FRS Syllabus By KPMG

IFRS Syllabus By KPMG : financial statements help you to prepare financial

statements in accordance with IFRS. They are compliance-focused and have two
components:

Illustrative disclosures, including supplements, that illustrate one possible

format for financial statements prepared under IFRS, based on a fictitious
multinational corporation; and
a companion Disclosure checklist, which identifies the disclosures that may be
required based on currently effective standards.
IFRS Syllabus By KPMG
IFRS Syllabus By KPMG : provides a realistic set of financial statements for a
corporate entity, based on the requirements of IFRS standards and interpretations
for financial years beginning on or after 1 January 2014. The entity is an existing
preparer of IFRS consolidated financial statements.�

The �Illustrative� series includes financial statements for fictional industry-

specific entities:

Banking,
Insurance,
Investment funds,
Investment property, and
Prive equity.
IFRS Syllabus By KPMG

IFRS Syllabus By KPMG :

The Financial Statements of Credit Institutions.

Conceptual Foundations of Financial Statements.

� The objective of financial reporting;

� The main assumptions;
� Qualitative characteristics of financial reporting;
� Elements of Financial Statements: recognition and measurement;
� Concepts of capital.
IAS 1 �Presentation of Financial Statements�

� Purpose and application of the standard;

� Components of financial statements, including Report on Equity;
� Confidence in reporting and compliance with IFRSs;
� Presentation of Financial Statements.
IAS 7 �Statement of Cash Flows� (CCF)

� Purpose and application of the standard. Concepts;

� The structure of the Cash Flow Statement;
� Classification of business operations with the objective of CFS;
� Types of cash flow statement presentation;
� A direct method for preparation of cash flow statement;
� The indirect method cash flow statement preparation;
� Identification of inflows and outflows of cash and cash equivalents provided by
the bank�s operations.
IAS 8 �Accounting Policies, Changes in Valuation Calculations and Errors�

� Purpose of accounting policies;

� Changes in accounting policies � a retrospective approach;
� Reflection in the financial statements of changes in accounting; estimates
(prospective approach);
� Errors in the financial statements and methods of their correction.
Elements of Financial Statements of Credit Institutions.

IAS 32 and 39 �Financial Instruments�

� The concept of financial instruments

� Identification of financial instruments: financial assets and liabilities
derivatives: recognition and rejection of the recognition
� Classification of financial instruments;
� Valuation of financial instruments: when registering in financial reporting.
� Follow-up evaluation: should we expect a mortized cost?
� Accounting for impairment of financial assets;
� Derecognition of financial instruments;
� Hedging;
� Forward contracts, swaps,futures;
� Non-market interest rates;
� Practical applications for banks and other financial institutions;
� Recommendations to the disclosure.
IFRS 7 �Financial Instruments: Disclosures�

� Accounting Policies;
� Profit and loss account;
� The balance sheet or balance;
� Statement of cash flows;
� Statement of changes inequity;
� Additional disclosures;
� Basic disclosure requirements for financial instruments;
� Disclosure of risk management policy;
� New approaches to disclosure in accordance with IFRS7 �Financial Instruments:
Disclosures�.
IAS 16 �Property�

� The concept;
� Criteria and Evaluation;
� Recognition and initial assessment;
� Follow-up evaluation;
� Depreciation;
� Disposals;
� Disclosure.
IAS 38 �Intangible Assets�

� The concept;
� Recognition and development cost;
� Assessment and reassessment;
� Depreciation;
� Disclosure.
IAS 40 �Investment Property�

� Classification of property;
� The preparation of financial statements and assessment of investment property.
IAS 36 �Impairment of Assets�

� Introduction;
� The procedure fortesting for impairment;
� The causesof impairment;
� Definition of cash-generating unit;
� Calculation of recoverable amount;
� Restoration of impaired assets;
� Disclosure.
IFRS 5 �Non-current Assets Held for Sale and Discontinued Operations�

� The criteria for the classification of non-current assets as held for sale;
� The Group�s assets for retirement;
� Recognition and measurement.
IAS 17 �Leases�

� Types of lease -finance/operating lease;

