Applying IFRS — Illustrated Study Guide (Associate)

An illustrated, example-driven study guide for the IFRS Associate certification. Six modules carry you through the recognition and measurement rules at the heart of IFRS reporting: the IFRS 15 five-step revenue model, worked with stand-alone selling-price allocations, variable consideration and the constraint, principal-versus-agent analysis and over-time versus point-in-time recognition; property, plant and equipment under the IAS 16 revaluation model and component depreciation, with borrowing costs (IAS 23), government grants (IAS 20) and investment property (IAS 40); intangible assets and impairment (IAS 38 and IAS 36), including cash-generating units and goodwill; provisions, onerous contracts and contingencies (IAS 37); leases under IFRS 16, with a fully worked lessee amortisation lab and lessor classification; and income taxes under IAS 12, built from the tax-base concept up through worked deferred-tax computations. Rich with Mermaid diagrams, comparison tables, journal entries and numeric examples, and a hands-on lease lab.

Key facts

• Course price: Free
• Field: Finance & Accounting
• Prepares for: IFRS — Associate
• 6 modules · 12 lessons · about 3 hours of lessons
• Self-paced, online, illustrated lessons

Course outline

1. Revenue in Depth (IFRS 15) — The five steps applied with worked allocations on stand-alone selling prices; variable consideration and the constraint; principal versus agent; over-time versus point-in-time recognition; and…
   • The Five Steps Applied
   • Variable Consideration, Principal vs Agent, and Contract Balances
2. PP&E and Related Standards — The IAS 16 revaluation model and component depreciation (worked); borrowing costs on qualifying assets (IAS 23); government grants (IAS 20); and investment property under the cost and fair value…
   • Revaluation and Component Depreciation (IAS 16)
   • Borrowing Costs, Grants and Investment Property (IAS 23, 20, 40)
3. Intangibles and Impairment — Recognition of intangibles and the research-versus-development divide (IAS 38); and the impairment model of IAS 36 — recoverable amount, cash-generating units and goodwill — with worked numeric…
   • Intangible Assets (IAS 38)
   • Impairment of Assets (IAS 36)
4. Provisions and Contingencies (IAS 37) — The three recognition criteria; measurement by best estimate, expected value and present value; onerous contracts, restructuring provisions and warranties; and contingent liabilities versus…
   • Recognising and Measuring Provisions
   • Onerous Contracts, Restructuring, Warranties and Contingencies
5. Leases (IFRS 16) — The lessee right-of-use model at initial and subsequent measurement; the short-term and low-value exemptions; lessor classification (finance versus operating); and a hands-on lab with a fully worked…
   • The Lessee Model — Right-of-Use Asset and Lease Liability
   • Lab: A Worked Lease Amortisation, plus Lessor Accounting
6. Income Taxes (IAS 12) — Current tax and the tax-base concept; taxable versus deductible temporary differences; deferred tax liabilities and assets with worked computations; the recognition test for deferred tax assets; and…
   • Current Tax and the Tax Base Concept
   • Deferred Tax: Worked Computations and Presentation