IFRS®: First-Time Adoption of International Financial Reporting Standards (IFRS 1)
Requirements for first-time adoption of International Financial Reporting Standards® (IFRS 1) are examined for professionals assisting the transition to IFRS Standards.
Format
Online
NASBA Field of Study
Accounting
Level
Basic
CPE Credits
1
Author(s)
AICPA and CIMA staff, Helen Kerrigan
Availability
1 year
Product Number
IFRSCERTZ25SSO
Transitioning to IFRS Standards
Knowledge of IFRS 1, First-Time Adoption of International Financial Reporting Standards, is paramount to helping clients shift to international accounting standards. Whether your clients are transitioning from U.S. GAAP or other standards, a foundational understanding of IFRS 1 will prepare you to facilitate the adoption of IFRS Standards.
You will learn key elements of IFRS 1, including:
- The purpose and scope of IFRS 1
- Guidelines for transitioning to IFRS Standards
- Exemptions and disclosure requirements
Preparing for the future
Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards®.
Whatever your location, you could easily find yourself with a client subject to IFRS requirements.
Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.
Realistic scenarios to apply new concepts
The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course.
The real-world case studies will enable you to apply the core principles of IFRS 1 to better assist your clients in adopting IFRS Standards.
This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.
Who Will Benefit
- Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS Standards.
- Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.
Key Topics
- Purpose and scope of IFRS 1
- Transitioning to IFRS Standards
- Exemptions
- Transactions
- Disclosure requirements
Learning Outcomes
- Recognize when an entity qualifies as a first-time adopter and the date of transition under IFRS 1, First-Time Adoption of International Financial Reporting Standards.
- Identify the mandatory and optional exemptions and required disclosures detailed in IFRS 1.
- Recall the financial system considerations related to an entity’s transition to IFRS Standards.
Group ordering for your team
2 to 5 registrants
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Start order6+ registrants
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