IFRS®: IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors; IFRS 5, Discontinued Operations and Non-current Assets Held for Sale; and IAS 37, Provisions, Contingent Liabilities and Contingent Assets

Establish a strong foundation in international accounting standards

Learn the basic concepts and principles that underlie international accounting standards:

• IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors
• IFRS 5, Non-current Assets Held for Sale and Discontinued Operations
• IAS 37, Provisions, Contingent Liabilities and Contingent Assets

You will understand essential information that will empower you to confidently apply the requirements of these standards when applicable.

Key concepts covered include:

• IAS 8’s accounting policies and components
• classifying, measuring, and presenting items as held-for-sale;
• accounting for noncurrent assets, disposal groups, and discontinued operations
• IAS 37 scope and exceptions.

Prepare for today’s global business environment

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 enable you to effectively compete in the modern business world.

Hands-on learning to enhance comprehension

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 in this course will help you apply IAS 8, IFRS 5, and IAS 37 requirements to better assist your clients who have adopted 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

• Accounting policies and their components
• Changes in accounting policies and accounting estimates
• Corrections
• Classifying, measuring, and presenting items as held for sale
• Accounting for noncurrent assets, disposal groups, and discontinued operations
• IAS 37 scope and exceptions
• Recognition criteria and measurement bases
• Related disclosures

Learning Outcomes

• Determine how to select an accounting policy.
• Identify the criteria for determining when it is appropriate to change an accounting estimate.
• Identify criteria that should be applied when selecting and changing accounting policies.
• Recognize the impact on the financial statements of changing an accounting policy or estimate.
• Identify assets subject to the classification, measurement, and presentation criteria of IFRS 5.
• Recall how the requirements of IFRS 5 are applied to measure assets held for sale.
• Recall how to subsequently account for noncurrent assets held for sale.
• Identify when an operation should be classified as discontinued.
• Recognize the presentation requirements for operations classified as held for sale.
• Identify assets subject to the classification, measurement, and presentation criteria of IFRS 5.
• Recall how the requirements of IFRS 5 are applied to measure assets held for sale.
• Recall how to subsequently account for noncurrent assets held for sale.
• Identify when an operation should be classified as discontinued.
• Recognize the presentation requirements for operations classified as held for sale.