At the end of this course, the candidates will be able to:

• Recognize the underlying concepts and principles of IFRS.
• Identify the required format and content of a complete set of financial statements, including required footnote disclosures; and identify the presentation and disclosure requirements of a statement of cash flows, including the proper classification of operating, financing, and investing activities.
• Indicate and apply the requirements of new standards on revenue recognition (IFRS 15) and leases (IFRS 16).
• Identify the classification, recognition, measurement, and disclosure of common financial statement assets and liabilities.
• Identify and account for an impairment loss with respect to a nonfinancial asset.
• Recall required disclosures for related parties and events after the reporting period.
• Identify and calculate tax amounts to be recognized in the financial statements.
• Recognize the accounting treatment applied to share-based payments and employee benefits.
• Recall accounting requirements for business combinations, joint arrangements, and investments in associates.
• Identify and calculate tax amounts to be recognized in the financial statements.
• Recall the accounting requirements applicable to entities that transact in or keep accounting records in foreign currency.
• Indicate how to measure fair value when required by IFRS standards.