This course offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS). It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments.

The course is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down all eight chapters of IASB’s conceptual framework chapter by chapter basis. There are examples, which are based on real-life examples, and many exercises, multiple-choice questions, review and final exam questions for you to test your knowledge as you progress through the course.

Course Key Concepts: IASB Conceptual Framework, Accounting assumptions, Accounting principles, Fundamentals of accounting, IASB, FASB, Accounting standards, IAS, IFRS, Global accounting standards, Global accounting principles, 8 Chapters of conceptual framework, The board.

Learning Objectives
  • Identify and understand the origins of the International Accounting Standards Board (IASB, 'the Board').
  • Explore the structure of the IFRS Foundation.
  • Identify and understand the objective of conceptual framework, International Accounting Standards (IAS® Standards), and International Financial Reporting Standards (IFRS® Standards) that are currently in issue.
  • Explore the IASB Conceptual Framework - All eight (8) chapters.
  • Explore the qualitative characteristics of financial reporting.
  • Discover the purpose of financial statements - The Conceptual Framework for Financial Reporting.
Last updated/reviewed: March 27, 2024
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  The Preview4:58
  The history of IASB13:44
  The IFRS Foundation4:16
  The Exposure Draft (ED) Procedure6:14
IASB Conceptual Framework - 8 Chapters
  Chapter 1 - The Objective6:44
  Chapter 2 - The Qualitative Characteristics15:12
  Chapter 3 - The reporting entity3:10
  Chapter 4 - The elements of financial statements5:38
  Chapter 5 - Recognition and De-recognition3:34
  Chapter 6 - Measurement8:12
  Chapter 7 - Presentation and disclosures3:45
  Chapter 8 - Capital Maintenance3:42
EXAMPLES AND CASESTUDY
  Example one4:58
  Example Two2:42
  Example Three5:48
  Comprehensive Case Study.28:30
CONTINUOUS PLAY
  IASB Conceptual Framework - All 8 Chapters2:01:07
SUPPORTING MATERIAL
  Slides: IASB Conceptual Framework - All 8 ChaptersPDF
  IASB Conceptual Framework - All 8 Chapters Glossary/ IndexPDF
  Handouts: Conceptual Framework for Financial ReportingPDF
  Handouts: The IASB’S Conceptual FrameworkPDF
  Examples and Case StudyXLSX
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam