Description

Type

Course
Level

Intermediate
Methodology

Online

Duration

Flexible
Start date

Different dates available

The ACCA Diploma in IFRS has been developed by The Association of Chartered Certified Accountants (ACCA). Diploma in International Financial Reporting (DipIFRS) is for finance professionals who need to acquire detailed understanding of IFRS. DipIFRS is a fast and efficient solution that will develop the current knowledge of this field

Facilities

Online

Start date

Different dates availableEnrolment now open

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Subjects

Tax
Financial Training
Equity
Joint
Government
Property
Financial
Finance
International
Approach
Benefits
IAS
Presentation
Financial Reporting
IFRS
Investment
Illustration
ACCA
Basic Accounting
Consistency
Fundamental
Non-financial

Teachers and trainers (1)

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Teacher

Course programme

Introduction to International Financial Reporting Standards: -
Overview
What is GAAP and source of GAAP?
Role of statute and standards
Role of the EU and compliance with IFRS
IASB – Background, objectives and structure
Foundation Trustees, Board
IFRS Council and its objectives
IFRS IC Interpretations and approach
Standard setting, Discussion Papers, Exposure Draft, Voting
Comment period, GAAP hierarchy
“IFRS”:- Scope of IFRS and Adoption of IFRS
IOSCO
Impact on US listings
Barriers to development
Conceptual Framework for Financial Reporting: -
Overview and Purpose
Authority, application and scope
Financial statements: - Users, Objective and usefulness
Financial position and performance
Changes in financial position
Underlying assumption and Economic phenomena
Fundamental qualitative characteristics
Relevance and Materiality, Faithful representation and enhancing characteristics
Cost constraint
Elements of financial statements- An asset, A liability, Equity, Income and Expenses
Recognition – meaning and criteria
Measurement bases
Historical cost and Current cost
Realisable (settlement) value and Present value
Concepts of capital, Capital maintenance and Fair Value background
IFRS 13 And Transaction
Non-financial assets
Valuation techniques
Disclosures
IAS 1 Presentation of Financial Statements: -
Learning Objectives, Overview and Objectives
General purpose financial Statements and Supplementary statements
Application of IAS 1
Objectives of FS and Components
Overall considerations
Accrual basis of accounting
Materiality and aggregation
Offsetting
Frequency of reporting
Comparative information
Consistency of presentation
Statement of financial position
Current/non-current distinction
Current assets and Current liabilities
Statement of financial position
Statement of Comprehensive Income
Illustrative SOCI
Profit or loss
Other comprehensive income and Examples
“Line items” of SOCI
Reclassification (IAS 16,19 & 9)
Classification by nature and function
Statement of changes in equity
Movement on reserves
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: -
Learning Objectives and Overview
Accounting policies and Change in accounting estimate
Prior period errors
Selecting accounting policies and its Illustration
Consistency
Change in accounting policy
Case Study – Capitalisation policy
Solution – Statement of profit or loss and Statement of changes in equity
Accounting estimates and Change in accounting estimate
Prior period errors
IFRS 15 Revenue from Contracts with Customers: -
IFRS 15 Overview
Principles of revenue recognition
Definitions
Recognition criteria
Illustration Identify Performance Obligations (I) and (II)
Allocate the Transaction Price and its Examples
Performance obligation satisfied
Satisfied Over Time and Satisfied at a Point in Time
Illustration Satisfaction of Performance Obligations (I) and (II), Contract Liability and Receivable and Contract Asset and Receivable
Output Methods and Input Methods
Cost Recognition
Illustration Non-proportionate costs and Incremental Costs
Costs to Fulfil a Contract
Principal v Agent
Repurchase Agreements
Forward or Call Option
Put Option
Bill-and-Hold Arrangements
Consignments
IAS 16 Property, Plant and Equipment: -
Overview and Scope
Property, plant and equipment
Definitions
Recognition criteria
Capital expenditure and Revenue expenditure
Initial measurement - At cost
“Decommissioning”
Subsequent costs
Part replacement
Major inspection/overhaul costs
Subsequent measurement
Revaluations – Frequency, Accumulated depreciation and its Case Study and Increase/decrease
Depreciation
Useful life
Case Study – Revision of useful life
Residual value
Depreciation period and Depreciation methods
Compensation for impairment
Derecognition
IAS 23 Borrowing Costs: -
Issue – Recognition
Arguments for capitalisation and Arguments against capitalisation
IAS 23 Treatments
Borrowing costs and Qualifying asset
Eligible borrowing costs
Generally borrowed funds
Case Study – Capitalisation rates
Commencement of capitalisation, Suspension of capitalisation and Cessation of capitalisation
IAS 17 Leases: -
Learning Objectives and IAS 17 Overview
Key definitions
Case Study – Minimum Lease Payments
Risks and rewards of ownership
Indicators
Terms of the lease
Land
Finance lease principles
Case Study – Rentals in arrears and Rentals in advance
Interest allocation – Actuarial method
Operating leases and its Case Study
Lessor accounting – Definitions
Finance leases
Lessor provides financing
Lessor “owns” the asset
Allocation of finance income
Sale and leaseback, Sale and leaseback – finance lease and its Case Study
Profit effect
Sale and leaseback – operating lease and its Case Study
IAS 38 Intangible Assets: -
Learning Objectives, Overview and Scope
Intangible assets
Case Study – Tangible vs intangible and its Examples
“Identifiability “and “Control”
General recognition criteria
Goodwill
Initial measurement – cost
Separate acquisition and Case Study and Business combination and Case Study
Government grant
Internally generated goodwill and intangible assets
Research phase and Development phase
Development activities
Case Study – Development expenditure
Recognition as an expense and Subsequent expenditure
Measurement after recognition
Active markets
Useful life and Factors
Illustration – Legal rights
Amortisation and Residual value
Case Study – Research and development, Development expenditure
Indefinite useful lives
Retirements and disposals
IAS 40 Investment Properties: -
Learning Objectives, Definitions and Examples
Not investment property
Recognition and Initial measurement
Meaning of cost
After initial recognition
Fair value model and measurement
Exceptional circumstances
Cost model
Transfers and Disposals
Case Study – Applying IAS 40 and Cost of construction
IAS 41 Agriculture: -
Learning Objectives, Overview and Scope
Agricultural Activity, Related Definitions and Features of agricultural activity
Recognition and Measurement
Case Study – Fair value
Costs to sell
Fair value considerations
Gains and losses
Indeterminable fair value
Presentation Example – Agricultural Assets
Case Study – Fair value gain, Estimated fair value- Price change and Physical change
Government grants and Presentation
IAS 36 Impairment of Assets: -
Learning Objectives, Overview, Scope and Definitions
A cash-generating unit
Impairment review
External and Internal sources of information and Examples
Recoverable amount – Measurement, its case study and Practical points
Fair value and Fair value - Hierarchy
Costs of disposal
Case Study – Fair value less
Value in use and its Case Study
Cash flow projections
Future cash flows and Discount rate
Case Study – Cash flows and Relevant cash flows
CGU – Illustration 1 and 2
Problem – Allocating assets
Impairment loss and its Case Study
Allocation within a CGU
Subsequent review On individual assets for a CGU
IAS 37 Provisions, Contingent Liabilities and Contingent Assets: -
Overview, History, Objective and Scope
Provisions
Obligating event and Constructive obligation
Contingent liability and Contingent asset
Recognition – Provision
Reliable estimate and Measurement
Case Study – Warranty claims (I) and (II) and Case Study – Restoration costs
Specific measurement points
Case Study – Environmental damage
Changes in provisions and Provision accounting
Decommissioning costs
IAS 19 Employee Benefits: -
Overview, Objective and Scope of IAS 19
Definitions – Benefits, Plans
Net defined benefit liability (asset)
Plan assets
Actuarial gains and losses
Net interest on net defined benefit liability
Remeasurements
Short term benefits and Other long-term benefits
Short vs Long-term benefits
Termination benefits
Defined contribution schemes and Defined benefit schemes
Funded vs unfunded
Post-employment benefits (funded)
Role of the actuary
Recognition and measurement
Illustration – Retirement benefit plan
Defined benefit – PorL
Past service cost
Defined benefit – OCI
Daktari example
IFRS 2 Share-based Payment: -
Scope, Main Features, Recognition and Measurement
Cash-settled and Equity-settled
Indirect Measurement
Valuation technique
Models in use
Share-based payments
Performance condition (ex price) and its Case study
Share appreciation rights (SARs) and its Example
IAS 12 Income Taxes: -
Overview and Definitions
Temporary differences
Current tax
Deferred tax problems and perspectives
Case study – Differences arising
Analysis and Impact on profit or loss
Statement of financial position –Extracts
Calculations of tax for the periods
Income statements
Tax base – Illustrations and its Case Study
Temporary differences – sources
Case Study – Taxable temporary
Differences and Deductible temporary differences
Exclusion of non-taxable items
Recognition of deferred tax liabilities
