IFRSs are to be interpreted in the context of the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements, which addresses the concepts underlying the information presented in general purpose financial statements. IFRS standards set out definitions of key concepts as well as recognition, measurement, presentation and disclosure requirements for financial statements. The purpose of this course is to familiarize you with the Preface, the IFRS Framework and the Conceptual Framework revision project.
- Describe the IFRS governance structure
- Describe the IFRS framework, including the preface, core concepts, hierarchy, glossary and individual components.
- Describe the Conceptual Framework revision project.
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