IFRS Mastery — Illustrated Study Guide (Expert)

The advanced study guide for the IFRS Expert certification. Six modules take you into the standards where judgement is hardest and the guidance is newest: complex group accounting (step acquisitions, partial disposals with and without loss of control, changes in ownership as equity transactions, and foreign subsidiary translation under IAS 21 and IFRS 10); advanced financial instruments (fair value, cash flow and net investment hedges, the 10% modification test, embedded derivatives and the own-use exemption); IFRS 17 Insurance Contracts (the General Measurement Model, the Premium Allocation Approach and the Variable Fee Approach, the CSM and risk adjustment); the ISSB sustainability standards IFRS S1 and S2 (four pillars, Scope 1/2/3 emissions, scenario analysis, connectivity and assurance); the new presentation regime (IFRS 18, effective 2027 and replacing IAS 1, plus IFRS 19); and first-time adoption, IFRIC 23 and an integrated multi-standard capstone. Rich with Mermaid diagrams, journal entries and fully worked numeric examples.

Key facts

• Course price: Free
• Field: Finance & Accounting
• Prepares for: IFRS — Expert
• 6 modules · 12 lessons · about 5 hours of lessons
• Self-paced, online, illustrated lessons

Course outline

1. Advanced Group Accounting — Step (piecemeal) acquisitions and changes in ownership that retain control; partial disposals with and without loss of control; and consolidating and translating foreign subsidiaries under IAS 21…
   • Step Acquisitions and Changes in Ownership
   • Loss of Control and Foreign Subsidiaries
2. Advanced Financial Instruments — Hedge accounting in depth (fair value, cash flow and net investment hedges), documentation and effectiveness; the modification and derecognition of financial liabilities (the 10% test); embedded…
   • Hedge Accounting in Depth
   • Modification, Derecognition and Embedded Derivatives
3. IFRS 17 Insurance Contracts — Scope and the three measurement models — the General Measurement Model (Building Block Approach), the Premium Allocation Approach and the Variable Fee Approach; the contractual service margin and…
   • The Measurement Models and the CSM
   • Onerous Contracts, Presentation and Reinsurance
4. Sustainability and the Future of Reporting — The ISSB and the IFRS Sustainability Disclosure Standards — IFRS S1 (general requirements) and IFRS S2 (climate); the four pillars; Scope 1/2/3 emissions and scenario analysis; connectivity with the…
   • The ISSB, IFRS S1 and IFRS S2
   • Emissions, Scenario Analysis and Assurance
5. The New Presentation Regime — IFRS 18 (effective 2027, replacing IAS 1) — the operating/investing/financing categories, the new required subtotals and management-defined performance measures; IFRS 19 reduced disclosures; and…
   • IFRS 18 — Categories, Subtotals and MPMs
   • IFRS 19 and Transition from IAS 1
6. Judgement, First-time Adoption and Capstone — IFRS 1 first-time adoption (the opening IFRS statement of financial position, mandatory exceptions and optional exemptions); IFRIC 23 uncertain tax treatments; hard revenue judgements; and a…
   • First-time Adoption, IFRIC 23 and Hard Judgements
   • Capstone — An Integrated Multi-Standard Case