Learners will get on-demand access to this course on October 1 to study at your own pace.

This course provides an overview of the process for tackling complex or new accounting issues using IFRS.

This course provides participants with a discussion on the process for tackling complex or new accounting issues using IFRS. The starting point will be an identification of the complex or new accounting issues that will be discussed in this course to illustrate the process for tackling a complex or new accounting issue. Second, will be a discussion of the accounting hierarchy from IAS 8, Accounting Policies, Changes in Estimates and Errors for determining an accounting policy. This is followed by identification of authoritative and non-authoritative resources available to research a complex or new accounting issue. Then specific examples and resources available applying the accounting hierarchy. Next, a discussion of the principles for developing accounting policies. This is followed by a discussion of the principles for drafting note disclosure. Then factors will be identified that may influence objectivity and ethical decision making in developing and selecting accounting policies and applying professional judgment. Then a discussion of the process and steps from researching to developing an accounting policy and drafting note disclosure for a complex or new accounting issue. Participants will then apply the process and steps using a number of complex or new accounting issues e.g. leases, investment property, financial instruments, cryptocurrency.

Participants will have the opportunity to review a number of exercises and case studies. After attending this course, participants will have reviewed the process for tackling complex or new accounting issues using IFRS.

Agenda:

1. Introduction
2. Accounting hierarchy
3. Authoritative and non-authoritative resources
4. General principles in developing accounting policies
5. General principles in drafting note disclosure
6. Factors that influence objectivity and ethical decision making
7. Process and steps from researching to developing an accounting policy and drafting note disclosure for complex and new accounting issues

By the end of this course, participants 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