Applying IFRS - IAS 21 The Effects of Changes in FX Rates

Focused View

Judith Leung CA

1:21:12

96 View

1 - Introduction

1 - Introduction.mp4

07:37

2 - Topic 1 Determining Functional Currency

2 - Determining Functional Currecy.mp4

09:53

2 - IAS-21-013-Practice-Aid-1-Identifying-Functional-Currency.pdf

2 - IAS-21-Functional-Currency-Lecture.pdf

3 - IAS-21-014-Practice-Questions-1-Identifying-Functional-Currency-Question.pdf

3 - IAS-21-014-Practice-Questions-1-Identifying-Functional-Currency-solution.pdf

3 - Topic-1-Worked-Examples.pdf

3 - Worked Examples.mp4

08:50

4 - Frequently Asked Questions.mp4

06:45

4 - IAS-21-012-Functional-Currency-FAQ.pdf

3 - Topic 2 Reporting FX Transactions

5 - IAS-21-020-Reporting-FX-Transactions-Lecture.pdf

5 - Practice-Aid-2-Reporting-FX-transaction.pdf

5 - Reporting FX Transactions.mp4

08:33

6 - IAS-21-021-Reporting-FX-Transactions-Worked-Examples.pdf

6 - IAS-21-024-Practice-Questions-2-Reporting-FX-transactions-Question.pdf

6 - IAS-21-024-Practice-Questions-2-Reporting-FX-transactions-Solution.pdf

6 - Worked Examples.mp4

07:36

7 - Frequently Asked Questions.mp4

08:09

7 - IAS-21-022-Reporting-FX-Transactions-FAQs.pdf

4 - Presentation Currency

8 - IAS-21-030-Presentation-Currency-Lecture.pdf

8 - Practice-Question-3-Presentation-Currency.xlsx

8 - Presentation Currency.mp4

04:31

5 - Topic 4 Foreign Operation

9 - Foreign Operation.mp4

10:14

9 - IAS-21-024-Practice-Questions-4-Foreign-Operations-Question.pdf

9 - IAS-21-024-Practice-Questions-4-Foreign-Operations-solution.pdf

9 - IAS-21-040-Foreign-Operations-Lecture.pdf

6 - Conclusion

1 - Knoweldge Checker.html

10 - Closing.mp4

02:08

10 - Knowledge-checker-solution.pdf

7 - IFRIC 22

11 - IFRIC 22.mp4

06:56

11 - IFRIC-22.pdf

Description

Understand and practically apply IAS 21 in practice

What You'll Learn?

Apply the requirements in IAS 21 and determine the functional currency of an entity
Use the correct exchange rates to record foreign currency transactions
Use the correct exchange rates to translate financial statements into the presentation currency
Correctly translate foreign operations and deal with intragroup monetary items

Who is this for?

Accountants

Financial Controllers

Financial Accountants

Financial Auditors

Chief Financial Officers

Accounting students learning IFRS

Qualified accountants preparing financial statements under IFRS

More details

Description
Access high quality financial accounting traning by an IFRSÂ expert who has extensive experience in preparing IFRSÂ training for a large global accounting firm.
The aim of each IFRS Learning Academy course is to bring you the theory (i.e. technical requirements in the standard) in an easy to understand and engaging manner as well as sharing many real life examples from practice. Each IFRSÂ Learning Academy course breaks down the technical jargon and language in the standard through the use of diagrams and plain English.Â It therefore is an excellent course and resource for both accounting students and practitioners.Â The highly practical course makes it relevant for both accounting students as well as accountants and auditors in practice.
This course provides you with an indepth and solid understanding of the theory as well as the practical application of IASÂ 21 The Effects of Changes in Foreign Exchange Rates.Â The course contains, lectures, worked examples, practice questions, frequently asked questions and practice aids.
IAS 21 sets out how to include foreign currency transactions and foreign operations in an entity's financial statements and how to translate the financial statements into a presentation currency.
The principal issues are:
Which exchange rate(s) to use; and
How to report exchange rate changes in the financial statements.
The course addresses practical Frequently Asked Questions:
Can an entity change its functional currency?
Can the functional currency of the parent be different from the functional currency of a subsidiary?
What is the functional currency of a SPV with no active operations?
Will an impairment loss always arise in the functional currency if there has been an impairment loss on a foreign currency asset ?
What are some examples of assets where the FX gain or loss are recognised in OCI and not profit or loss?
Why are exchange differences from translation recognised in OCI and not P/L?
What types of monetary items form part of a reporting entityâ€™s net investment in a foreign operation?
What happens to the amount recognised in OCI when a reporting entity sells the foreign operation? Does the cumulative FX movements remain in OCI?
There is also a short bonus course on IFRIC 22 Foreign Currency Transactions and Advance Consideration.
Who this course is for:
Accountants
Financial Controllers
Financial Accountants
Financial Auditors
Chief Financial Officers
Accounting students learning IFRS
Qualified accountants preparing financial statements under IFRS

User Reviews

Rating

average 0

Total votes0

Focused display

Accounting

Judith Leung CA

Instructor's Courses

Judith Leung is a highly experienced IFRS expert and has a deep passion and interest in creating engaging and practical IFRS training courses. She has over 16 years experience working in the application and interpretation of IFRS. She had previously worked at the IASB as an IASB staff on the development of IFRS 9 Financial Instruments. She also has extensive expereinces working at the IFRS desk of a global accounting network firm, authoring a number of indepth IFRS publications and training materials, as well as providing advice on the application and interpretation of IFRS to a wide range of clients. She is also a casual acadmic with the Chartered Accountants Australia and New Zealand and assists with writing course materials for the Chatered Accountants program. She also has in house accounting policy experience within Australia's largest organisations, providing practical IFRS advice and support across all areas of the organisation.

Udemy

View courses Udemy

Students take courses primarily to improve job-related skills.Some courses generate credit toward technical certification. Udemy has made a special effort to attract corporate trainers seeking to create coursework for employees of their company.