Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
The objective of this course is to provide participants with an understanding of the essentials of Part I - International Financial Reporting Standards (IFRS). The course is aimed at participants that want to know what IFRS is about but do not have to implement the standards and understand all of the technical details.
This course will cover the essentials of International Financial Reporting Standards (IFRS) but not all of the technical details required for implementation. The course provides a brief discussion on the types of entities using IFRS, impact on development of ASPE, discusses key concepts, examines the conceptual framework, provides a description of IFRS terminology, reviews the basics of IFRS financial statements. At the end of this course you will be aware of the essentials of IFRS, the types of financial statements and impact on financial statements.
This course is not intended as a technical course on IFRS application. For IFRS implementation, please register for IFRS: A Review of the Standards.
TOPICS INCLUDE
- IFRS – what is it and who needs it?
- The framework – concepts, fair value measurement and definitions
- Statement of Financial Position
- Statement of Comprehensive Income
- Statement of Changes in Equity
- Cash Flow Statement
NOTE: No updates or changes were made to the 2023 version of this course. If you completed the course in 2022, please be advised the 2023 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
KEY TAKEAWAYS
- Identify who is required or may elect to use IFRS standards.
- Identify basic IFRS concepts and terminology.
- Identify IFRS financial statements. List relevant resources (with links).
WHO WILL BENEFIT
Accounting professionals who are not required to practice IFRS, but would like a brief high level overview of the concepts and financial statements. It is not applicable for those who have recently taken a course in IFRS or want to understand the technical details.
How to Access The Course
To access the course please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.