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IFRS - First-time Adoption of International Financial Reporting Standards – IFRS 1   

1.5

Total CPE
Tuition
$165.00
Approximate Length
01:00:00
Course Number
21-WB-457
1.5

Total CPE
Tuition
$165.00
Approximate Length
01:00:00
Course Number
21-WB-457

Course Details

This course provides an overview of transition requirements, mandatory exceptions and mandatory exemptions available on the first-time adoption of IFRS.

By the end of this course, participants should be able to:

  • identify the general requirements to be applied when an entity adopts IFRS and prepares its first IFRS financial statement
  • identify the mandatory exceptions and optional exemptions granted by IFRS 1
  • recognize the process of adoption and conversion to IFRS
  • identify the presentation and disclosure requirements including the required reconciliations when an entity prepares its first IFRS financial statements
  • apply IFRS 1 to specific scenarios related to applicability, mandatory exceptions and optional exemptions, transition adjustments, and required financial statements and reconciliations.

Note: This course references data and sources that were available at the time of development. Please visit the Financial Reporting View website for the most up-to-date guidance and insights.

Keywords: First-Time Adoption of International Financial Reporting Standards, IFRS 1, Accounting

Other Details

Special Notice/Instruction: CPE credits will be awarded upon successful completion of the content and passing the exam with a grade of 70 or higher. In accordance with NASBA requirements, you must complete and pass the exam within one year of your enrollment in the program.

NASBA Delivery Type: Self-Study

Advance Preparation: There is no advance preparation for this course.


Level of Knowledge: Basic
Field of Study: Accounting - 1.5
Delivery Method: Web Based Self Study

This course provides an overview of transition requirements, mandatory exceptions and mandatory exemptions available on the first-time adoption of IFRS.

By the end of this course, participants should be able to:

  • identify the general requirements to be applied when an entity adopts IFRS and prepares its first IFRS financial statement
  • identify the mandatory exceptions and optional exemptions granted by IFRS 1
  • recognize the process of adoption and conversion to IFRS
  • identify the presentation and disclosure requirements including the required reconciliations when an entity prepares its first IFRS financial statements
  • apply IFRS 1 to specific scenarios related to applicability, mandatory exceptions and optional exemptions, transition adjustments, and required financial statements and reconciliations.

Note: This course references data and sources that were available at the time of development. Please visit the Financial Reporting View website for the most up-to-date guidance and insights.

Keywords: First-Time Adoption of International Financial Reporting Standards, IFRS 1, Accounting

Special Notice/Instruction: CPE credits will be awarded upon successful completion of the content and passing the exam with a grade of 70 or higher. In accordance with NASBA requirements, you must complete and pass the exam within one year of your enrollment in the program.

NASBA Delivery Type: Self-Study

Advance Preparation: There is no advance preparation for this course.


Level of Knowledge: Basic
Field of Study: Accounting - 1.5
Delivery Method: Web Based Self Study
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