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IFRS - A Complete Course on IFRS

Syed Muhammad Ali Shah

This is an advanced course on International Financial Reporting Standards (IFRS) and includes detailed explanation of IFRS standards along with practice exercises.

The Dip-IFR or "ACCA Diploma in international financial Reporting," is an international diploma certifying proficiency in IFRS, issued by the world's largest finance and accounting professionals organisation, the Association of Chartered Certified Accountants (ACCA).

If you are a professional accountant or auditor who works in practice or business, then you are eligible to take this ACCA financial reporting qualification.

Read more

This is an advanced course on International Financial Reporting Standards (IFRS) and includes detailed explanation of IFRS standards along with practice exercises.

The Dip-IFR or "ACCA Diploma in international financial Reporting," is an international diploma certifying proficiency in IFRS, issued by the world's largest finance and accounting professionals organisation, the Association of Chartered Certified Accountants (ACCA).

If you are a professional accountant or auditor who works in practice or business, then you are eligible to take this ACCA financial reporting qualification.

1. Working professionals responsible for preparing financial statements based on IFRS (International Financial Reporting Standards)

2. Students taking ACCA Dip-IFR Exam3. Students taking ACCA Cert IFRS Exam

  Apart from lectures, the course also includes sufficient practice questions to demonstrate the application of IFRS.  The course also includes excel files and working files, which students can download for analysis or further working purposes.

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What's inside

Learning objectives

  • Learn the international financial reporting standards (ifrs)
  • Conceptual framework and how all accounting standards are aligned with the conceptual framework.
  • You will learn the application of ifrs in real life where the tutor gives examples guidance based and judgement based application.
  • Learn how to prepare the financial statements of a single entity.
  • Learn how to prepare the set of consolidated financial statements for a group entity.
  • Learn to perform complex calculations using the case studies and detailed question based scenarios using ms excel

Syllabus

Introduction to IFRS
Detailed Study Notes to Prepare all IFRS Standards
Introduction to the course
Conceptual Framework - Part 1
Read more
Conceptual Framework - Part 2
Conceptual Framework - Part 3
Conceptual Framework - Part 4
Structure of Statement of Comprehensive Income - SOCI
Structure of Statement of Financial Position - SOFP
QUIZ - Conceptual and Regulatory Framework
Professional Ethics
Ethical Considerations
Performance Measures
Sustainability Reporting and Integrated Reporting
IFRS 15 - Revenue from Contracts with Customers
IFRS 15 - Part 1. Overview of IFRS 15
IFRS 15 - Part 2. Revenue Recognition Citeria
FRS 15 - Part 3. Revenue Recognition Citeria Continued
Revenue - Questions
Recognition Criteria Explained
Question - Financing Component
Discount Allocation - Question
Question with Solution - Topic Discussion IFRS 15
IFRS 15 - Contract Asset - Contract Liability And Receivables
IFRS 15 - Costs to Fulfill a Contract
IFRS 15 - Contract Asset MCQs
IFRS 15 - General Discussion
Question No 33 from Kit
IFRS 15 - Kit Question Part 1
IFRS 15 - Kit Question Part 2
Quiz - IFRS 15
IAS 16 - Property, Plant and Equipment
SOCI - Explanation
IAS 16 - Part 1 - Recognition and Initial Measurement
IAS 16 - Part 2 - Subsequent Measurement
IAS 16 - Part 3 - Revaluations and Disposals
Revaluation of Non Current Assets - Additional
IAS 16 - Questions and Solutions
IAS 38 - Intangible Assets - Revised
Questions IAS 16 - 23 - 37
IAS 16 - IAS 38 - Questions Tangible and Intangible Assets
IAS 16- Property plant and Equipment Quiz
IAS 40 - Investment Property
DipIFR - IAS 40 Investment Property
IAS 16 and IAS 40 Quick Comparison
Quiz - IAS 40 Investment Property
IAS 38 - Intangible Assets and IFRS 3 Goodwill
IAS 38 - Intangible Non Current Assets
IFRS 3 - Goodwill
Calculation of Goodwill
Quiz - IAS 38 Intangible Assets
IAS 36 - Impairment of Assets
1. Impairment of Assets
2. External Indicators
3. Internal Indicators
4. Cash Generating Units (CGU)
5. Goodwill and Imapirment
6. Accounting Treatment
Question - Impairment of CGU and Goodwill
Question 40 - Imapairment and Deferred Tax
IAS 23 and IAS 36 Questions
Quiz - IAS 36 Impairment
IAS 23 - Borrowing Cost
Borrowing Cost - Part 1
Borrowing Cost - Part 2
Quiz - IAS 23 Borrowing Cost
IAS 37 - Provisions and Contingent Liabilities
IAS 37 - 1. Introduction to Provisions
2. Calculation of Provision and Finance Cost
3. Specific Situations and Treatment
4. Provision for Restructuring
Provision for Restructuring Question
Environmental Provisioning Question
Difference Between Reserve and Provision
IAS 37 Quiz
IFRS 16 - Leases
IFRS 16 - Discussion
IFRS 16 - Re-measurement of Lease Liability
Sale and Lease Back - With Question
Quiz - IFRS 16 Leases
Lessor Accounting
IAS 21 Foreign Exchange
Quiz - IAS 21 Foreign Exchange
Question - IFRS 15 and IAS 21 Foreign Exchange
Question - IAS16 and Foreign Exchange
Functional Currency of a Foreign Subsidiary
IAS 21 - Impact on Goodwill
Impact on Deferred Tax
IAS 12 - Tax
IAS 12 - Tax Part 1
IAS 12 - Tax - Part 2
IAS 12 - Tax Part 3
IAS 12 Quiz
Deferred Tax Treatment with Intra Group Sales
Deferred Tax Treatment with Impairment IAS 36
Deferred Tax Treatment with Lease IFRS16
Tax Question Tufnel

