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IFRS Module 1 Presentation of Financial StatementsCode: 22-IFRS1
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Module 1of the IFRS Learning Module series provides a “deep dive” into the principles governing the presentation of financial statementsunder IFRS. This includes a review of the IASB’s Framework, which addresses the concepts underlying the information presented in IFRS financial statements. It also includes detailed discussions of the IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows. Finally, this course provides an in-depth look at the joint IASB/FASB project that will result in sweeping changes to financial statement presentationin the near future.
After completing this course, participants should be able to:
- Identify financial reports that are within the scope of the IASB Framework.
- Recognize practices that are consistent with the underlying assumptions and qualitative characteristics of financial statements prepared in accordance with the IASB Framework.
- Describe the characteristics of general purpose financial statements required under IFRS.
- Identify and classify the various elements of IFRS financial statements.
- Describe the IASB/FASB joint project on financial statement presentation and its impact on financial reporting.