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: March 16, 2024
Included In Certifications
This course is included in the following Certification Programs:
17 CoursesInternational Financial Reporting Standards (IFRS) Certification
- General Considerations for Preparing Financial Statements in Accordance with IFRS
- IFRS vs. U.S. GAAP - Major Differences in Accounting
- 2022 IFRS Update
- IFRS for Small and Medium-Sized Entities Compared to Full IFRS
- Accounting for Revenue from Contracts with Customers per IFRS 15
- Accounting for Leases under IFRS 16
- IFRS - Accounting for Share-Based Payment Awards per IFRS 2
- Accounting for Financial Instruments under IFRS 9
- Accounting for Nonfinancial Assets under IFRS
- Accounting for Business Combinations under IFRS 3
- IFRS - Accounting for Employee Benefits per IAS 19 and IFRIC 14
- Accounting for Investments in Other Entities, Including Consolidation, under IFRS
- IFRS - Accounting for Income Taxes per IAS 12
- IFRS - Derivatives and Hedge Accounting under IFRS 9
- IFRS - Special Accounting Topics
- IFRS - Special Financial Reporting Issues
- IFRS - General Financial Statement Disclosures
3 Reviews (25 ratings)
Reviews
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
.
Jennifer LouisCPA, President of Emergent Solutions Group LLC