International Financial Reporting Standards 1

The Conceptual and Regulatory Framework for Financial Reporting

Welcome to the first week of our IFRS-1 course! This course is supposed to introduce you to the very basics of IFRS. If you are looking for the deeper knowledge in IFRS and Financial Accounting, you are advised to consider other courses within our Degree Masters Program (e.g., IFRS-2). In this first week you will learn the very basics of Financial Reporting. We will have a closer look at the principle elements of financial statements and discuss the possible frameworks for Financial Reporting. At the same time you will have chance to learn more about qualitative characteristics of financial information, recognition and measurement and accounting information system.

An Overview of The Standards: Accounting for Assets and Financial Instruments

In the second week of our course we will dive into accounting for assets and financial instruments. We will have a closer look at both tangible non-current and intangible assets. We will also discuss impairment of assets and talk about basic features of inventory and biological assets. After going through all that you will be introduced to accounting for financial instruments.

Recording Transactions and Events

In the third week of our course we will continue our exploration of reporting standards for different types of company's assts and liabilities. This week's topic are very diverse and will include such themes as Accounting Policies, Estimates and Errors, different types of Liabilities, Valuation of Inventories and Depreciation and Impairments. We will also start to look into Reporting Financial Performance.

How to Prepare Financial Statements

Our fourth week is dedicated to studying different types of financial statements. We will look all the key components of company's reporting, such as Statement of Financial Position, P&L, Statement of Changes in Equity, Statement of Cash Flow and Trial Balance. All this will be done with the help of our guest Irina Kotlyarova, Financial Planning and Analysis Manager in JTI. In the last video we will discuss how to work around various events, which occur after reporting period.

Cash Flows: Introduction and Basic Definitions

In this week of our course we will look deeper into Cash Flows Analysis. Our expert, Irina Kotlyarova, Financial Planning and Analysis Manager in JTI, will guide you through all three types of Cash Flows from Operating to Financial and Investment activities and how to calculate them.

How to Analyze and Interpret the Financial Statements

The last week of our course is all about Financial Statements and Ratio analysis. We will look at limitations which may occur during your work with different Financial Statements. After this week you will also know how to calculate all crucial ratios, which include Liquidity, Solvency, Profitability and Market Value Ratios.