At the end of this course, the participants should be able to:
- Apply IFRS when preparing final accounts.
Definitions
- Holding company
- Subsidiary
- Group
- Power
- Relevant activities
- Consolidated financial statements
- Control
- Non-controlling interest
Conceptual Framework for Financial Reporting
- The Objective Of General Purpose Financial Reporting.
- Qualitative Characteristics Of Useful Financial Information
- Financial Statements and the Reporting Entity
- The Elements of Financial Statements
- Recognition and Derecognition
- Measurement
- Presentation and Disclosure
IFRS 10
- The objective of the standard and the requirements to achieve it.
- Scope
- Investor's control of the investee
- Power over the work of an investee
- Returns
- Link between power and returns
- Accounting requirements
- Non–controlling interests
- Loss of control
- Determining whether an entity is an investment entity
IFRS 11
- The objective of the standard and the requirements to achieve it.
- Scope
- Joint arrangements
- Joint control
- Types of joint arrangement
- Financial statements of parties to a joint arrangement
- Joint operations
- Joint ventures
- Separate financial statements
IFRS 12
- The objective of the standard and the requirements to achieve it.
- Scope
- Significant judgements and assumptions
- Investment entity status
- Interests in subsidiaries
- The interest that non–controlling interests have in the group’s activities and cash flows
- The nature and extent of significant restrictions
- Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control
- Consequences of losing control of a subsidiary during the reporting period
- Interests in unconsolidated subsidiaries
- Risks associated with an entity’s interests in joint ventures and sister companies
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