Learn IFRS Through Case Studies Part 1

Practical Application of IFRS through Case-Based Accounting Scenarios

This course focuses on teaching IFRS through practical application. There are six cases in this course. Each case consists of five or six accounting/financial reporting scenarios (total of thirty-five scenarios). For each scenario, we will identify the relevant standards, complete a step-by-step analysis using the relevant IFRS standards, recommend correct accounting treatment and provide adjusting journal entries where applicable.

What you’ll learn

  • Practical application of IFRS to 35+ accounting scenarios across six cases.
  • Identify the relevant IFRS standard and steps to address the issue using the relevant standard.
  • Step-by-step analysis of the issue or scenario using the relevant IFRS standards.
  • Conclude on the appropriate accounting treatment and provide adjusting journal entries.

Course Content

  • Introduction –> 1 lecture • 6min.
  • Case 1 – Sky Airlines –> 7 lectures • 1hr 8min.
  • Case 2 – AirX –> 6 lectures • 58min.
  • Case 3 – Ben’s Construction Ltd. –> 7 lectures • 1hr 12min.
  • Case 4 – Andy’s Furniture Inc. –> 7 lectures • 44min.
  • Case 5 – Graeme Steyn Petroleum Inc. –> 7 lectures • 1hr 12min.
  • Case 6 – Toby’s Panda –> 8 lectures • 51min.

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Requirements

This course focuses on teaching IFRS through practical application. There are six cases in this course. Each case consists of five or six accounting/financial reporting scenarios (total of thirty-five scenarios). For each scenario, we will identify the relevant standards, complete a step-by-step analysis using the relevant IFRS standards, recommend correct accounting treatment and provide adjusting journal entries where applicable.

 

This way, you will learn the standards through practical application. An examination scenario might require you to analyze accounting/financial reporting issues using IFRS, and this course focuses on helping you gain competence in such scenarios. The videos and slides document the IFRS criteria under the relevant standard, an analyses of case facts using the criteria and a conclusion with adjusting journal entries where applicable. The actual case, along with slides, and where applicable an Excel file with calculations, is provided with each case under the first (introductory) video for each case.

 

The scenarios covered include issues such as leases, revenue recognition, financial instruments, accounting for business combinations, significant influence, joint arrangements and joint ventures, revaluation of PP&E, foreign subsidiaries and translation of foreign currencies, impairment calculations and allocation of impairment loss, environmental restoration liabilities, correction of errors and changes in estimates, employee termination benefits, investment property, subsequent events, deferred taxes and non-monetary exchanges.

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