Course Information
IFRS: Property, Plant and Equipment
Course Information
| Title: | IFRS: Property, Plant and Equipment |
|---|---|
| Category: | Accounting and Auditing |
| Field of Study: | Accounting |
| Course Code: | A020-0246 |
| CPE Credits: | 3.0 |
| Price: | 27.95 |
Description
Description:
IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (“IFRS”). IFRS represents the global accounting principles that provide the foundation for most of the world’s financial reporting. These Standards establish the recognition, measurement, presentation and disclosure requirements for transactions and events reflected in IFRS financial statements. The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounti
Delivery Method: Online Interactive Self Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
Course Details
Category: Accounting and Auditing
Field of Study: Accounting
Passing Score: 70%
Technical Details: Accounting is a technical field of study.
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Objectives
Objectives:
1. Recognize the proper accounting treatment for acquisitions of property, plant and equipment (and other associated costs) under IFRS. 2. Calculate depreciation using the methods permitted under IAS 16. 3. Identify the process for determining whether or not a long-lived asset is impaired under IAS 36. 4. Distinguish between the ‘cost’ and ‘revaluation’ accounting models (as described in IAS 16). 5. Recognize the similarities and differences between IFRS and U.S. GAAP in the area of property, plant and equipment.
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Profession
NASBA: Yes
QAS: Yes
CPA: Suitable for all CPAs
IRS: No IRS credit for Enrolled Agents.
Profession Identifiers: CPA