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InBridge Consulting received IFRS IFA certificate

Employees of InBridge Consulting have been trained in International Financial Reporting Standards and have confirmed their knowledge of obtaining the IFRS IFA Certificate (Certificate Number: 269919, Certificate Number: 6/2018/06014, London, United Kingdom)

The preparation and passing of the exam covered the following areas:

1. Principles for the preparation of IFRS financial statements (Conceptual framework, IAS 1, IFRS 13, IAS 21, IAS 29)

Conceptual Foundations of IFRS. Goals of financial reporting. Main and enhancing qualitative characteristics of financial reporting. Elements of the financial statements, their recognition, evaluation and write-off. Estimated fair value. Impact of exchange rate changes. Influence of hyperinflation.

2. Presentation of IFRS Financial Statements (IAS 1, IAS 34)

The composition of the annual financial statements for IFRS. Statement of financial position. Profit and Loss Statement and other comprehensive income. Statement of changes in equity. Notes to the financial statements. Interim financial statements.

3. Accounting for long-term assets (IAS 16, IAS 38, IAS 40, IAS 41, IAS 36, IFRS 6, IFRS 16)

Property, plant and equipment: initial recognition, depreciation, further costs, valuation in the financial statements. Investment property: initial recognition, future expenses, reclassification, valuation in the financial statements. Intangible assets: initial recognition, depreciation, further costs, valuation in the financial statements. Exploration and evaluation of mineral deposits: initial recognition, depreciation, further costs, valuation in financial statements, reclassification. Biological Assets: Initial Recognition, Valuation in Financial Statements. Lease in the financial statements of the lessee and the lessor. Impairment of assets.

4. Accounting for investments in associates and participation in joint activities (IAS 28, IFRS 11)

Investments in Associated Enterprises. Common activity. Method of equity participation.

5. Stock of inventories and non-current assets for sale (IAS 2, IFRS 5)

Inventories: initial recognition, exit formulas, valuation in financial statements. Non-current assets for sale and distribution to owners: initial recognition, valuation in financial statements. Discontinued activities: submission in financial statements.

6. Accounting for financial instruments (IAS 32, IFRS 7, IFRS 9, IFRS 2)

Financial instruments Financial Assets: Initial Recognition, Valuation and Presentation in the Financial Statements. Financial liabilities: initial recognition, measurement and presentation in the financial statements. Equity instruments: initial recognition, measurement and presentation in the financial statements. Impairment of financial assets. Hedging Share-based payment.

7. Accounting for liabilities (IAS 37, IAS 12, IAS 19)

Types of obligations. Estimated Liabilities: Recognition, Valuation and Presentation in the Financial Statements. Contingent assets and contingent liabilities. Current income tax. Deferred income taxes. Types of employee benefits. Current paychecks for employees. Assistance in dismissal. Features of accounting and presentation in the financial statements of information on post-employment benefits.

8. Revenues (IFR 15, IAS 20)

Definition of income. Five-step revenue recognition model. Presentation of income information in the financial statements. Features of recognition and assessment of income in individual cases. Accounting for government subsidies: definitions, types of subsidies and presentation in the financial statements.

9. Statement of Cash Flows (IAS 7)

Money and their equivalents. Classification of the movement of money. Drawing up a report on the movement of money indirectly. Drawing up a report on money flow by direct method

10. Additional Reporting Information (IAS 8, IAS 10, IAS 24, IAS 33, IFRS 8)

Disclosure of fundamental mistakes. Disclosure of changes in accounting policies. Events after the reporting date.