Professional Accountant (IFRS)

1.1. Objectives, composition, and content of financial statements under IFRS

• Purpose of financial statements
• Composition of financial statements:

— IAS 1 Presentation of Financial Statements

• Contents of financial statements (practice)

1.2. Conceptual and methodological basis of finance reporting

• Principles of preparing financial statements
• Qualitative characteristics of reporting

1.3. Types of measurements. Discounted value

• Types of measurements
• Discounted value:

   — IFRS 13 Fair Value Measurement.

• Interest and Future Value
• Present (Discounted) Value
• Annuities

1.4. Development of the company's accounting policy

• Key requirements for the accounting policy:

  — IAS 8 (IFRS) Accounting Policies, Changes in Accounting

  Estimates and Errors.

• Changes in accounting policy and changes in estimates
• Recognition of errors and methods of their correction

2.1 Long-Term tangible assets

• Property, plant, and equipment:

   — IAS 16 Property, Plant and Equipment.

• Investment property:

   — IAS 40 Investment Property.

2.2. Intangible assets and asset impairment

• Intangible assets, types:

   — IAS 38 Intangible Assets.

• Assessment after recognition
• Useful life
• Asset impairment:

   — IAS 36 Impairment of Assets.

• Recognition and measurement of losses
• Goodwill

3.1. Current assets

• Inventories —

   — IAS 2 Inventories

• Inventory impairment
• Methods of cost assessment
• Recognition as expenses

3.2. Non-current assets held for sale and discontinued operations

• Recognition criteria, initial and subsequent evaluation

   — IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

• Presentation in financial statements

3.3. Provisions, contingent liabilities

• Definition, recognition criteria, initial and subsequent assessment

   — IAS 37 Provisions, Contingent Liabilities and Contingent Assets

• Contingent liabilities

4.1. Financial instruments

• Recognition and measurement of financial assets and financial liabilities

   — IFRS 9 Financial Instruments

• Disclosure and presentation of information

   — IAS 32 Financial Instruments: Presentation

   — IFRS 7 Financial Instruments: Disclosures

4.2. Leases

• Principles of recognition, measurement, presentation, and disclosure

   — IFRS 16 Leases

• Accounting for the Right-of-Use asset and lease liability in lessee's financial statements
• Accounting for sale and leaseback in lessee's financial statements
• Accounting for leases in lessor's financial statements

5.1. Recognition of revenues and expenses

• Principles of reporting revenue and cash flows from contracts with customers

— IFRS 15 Revenue from Contracts with Customers

• Five-step model for revenue recognition
• Costs related to contracts

5.2. Statement of cash flows

• Requirements and definitions

— IAS 7 Statement of Cash Flows

• Cash and cash equivalents
• Presentation of the statement of cash flows
• Operating, investing, and financing activities

6.1. Forms of investments in other companies

• Investments in associates and joint ventures

   — IAS 28 Investments in Associates and Joint Ventures

• Joint operations

   — IFRS 11 Joint Arrangements

6.2. Business combinations and consolidated financial statements

• Business combinations

   — IFRS 3 Business Combinations

• Consolidated financial statements

   — IFRS 10 Consolidated Financial Statements

• Disclosure of information

   — IFRS 12 Disclosure of Interests in Other Entities

7.1. (IAS) 21 The Effects of Changes in Foreign Exchange Rates

• Reflecting transactions in foreign currencies in the functional currency
• Accounting for transactions and balances denominated in foreign currencies

7.2. (IAS) 23 Borrowing Costs

• Recognition and commencement of capitalization
• Suspension and cessation of capitalization
• Disclosure requirements

7.3. (IAS) 24 Related Party Disclosures

• Scope of application
• Groups of companies
• Related party
• Disclosure requirements

7.4. Other special topics

• (IAS) 24 Interim Financial Reporting
• (IFRS) 1 First-time Adoption of International Financial Reporting Standards

8.1. Other aspects of financial reporting and financial accounting

• (IAS) 10 Events After the Reporting Period
• (IAS) 12 Income Taxes
• (IAS) 20 Accounting for Government Grants and Disclosure of Government Assistance

8.2. Industry-specific financial reporting standards

• (IAS) 41 Agriculture
• (IFRS) 4 Insurance Contracts
• (IFRS) 6  Exploration for and Evaluation of Mineral Resources

Module 9 represents an equivalent of the upcoming online exam:

• It includes a test (20 questions, 2 points each, maximum score - 40 points, automatically checked and assessed).
• And assignments (4 tasks, maximum total score - 60, evaluated by the instructor).
• Just like in the exam, the goal is to achieve a total of 60 points out of 100 for both the test and assignments.