The 2023 guide to apply IAS 7 in practice

The 2023 guide to apply IAS 7 in practice

IAS/IFRS standards constitute a standardised way of describing the company’s financial performance and position so that company financial statements are understandable and comparable across international boundaries. Additionally, they are particularly relevant for companies with shares or securities listed on a public stock exchange.

The original version of IAS 7 was first issued in 1992, with the International Accounting Standards Board (IASB) adopting the standard in April 2001. Being one of the older standards in the current suite of IFRSs, IAS 7 is shorter and more summarised than new and revised standards, which have been issued more recently by the IASB. Modifications to IAS 7 since it was originally published have been limited, meaning that judgement can be required when interpreting how it should be applied with some new IFRSs (e.g. IFRS 9 Financial Instruments – see Section 10). One of the only significant updates to IAS 7 occurred in January 2016 when the IASB added paragraphs 44A – 44E requiring disclosures relating to the changes in liabilities arising from financing activities .

This course is an application course for accountants or professionals who want to learn in more details about the accounting treatment of IAS 7 Statement of Cash Flows that are increasingly adopting by more organizations around the world. This course provides a clear guide on how to Classify of cash flows arising from Business combinations, how to present statement of Cash flows from discontinued operations, and other issues such as recognize revenue from contract with customers, leases...

After studying this course you will be able to practice the IAS 7 properly whether for studying or pursuing a career for organizations that require using IAS standard as a major accounting policy.

Who this course is for:

• General Accountant, Chief accountants

• Compliance Risk Professionals

• CFO, Finance Head

• Internal Auditors and Internal Controls Professionals

• Risk Management Students, Business and Finance Students, Banking Students.

• Other learners who want to learn about basic concepts of IAS 7 in action

Learn practical applications of IAS 7 in the real world

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What you will learn

• World-class experiences about IAS 7 delivered to you by former PwC Auditor
• Understand Definition of cash and cash equivalents, disclosure requirements for Restricted cash and cash equivalent balances
• Understand How to apply IAS 7 various situations such as: Offsetting cash inflows and outflows in the statement of cash flows

Rating: 0

Level: All Levels

Duration: 1.5 hours

Instructor: Thanh Nguyen CIA, ACCA, LLB,JD