� Signs and principles of lease classification;
� Reflection of the lease in the financial lessor and lessee;
� Reflection of operating leases in the financial statements of the lessor and
lessee;
� Disclosure
IAS 37 �Provisions, Contingent Liabilities and Contingent Assets�

� Reserves � Definition, Recognition and Measurement;

� Evaluation;
� Creation of reserves (reserves for issued loans, other reserves);
� Contingent liabilities � the definition and recognition;
� Contingent assets � the definition and recognition;
� Disclosure
IAS 12 �Income Taxes�

� Deferred income taxes- a concept:

� Temporary differences: Temporary taxable differences and deductible temporary
differences;
� Recognition of deferred tax assets and liabilities;
� Calculation of the tax base of the asset and liability;
� The calculation of deferred taxes on credit operations;
� Presentation and disclosure of deferred taxes.
IAS 18 �Revenue�

� The conditions for recognizing revenue;

� Recognition of interest income.
IAS 19 �Employee Benefits�

� Identification of fixed payment of pension plans by the employer groups and plans
with defined contribution;
� Recognition and measurement of pension plans, defined contribution and defined
benefit;
� Reflection of pension plans in accounting, financial statements and notes to the
accounts.
IFRS 2 �Share-based payments instruments�

� The concept of payment based on the equity instruments;

� Evaluation of the transaction at fair value;
� The difference between the operations, which offer payments using the shares
settled in cash and equity instruments;
� Disclosure in financial reporting.
Additional Disclosure of Information

IAS 34 �Interim Financial Reporting�

� The scope of IAS 34;

� Definitions and minimum of the interim reporting;
� Information to be included in the notes to the interim financial statements;
� The period to provide the interim financial statements;
� Disclosure of estimates of the interim financial statements in annual reports, if
in the final period of assessment has changed;
� Accounting policies for interim reporting;
� Seasonal income, non-uniform costs and the use of estimates in interim financial
statements.
IFRS 8 �Operating Segments�

� Definitions of industry and geographical segments;

� Primary and secondary format for segment information;
� Financial performance, requiring disclosure in respect of primary segment format;
� Information about the format of the secondary;
� Criteria for selection of segments for presentation in financial statements;
� The accounting policies of the segment.
IAS 33 �Earnings per Share�

� Calculation of earnings per share in accordance with IAS 33;

� Earnings per share in the event of the year preferential issue or stock split;
� Calculation for the placement of shares at a premium and with the release of
rights;
� The calculation of diluted earnings per share and issue convertible debtor
preferred stock;
� Issuance of stock options and warrants on shares;
� Identify the circumstances under which an effect of increasing earnings per
share;
� Conversion of comparative data on earnings per share;
� Additional disclosures about earnings per share.
IAS 10 �Events after the Balance Sheet Date�

� Definition of subsequent events- corrective and non-adjusting (the algorithm to

reflect events after the reporting date);
� Recognition of adjusting events;
� Inclusion in the reporting of non-adjusting events;
� Disclosure of information about events after the reporting date.
IAS 21 �Effects of Changes in Foreign Exchange Rates�

� Identification of the functional currency;

� Assessment at initial recognition of foreign currency transactions;
� Recognition of exchange differences;
� Select the presentation currency;
� How to convert statements into the presentation currency, the current and
historical.
IAS 24 �Disclosure of Information of Related Party�

� The purpose and scope of the standard;

� Key Concepts;
� Criteria for determining related parties;
� The disclosure requirements for related party;
� An example disclosure of information of related party.
The Financial Statements of Associated Companies and Joint Ventures

IFRS 3 �Business Combinations�

� Identification of acquirer;
� Identification of the date of purchase;
� Determining the value of combining;
� Average cost of the combination to the identifiable assets, liabilities and
contingent liabilities;
� Determining the amount of goodwill and minority interest;
� Basic requirements for disclosure.
IAS 27 �Consolidated and Separate Financial Statements�
� Definition of subsidiaries;
� Identification of associates and joint ventures;
� Presentation of the consolidated financial statements;
� The procedure and method of consolidation;
� Reflection of investments in subsidiaries, associates and jointly controlled
entities in the separate financial statements (IAS 28, IAS31);
� Basic requirements for disclosure.