This course is part of a series of comprehensive, integrated IFRS courses that equips participants with training, knowledge and practical guidance in international accounting standards necessary in today’s global business environment. This course on International Financial Reporting Standards helps participants to gain an overview of IFRS and a solid working knowledge of both the fundamentals and detailed workings of IAS 36, Impairment of Assets. Cognizant of the constantly changing IFRS landscape, the course ensures that professionals in this field are up-to-date with changes of the standards. This course focuses on the accounting and reporting of investment property in accordance with IFRS.
Who Should Attend this Course?
- Accounting and finance professionals who work for private or public organizations that have adopted IFRS
- Accountants in public practice who provide services to private or other publicorganisations that have adopted IFRS
- All professionals who want to stay up to date with current requirements of IFRS including:
- Accountants and Financial Analysts
- Financial Managers and Directors
- All Finance personnel
- Auditors of financial statements prepared in terms of IFRS
Learning Outcomes
The course helps participants:
- By providing insights and updates on IFRS
- apply IFRS to key elements of financial reports• identify when an entity should test for impairment
- ensure that an entity’s assets are not carried at more than their recoverable amount
- conduct impairment tests where there is an indication of impairment of an asset
- understand what impairment and impairment loss is
- know the timing of when impairment testing must take place
- understand and identify indicators of impairment
- understand and identify a cash generating unit
- Understand and be able to calculate and disclose impairment losses for individual assets and CGUs
- understand and determine the recoverable amount
- identify possible reversals of previously recognized impairment losses and how to measure and recognize such reversals
- demonstrate an understanding of significant decisions that are required in accounting for impaired assets