Learn IFRS Through Case Studies Part 1
What you'll learn
- Practical application of IFRS to 35+ accounting scenarios across six cases
- Identify the relevant IFRS standard and steps to address the issue using the relevant standard
- Step-by-step analysis of the issue or scenario using the relevant IFRS standards
- Conclude on the appropriate accounting treatment and provide adjusting journal entries
- Recommended to have some prior knowledge of IFRS (International Financial Reporting Standards)
This course focuses on teaching IFRS through practical application. There are six cases in this course. Each case consists of five or six accounting/financial reporting scenarios (total of thirty-five scenarios). For each scenario, we will identify the relevant standards, complete a step-by-step analysis using the relevant IFRS standards, recommend correct accounting treatment and provide adjusting journal entries where applicable.
This way, you will learn the standards through practical application. An examination scenario might require you to analyze accounting/financial reporting issues using IFRS, and this course focuses on helping you gain competence in such scenarios. The videos and slides document the IFRS criteria under the relevant standard, an analyses of case facts using the criteria and a conclusion with adjusting journal entries where applicable. The actual case, along with slides, and where applicable an Excel file with calculations, is provided with each case under the first (introductory) video for each case.
The scenarios covered include issues such as leases, revenue recognition, financial instruments, accounting for business combinations, significant influence, joint arrangements and joint ventures, revaluation of PP&E, foreign subsidiaries and translation of foreign currencies, impairment calculations and allocation of impairment loss, environmental restoration liabilities, correction of errors and changes in estimates, employee termination benefits, investment property, subsequent events, deferred taxes and non-monetary exchanges.
Who this course is for:
- This course is for all students pursuing degrees, diplomas or designations that include the study and application of IFRS.
I have completed the Bachelor of Accounting and Financial Management and Master of Accounting from the University of Waterloo, in addition to clearing the examinations for entry to the Chartered Professional Accountant (CPA) designation. I have experience working in financial reporting, audit and Canadian tax through working at a number of entities including General Electric (GE), BDO Canada LLP, Peggy M. Seville, CPA and Taxwide Inc. I enjoyed learning the different accounting standards and their applications to case-based scenarios during University, and enjoy drafting memos to recommend the correct accounting treatment of accounting issues at work. I am excited to impart this knowledge in a simple and interesting manner to accounting students!