IFRS - Special Accounting Topics 1 CPE

Preparing financial statements under International Financial Reporting Standards (IFRS) may present the need to address special accounting issues. This course covers such topics as when to consolidate another entity into group financial statements, foreign currency translation into a functional currency, adjusting amounts for a hyperinflationary economy, when to capitalize borrowing costs, and how to account for exchanges on non-monetary assets.

Prerequisites

No advanced preparation or prerequisites are required for this course.

Learning Objective

• Explore the accounting rules for when to consolidate another entity in the financial statements per International Financial Reporting Standard (IFRS) 10 - Consolidated Financial Statements.
• Discover how to translate foreign currency into functional currency in accordance with International Accounting Standard (IAS) 21 - The Effects of Changes in Foreign Exchange Rates.
• Recognize how to handle the situation when an entity’s functional currency is in hyperinflation per International Accounting Standard (IAS) 29 - Financial Reporting in Hyperinflationary Economies.
• Explore when to capitalize borrowing costs under International Accounting Standard (IAS) 23 - Borrowing Costs.
• Discover how to account for exchanges of non-monetary assets.

Last updated/reviewed: September 30, 2026