Program

• Determine the circumstances that can serve as an indicator that a possible impairment of an asset has occurred
• Describe what a «cash-generating unit» is
• Determine and calculate the recoverable amount of the asset, as well as any related impairment losses
• Determine the basis for allocating an asset’s impairment loss and be able to allocate the impairment loss to the assets that make up the cash-generating unit
• Maintain records of the recovery of an impairment loss that was recognized in the previous period

• Reflect the accounting for the right to use the asset and the obligation to lease it in the lessee’s reports.
• Explain exceptions to the lease recognition criteria in the lessee’s reports
• Reflect accounting for sales and leases in the lessee’s reports
• Explain the differences between operating and Finance leases from the landlord’s point of view.
• Reflect the accounting of operating and financial leases in the financial statements of the lessor.

• Discuss the nature and possible methods of accounting for acquired intangible assets and internally generated intangible assets, including goodwill
• Distinguish between goodwill and other intangible assets
• Set out the criteria for initial recognition and measurement of intangible assets
• Explain the essence of the goodwill impairment test that occurred when the company was acquired
• Identify the circumstances under which there is income from a purchase at a below-market price (negative goodwill), and the procedure for its subsequent accounting
• Describe and be able to apply the requirements of IFRS standards to internally generated intangible assets other than goodwill (for example, research and development)
• Describe the method proposed by IFRS for accounting for exploration and evaluation of mineral resources

Measure and evaluate inventory

• Explain the definition of financial instruments
• Determine the appropriate classification of financial instruments, including financial instruments subject to» separate classification», such as convertible loans.
• Discuss and record the initial and subsequent measurement (including impairment for financial assets) of financial assets and liabilities in accordance with appropriate IFRS standards, as well as related financial costs.
• Discuss the conditions necessary for the write-off (derecognition) of a financial asset or liability.
• Explain the conditions required to use hedging.
• Prepare financial information for hedge accounting purposes, including the impact of treating hedging methods as either a fair value hedge or a cash flow hedge
• Describe the disclosure requirements for financial instruments in the notes to the financial statements

• Explain the need for IFRS standards for reserves, and provide examples of abuse in this area.
• To give a definition of estimated liabilities, legal and actual obligations, past events and the transfer of economic benefits.
• To establish when you ought to be created estimated liabilities, and when not, and how they should be taken into account.
• Explain how the estimated liabilities should be measured.
• To give a definition of contingent assets and liabilities, to give examples and describe the accounting
Identify and report on:
  — onerous contracts;
  — environmental and similar reserves

• Describe the essence of the defined contribution plan system and the defined benefit scheme
• Explain the recognition and measurement of defined benefit pension plans in employers ‘ financial statements
• Keep records of pension plans in employers ‘ financial reports

• Keep records of current tax liabilities and assets in accordance with IFRS
• Describe the principles of state sales taxes (for example, VAT or sales tax)
• Describe the principles of deferred tax accounting
• Explain the impact of taxable and recoverable temporary differences on accounting and taxable profit
• Identify and report on deferred tax assets and liabilities in accordance with the requirements of IFRS
• Calculate and reflect deferred taxes in the financial statements

• Distinguish between the presentation currency and the functional currency
• Determine the functional currency of the enterprise
• Discuss the accounting of business transactions in foreign currency and the translation of the balance of monetary / non-monetary items at the reporting date in the individual statements of enterprises in accordance with appropriate IFRS standards

•  Distinguish the scope of application of IFRS standards for agriculture
•  Discuss recognition and measurement criteria, including accounting for gains and losses, and the inability to reliably estimate fair value
•  Define and explain how government subsidies are accounted for, as well as the presentation and disclosure of information related to agriculture
•  Report on the transformation of biological assets and agricultural products at the time of harvest and on agricultural government subsidies

• Understand the term «share-based payments»
• Discuss the key concept of fair value measurement of transactions
• Explain the difference between a cash payment transaction and a share payment transaction
• Define principles related to the evaluation of transactions with payments using shares, both in cash and in equity instruments
• Calculate the indicators that should be reflected in the financial statements if the company conducts a transaction in which the payment is made using shares

• Describe the need for an IFRS standard for this area and explain its scope
• Provide examples of cost elements that can be taken into account in the initial evaluation of exploration and appraisal assets
• Describe how exploration and evaluation assets can be classified and reclassified
• Explain when and how exploration and evaluation assets should be tested for impairment

• Explain the principles of fair value measurement in accordance with IFRS
• Determine appropriate methods for measuring the fair value of an asset or liability in the given circumstances