IFRS Essentials: International Financial Reporting Standards

Learn key IFRS and IAS standards, financial statements, leases, tax and inventory in one focused hour.

Created byAccountutor LLC

Last updated 7/2026

English

What you'll learn

Understand what IFRS is, why it is used globally, and how it supports consistent financial reporting
Explain the role of the IFRS Conceptual Framework and the main IFRS financial statements
Understand the core principles of revenue recognition, lease accounting, and financial instruments
Apply basic IFRS and IAS rules for inventory, tax, property, provisions, impairment, and intangible assets
Identify the main requirements for financial statement presentation, cash flows, borrowing costs, and foreign currency
Work through practical examples involving revenue, leases, inventory write-downs, deferred tax, and fair value

Course content

1 section • 24 lectures • 1h 0m total length

1. Introduction What Is IFRS and Why It Matters Globally2:06
2. IFRS Conceptual Framework Explained Simply2:14
3. The Five IFRS Financial Statements — Complete Overview2:44
4. IFRS 15 The 5-Step Revenue Recognition Model2:59
5. IFRS 16 Lease Accounting Made Simple2:38
6. IFRS 9 Financial Instruments — The Basics2:42
7. IAS 2 Inventory Valuation and NRV Rules2:54
8. IAS 12 Current Tax vs Deferred Tax Explained2:55
9. IAS 16 Property, Plant & Equipment (PPE) Overview3:01
10. IAS 37 Provisions, Contingent Liabilities & Contingent Assets2:42
11. IAS 36 Impairment of Assets — Easy Guide3:01
12. IAS 38 Intangible Assets — Recognition & Amortization2:50
13. IAS 1 How IFRS Financial Statements Are Presented2:32
14. IAS 7 Cash Flow Statements — Indirect Method Explained2:35
15. IAS 23 Borrowing Costs — When to Capitalize2:41
16. IAS 10 Events After the Reporting Period2:18
17. IAS 21 Foreign Currency Transactions & Translation2:08
18. IFRS 13 Fair Value Measurement — Levels 1, 2 & 32:39
19. Revenue Case Study Applying IFRS 15 in Real Life2:33
20. Lease Case Study Calculating ROU Asset & Lease Liability2:11
21. Inventory Case Study Cost vs NRV Write-Down2:14
22. Deferred Tax Case Study Quick Temporary Difference Example2:20
23. Why IFRS Skills Boost Global Accounting Careers1:51
24. How to Continue Learning Your Path to Full IFRS Mastery2:02

Requirements

No previous IFRS knowledge is required. A basic understanding of accounting will be helpful.

Description

This course contains the use of artificial intelligence.

Build a clear foundation in IFRS—without getting lost in technical language.

International Financial Reporting Standards can feel overwhelming when you first encounter them.

There are multiple IFRS and IAS standards, different recognition and measurement rules, disclosure requirements, and financial-statement principles to understand. For students and early-career professionals, it can be difficult to know where to begin.

IFRS Essentials: International Financial Reporting Standards is a focused, beginner-friendly course designed to give you a practical overview of the most important IFRS concepts and standards in approximately one hour.

This course does not promise complete IFRS mastery.

Instead, it helps you understand the purpose of IFRS, how the standards shape financial reporting, and where major standards apply in real accounting situations.

Why Choose This Course?

Focused and Beginner-Friendly

The course introduces major IFRS and IAS standards without overwhelming you with unnecessary detail.

Practical Examples

Selected standards are supported with simple examples and short case studies to help you understand how the rules apply.

Broad IFRS Overview

In one structured course, you will gain exposure to financial statements, revenue, leases, inventory, tax, assets, provisions, impairment, cash flow and fair value.

A Starting Point for Further Learning

This course is designed to build your foundation before you move into detailed IFRS study, professional qualifications or advanced financial-reporting training.

Start Your IFRS Learning Journey

IFRS becomes easier when you first understand the purpose of the standards and how the major topics connect.

This course gives you that starting point.

Enroll today and build a practical foundation in International Financial Reporting Standards in approximately one focused hour.

Who this course is for:

Accounting and finance students
Junior accountants and bookkeepers
Professionals beginning their IFRS journey
ACCA, CA, CPA and CMA students seeking a quick overview
Accountants moving from local standards to IFRS
Business owners who want to understand global financial reporting
Anyone who wants a clear introduction to major IFRS and IAS standards