Both IFRS and IFRS for SMEs are self-contained standards designed to meet the needs of specific financial statement users. This course is designed to explain the differences between the two standards, including disclosure requirements and recognition and measurement principles.
DESIGNED FOR
Anyonne responsible for preparing or attesting upon financial statements
BENEFITS
- Describe the importance of proper debt classification and disclosure
- Explain how various common debt terms impact the classification of debt
- Apply illustrative examples to appropriate disclosure of debt terms and circumstances
HIGHLIGHTS
- Debt terms that impact classification of debt, such as due on demand and subjective acceleration clauses, and more!
- Proper treatment of short-term obligations that are expected to refinance within the next 12 months
- "Revolving" credit agreements, where short-term debt is automatically replaced with other short-term debt for a specified period of time
- Differentiating between debt modifications and troubled debt restructuring
- Debt covenant compliance special considerations, including the proper form of waiver of rights to call the debt for violation
PREREQUISITES
None
ADVANCE PREPARATION
None