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Preparing financial statements under International Financial Reporting Standards (IFRS) may present the need to address special accounting issues.  This course covers such topics as when to consolidate another entity into group financial statements, foreign currency translation into a functional currency, adjusting amounts for a hyperinflationary economy, when to capitalize borrowing costs, and how to account for exchanges on non-monetary assets.   

Learning Objectives

  • Explore the accounting rules for when to consolidate another entity in the financial statements per International Financial Reporting Standard (IFRS) 10 - Consolidated Financial Statements
  • Discover how to translate foreign currency into functional currency in accordance with International Accounting Standard (IAS) 21 - The Effects of Changes in Foreign Exchange Rates
  • Recognize how to handle the situation when an entity’s functional currency is in hyperinflation per International Accounting Standard (IAS) 29 - Financial Reporting in Hyperinflationary Economies
  • Explore when to capitalize borrowing costs under International Accounting Standard (IAS) 23 - Borrowing Costs
  • Discover how to account for exchanges of non-monetary assets 
Last updated/reviewed: November 8, 2019

1 Review (9 ratings)Reviews

3
Anonymous Author
This was a good overview of specialized topics in IFRS.

Prerequisites

Course Complexity: Advanced

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
  00:45Introduction to IFRS – Special Accounting Topics
  17:12Consolidation
  8:52Foreign Currency Translation
  4:28Hyperinflation
  4:54Borrowing Costs
  5:02Non-Monetary Transactions and Conclusion
CONTINUOUS PLAY
  41:14IFRS – Special Accounting Topics Full Video
SUPPORTING MATERIALS
  PDFSlides: IFRS – Special Accounting Topics
  PDFIFRS – Special Accounting Topics Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM