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ELearning portal on IFRS

ELearning portal on IFRS

ELearning portal on IFRS : To reinforce the IFRS Foundation’s goal of promoting the adoption and consistent application of International Financial Reporting Standards (IFRS). In fulfilling its objective, the Education Initiative takes into account the particular needs of small and medium-sized entities (SMEs) and emerging economies.

How do we do this? The Education Initiative aims to leverage the work of others, complementing and not derogating from IFRS:

  • Framework-based approach to IFRS capacity building
  • IFRS adoption and implementation support
  • IFRS for SMEs adoption and implementation support
  • Investor-focused IFRS education

ELearning portal on IFRS

To a large extent, IFRS financial reports are based on estimates, judgements and models rather than exact depictions. As jurisdictions adopt IFRS, they wonder how much their previous practices must change to apply IFRS rigorously and consistently. Three series of regional IFRS teaching workshops to assist:

(i) IFRS teachers and IFRS trainers educate IFRS accountants more effectively;

(ii) adopting jurisdictions develop a cohesive understanding of IFRS; and

(iii) regulators understand the framework for IFRS judgements. The main focus of these sessions is to encourage and support a Framework-based approach to IFRS that is designed to develop capacity to make the necessary judgements and estimates.

ELearning portal on IFRS 

Aim To contribute to the rigour and consistency in which IFRS Standards and the IFRS for SMEs are applied worldwide by supporting the development of a cohesive understanding of IFRS and capacity to make the judgements that are necessary to apply/audit/regulate/analyse IFRS financial information. How do we do this? Supporting IFRS teachers:

  • we provide IFRS teachers with a range of free-to-download comprehensive IFRS teaching material that is designed to develop students’ ability to make IFRS judgements and estimates
  • we find resources for the translation of that material into widely spoken languages
  • we facilitate regional workshops to train IFRS teachers and IFRS trainers in the effective use of that material Supporting adopting jurisdictions:
  • we facilitate IFRS capacity-building workshops for adopting jurisdiction IFRS stakeholders to develop the IFRS mindset and capacity to make/audit/regulate the judgements necessary to apply IFRS Supporting IFRS regulators:
  • work with the world’s development agencies and others to enhance IFRS regulatory capacity-building in emerging and developing markets by facilitating regional multi-day IFRS regulatory capacity-building workshops Progress.

ELearning portal on IFRSComprehensive teaching material published on a range of topics and languages in three separate sections

  1. Stage 1: a student’s first financial reporting course;
  2. Stage 2: a financial reporting course mid-way to qualifying as a CA, CPA or equivalent; and
  3. Stage 3: a course immediately before qualifying as a CA, CPA or equivalent.

ELearning portal on IFRS – Numerous IFRS capacity building workshops Comprehensive teaching material Translations Liabilities Stage 1; Stage 2;

  •  Stage 3—the Build It Yourself case study, the Too Big To Fail Bank case study and the Woody case study Japanese, Korean, Polish, Russian and Spanish Non-financial assets Stage 1; Stage 2; and
  • Stage 3—the Open Safari case study and the Open Safari case study adapted for the IFRS for SMEs Arabic, Chinese, French, Japanese, Korean, Polish, Portuguese, Russian and Spanish The IAS 8 hierarchy
  • Stage 3—the Amalgam case study and the Amalgam case study adapted for the IFRS for SMEs Arabic, Chinese, Japanese, Korean, Portuguese, Polish, Russian and Spanish Correction of prior period errors and changes in accounting policies, accounting estimates and classifications Stage 1 and Stage 3—the Big Change case study Spanish Business combinations and consolidated financial statements Stage 1 and

Stage 3—the Acquisitive case study Korean, Polish, Russian and Spanish.

ELearning portal on IFRS

SMEs and the multitude of small and medium-sized practices (SMPs) that support them generally do not have the financial reporting resources and capabilities that the larger entities that use IFRS have. Aim To encourage the informed adoption of the IFRS for SMEs and to contribute to the rigour and consistency with which it is implemented and applied. How do we do this?

  • We develop free-to-download comprehensive training material—one module for each section of the IFRS for SMEs, which explains each requirement (commentary and examples of application) and provides self assessment questions and case studies
  • We send resources for that material to be translated into widely spoken languages
  • We facilitate regional workshops to train the trainers in the effective use of that training material Progress
  • 35 comprehensive training modules and PPT slides to support three days of training have been published
  • Translations in Arabic, French (PPT only), Portuguese (PPT only), Russian, Spanish and Turkish have been published
  • 37 regional ‘Train the trainer’ workshops have been facilitated
  • The material is now being updated for the 2015 amendments to the IFRS for SMEs To download the SME training modules.

ELearning portal on IFRS Modules:

ModulesTitles
1Small and Medium-sized Entities
2Concepts and Pervasive Principles
3Financial Statement Presentation
4Statement of Financial Position
5Statement of Comprehensive Income and Income Statement
6Statement of Changes in Equity and Statement of Income and Retained Earnings
7Statement of Cash Flows
8Notes to the Financial Statements
9Consolidated and Separate Financial Statements
10Accounting Policies, Estimates and Errors
11Basic Financial Instruments
12Other Financial Instruments Issues
13Inventories
14Investments in Associates
15Investments in Joint Ventures
16Investment Property
17Property, Plant and Equipment
18Intangible Assets Other Than Goodwill
19Business Combinations and Goodwill
20Leases
21Provisions and Contingencies
22Liabilities and Equity
23Revenue
24Government Grants
25Borrowing Costs
26Share-based Payment
27Impairment of Assets
28Employee Benefits
29Income Tax
30Foreign Currency Translation
31Hyperinflation
32Events after the End of the Reporting Period
33Related Party Disclosures
34Specialised Activities
35Transition to the IFRS for SMEs

ELearning portal on IFRS

In 2013 the Education Initiative started an Investor-focused project in response to issues observed in various forums and in staffs’ subsequent discussions with investor groups about investor-focused IFRS education. Aim The objective of the Investor Education Programme is to improve investors’ knowledge of IFRS Standards, including the judgements and estimates that are necessarily made when preparing IFRS financial information. Improving investors’ knowledge of IFRS aims to help:

  • Reduce the perceived need for industry-specific IFRS guidance and IFRS Interpretations; and
  • Contribute indirectly to increasing the consistency and rigour with which IFRS is applied. Our activities include
  • Working with established investor professional associations/investor organisations to enhance the IFRS knowledge and competences of their members
  • The development of a more comprehensive suite of investor-focused products and services
  • Arranging investor-focused IFRS updates at IFRS Foundation conferences and other events Working with others As part of the IFRS Education Initiative, much of the Investor Education Programme’s work is performed in conjunction with others, including investor profession associations and other investor organisations throughout the world.

ELearning portal on IFRS – Welcome to the Help page for the eIFRS Web App.

This eIFRS Web App provides eIFRS Basic users and eIFRS Professional users with a range of practical IFRS information optimised for use on tablets and mobile devices.

ELearning portal on IFRS -The Web App :

  • Access our latest Standards offline (eIFRS Professional users only)
  • Follow the latest IFRS Foundation news, events and project updates including the IASB work plan and project pages

Click on the links below for further information:

  • Log in Guide (for iPad® and iPhone® Users)
  • Log in Guide (for Android™ Users)
  • eIFRS Web App FAQs
  • What is the difference between an eIFRS Basic user and an eIFRS Professional user?
  • How to become an eIFRS Professional users

ELearning portal on IFRS

IFRS Assessment and reassessment of IAS 38 Intangible Assets

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