International Financial Reporting Standards Assessment


International Financial Reporting Standards Assessment

Skills Assessment

International Financial Reporting Standards are used to make companies and the accounting profession shift to communicate in the same accounting language between the countries of the world. This IFRS test is designed to access a user's knowledge of IFRS along with how to apply the standards in an accounting environment. The assessment presents questions that focus on a variety of topics including the first-time adoption of IFRS, IFRS roles and framework, asset and liability recognition, revenue and expense recognition, consolidation and business combination, and financial statement presentation. This assessment is appropriate for test takers that have worked with the IFRS for more than a year and have a strong understanding of the International Accounting Standards (IAS).

General Accounting and Advanced Accounting are also available.


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How does it work?
Total Questions 36
Question Types Multiple Choice
Competencies Tested IFRS Role and Framework
First-Time Adoption of IFRS
IFRS Revenue and Expense Recognition
IFRS Asset and Liability Recognition
IFRS Financial Statement Presentation
Tasks Tested Business Combinations Guidance
IFRS Adoption
IFRS Standard Setter
Possible IFRS Changes
Difference in GAAP and IFRS
IFRS Purpose
Complete Set of Financial Statements
Recognition of Assets
First-Time Adopter Restatements
IFRS Challenges
Grant Date and Graded Vesting
Revenue Recognition for Service Transactions
Share-Based Payment Guide
Revenue Recognition
Employee Benefit Guidance
Construction Contracts
Property, Plant and Equipment under IFRS
Impairment of Long-Lived Assets
Assets Held for Resale
Agricultural Assets
Recognizing a Provision
IAS 39 and IFRS 9
Intangible Assets
Inventory Methods in IFRS
Classification of Awards
Uncertain Tax Positions
Borrowing Costs
Investment Properties
Retrospective Application of IFRS Exceptions
Elements of Financials
Related Party Disclosures
Hyper-Inflationary Economies
Financial Statement Presentation Under IFRS