Its time to give some thought to how we account for the
business transactions we enter into or those that we are tasked with auditing.

Are you perhaps in the habit of accounting for / treating
transactions or interpreting them in one particular way, without applying your
mind?

We want to help refresh your understanding of the IFRS requirements with a very
high-level overview of several IFRS / IAS standards that tend to be commonplace
in business. Let’s get the basics right.

Content

Approach:

• Help you better identify when a particular standard is relevant to a transaction i.e., we’ll briefly consider scoping and definitions
• Simplify recognition criteria
• Clarify initial and subsequent measurement

Provide a summary of disclosure (will not be discussed in depth)

Topics covered:

General:

• IFRS – IAS 1 Presentation of Financial Statements
• IFRS – IAS 7 Cash Flow Statement
• IFRS – IAS 8 Accounting Policies Changes in Estimates and Errors
• IFRS – IAS 10 Events After Year-End
• IFRS 13 Fair Value Measurement
• IFRS – IAS 21 Effect of Changes in Foreign Exchange Rates
• IFRS – IAS 33 Earnings Per Share

Special Financial Statements:

• IFRS 3 Business Combinations
• IFRS 10 Consolidated Financial Statements
• IFRS 11 Joint Arrangements
• IFRS – IAS 28 Investments in Associates and Joint Ventures
• IFRS – IAS 27 Separate Financial Statements
• IFRS 12 Disclosure of Interests in Other Entities

Assets:

• IFRS – IAS 16 Property, Plant and Equipment PPE
• IFRS – IAS 2 Inventories
• IFRS – IAS 38 Intangible Assets
• IFRS – IAS 40 Investment Property

Liabilities:

• IFRS 16 Leases
• IFRS - IAS 37 Provisions

Income Statement:

• IFRS 15 Revenue
• IFRS – IAS 19 Employee Benefits
• IFRS 2 Share Based Payments

Disclosure:

• IFRS – IAS 24 Related Parties Disclosure
• IFRS 7 Financial Instruments Disclosure