IFRS Module 1 Presentation of Financial StatementsCode: 22-IFRS1

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.

Objectives:

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.