International Financial Reporting Standards (IFRS)

40-hrs IFRS Training-DBE

This course is prepared for employees of Development Bank of Ethiopia.

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Course Content

1. Introduction
2. Generally Accepted Accounting Principles (GAAP)
3. International Accounting Standards Board (IASB)
4. IFRS Development Process
5. IFRS Harmonization and Convergence
1. Introduction and Purpose of the Conceptual Framework
2. Qualitative Characteristics
3. Elements of Financial Statements
4. Recognition and De-recognition
5. Measurement
6. Fair Value Measurement (IFRS 13)
7. Fair Value Measurement Considerations
8. Activity-Principal Market Vs Most Advantageous Market
9. Fair Value Measurement-Inputs
10. Valuation Techniques
1. Introduction
2. Overall Requirements of IAS 1
3. Objectives of Financial Statements
4. General Features of Financial Statements
5. Statement of Financial Position
6. Statement of Financial Position- Real World Example
7. Statement of Financial Position- Local Example (Ethiopian Airlines Group)
8. Statement of Profit or Loss and Other Comprehensive Income
9. Statement of Profit or Loss- Real World Example
10. Statement of Profit or Loss and OCI- Real World Example
11. Statement of Profit or Loss and OCI- Local Example (Ethiopian Airlines Group)
12. Statement of Changes in Equity
13. Statement of Changes in Equity-Local Example (Ethiopian Airlines Group)
1. Introduction
2. Quiz-Correcting Prior Period Error
3. Accounting Policies-Selection and Application
4. Changes in Accounting Policy
5. Accounting Estimates
6. Prior Period Errors
7. Quiz- Accounting Estimates
8. Activity-Prospective Application
9. Quiz-Change in Accounting Policy
1. Introduction
2. IFRS 15 Core Principles
3. Five Step Process
4. Step 1- Identifying Contract
5. Step 2- Identifying Performance Obligations
6. Activity-Identifying Performance Obligations
7. Real World Example- Performance Obligations
8. Step 3- Transaction Price
9. Transaction Price- Significant Financing Component
10. Activity- Significant Financing Component
11. Step 4- Allocating Transaction Price
12. Activity-Allocation of Transaction Price
13. Step 5- Recognizing Revenue
14. Step 5- Recognize Revenue- Example
15. Quiz #1
16. Input Vs Output methods
17. Balances in SoFP
18. Contract Costs
19. Principal Vs Agent
20. Repurchase Agreements
21. Bill and Hold Arrangements
22. Consignment Arrangements
23. Quiz # 2
1. 1.Introduction
2. 2.What are Inventories
3. 3.Initial Measurement
4. 4.Cost flow Assumptions.m4v
1. 1.Introduction
2. 2.Acquisition of PPE
3. Quiz # 1
4. 3.Initial Measurement
5. 4.Subsequent Costs
6. 5.Depreciation
7. 6.Activity-Changes in Depreciation Estimates
8. Quiz # 2
9. 7.Subsequent Measurement
10. 8.Recognizing Revaluation
11. 9.Example-Accounting Upward Revaluation
12. 10.Example-Accounting Downward Revaluation
13. 11.Revaluation and Depreciation
14. 12.Depreciation after Revaluation
15. 13.Disposal of PPE
16. Quiz # 3
1. 1.Introduction
2. 2.Definitions
3. 3.Recognition and Measurement
4. 4.Grants related to Assets
5. 5.Activity-Grants related to Assets
6. 6.Grants related to Income
7. 7.Breach of Grant Conditions
8. 8.Illustration-Breach of Grant Conditions
9. 9.Illustration-Breach of Grant Conditions Continued
10. 10.Additional Issues
1. 1.Introduction
2. 2.What is Investment Property
3. 3.Recognition and Measurement
4. 4.Subsequent Measurement
5. 5.Change in Use
1. 1 Introduction
2. 2 Lease Identification
3. 3 Activity - Identifying a Lease
4. 4 Lease Term
5. 5 Lessee Accounting
6. 6 Lease Liability - Initial Measurement
7. 7. Illustration - Calculation of Lease Liabilitymp4
8. 8 Right-of-Use Asset - Initial Measurement
9. 9 Illustration - Right-of-Use Asset
10. 10 Subsequent Measurement
11. 11 Illustration - Subsequent Measurement
12. 12 Answer to Illustration - Subsequent Measurement
13. 13 Recognition Exemptions
14. 14 Sale and Leaseback
15. 15 Illustration - Sale and Leaseback
1. 1.Introduction
2. 2.What are Intangible Assets
3. 3.What is Goodwill
4. 4.Recognition Criteria
5. 5.Research and Development
6. 6.Initial Measurement
7. 7.Activity-Inital Measurement
8. 8.Subsequent Measurement
9. 9.Activity-Development Cost
1. 1.Introduction
2. 2.Scope of IAS 36
3. 3.Indicators of Impairment
4. 4.Annual Test of Impariment
5. 5.The impariment Test
6. 6.Fair Value Less Cost of Disposal
7. 7.Activity-Value in Use
8. 8.Recognizing Impairment Loss
9. 9.Activity-Recognition of Impairment Loss
10. 10.Allocating Shared Cost to CGU
11. 11.Allocating Impairment Loss to CGU
12. 12.Activity-Impairment of CGU
13. 13.Reversal of Impairment loss-Individual Asset
14. 14.Reversal of Impairment Loss for CGU
1. 1. Introduction
2. 2. Definition of Event After Reporting Period
3. 3. What are Events After Reporting Period
4. 6. Activity-Adjusting Vs Non- Adjusting
5. 7. Real World Example
6. 4. Adjusting Vs Non-Adjusting
7. 5. Dividends
1. 1.Introduction
2. 2.Current Tax
3. 3.Deferred Tax
4. 4.Temporary Differences
5. 5.Activity-Tax Base
6. 6.Activity-Non Current Assets
7. 7.Activity-Non Current Assets (Continued)
8. 8.Approaches to Deferred Tax
9. 9.Step 2
10. 9.1.Step 3
11. 10.Steps 2 and 3 (Continued)
12. 11.Step 4
13. 12.Revaluation and Deferred Tax
14. 13.Activity-Revaluation and Deferred Tax
15. 14.Activity-Revaluation and Deferred Tax (Continued)
1. IAS 2
2. IAS 8
3. IAS 10
4. IAS 12
5. IAS 16-Part I
6. IAS 16-Part II
7. IAS 19
8. IAS 20
9. IAS 21
10. IAS 23
11. IAS 24
12. IAS 36
13. IAS 37
14. IAS 38-Part II
15. IAS 38-Part I
16. IAS 40
17. IFRS 2
18. IFRS 5
19. IFRS 9
1. IFRS Assessement

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175 lessons
11.5 hours of video content

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40-hrs IFRS Training-DBE

Course Content

International Financial Reporting Standards

Conceptual and Regulatory Framework

Presentation of Financial Statements (IAS1)

Accounting Policies (IAS 8)

Revenue from Contracts with Customers (IFRS 15)

Inventory (IAS 2)

Property, Plant and Equipment (IAS 16)

Government Grants (IAS 20)

Investment Property (IAS 40)

Leases (IFRS 16)

Intangible Assets (IAS 38)

Impairment of Assets (IAS 36)

Events after the Reporting Period (IAS 10)

Income Taxes (IAS 12)

Resources-Summary of Selected Standards

Assessement

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