporting activities. By understanding the potential challenges that can complicate IFRS adoption in developing a comprehensive plan to overcome these challenges, you can increase your chances for successful transition or convergence.

In planning the conversion, management must develop a detailed and specific understanding of IFRS 1's implications on their business. This hands-on workshop will provide you with easy-to-follow guidelines using a simple, easy-to-understand standard methodology that will ensure successful completion of your conversion.

Learning Objectives

  • Discover the exemptions and options available in IFRS 1 and how to decide which to take up
  • Recognize what information is needed in your first IFRS financial statement
  • Discover how IFRS 1 affects the timing of your conversion and reporting
  • Identify recognition and measurement rules
  • Recognize when retrospective restatement is required and what is involved
Last updated/reviewed: June 03, 2018

7 Reviews (23 ratings)Reviews

4
Member's Profile
Unfortunately, the Rev Rec Example and conclusion video was not available.
5
Member's Profile
Very comprehensive class on the topic. Great reference material.
4
Anonymous Author
Good summary of items to consider in switching to IFRS.
4
Anonymous Author
Good coverage of a complex topic.
4
Anonymous Author
Good high level review of IFRS.
4
Anonymous Author
Good class
4
Member's Profile
Good

Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to IFRS accounting

 

Advanced Preparation: None

 

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
IFRS First-Time Adoption
  4:12IFRS First Time Adoption
  11:14Opening Balance Sheet, Assets and Liabilities
  4:39Optional Exceptions
  2:55Compound Financial Instruments
  4:30Presentation and No Option
  12:28Disclosures
  6:17Impairment
CONCLUSION
  3:50Rev Rec Example and Conclusion
SUPPORTING MATERIALS
  PDFSlides: IFRS First-Time Adoption
  PDFIFRS First-Time Adoption Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM