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IFRS Foundation publishes free teaching material on accounting for liabilities

 17 June 2015

The IFRS Foundation Education Initiative today published the third part of its comprehensive Framework based IFRS teaching material. This batch is focused on accounting for liabilities.

The free-to-download teaching material is designed to assist those teaching IFRS to progressively develop in their students the ability to make the estimates and judgements that are necessary to apply IFRS and the IFRS for SMEs. This is in line with the IFRS Foundation’s strategic goal of supporting consistent application and implementation of IFRS.
The new material relates primarily to the accounting for liabilities in accordance with IFRS Standards.  It is presented in four parts and aimed at students who are new to financial reporting and students close to qualifying as a Chartered Accountant or Certified Public Accountant. The material covers how to introduce accounting for liabilities; classification of financial instruments with characteristics of equity; accounting for ‘forward’ contracts; and accounting for financial assets and liabilities. The material is accompanied by case studies.

Translations of the material into other languages will follow.

Teacher training programme

To train IFRS teachers in the use of this material, the staff of the IFRS Foundation Education Initiative are arranging a series of Framework-based teaching workshops, usually around international and regional academic accounting association events. In the next few months, workshops are scheduled in China, Colombia, Japan, Poland, Tanzania, South Korea, the United States (at the American Accounting Association annual meeting) and Zimbabwe.


Press enquiries:

Kirstina Reitan, Head of Communications, IFRS Foundation
Telephone: +44 (0) 20 7246 6960

Notes to editors:

  • The teaching material is prepared in separate sections to support the Framework-based IFRS teaching of Chartered Accountant/Certified Public Accountant stream or equivalent students at three stages:
  • Stage 1: a student’s first financial reporting course;
  • Stage 2: a financial reporting course midway to qualifying as a CA, CPA or equivalent; and
  • Stage 3: a course immediately before qualifying as a CA, CPA or equivalent.
  • The IFRS Education Initiative staff are currently developing similar material on the following topics: non-financial liabilities business combinations and consolidations; accounting policies, accounting estimates and errors; the impairment of assets; and general hedge accounting.
  • Further information about the IFRS Foundation’s Education Initiative can be found here []
  • Further information on upcoming train the trainer workshops can be found here
  • All teaching material can be accessed here []
  • To ensure that the Stage 3 material remains effective in developing students’ ability to make judgements when accounting and reporting economic phenomena that are unfamiliar to them, the teaching notes that accompany the case studies for Stage 3 classes are available at the sole discretion of the Education Initiative staff.  The teaching notes are available only to those actively teaching IFRS, and on the condition that they are not distributed to others and are used for IFRS teachers’ own reading purposes only.  Please apply for access to these teaching notes.
  • The materials each contain terms of use that set out how the materials can be used both in print form and electronically.  The teaching notes that accompany the Stage 3 case studies 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.


About the IFRS Foundation, IASB and IFRS

The IFRS Foundation is an independent, not-for-profit organisation, overseen by a Monitoring Board of public authorities. Its vision of a single set of global accounting standards is supported by G20 leaders and other international organisations with responsibility for the global financial system.

The mission of the IFRS Foundation is to develop International Financial Reporting Standards (IFRS Standards) that bring transparency, accountability and efficiency to financial markets around the world, fostering trust, growth and long-term financial stability.  The International Accounting Standards Board (IASB) is the standard-setting body of the IFRS Foundation, made up of independent experts from diverse professional and geographical backgrounds. IFRS is adopted by more than 100 countries globally.

For detailed information on the organisation’s structure, the standard-setting process and the spread of IFRS Standards globally, visit