IFRS - Review of the Standards

EVENT DESCRIPTION

NOTE: This course description has been revised and reflects updates for 2022. If you have any questions, please contact pdevents@cpaontario.ca

SCHEDULE

The objective of this seminar is to provide participants with a solid introduction to Part I - International Financial Reporting Standards (IFRS).

This seminar will cover all of the International Financial Reporting Standards (IFRS) incorporated as part of CPA Canada Handbook – Accounting – Part I. The focus is on the IFRS standards that apply to most profit-oriented entities. At the end of this two-day seminar you will be aware of the foundation of IFRS and be able to explain IFRS content. Examples and exercises are incorporated throughout the session for you to identify application issues.

Topics Include:

• Overview of IFRS
• Conceptual framework and fair value measurement
• Financial statement presentation
• Revenue
• Property plant and equipment
• Investment property
• Intangible assets
• Impairment of assets
• Leases
• Financial instruments
• Income taxes
• Liabilities
• Strategic investments and separate financial statements
• Other IFRS standards e.g. interim financial reporting, related party transactions,, employee benefits
• Specialized industries e.g. agriculture, mining, insurance, rate-regulated entities
• First-time adoption considerations
• Impact of Covid-19 on accounting
• Relevant resources

KEY TAKEAWAYS

Upon completing this course, you be able to:

• Explain the IFRS standards that apply to most profit-oriented entities.
• Identify changes to IFRS and impact on financial statements.
• Identify impact of Covid-19 on accounting policies.
• List relevant resources (with links).

WHO WILL BENEFIT

Professionals who work in financial reporting and related areas of publicly accountable enterprises or other enterprises applying IFRS, who are reading financial statements of publicly accountable enterprises, or who wish to be able to explain IFRS standards. Audit committee members who would like to gain an understanding of IFRS may also find this to be a useful seminar.

PREREQUISITE KNOWLEDGE

Familiarity with CPA Handbook – Accounting Part I is useful but not required. p>

PRICING

Status: Registration open until Mar 29, 2023

LOCATION

Online

SPEAKER(S) BIO

Elizabeth J. Farrell, FCPA, FCA is an Adjunct Professor at the Schulich School of Business. In recognition of her excellence in teaching she was selected as the winner of the Seymour Schulich Award for Teaching Excellence in 1999, 2003 and 2009 and nominated for the award in 2004, 2005, 2006, 2011 and 2015. She was selected as the winner of the John Peace Teaching Award in 2002 and 2012. Elizabeth served as assistant coordinator at CPA Ontario's School of Accountancy. She has taught executive development courses for the Schulich School of Business, professional development courses for CPA Ontario and firms. Elizabeth is a co-author of Intermediate Financial Accounting. Her publications also include an accounting case analysis software package, study guides, ASPE: A Comparison to IFRS, IFRS A Review of the Standards, IFRS Leases and co-author Researching and Documenting an Accounting Issue and ASPE and NFPO Update, professional development courses, and a variety of case material. Elizabeth was a member of the Competency Map Committee. She was one of the lead authors for the assurance elective module for the CPA PEP program. Elizabeth has also served on the Board of Directors for a number of not for profit organizations.