This can be subjective and so this course looks at all the key areas of potential difficulty:
- IAS 37 deals with provisions, involving a high degree
of estimation and judgement.
- IAS 19 and 26 deal with employee benefits and
retirement benefits plans and the consequences can therefore be substantial.
- IAS 12 deals with taxation – any miscalculation in this area can be extremely costly.
Throughout the course the focus is on the impact on the "bottom line".
Course overview
IAS 37: Provisions, Contingent Liabilities and Contingent Assets
- What are the objectives and scope of IAS 37?
- What are the key definitions?
- What is the difference between a provision and other
types of liability?
- What are the specific rules that must be complied with?
- How do we deal with contingent liabilities and assets?
- How do I measure provisions?
- How do I establish and change provisions?
- What are the disclosure requirements?
IAS 19: Employee Benefits
- What are the objectives and scope of IAS 19?
- What are the basic definitions?
- What do I need to know about employee benefits?
- What is the difference between post-employment defined
contribution and defined benefit plans?
- How do we account for post-employment benefits in
different situations?
- What changes when a defined benefit plan is involved?
- How do actuarial assumptions impact on the
calculations?
- How are past services costs and gains and losses on
settlements calculated?
- How are plan assets recognised and measured?
- What are the disclosures required for defined benefit plans?
IAS 26: Accounting and Reporting by Retirement Benefit Plans
- What are the objectives and scope of IAS 26?
- How are defined contribution plans dealt with by IAS
26?
- How are defined benefit plans dealt with by IAS 26?
- How are actuarial present values calculated?
- How should financial statements of the plan be
presented?
- What disclosures need to be made?
IAS 12: Income Taxes
- What are the objectives and scope of IAS 12?
- What are the key definitions?
- How are taxable temporary differences accounted for?
- How are deductible temporary differences accounted for?
- How are current and deferred tax liabilities and assets
measured?
- What are the rules relating to recognition of current
and deferred tax?
- How should tax assets and liabilities be presented?
- What disclosures need to be made?