course | Understanding International Financial Reporting Standards (IFRS)

IFRS Framework and Foundations

Module 1: Overview of IFRS

• Purpose and global adoption of IFRS
• IFRS vs. local accounting standards
• Role of IFRS in transparency and comparability

Module 2: Conceptual Framework of IFRS

• Financial statements objectives
• Qualitative characteristics of financial information
• Recognition and measurement concepts

Recognition and Measurement Principles

Module 3: Recognition of Assets, Liabilities, Income, and Expenses

• Recognition criteria under IFRS
• Accrual accounting and matching principles
• Derecognition concepts

Module 4: Measurement Bases under IFRS

• Historical cost vs. fair value
• Use of estimates and assumptions
• Impact on financial results

Key IFRS Areas Affecting Financial Statements

Module 5: Revenue, Leases, and Financial Instruments (Overview)

• Revenue recognition principles
• Lease accounting impact
• Basics of financial instruments

Module 6: Property, Assets, and Impairment

• Property, plant, and equipment
• Intangible assets
• Impairment indicators and testing

Presentation, Disclosure, and Judgment

Module 7: Financial Statement Presentation

• Statement structure and classification
• Notes and disclosures
• Consistency and comparability

Module 8: Professional Judgment and Estimates

• Areas requiring management judgment
• Accounting estimates and uncertainty
• Managing judgment risk

IFRS Application, Governance, and Improvement

Module 9: Applying IFRS in Practice

• Common application challenges
• Interaction with auditors
• Managing IFRS transitions and changes

Module 10: Strengthening IFRS Compliance and Quality

• Internal controls over financial reporting
• Monitoring updates and amendments
• Continuous improvement in reporting quality