Global Standards for the world economy

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IFRS Foundation publishes free teaching material

 30 January 2013

The IFRS Foundation today published the first part of its Education Initiative’s comprehensive Framework-based IFRS teaching material.

The free-to-download teaching material is designed to assist IFRS teachers to educate IFRS learners more effectively.  In particular, the material is designed to support those teaching IFRS, so that they can progressively develop in their students the ability to make the estimates and judgements that are necessary to apply IFRS and the IFRS for SMEs. The Framework-based teaching approach should also better prepare students to update their IFRS knowledge and competencies continuously in the context of life-long learning.

The material is prepared in separate sections to support the Framework based IFRS teaching of CA/CPA stream students at three stages:

  1. Stage 1: a student’s first financial reporting course;
  2. Stage 2: a financial reporting course mid way to qualifying as a CA or CPA; and
  3. Stage 3: a course immediately before qualifying as a CA or CPA.

The stages are necessarily broad in definition to take into account the many different approaches to qualifying as an accountant worldwide.

The material published today covers non-financial assets with a particular focus at Stage 1 on property, plant and equipment.

Framework-based teaching at Stage 3 should focus on enhancing the students’ ability to make the estimates and other judgements that are necessary when accounting for economic phenomena (transactions, conditions and events) in accordance with IFRS. To do so effectively, a teacher could explore, in class discussion, estimates and other judgements about the accounting and reporting of economic phenomena that are unfamiliar to the students.

Consequently, to ensure that the material has not been seen by future students, the teaching notes that accompany the case studies for Stage 3 classes are available at the sole discretion of the Education Initiative staff and only to those actively teaching IFRS on the condition that those teaching notes are not distributed to others and are used for your own reading purposes only.  *Please apply for access to these teaching notes.

Please note: The materials each contain terms of use that set out how the materials can be used both in print form and electronically except for the teaching notes that accompany the Stage 3 case studies which cannot be distributed for the reasons given above.  For the avoidance of doubt, these teaching materials cannot be used in or as a commercial product. 

The material can be accessed from here.

Property, plant and equipment and other non-financial assets
       Introduction to a Framework-based teaching approach to accounting for       
       property, plant and equipment and non-financial assets
      Stage 1–Property, plant and equipment [PDF] 
      Stage 2–Property, plant and equipment with other non-financial assets [PDF]
      Stage 3–Non-financial assets [PDF]
      Stage 3–The Open Safari case study [PDF]
    * Stage 3–Teaching notes that accompany the Open Safari case study [PDF]

The education staff are now working on similar material on the following topics: liabilities, business combinations and consolidations. Other topics will follow. The next batch of material is tentatively scheduled for posting on the IASB’s website in the second half of 2013.

Teacher training programme

To train IFRS teachers in the use of this material, the staff of the Education Initiative is arranging a series of Framework-based teaching workshops usually around international and regional academic accounting association events.  In the next few months, regional workshops are scheduled in Brazil (at the BNDES), France (at the EAA Congress), Germany (at the IAAER-AS-VHB conference), South Africa (at the SAAA conference), the United Kingdom (at the IASB’s offices) and the United States (at the AAA meeting).  Discussions are progressing for similar regional workshops to be held in other parts of the world later in 2013.

Press enquiries:

Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495

Mark Byatt, Director of Communications and External Affairs, IFRS Foundation
Telephone: +44 (0)20 7246 6472<