International Financial Reporting & Accounting Standards

Explore how IFRS evolved from EAS, guided by the EASB since 2001, replacing older standards and building on EAS to meet modern business needs.

Examine the presentation of financial statements and disclosures under IFRS, categorized into nine groups, covering structure, cash flows, policies, and standards like IFRS 1, IFRS 8, and EAS 7.

Explore es1 presentation of financial statements, detailing the five essential statements and their formats. Grasp core principles like honesty, completeness, consistency, and materiality, and current versus non-current classification.

Examine how the cash flow statement under EAS 7 presents operating, investing, and financing activities, explains cash and cash equivalents, disclosures, non-cash transactions, and the indirect method.

Explore interim financial reporting under IAS 34, presenting condensed balance sheets, income statements, changes in equity, and cash flow statements with comparative data and key disclosures.

This lecture explains IFRS 9 and its treatment of financial instruments, covering classification and evaluation, impairment via expected credit losses, and hedge accounting with three types.

Explain IFRS 3's acquisition method for business combinations, detailing buyer identification, acquisition date, fair value of consideration, asset and liability recognition, and goodwill or bargain pursuits, with disclosures.

IFRS 10 defines control to determine which entity consolidates subsidiaries, applying full consolidation, eliminating inter-company transactions, and recognizing non-controlling interests, with clear disclosure requirements.

Master IFRS 11 on joint arrangements, distinguishing joint operations and joint ventures, and apply assets, liabilities, and income recognition under the equity method with clear disclosures.

Explore IAS 27's separate financial statements, detailing when to prepare them and recognizing interests in subsidiaries, associates, and joint arrangements by cost or fair value through other comprehensive income.

Explore how IAS 28 prescribes the equity method for investments in associates and joint ventures, covering initial recognition, profit sharing, dividends, impairment, and disclosures.

Explore how to measure the fair value of assets and liabilities and apply deferred regulatory accounts under IFRS 13 and IFRS 14.

IFRS 14 enables first-time adopters in regulated markets to recognize deferred regulatory accounts as assets or liabilities, guiding disclosures and future revenue recovery from price regulation.

Explore the assets category: tangible assets like machinery and buildings, intangible assets such as patents, and their repairment, plus the management of vendors and non-current assets intended for sale.

Explore how IAS 16 recognizes property, plant and equipment, measures initial cost, depreciation, and impairment, and applies cost or revaluation models.

Explore IAS 38's treatment of intangible assets, covering recognition criteria (recognizability, control, future benefits), initial measurement at cost, subsequent measurement (cost or revaluation), depreciation for finite life, impairment, and disclosures.

Ifrs 17 provides a framework for recognizing and measuring insurance contracts, with four approaches—general model, premium allocation, variable fee, and initial recognition—and a contractual service margin recognizing profits over time.

Explore accounting policies for income taxes, employee benefits, pensions, and allowance, and examine how exchange rate changes affect financial statements through EAS 12, EAS 19, and EAS 21.

Explain IAS 12 income taxes, covering current and deferred taxes, recognition, measurement, and presentation in financial statements, including temporary differences and OCI treatment.