CPA's will gain valuable knowledge on the global standard for financial reporting. Furthermore, CPAs who are well-versed in IFRS can help their clients or employers to comply with regulatory requirements. Overall, this course in IFRS can benefit CPAs in their professional development, career advancement, and client service.

This course provides an overview of the information included in the financial statements and notes to the financial statements. The focus will be on identifying measurement and presentation choices and explaining complex financial statement line items. Participants will have the opportunity to review several examples and exercises.

Topics Included:

• Different financial statements and types of notes?
• Statement of financial position identifying measurement choices e.g. fair value measurement, presentation choices, assets classification?
• Statement of comprehensive income identifying presentation choices and complex line items including components of the OCI?
• Cash flow statement identifying items in operating, investing and financing?
• Information provided in notes to the financial statements.

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On completion of this course, learners will be able to:

• Explain the accounting hierarchy.
• Identify resources available to research an accounting issue.
• Identify general principles for developing accounting policies.
• Identify general principles for drafting note disclosure.
• Consider factors that may impact objectivity and ethical decision-making.
• Identify and explain the process and steps from researching to developing an accounting policy and drafting note disclosure for complex and new accounting issues.