Explore IFRS scope, objectives, and essential components, including comparability, the statement of financial position, notes, other comprehensive income, cash flows, and operating, investing, and financing activities.

Examine going concern concepts and responsibilities, including management representations and comfort letters, in financial statements. Compare materiality, consistency, comparability, and fair presentation under IFRS to ensure true and fair reporting.

Analyze materiality and aggregation, and how offsetting items in the balance sheet affects tax liabilities under IFRS. Distinguish accounting estimates, errors, and policies, and learn about restatement and fair presentation.

Explore the IFRS structure of financial statements, including property, plant and equipment, investment property, intangibles, financial assets and liabilities, and discontinued operations, with notes to accounts.

Review the structure and core features of financial statements, and the two key finance skills of triangulation and articulation, framed by going concern and a global basis.

Explore the IFRS distinctions between revenue from operations and other income, and learn practical revenue recognition using fixed-price and time-based contracts with milestones and the stage of completion method.

Explore revenue recognition under IFRS across scenarios: fixed-price and onerous contracts, service contracts by activity completion, transaction-based billing, royalties and licenses, and goods transfer with shipping terms.

Learn how to break a bundled contract into identifiable components, allocate the transaction price by relative stand-alone values, and recognize revenue for multiple performance obligations under IFRS 15.

Explore the IFRS revenue recognition model, focusing on identifying contracts and defining performance obligations as unit of account, with criteria for distinguishing goods and services, and allocate the transaction price.

Participants explore IFRS basics for revenue through interactive case studies and practical examples, sharing feedback to tailor future sessions on employee benefits, ESOPs, entertainment property, and plant expense.

Recap yesterday’s IFRS acumen session, highlighting revenue phases, implementation steps, identifying contract parties, performance obligations, the transaction price, allocation, and recognition, with a note on employee benefits.

Explain employee benefits such as short term benefits, postretirement benefits like pension and superannuation, and contrast defined benefit and defined contribution schemes, including who bears risks and how trusts work.

Estimate the future liabilities of employee benefit schemes through actuarial valuation, using data, assumptions (attrition, salary escalation, discount rate, mortality) and funding choices (trust vs unfunded), to determine funding needs.

Learn how trust accounting handles defined benefit obligations, plan assets, and contributions, calculating opening balances, interest costs, and net defined benefit obligation.

Examine how actuarial gains and losses impact the net defined benefit liability and plan assets, through contributions, benefits paid, and discount rate effects under IFRS.

Explore long-term and compensated absences in employee benefits, detailing leave provisions and their impact on the P&L, plus insights into share-based payments.

Explore employee stock option plans under IFRS, compare intrinsic value accounting and fair value methods, and decide how to value options versus shares for employees and non employees.

Explore share-based payments and ESOPs, detailing grant and vesting dates, performance and nonmarket conditions, and how these affect retention, valuation, and equity in startups.

Apply the option pricing model to determine the fair value per option, using share price, dividend yield, volatility, and vesting conditions for ESOPs with a predetermined strike price.

Analyze the exercise date tax implications of employee share awards, including fair value, employee and employer taxes, deductions, and potential double taxation in India and the US.

Compare cliff vesting and graded vesting, and explain how vesting expenses are amortized over the vesting period, including accelerated charges in early years under graded vesting.

Explore IAS 16 concepts of property, plant and equipment, tangible noncurrent assets, and the capitalization and depreciation of costs to bring assets to use, plus common controls and verification issues.

Explore how IFRS dictates capitalization decisions, distinguishing opex from capex, and analyze software, assets, and auditing practices through the WorldCom case.

Explore IFRS basics with a quick recap of recognition, employee benefits (defined benefit, compensated absences), related party transactions, property, plant and equipment (ppe), inventories, fair value, and equity case studies.

Learn how IFRS defines control as power plus exposure to variability in returns and a link to returns, guiding when to prepare consolidated financial statements rather than standalone.

Explore the basics of consolidation, grasp the new definition of control, and apply the key elements through a big case study on arbitration.

Explore how to assess consolidation under IFRS by evaluating substantive rights, voting power, and de facto control through relevant activities and contractual arrangements.

Explore the fundamentals of business combinations, including what constitutes a business, amalgamation versus asset purchases, and the role of goodwill in consolidation under IFRS and Indian tax rules.

Learn acquisition accounting for business combinations: identify the acquirer, set the acquisition date, apply consolidation under control, and choose fair value versus book value with tax implications.

Review key IFRS topics from earlier chapters, including date of acquisition and amalgamation versus consolidation. Explore merger goodwill, tax-neutral demergers, and how law may supersede accounting standards.