The IASB work plan and the conceptual framework for financial reporting and IFRS 13, Fair Value Measurement

Understand the concepts that underpin IFRS Standards

Learn the basic principles that underlie the IFRS® conceptual framework so that you better understand IFRS requirements and how they are reflected in the International Financial Reporting Standards®.

Key concepts include:

• General purpose financial reporting objectives
• Capital and capital maintenance
• Definition and determination of fair value
• Valuation techniques

Why IFRS is relevant to you

Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards (IFRS).

Whatever your location, you could easily find yourself with a client subject to IFRS requirements.

Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.

Enhance your skills through hands-on learning

Interactive learning elements and real-life examples will deepen your understanding so you can implement these concepts in practice.

Applying the conceptual framework and IFRS 13 guidelines to real-world case studies will better prepare you to assist clients subject to IFRS requirements.

This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

Who Will Benefit

• Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS.
• Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS.

Key Topics

• General purpose financial reporting objectives
• Qualitative characteristics of useful financial information
• Recognition, derecognition and measurement
• Presentation and disclosure
• Concepts of capital and capital maintenance
• Definition and determination of fair value
• Valuation techniques
• Guidance for financial instruments measured at fair value in accordance with IFRS 9, Financial Instruments

Learning Outcomes

• Identify the principles and concepts that underlie IFRS.
• Identify how the Conceptual Framework is reflected in IFRS standards.
• Identify fair value and the unit of account for fair value measurement.
• Recall the factors that are taken into account when determining fair value.
• Recall how IFRS 13 is applied to non-financial assets, liabilities and an entity’s own equity instruments.
• Distinguish between the various valuation techniques that are appropriate under different circumstances.
• Recall the fair value hierarchy.