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IFRS Fixed Assets (Property, Plant & Equipment)

  • Accountant
  • CPA/ABV
  • CPA (CA)
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

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 assets 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 Accounting CPE 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.

This online Accounting CPE webinar covers the following key topics:

  • 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 CPE course 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 know how to write the appropriate Notes
  • To recognize the unique disclosure and presentation requirements of IFRS for Fixed Assets

Recommended For

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

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 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 for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Fraud Examiner (CFE)
  • 2 CPD Credit for Accredited in Business Valuation (ABV)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CPD Credit for Certified Financial Forensics (CFF)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

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.
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  • 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

3.8

17 Ratings

Excellent

3

Very Good

10

Average

2

Poor

2

Terrible

0

JW

John Wirtz, CIA

Nov 29th, 2021

This course was extremely helpful and a valuable learning experience.

CD

Carla Darce, CPA (US)

Jan 22nd, 2021

It is excellent to have a piece of comprehensive information in the webinar and handout material. With practical tips, it would be a shame to miss such a rich webinar experience. myCPE works for me. I recommend it.

JP

Jennifer Pauli, CPA (US)

May 20th, 2021

well laid out presentation

TTT

Tracy Tremblay Tremblay, CPA (US)

Jan 22nd, 2022

As a presenter myself I understand how difficult it can be to be engaging so I am very careful when providing feedback. But this webinar far from met my expectations. Was looking for a refresher on fixed assets as my team is building a Fixed assets program - specifically was looking for a review of depreciation method calculations - when it got to that part the speaker said "so these are the depreciation methods - I know you are all familiar with them so we wont spend any time on this". I was so disappointed!

RC

Robin Cooke, CPA (US)

Aug 24th, 2021

not targeted to specific aspect of IFRS regs, spent too much time on ancillary topics

IFRS Fixed Assets (Property, Plant & Equipment)

$20

2 Credits

Subject Area

Accounting

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