IFRS Advanced

Overview of the IASB's current standards and interpretations

Intangible assets

• Accounting for intangible assets and deferral problems.
• Impairment test and unscheduled amortization of brands and goodwill.
• Practical problems in determining free cash flows and WACC, differences between value in use and net realizable value, pitfalls.

Property, plant and equipment

• Acquisition costs in accordance with IAS 16, disclosure, initial measurement (AK/HK), restoration obligations.
• Component approach, consequences for the balance sheet and scheduled depreciation.
• Leasing regulations in accordance with IFRS 16.

Investment properties

• Delimitation and classification.
• Fair value and cost model.

Revenue recognition

• Systematic presentation of IFRS 15.
• Individual cases of revenue recognition.
• Problem cases, delimitation of contingent receivables.
• Differences to the commercial and tax balance sheet (deferred taxes).

Inventories and construction contracts

• Acquisition and production costs for inventories.
• Differences to the HGB according to the amended IDW opinion.
• Capitalization of overheads, revenue recognition on the sale of goods and products.
• (Customer-specific) contract manufacturing: Revenue recognition in accordance with IFRS 15.

Financial instruments and financial assets

• Measurement categories and their treatment in the income statement.
• Overview of accounting for financial instruments in accordance with IFRS 9 (focus: non-banks).

Disposal of assets and business divisions

• Special rules for balance sheet and income statement disclosure.
• Determination of lowest value/extraordinary depreciation.

Other provisions

• Recognition requirements for provisions, practical problems, current cases.
• Valuation of provisions, new regulations.
• Recognition of changes in provisions in the income statement (cost of sales method, nature of expense method).
• Catalog of provisions: including provisions for litigation risks and damages, provisions for restoration obligations, provisions for onerous contracts, restructuring provisions.

Pension provisions

• Valuation, identification, disclosures.

Deferred taxes and actual taxes

• Concept, disclosure, recognition and calculation of deferred taxes.
• Problem cases with deferred tax assets.

Equity

• Differentiation between equity and debt.
• Preparation of the statement of changes in equity.

Current developments in IFRS