Track F: Financial Reporting (IFRS)
Track F is an independent course. It is not affiliated with or endorsed by the IFRS Foundation.
What you will be able to do
- Use present value and the effective interest method
- Build lease, revenue and credit-loss calculations
- Test impairment and measure provisions
- Work out deferred tax, currency differences and group adjustments
- Calculate basic and diluted earnings per share
19 lessons and projects. Short, practical steps in a spreadsheet, with real Excel for the features a browser cannot run.
Outline
Module 1: Reporting tools
- Present value for reporting
- Effective interest method: amortised cost schedule
Module 2: Leases (IFRS 16)
- Lease liability at the start date
- Lease liability schedule: interest and payments
- Right-of-use asset and depreciation
- Lease journals and the effect on the statements
Module 3: Revenue (IFRS 15)
- Sharing the price by standalone selling price
- Revenue over time: percentage of completion
- Contract assets and contract liabilities
Module 4: Assets, credit losses and provisions
- Expected credit loss: provision matrix
- Impairment test: recoverable amount
- Provisions: discounting and unwinding
- Property, plant and equipment movement table
Module 5: Tax, currency and groups
- Deferred tax from temporary differences
- Foreign currency: transaction and year-end rates
- Consolidation: removing intragroup balances and profit
- Goodwill and non-controlling interest
- Earnings per share: basic and diluted
Capstone: year-end adjustments for a group
Completing it earns a certificate of completion. It is not an accreditation or a professional qualification.
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