GOA INSTITUTE OF MANAGEMENT

Sanquelim Campus, Poriem, Sattari, Goa

Course : IFRS
Program : PGDM (BIFS) Term :V
No of Sessions : 20 Academic Year : 2021-22
Course Instructor(s): Dr. Abhishek Ranga No of Credits : 2.5
email: abhishek@gim.ac.in
SECTION A

1. COURSE DESCRIPTION
IFRS is a course designed to help students gain a better understanding of financial reporting and
footnote disclosure, which were previously covered in Financial Reporting in term 1.
This course examines current practices in corporate financial reporting and familiarizes
participants with the reporting environment established by the Indian Accounting Standards and
the Companies Act 2013.
This course covers the new Indian Accounting Standards (Ind AS), as well as the financial
statement preparation and disclosure requirements outlined in the Companies Act 2013. The
primary focus is on developing a set of powerful analytical tools to understand the environment
in which financial reporting decisions are made, what options are available, how financial
information is used for various types of decisions, and how to avoid misusing financial
information.

2. COURSE LEARNING OUTOMES

CLO-1: To gain the prowess to comprehend the criteria for recognition specified in Indian
Accounting Standards
CLO-2: To gain the prowess to recognize the measurement requirements specified in Indian
Accounting Standards
CLO-3: To gain the prowess to recognize disclosure requirements specified in Indian Accounting
Standards

3. COURSE CONTENT
1. Ind AS 2: Inventories
2. Ind AS 16: Property, Plant and Equipment
3. Ind AS 23: Borrowing Cost
4. Ind AS 36: Impairment of Assets
5. Ind AS 38: Intangible Assets
6. Ind AS 40: Investment Property
7. Ind AS 105: Non-current Assets Held for Sale and Discontinued Operations
8. Ind AS 113: Fair Value Measurement

1
 SECTION B

4. EVALUATION COMPONENTS
S.No. Component Weightage Coverage
1 Quiz-1 15% Ind AS - 2
2 Mid-Term Exam 30% Ind AS - 2, 16, 40, 105
3 Quiz-2 15% Ind AS – 23, 38
4 End-Term Exam 40% Entire course
5. READING MATERIAL
S.No. Ind AS Ind AS Document
https://mca.gov.in/Ministry/
1 Ind AS 2: Inventories
pdf/IndAS2_2019.pdf
Ind AS 16: Property, Plant and https://mca.gov.in/Ministry/
2
Equipment pdf/INDAS16.pdf
https://mca.gov.in/Ministry/
3 Ind AS 38: Intangible Assets
pdf/IndAS38_2019.pdf
https://www.mca.gov.in/Mi
4 Ind AS 36: Impairment of Assets
nistry/pdf/Ind_AS36.pdf
https://www.mca.gov.in/Mi
5 Ind AS 23: Borrowing Cost
nistry/pdf/Ind_AS23.pdf
Ind AS 105: Non-current Assets
6 Held for Sale and Discontinued https://mca.gov.in/Ministry/
Operations pdf/INDAS105.pdf
https://mca.gov.in/Ministry/
7 Ind AS 40: Investment Property
pdf/INDAS40.pdf
Ind AS 113: Fair value https://mca.gov.in/Ministry/
8
measurement pdf/INDAS113.pdf
6. SESSION PLAN
Session No.
4
After session no. 11
17
After session no. 20
ICAI Reading Material
https://resource.cdn.icai.org/
62148bos50429-cp7-u1.pdf
https://resource.cdn.icai.org/
62149bos50429-cp7-u2.pdf
https://resource.cdn.icai.org/
62153bos50429-cp7-u6.pdf
https://resource.cdn.icai.org/
62152bos50429-cp7-u5.pdf
https://resource.cdn.icai.org/
62151bos50429-cp7-u4.pdf
https://resource.cdn.icai.org/
62155bos50429-cp7-u8.pdf
https://resource.cdn.icai.org/
62154bos50429-cp7-u7.pdf
https://resource.cdn.icai.org/
62144bos50429-cp4-u3.pdf

SESSION NO TOPIC
1 Ind AS 2
2 Ind AS 2
3 Ind AS 2
4 Quiz-1 (15 minutes), Ind AS 16
5 Ind AS 16
6 Ind AS 16
7 Ind AS 16
8 Ind AS 40
9 Ind AS 40
10 Ind AS 105
11 Ind AS 105
Midterm Exam
12 Ind AS 23
13 Ind AS 23
14 Ind AS 38

2
15 Ind AS 38
16 Ind AS 38
17 Quiz-2 (15 minutes), Ind AS 36
18 Ind AS 36
19 Ind AS 36, Ind AS 113
20 Ind AS 113