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Track 9 · Advanced

Intermediate and Advanced Financial Reporting

The conceptual framework, estimates and policy changes, financial instruments, fair value, deferred tax, EPS, group accounts and foreign currency.

Lessons in this track are written against IFRS Accounting Standards, with US GAAP differences noted where they matter. They are educational summaries, not a substitute for the standards.

Lessons
13
Exercises
85
Time
6 h 10 min

Module 1

Framework and presentation

  1. 01

    The Conceptual Framework

    Apply the qualitative characteristics and element definitions to borderline items.

    Classification · Concept checks · Sequencing · Conceptual Framework (2018)

    Members25 min
  2. 02

    Estimates, policy changes and errors

    Distinguish changes in estimates, changes in policy and prior-period errors and apply each treatment.

    Journal entries · Worksheets · Calculations · Classification · Concept checks · IAS 8

    Members30 min
  3. 03

    Events after the reporting period

    Classify adjusting and non-adjusting events.

    Journal entries · Calculations · Classification · Concept checks · IAS 10

    Members20 min
  4. 04

    Related parties and segment reporting

    Identify related-party transactions and reportable segments.

    Worksheets · Calculations · Classification · Concept checks · IAS 24, IFRS 8

    Members20 min

Module 2

Measurement

  1. 01

    Classifying financial instruments

    Classify financial assets by business model and cash-flow characteristics.

    Journal entries · Calculations · Classification · Concept checks · IFRS 9.4.1

    Members30 min
  2. 02

    Fair value measurement

    Place inputs in the fair value hierarchy and explain the measurement.

    Worksheets · Calculations · Classification · Concept checks · IFRS 13

    Members20 min
  3. 03

    Deferred tax

    Compute temporary differences and the deferred tax asset or liability.

    Journal entries · Worksheets · Calculations · Classification · Simulator · IAS 12

    Members35 min
  4. 04

    Earnings per share

    Compute basic and diluted EPS.

    Worksheets · Calculations · Concept checks · IAS 33

    Members25 min

Module 3

Groups and foreign currency

  1. 01

    Business combinations and goodwill

    Measure goodwill and non-controlling interest at acquisition.

    Journal entries · Calculations · Classification · IFRS 3

    Members30 min
  2. 02

    The consolidation worksheet

    Consolidate a parent and subsidiary and eliminate the investment.

    Journal entries · Worksheets · Calculations · Classification · Simulator · IFRS 10

    Members40 min
  3. 03

    Intercompany eliminations

    Eliminate intercompany balances, sales and unrealised profit.

    Journal entries · Worksheets · Calculations · Classification · Simulator · IFRS 10.B86

    Members35 min
  4. 04

    Foreign currency transactions

    Translate transactions and monetary balances and record exchange differences.

    Journal entries · Worksheets · Calculations · Classification · Concept checks · IAS 21

    Members30 min
  5. 05

    Translating foreign operations

    Translate a foreign subsidiary's statements and explain the translation reserve.

    Journal entries · Worksheets · Calculations · Classification · Concept checks · IAS 21.39

    Members30 min