In this course we discuss the general underpinnings of International Accounting Standard 1 “Presentation of Financial Statements” with an inclination towards the statement of financial position, statement of profit or loss and other comprehensive income, and statement of changes in equities.

Course Key Concepts: Preparation, IAS1, SFP, SPLOCI, SOCIE.

Learning Objectives
  • Explore the purpose and objectives of IAS 1 “Presentation of Financial Statements”.
  • Recognize the need and responsibility for the preparation of financial statements.
  • Discover and describe the general features of IFRS-compliant financial statements.
  • Discover how financial statements are identified in terms of IAS 1 including the need thereof.
  • Identify the components of the Statement of Financial Position (SFP), Statement of Profit or Loss and Other Comprehensive Income (SPLOCI) and Statement of Changes in Equity (SOCIE).
  • Recognize how the SFP, SPLOCI and SOCIE are prepared in line with IFRS.
Last updated/reviewed: August 4, 2023
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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 .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Presentation of Financial Statements in terms of IAS 1 - SFP, SPL and SOCIE2:32
  Purpose of IAS 13:56
  Purpose and General Features of Financial Statements17:03
  Statement of Financial Position (SFP)10:00
  Statement of Profit or Loss and Other Comprehensive Income (SPLOCI)10:28
  Example Demo-Statement of Profit and Loss15:42
  Example Demo-Statement of Profit and Loss Cont'd14:12
  Example Demonstration-Statement of Financial Position18:40
  The SOCIE16:56
  The SCOIE Demonstration16:00
CONTINUOUS PLAY
  Presentation of Financial Statements in terms of IAS 1 - SFP, SPL and SOCIE2:05:29
SUPPORTING MATERIAL
  Slide: Presentation of Financial Statements in terms of IAS 1 - SFP, SPL and SOCIEPDF
  Presentation of Financial Statements in terms of IAS 1 - SFP, SPL and SOCIE Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam