IFRS: A Primer

by Lisa Weaver
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Find out about the core aspects of financial reporting under IFRS
  • Understand the importance of IFRS and the role of The International Accounting Standards Board (IASB)
  • Get to grips with the standards and how they are applied in practice, including accounting for assets and liabilities
  • Understand the IFRS framework and how it relates to other local standards
  • Refresh your knowledge and understanding of IFRS

Companies all over the world account under International Financial Reporting Standards (IFRS) so as an accountant it's important to have a grasp on these standards and how they are applied.

Whether you're looking for a refresher or just want to familiarise yourself with IFRS, this course provides an overview of IFRS and how to report under these standards. Not only will you learn about the IFRS regulatory framework, fundamental accounting concepts, and developing accounting policies, you'll also explore how to account for assets, liabilities, income, and expenses.

An introduction to the IFRS regime

  • IASB and the IFRS Standards
  • The IFRS for SMEs
  • Global adoption of IFRS

IFRS financial statements

  • Accounting policies
  • Presentation of financial statements
  • The statement of financial position
  • The statement of profit or loss and other comprehensive income
  • The statement of changes in equity
  • The statement of cash flows

Accounting for assets

  • Assets - definitions and concepts
  • Property, plant, and equipment
  • Measurement subsequent to initial recognition
  • Discussing PPE measurement
  • Intangible assets
  • Measuring and categorising intangible assets
  • The impairment of assets
  • Current assets

Accounting for liabilities

  • Provisions, contingent liabilities, and contingent assets
  • BP's provisions and the Gulf of Mexico oil spill
  • Specific types of provision
  • Leasing
  • Financial liabilities

Accounting for revenue and discontinued operations

  • Revenue recognition
  • Recognising revenue over time
  • Discontinued operations

Lisa Weaver is a professionally qualified (ICAEW) lecturer with 20 years experience of exam-based, and CPD lecturing for accounting and finance professionals. Lisa qualified with Deloitte and her clients ranged from major charities, multi-national organisations and listed companies to football clubs.

Since leaving audit practice, Lisa has lectured financial reporting, audit and governance subjects, developing and delivering CPD courses for qualified accountants working in industry and in practice. Lisa has delivered courses across Europe, the Caribbean, China and South East Asia.Lisa is now an Associate Professor at Warwick Business School, delivering on a range of programmes including MBA. She is a Senior Fellow of the Higher Education Academy in the UK.

ACCA logo

ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.