Case Study – Liability recognition, Asset recognition, Deferred taxation, Further information, Change in rates, Tax consequences, Deferred tax movement and Revaluation
Summary of approach
Presentation and Presentation – Offsetting
Offsetting – Deferred tax
Case study – IAS 12 – Tax regime
Financial Instruments: -
IAS 32
IFRS 7
IFRS 9
Financial instruments
IAS 32 Definitions and IFRS 9 Definitions
Amortised cost and its Case Study
Presentation (IAS 32)
Compound instruments – Presentation, Carrying amounts
Case Study – Convertible bond
Treasury shares
Initial Measurement Financial Asset and Subsequent Measurement Financial Asset
Amortised Cost
Fair Value Through Other Comprehensive Income
Business Model
Classification and Measurement Summary
Fair Value Through Profit or Loss
Gains and Losses and Accounting for Gains and Losses
Embedded derivatives
Impairment – terminology
General Approach
Credit Risk
Impairment – factors
Trade Receivables
Provision Matrix
Categories of financial liability and Financial Liabilities
Derecognition of a financial asset and its Examples
Derecognition accounting entries, Derecognition of a financial liability
Objective of Hedge Accounting and Hedge Accounting Criteria
Hedging instruments, Hedged items and Hedge accounting
Hedging relationships – three types – (Fair value hedges, FV hedge and Cash flow hedges)
Conceptual Principles of Group Accounting: -
Overview and Key definitions
Parent’s separate financial statements
Truth and fairness
Control, Power, Returns and Link
Exclusions
Reporting date
Accounting policies
Date of acquisition or disposal
Non-controlling interest
Exemption from group accounts
Consolidated Statement of Financial Position (Acquisition Accounting): -
Learning Objectives and Overview
Background and Rule
Acquisition accounting and Goodwill
Case Study – Basic principles, Goodwill, Post acq growth and NCI valued at fair value
NCI – exam issue
Intercompany trading and Intra-group trading
Unrealised profit – IFRS 10 and its Case Study
Further Adjustments (Goodwill): -
Learning Objectives and Goodwill definition
IFRS 3 calculation
Consideration given, Deferred consideration and Contingent consideration
FV differences
Case study – FV adjustment I and II
Positive goodwill
Bargain purchase
Provisional accounting
Partially owned subsidiary
Goodwill impairment
Associates and Joint Arrangements: -
Learning Objectives and Definitions
Illustration – Joint Operators
Significant influence
Joint Arrangement and its Examples
Joint Operation and Joint Venture
Equity method
Elimination of unrealised profits
Impairment
Recognition of losses
Presentation and Disclosures
IAS 21 The Effects of Changes in Foreign Exchange Rates: -
Accounting issues and Key definitions
Accounting for transactions
Monetary settlements
Year-end balances
Case study – Aston and Warrior
Net investment in a foreign operation
IAS 33 Earnings per Share: -
Learning Objectives, Overview, Scope and Definitions
Basic EPS and Which earnings?
Preference dividends
Weighted average number and Weighted average proforma
Issues – no consideration received
Bonus issues, comparatives and its Illustration
Rights issue, Rights issue – EPS calculation and its Case study
Multiple capital changes – Method and its Illustration
Diluted EPS, Diluted EPS – ordinary shares, Earnings
Case study – Diluted EPS I and II
Retrospective adjustments
Presentation and Disclosure
IFRS 8 Operating Segments:-
US GAAP (SFAS 131)
Scope and Definitions
Reportable segments
Disclosure
General Information-Information about profit or loss, assets and liabilities, Basis of measurement and Reconciliations
Entity-wide disclosures
Usefulness, Benefits and Problems
IFRS 5 Non-Current Assets Held for Sale: -
Disposal group and its Illustration
“Held for sale” Classification and Criteria
Accounting and Definitions
Presenting Discontinued Operations
IAS 10 Events after the Reporting Period: -
Events after the reporting period
Adjusting Events and Non-Adjusting Events
Going Concern and Disclosures
IAS 24 Related Party Disclosures: -
Learning Objectives and Definitions
Related Parties
Key management personnel
Close family members
Parties not related
Disclosures
Government-related entities
IFRS 1 First-time Adoption of International Financial Reporting Standards: -
IFRS 1 Overview
First-time Adopters
IFRS 1 – Transition Overview and Issues Raised
Stages in Transition: -
Optional Exemptions
Mandatory Exceptions
IFRS 1 – Presentation and Disclosure
IFRS Impact Matrix
IFRS for Small and Medium-sized Entities: -
Presentation and Disclosure
Description
Simplifications made
Omitted topics
Disallowed treatments
Recognition and measurement
Disclosure requirements

Additional information

CERTIFICATION

Successful candidates receive the hard copy certificate usually in 7-10 working days and the link to soft copy can be accessed with in 2-3 working days, post exam date.

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