Udemy

Platform

English

Language

Accounting & Bookkeeping

Category

International Financial Reporting Standards (IFRS)

The most engaging tutorial on IFRS

4.43 (7 reviews)

Students

1.5 hours

Content

Jun 2021

Last Update
Regular Price

Topics

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What you will learn

International Financial Reporting Standards issued by IASB

IAS 16 Property plant and equipment , Asset Decommissioning Provisions, IAS 36 - Impairment of Assets


Description

International Financial Reporting Standards (IFRS) set common rules to be followed by companies so that financial statements can be consistent, transparent and comparable around the world. IFRS are issued by the International Accounting Standards Board (IASB). They specify how companies must maintain their accounts and report them. IFRS was established to create a common accounting language.

IAS 16 on Property Plant and Equipment is the most important and a popular accounting standard that specifies when to recognise an item as a PPE, how to measure the cost of PPE and how to account for items recognized as a PPE. It also specifies various depreciation methods to be followed by companies around the world.

IAS 16 on Property Plant and Equipment is also tested quite often in examinations like ACCA, CPA and CA and should be mandatorily known by accountants working in companies if their entity follows IFRS.


IAS 36 on Impairment of Assets is one more popular and complex accounting standard which specifies some common indicators of impairment and guides us on how to test for impairment and to account for it.


IAS 36 is one more commonly tested topic in examinations and commonly encountered issues by entities.


Screenshots

International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS)

Content

Property Plant and Equipment - IAS 16

Introduction

Property Plant and Equipment - IAS 16 - Recognition

Recognize a PPE

Initial Measurement of a PPE

Other Scenarios - Property Plant and Equipment - IAS 16

Property Plant and Equipment - Treatment of Spare Parts

Quiz 2

Residual Value - Property Plant and Equipment - IAs 16

Depreciation (Intro) - Property Plant and Equipment - IAS 16

7.Straight Line Method - Property Plant and Equipment - IAS 16

Practice problems on st. Line method - Property Plant and Equipment - IAS 16

Diminishing Balance Method - Property Plant and Equipment - IAS 16

Practice problems on diminishing balance method - PPE - IAS 16

Units of Production Method - Property Plant and Equipment - IAS 16

Practice problems on Units of production method - Property Plant and Equipment

Partial Depreciation - Property Plant and Equipment - IAS 16

Practice problems on partial depreciation - PPE - IAS 16

Subsequent Measurement of PPE - Revaluation Model

Asset Decommissioning Provisions

Property Plant and Equipment - Asset Decommissioning Provisions - Introduction

PPE - Asset Decommissioning Provisions - Recognizing Liability

PPE - Decommissioning Provisions - Measurement

Quiz - Asset Decommissioning

Impairment of Assets - IAS 36

Impairment of Assets - IAS 36 - Introduction

Impairment of Assets - IAS 36 - Practice problem on impairment loss

Impairment of Assets - IAS 36 - CGU

Impairment of Assets - IAS 36 - Reversal of impairment loss

Impairment of Assets - IAS 36 - Practice problem on impairment reversals

Calculate the following


Reviews

H
Honore8 October 2020

I am appearing for CPA exams and this course made many things a lot easier. Expecting more standards to be included.

J
Jane7 October 2020

It was great taking this course. It has covered important standards in IFRS and breaks down some of the complex issues into digestible chunks that I did not understand from reading books or referring to materials. IAS 36 on Impairment of assets is really made easy! Way to go!

A
Ana12 September 2020

Very clear explanations. Thank you. I have a question, How do we account for bearer plants under IAS 16 Property plant and equipment?


3008018

Udemy ID

4/15/2020

Course created date

9/12/2020

Course Indexed date
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