Introduction to IFRS

• Financial Reporting Framework
• The Future Agenda for IFRS
• IFRS: Current Year Update

Statement of Financial Position

• Elements of Statement of Financial Position
• Forms and Formats
• Classification of Assets
• Classification of Liabilities
• Classification of Stockholders' Equity
• Required Disclosures and Footnotes

Comprehensive Income

• Concept of Comprehensive Income
• Recognition and Measurement
• Items on the Income Statement
• Components of Other Comprehensive Income

Statement of Changes in Equity and Statement of Cash Flows

• Disclosures and Alternatives
• Reporting Non Controlling Interest
• Operating, Investing and Financing Cash Flows
• Direct versus Indirect Methods

Accounting for Assets

• Cash and Receivables
• Measuring and Valuing of Inventory
• Property, Plant and Equipment
• Accounting for Investment Property
• Intangible Assets and Research and Development (R&D) Costs
• Accounting for Debt and Equity Investments
• Fair Value Measurement

Liabilities and Stockholders' Equity

• Current Liabilities and Accruals
• Accounting for Contingencies
• Long-Term Liabilities
• Accounting for Debt and Equity Transactions
• Capital, Retained Earnings and Reserves

Revenue Recognition

• Concepts, Rules and Examples
• Revenue Recognition Criteria
• Measurement of Revenue

Accounting in the Future

• Summary of the Recent Exposure Drafts