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IAS 1 Financial Statement Presentation- IFRS

  • CPA (CA)
  • CFE
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

What does IFRS require when presenting general purpose financial statements to ensure comparability both with financial statements of previous periods and with the financial statements of other organizations?

What are some of the differences between presenting financial statements under US GAAP and under IFRS? Quite a few actually! US GAAP uses rules while IFRS is much more principles-based, leaving room for judgment in what fits the circumstances best. It allows for financial statements to be more suited to the needs of the users and ultimately presents a “truer” picture of the financial condition and performance of the entity.

IAS1 is very specific and a clear understanding of this standard is essential to presenting an IFRS compliant statement that meets the general-purpose needs of the users of the financial statements.

This CPE webinar will give you a bird’s eye view as well as use a drill-down approach for presenting clear, reliable, relevant, and comparable information in a financial statement that complies with IFRS standard number IAS1.

This online Accounting CPE webinar covers the following key topics:

  • Review additional statements management needs to provide with IFRS financial statements.
  • Understand the “Do’s and Don’ts” of formatting IFRS financial statements.
  • Learn the asset/ liability offsetting rules for presentation in IFRS financial statements.
  • Understand what needs to be in the Notes to financial statements and what can stay out
  • Know the disclosure requirements of IAS 1.
  • Examine general concepts and rules for presentation of IFRS financial statements under IAS 1
  • Know the minimum inclusion requirements in order to comply with IAS 1.
  • Explore options for presenting profit or loss and other comprehensive income together or in two sections as part of the IFRS financial statements.

This CPE course will describe in detail the overall requirements for the presentation of financial statements, guidelines for their structure, minimum requirements for their content, what to include and what not to include, as well as a good view as to what should be in the notes to the statements.

This online CPE webinar will be very helpful for CPAs, CFO's and other accounting professionals.

Learning Objectives

  • To examine the major parts of the IFRS financial statements (profit-or-loss statement, balance sheet, statement of equity, cash flow statement, and notes)
  • Easy to follow, step-by-step walk through of IAS 1
  • To explore the minimum inclusion requirements in order to comply with IAS 1.
  • To explore the guidelines for the structure and options for presenting the profit and loss and other comprehensive income as per IFRS
  • To recognize the disclosure requirement as per IAS 1

Recommended For

  • This Accounting CPE course is recommended for CPAs, CMAs, CIAs, Accounting Managers, Chief Accounting Officers, Financial Reporting Directors, and Other Accounting Professionals involved in the preparation or review of financial statements.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Business Owner
  • CEO
  • Certified Management Accountant
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Accounting
  • Director of Financial Reporting
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Fraud Examiner (CFE)

Presenter

About Presenter

Michel Morley

Founder Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

9 Ratings

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4

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DC

Delia Cervantes, CPA (US)

Feb 25th, 2021

I was very happy with the presentation. The instructor was very thorough and gave specific examples all along the presentation. Addressed the judgements needed for policy presentation. An absolute bang for the buck. Yes, it could have been faster, but no regrets. Highly recommended.

JT

Jennifer Thomas, CPA (US)

Jul 22nd, 2021

The course was a good general overview of IFRS Financial Statement presentation guidelines. The pace was a bit slow. I was hoping for some real-world examples of IFRS financial statements and disclosures to help with understanding the material better.

IAS 1 Financial Statement Presentation- IFRS

$20

2 Credits

Subject Area

Accounting

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