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Financial Accounting: FAC3764
Classes
Class 1: 22/06/2024 (IAS 8 Changes in Accounting Policies)
Class 1: 22/06/2024 (IAS 8 Changes in Accounting Policies) - Class recording
Class 1: Homework Questions
Class 2: 29/06/2024 (IAS 8 Changes in Accounting Estimates and Prior period errors)
Class 2 Recording
Class 3: IAS 19 and IAS 21
Class 4: Financial instruments
Class 5: Financial Instruments
Class 6: Hedging and groups
Class 7: Business combinations
Class 8: Joint control
Learning unit 1: The conceptual framework for financial reporting
1. Live classes
2. Pre-recorded classes
3. The purpose of the Conceptual Framework
4. The objective of general purpose financial reporting
5. Information about a reporting entity’s economic resources
6. Information about a claims against the entity
7. Information about changes in resources and claims
8. The qualitative characteristics of useful financial information
9. The financial statements and the reporting entity
10. The elements of the financial statements
11. Recognition and derecognition
12. Measurement
13. Presentation and disclosure
14. The concepts of capital and capital maintenance
15. Summarized notes
IAS 2 Inventories
Objective
Definitions
Cost of inventories
Inventories purchased on deferred settlement terms
Techniques for the measurement of cost
Cost formulas
Net realisable value
Disclosure
IAS 1 Presentation of Financial Statements
Objective of the Standard
Definitions
Purpose of financial statements
Complete set of financial statements
General features of financial statements
Information to be presented in the statement of financial position
Information to be presented in the profit or loss section or the statement of profit or loss
Information to be presented in the other comprehensive income section
Information to be presented in the statement of changes in equity
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
1. An introduction to IAS 8
2. The objective of IAS 8
3. The definitions in IAS 8
4. The selection and application of accounting policies
5. The consistency of accounting policies
6. Accounting for changes in accounting policies
7. Changes in accounting estimates
8. The correction of prior period errors
9. Limits on retrospective restatement
10. Impracticability of retrospective restatement
11. Additional notes
12. Homework
13. Frameworks and templates
14. Practice questions
IAS 16 Property, plant and equipment
Objective
Definitions
Recognition
Standby equipment
Replacement of components
Measurement at recognition
Elements of cost
Examples of directly attributable costs
IAS 19: Employee benefits
1. IAS 19 Notes
2. Short-term employee benefits
3. Post-employment benefits
4. Other long-term benefits
5. Termination benefits
IAS 21: The Effects of Changes in Foreign Exchange Rates
1. An introduction to IAS 21
2. The objective of IAS 21
3. The definitions in IAS 21
4. Understanding what is meant by the functional currency of an entity
1. IAS 21 Notes
2. IAS 21 Explainer video
IAS 21 homework
IFRS 9 Financial Instruments
Additional notes
Homework questions
Practice questions
IFRS 3
1. Class example
2. Theory questions
3. Practice questions
IFRS 16 Leases
Additional notes and class examples
Class 2 Recording
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