IFRS®: Related Party Disclosures (IAS 24) and The Effects of Changes in Foreign Exchange Rates (IAS 21)
Requirements for IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates, are covered to help you assist clients subject to IFRS® Standards.
Format
Online
NASBA Field of Study
Accounting
Level
Basic
CPE Credits
2
Author(s)
AICPA and CIMA staff, Helen Kerrigan
Availability
1 year
Product Number
IFRSCERTS25SSO
Foundational knowledge for related party disclosures and the effects of foreign exchange rates
Understanding the basic requirements and principles of IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates will empower you to assist clients subject to these standards.
Key concepts you'll explore include:
- Related party transactions
- Functional currency determination
- Consolidating financial statements that include a foreign subsidiary
- Calculating goodwill
Relevant in the modern business environment
Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards®.
Whatever your location, you could easily find yourself with a client subject to IFRS requirements.
Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.
Practical learning through realistic scenarios
The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course.
The real-world case studies will allow you to practice what you learn and apply your knowledge of IFRS requirements.
This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.
Who Will Benefit
- Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS® Standards.
- Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.
Key Topics
- Related party definition
- Related party transactions
- Related entities
- Disclosure requirements
- Functional currency definition and determination
- Translating a foreign currency transaction
- Calculating and presenting exchange differences (gains and losses) on financial statements
- Consolidating financial statements that include a foreign subsidiary and calculating goodwill
Learning Outcomes
- Identify what is a related party and which disclosures are required for related party transactions under IAS 24, Related Party Disclosures.
- Identify how an entity determines its functional currency and recognizes foreign currency transactions in the functional currency.
- Identify how to translate an entity’s financial statements into a presentation currency and the implications for consolidated financial statements, including a foreign subsidiary.
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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