IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates
Familiarize yourself with the requirements for IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates.
Format
Online
NASBA Field of Study
Accounting
Level
Basic
CPE Credits
1.5
Availability
1 year
Product Number
IFRSCERTS23SSO
Build foundational knowledge in the international accounting standards for related party disclosures and the effects of foreign exchange rates
Learn the basic requirements and principles of IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates. Gain fundamental knowledge that will empower you to assist clients subject to these standards.
Key concepts you will explore include:
- related party transactions,
- functional currency determination, and
- consolidating financial statements that include a foreign subsidiary and calculating goodwill.
Compete in the modern 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 help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.
Practical learning through realistic scenarios
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 allow you to practice what you learn and apply your knowledge of IFRS requirements.
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
- Related party definition
- Related party transactions
- Related entities
- Disclosure requirements
- Functional currency definition and determination
- Translating a foreign currency transaction
- Calculating and presenting exchange differences (gains and losses) on financial statements
- Consolidating financial statements that include a foreign subsidiary and calculating goodwill
Learning Outcomes
- Recognize who is a related party.
- Identify the disclosures required for related party transactions.
- Recall how an entity determines its functional currency.
- Recognize foreign currency transactions in the functional currency.
- Recall how to translate an entity’s financial statements into a presentation currency.
- Recognize the implications for consolidated financial statements that include a foreign subsidiary.
Group ordering for your team
2 to 5 registrants
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Start order6+ registrants
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