International Financial Reporting Standards are changing how companies account for long-lived tangible assets on their financial statements. Fixed assets can be classified basically in to two categories i.e tangible & intangible, Under IFRS, IAS-16 –Property, Plant & Equipment deals with tangible fixed asset except the assets held for capital appreciation.
Fixed assets are subject to an unusually large amount of record keeping, as well as very specific accounting treatment under the IFRS accounting framework. In addition, given the large expenditures involved in fixed assets and the complexity of the accounting, you can expect a high degree of auditor interest in this area. Accountants are expected to decide how to first record the acquisition of long-lived assets, assess the value at which they are presented on future financial statements, and work out the allocation of the cost of these assets over future reporting periods. In addition IFRS allows periodic re-evaluation of long-lived assets under certain conditions, but with so many choices for assigning a value, you need to know the exact way of doing it.
This webinar will outline the step-by-step procedure for implementation and examine the many factors that companies need to carefully consider when implementing International Financial Reporting Standards for Fixed Assets.
HIGHLIGHTS OF THE WEBINAR :
Concepts and rules for Property, Plant, and Equipment
Choices of Revaluation methods under IFRS
Impairment of tangible long-lived assets
Capitalization of borrowing costs
Retirements and other disposals of long-lived assets
Nonmonetary (exchange) transactions
Disclosure requirements
Financial statement presentation.
The webinar will also discuss examples that will help to develop and understand the process and requirements of accounting for Fixed Assets under IFRS.
Learning Objectives
To recognize how to first record the acquisition of long-lived assets
To assess the value at which long-lived assets are presented on future financial statements
To identify how to work out the allocation of the cost of fixed assets over future reporting periods.
To write the appropriate Notes
To recognize the unique disclosure and presentation requirements of IFRS for Fixed Assets
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
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
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.
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For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).