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Offers detailed study notes to prepare for all IFRS standards, which is helpful for professionals seeking certification
Includes practice questions and case studies, which allows learners to apply IFRS in realistic scenarios and deepen their understanding
Covers the preparation of both single entity and consolidated financial statements, which is essential for comprehensive financial reporting
Requires learners to perform complex calculations using MS Excel, which may require learners to have access to this software
Explores sustainability reporting and integrated reporting, which are increasingly important aspects of modern financial reporting
Focuses on IFRS standards, which may not be applicable to learners in regions that use other accounting standards such as US GAAP

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in IFRS - A Complete Course on IFRS with these activities:
Review Conceptual Framework of IFRS
Solidify your understanding of the underlying principles of IFRS. This will help you better understand the rationale behind specific standards.
Browse courses on IFRS
Show steps
  • Read the official IFRS Conceptual Framework document.
  • Summarize the key concepts and principles.
  • Identify how these principles relate to specific IFRS standards.
Read 'IFRS Standards' by Deloitte
Enhance your understanding of IFRS by consulting a comprehensive guide. This will provide detailed explanations and practical examples.
View Putting Knowledge to Work on Amazon
Show steps
  • Obtain a copy of 'IFRS Standards' by Deloitte.
  • Review the sections relevant to the course syllabus.
  • Take notes on key concepts and examples.
Practice applying IFRS 15 Revenue Recognition
Reinforce your understanding of revenue recognition by working through practical examples. This will help you apply the principles of IFRS 15 effectively.
Show steps
  • Find practice questions on IFRS 15.
  • Work through the questions independently.
  • Compare your solutions with the provided answers.
  • Analyze any discrepancies and identify areas for improvement.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Develop an IFRS Compliance Checklist
Create a practical tool for ensuring IFRS compliance. This will help you consolidate your knowledge and develop a systematic approach to IFRS implementation.
Show steps
  • Identify the key requirements of each IFRS standard covered in the course.
  • Create a checklist with specific compliance points.
  • Organize the checklist by IFRS standard or topic.
  • Review and refine the checklist for completeness and accuracy.
Create a presentation on IAS 16 Property, Plant and Equipment
Deepen your knowledge of IAS 16 by creating a presentation. This will require you to synthesize information and present it in a clear and concise manner.
Show steps
  • Research IAS 16 and gather relevant information.
  • Structure the presentation with key topics.
  • Create slides with clear explanations and examples.
  • Practice delivering the presentation.
Read 'Applying IFRS Standards' by Ruth Picker
Gain practical insights into applying IFRS standards by studying real-world case studies. This will help you bridge the gap between theory and practice.
View Applying IFRS Standards (Wiley Regulatory... on Amazon
Show steps
  • Obtain a copy of 'Applying IFRS Standards' by Ruth Picker.
  • Review the case studies relevant to the course topics.
  • Analyze the application of IFRS in each case.
  • Identify the key challenges and solutions.
Analyze the Financial Statements of a Publicly Listed Company
Apply your IFRS knowledge by analyzing the financial statements of a real company. This will provide valuable hands-on experience and enhance your analytical skills.
Show steps
  • Select a publicly listed company that uses IFRS.
  • Download the company's annual report.
  • Analyze the financial statements, focusing on key IFRS standards.
  • Prepare a report summarizing your findings and insights.

