We've recently launched a new course from Wayne Bartlett, IFRS: The Structure of Financial Statements. Wayne specialises in public sector financial management and budgeting and has worked as a consultant and lecturer throughout the world. He previously worked with Nelson Croom to help create the IPSAS Academy.
This new course is the first in an eight-part IFRS series from Wayne. This introductory course will give learners a comprehensive grounding to the structure of financial statements if you are engaging with IFRS for the first time. Without a comprehensive understanding of this essential background it will be impossible to fit all other IFRSs into a bigger picture. The elements covered in this course form part of a comprehensive package enabling stakeholders to understand the financial position and performance of an entity.
But why is this course important? The aim of IFRSs is to develop, in the public interest, a single set of high quality, global purpose financial statements. Whilst in many cases several options may be available the aim is to limit the possibilities to certain agreed approaches and to encourage consistency so that the users of financial statements can compare and contrast the performance of the entity. IFRS: The Structure of Financial Statements explains the design of financial statements within IFRS and considers their key components, as well as what each statement is trying to achieve. The topics discussed here form the core framework which all of the IFRSs fit within in one way or another.
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