Career center

Learners who complete IFRS - A Complete Course on IFRS will develop knowledge and skills that may be useful to these careers:
Financial Reporting Analyst
A Financial Reporting Analyst plays a crucial role in preparing and analyzing financial statements, and this course directly supports that work. This course provides a thorough understanding of International Financial Reporting Standards (IFRS), which are essential for preparing accurate and compliant financial reports. The detailed explanations of IFRS standards, along with practice exercises and case studies, help a Financial Reporting Analyst apply these standards in real-world scenarios. The course covers key areas such as revenue recognition, property plant and equipment, intangible assets, impairment, borrowing costs, provisions, leases, foreign exchange, and tax, all of which are crucial for a Financial Reporting Analyst.
See salaries and explore the career path for Financial Reporting Analyst
Auditor
An Auditor reviews financial records to ensure they are accurate and comply with accounting standards, and this course is highly relevant. This IFRS course provides a deep dive into the intricacies of International Financial Reporting Standards. Auditors must possess a strong grasp of IFRS to effectively evaluate financial statements and identify compliance issues. The course's structured approach, which includes detailed study notes, practice questions, and topic discussions, helps an Auditor develop the necessary expertise. The coverage of areas like revenue recognition, asset valuation, impairment, and provisions directly impact an Auditor's ability to perform audits.
See salaries and explore the career path for Auditor
Accountant
Accountants are responsible for the preparation and analysis of financial records, and this course provides a strong foundation. This course delves into International Financial Reporting Standards (IFRS), which are critical for accountants working in a globalized environment. The comprehensive curriculum, which includes detailed explanations of IFRS standards, practical examples, and case studies, helps an Accountant gain confidence in preparing financial statements. The course's focus on areas such as revenue from contracts, property, plant and equipment, intangible assets, and tax directly support the work of an Accountant.
See salaries and explore the career path for Accountant
Financial Controller
A Financial Controller oversees the accounting operations of a company, and a comprehensive understanding of IFRS is crucial. This course on International Financial Reporting Standards (IFRS) is extremely beneficial to a Financial Controller. The course thoroughly explores the complex details of IFRS, and covers key topics such as consolidated financial statements, revenue recognition, and asset valuation. A Financial Controller must possess strong technical knowledge of IFRS, and this course helps meet that need. The practical application, through detailed question based scenarios, is especially useful for a Financial Controller.
See salaries and explore the career path for Financial Controller
Senior Accountant
Senior Accountants often lead accounting teams and ensure compliance with financial reporting standards, and this course is especially helpful. This course provides in depth knowledge of International Financial Reporting Standards (IFRS), and offers a structured approach to understanding complex accounting principles. A Senior Accountant must possess a deep understanding of IFRS to perform their role effectively. The practical applications of the course, incorporating case studies and detailed question based scenarios, directly benefit a Senior Accountant.
See salaries and explore the career path for Senior Accountant
Internal Auditor
An Internal Auditor ensures that a company's financial reporting and internal controls are adequate, and this IFRS course is directly relevant to that role. This course offers a deep dive into International Financial Reporting Standards, which allow an internal auditor to assess the accuracy and reliability of financial statements. The course provides a thorough understanding of the conceptual framework, practical applications, and complex calculations, which are essential for Internal Auditors. The course's coverage of areas like revenue recognition, asset valuation, and impairment helps an Internal Auditor evaluate financial reporting in detail.
See salaries and explore the career path for Internal Auditor
Compliance Officer
Compliance Officers ensure that a company's financial practices adhere to regulatory requirements, and this course provides the necessary knowledge base. This course on International Financial Reporting Standards (IFRS) offers a comprehensive knowledge of global accounting standards. A Compliance Officer must be aware of IFRS to confirm that a company's financial reporting is compliant. The course's emphasis on practical application, using detailed questions and case scenarios, helps a Compliance Officer analyze financial statements for accuracy. Understanding revenue recognition and asset valuation are important to the role.
See salaries and explore the career path for Compliance Officer
Finance Manager
A Finance Manager is responsible for overseeing the financial health of an organization, and an understanding of IFRS is critical for decision-making. This course delivers a structured overview of International Financial Reporting Standards (IFRS), which are crucial for effective financial management. A Finance Manager must possess a broad knowledge of accounting standards to oversee reporting and this course is valuable to increase this understanding. The course's practical examples are useful for a Finance Manager, and they improve understanding of reporting standards for strategic recommendations.
See salaries and explore the career path for Finance Manager
Financial Analyst
Financial Analysts interpret financial data to make recommendations, and a strong foundation in IFRS helps in accurately analyzing financial statements. This course on International Financial Reporting Standards (IFRS) helps build that foundation. A Financial Analyst must be capable of understanding and interpreting financial reports, and this course supports that skill. The course's detailed focus on IFRS principles, as well as practical application through exercises, helps a Financial Analyst derive accurate insights from financial reporting.
See salaries and explore the career path for Financial Analyst
Tax Accountant
A Tax Accountant prepares tax returns and ensures a company complies with tax laws, and this course may be useful. This course introduces topics that may impact tax accounting, such as deferred tax, which is part of the International Financial Reporting Standards (IFRS). A Tax Accountant must understand how financial reporting impacts tax calculations. While the primary focus of the course is not on taxation, it does introduce concepts that are used in tax accounting. Understanding concepts such as impairment and provisions may help a Tax Accountant.
See salaries and explore the career path for Tax Accountant
Management Consultant
Management Consultants advise organizations on improving their performance, and familiarity with financial standards helps provide effective advice. This course on International Financial Reporting Standards (IFRS) may be useful for a Management Consultant. The course explores the conceptual framework of financial reporting, which helps a Management Consultant understand the underlying principles of financial statements. This understanding can help a Management Consultant improve analysis and ultimately guide recommendations. While this course is not a core requirement for the role, understanding financial reporting is useful.
See salaries and explore the career path for Management Consultant
Business Development Manager
A Business Development Manager identifies new business opportunities, and a basic understanding of financial reporting can be useful. This course on International Financial Reporting Standards (IFRS) may be useful for a Business Development Manager. This course explores the language of financial statements, and its framework. While a Business Development Manager does not need to be an expert in financial reporting, understanding financial statements is useful when identifying new opportunities. Knowledge of IFRS helps in understanding and evaluating the financial implications of business decisions.
See salaries and explore the career path for Business Development Manager
Investment Banker
Investment Bankers help companies raise capital and manage investments, and this course may be useful. An Investment Banker must evaluate the financial health and performance of companies, but this course may not be directly relevant to that task. While this course delves into accounting policies under International Financial Reporting Standards (IFRS), it may not be directly related to Investment Banking. However, it does provide a very basic understanding of financial reports and statements. For an Investment Banker more sophisticated financial analysis tools are typically necessary.
See salaries and explore the career path for Investment Banker
Project Manager
Project Managers oversee projects and ensure they are completed on time and within budget, and this course may be useful. This course explores International Financial Reporting Standards (IFRS), which is highly tangential to the role of Project Manager. However, certain project managers may be responsible for budgets, or may have a financial component in their role. Very basic understanding of financial reports may help a Project Manager appreciate the financial constraints of a project. However, this course is not directly related to the work of a Project Manager.
See salaries and explore the career path for Project Manager
Software Engineer
Software Engineers develop software applications, and this course is unlikely to be of any use. The course delves into International Financial Reporting Standards (IFRS). This course does not provide any practical or theoretical knowledge of software development. A Software Engineer would not typically need any of the skills taught in this course. This course is not relevant to the role of a Software Engineer.
See salaries and explore the career path for Software Engineer

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in IFRS - A Complete Course on IFRS.
Cover image
Putting Knowledge to Work
Save
Provides a comprehensive guide to IFRS standards, offering detailed explanations and practical examples. It valuable reference tool for understanding the complexities of IFRS and applying them in real-world scenarios. This book is commonly used by accounting professionals and students preparing for IFRS certifications. It adds depth to the course by providing detailed interpretations and implementation guidance.
Putting Knowledge to Work
Paperback
Check
Putting Knowledge to Work
Kindle Edition
Check
Cover image
Applying IFRS Standards
Save
Offers a practical guide to applying IFRS standards, focusing on real-world scenarios and case studies. It is particularly useful for understanding the practical implications of IFRS and developing the skills to apply them effectively. This book is valuable as additional reading, providing a deeper understanding of the application of IFRS standards in various industries. It is often used by professionals seeking to enhance their practical knowledge of IFRS.
Applying IFRS Standards (Wiley Regulatory Reporting)
Paperback
$$$

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Effort
72.5 total hours
Via
Udemy
Instructor
Syed Muhammad Ali Shah
Language
English
Good to know
Offers detailed study notes to prepare for all IFRS standards, which is helpful for professionals seeking certification
Includes practice questions and case studies, which allows learners to apply IFRS in realistic scenarios and deepen their understanding
Covers the preparation of both single entity and consolidated financial statements, which is essential for comprehensive financial reporting
Requires learners to perform complex calculations using MS Excel, which may require learners to have access to this software
Explores sustainability reporting and integrated reporting, which are increasingly important aspects of modern financial reporting
Focuses on IFRS standards, which may not be applicable to learners in regions that use other accounting standards such as US GAAP
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