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The "International Accounting Standards (AS)" course on Coursera, offered by Uplatz, is an excellent resource for anyone seeking to deepen their understanding of global accounting principles and practices. This comprehensive course is meticulously designed to cover all essential aspects of Accounting Standards, making it ideal for finance professionals, students, and aspiring Chartered Accountants. Course Overview: This course provides a detailed exploration of the general guidelines and standards that govern financial reporting across different countries. It delves into the core concepts of International Financial Reporting Standards (IFRS) and How they compare and integrate with Generally Accepted Accounting Principles (GAAP) used predominantly in the US. The course emphasizes the importance of uniformity and transparency in financial reporting, highlighting key standards such as revenue recognition, lease classification, depreciation policies, and segment reporting. What You Will Learn: - The fundamentals of accounting standards and their application in real-world scenarios. - An in-depth study of each of the 29 standards, with practical examples and industry case studies to illustrate their application. - Key standards include AS 1 (Disclosure of Accounting Principles), AS 2 (Valuation of Inventories), AS 3 (Cash Flow Statements), AS 9 (Revenue Recognition), AS 11 (Effects of Changes in Foreign Exchange Rates), AS 17 (Segment Reporting), and many more. - How accounting standards influence financial statements, asset valuation, liabilities, revenue, expenses, and shareholders’ equity. - The scope, objectives, and disclosures under each standard, along with the application of recognition, measurement, and reporting principles. Review: The course offers an in-depth and structured curriculum that is suitable for both beginners and those with prior accounting knowledge. The inclusion of practical examples and industry scenarios aids in understanding complex topics, making the learning process engaging and relevant. The detailed coverage of each standard ensures that learners will gain a solid foundation that can be applied practically or utilized for professional certification exams such as CA, CFA, or CS. Recommendation: I highly recommend this course to anyone looking to build a robust understanding of international accounting standards. Whether you're a finance professional aiming to enhance your knowledge, a student preparing for professional exams, or an auditor seeking to align with global standards, this course provides valuable insights and practical skills. The comprehensive syllabus, coupled with expert instruction from Uplatz, makes it a worthwhile investment for your professional development. In summary, if you are serious about mastering international accounting standards and improving your financial reporting skills, this Coursera course is an excellent choice that will equip you with relevant knowledge and practical expertise.
A warm welcome to the International Accounting Standards (AS) course by Uplatz.Accounting Standards (AS) refer to the general guidelines and standards for financial reporting. A company's financial statements can be prepared using Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).An accounting standard is application to a company's financial reporting. A few popular examples of accounting standards are segment reporting, goodwill accounting, an allowable method for depreciation, business combination, lease classification, a measure of outstanding share, and revenue recognition.The Generally Accepted Accounting Principles (GAAP), commonly referred as International Accounting Standards, are the primary accounting standards adopted by the U.S. Securities and Exchange Commission (SEC). GAAPs were designated in the United States and form the basis of accepted accounting standards for preparing and reporting financial statements across the world.The International Accounting Standards Board (IASB) provides rule-based and principle-based accounting guidelines for international companies that are based outside the U.S. The International Accounting Standards (IAS) are intended to achieve the uniformity of approach and identity of meaning. Accounting standards of a specific country are strongly influenced by its governance arrangement and tax policy.In essence, an accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in all countries. In the United States, the Generally Accepted Accounting Principles form the set of accounting standards widely accepted for preparing financial statements. International companies follow the International Financial Reporting Standards, which are set by the International Accounting Standards Board and serve as the guideline for non-U.S. GAAP companies reporting financial statements.Accounting Standards (AS) have the following characteristics, to name a few:An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices.Accounting standards apply to the full breadth of a entity's financial picture, including assets, liabilities, revenue, expenses and shareholders' equity.Banks, investors, and regulatory agencies, count on accounting standards to ensure information about a given entity is relevant and accurate.Accounting standards relate to all aspects of an entity's finances, including assets, liabilities, revenue, expenses and shareholders' equity. Specific examples of an accounting standard include revenue recognition, asset classification, allowable methods for depreciation, what is considered depreciable, lease classifications and outstanding share measurement.This is an in-depth training on Accounting Standards provided by Uplatz. The course starts with a general introduction of AS and proceeds with comprehensive explanation of each Accounting Standard (AS 1 to AS 29) with practical examples and industry scenarios demonstrated for each AS.This Accounting Standards course is absolutely a right course for you if you wish to learn the concepts of Accounting Standards.The Accounting Standards training will help you gain significant edge in the understanding of AS and knowing how to apply them practically for different cases. This will help you become a successful Finance & Tax Consultant, or to prepare for the Chartered Accountant (CA) exams including CA, CFA, CS, and others.Accounting Standards (AS) - Course SyllabusIntroduction of ASApplicability of ASList of AS thorough discussion on all the AS (Applicability, Objectives, Scope, Definitions, Reconciliations, Measurement, Disclosures etc)AS 1 Disclosure of Accounting PrinciplesAS 2 Valuation of InventoriesAS 3 Cash Flow StatementsAS 4 Contingencies and Events Occurring After the Balance Sheet DateAS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting PoliciesAS 6 Depreciation accounting stands withdrawnAS 7 Construction Contracts (Revised 2002)AS 9 Revenue RecognitionAS 10 Property, Plant and EquipmentAS 11 The Effects Of Changes In Foreign Exchange Rates (Revised 2003)AS 12 Accounting for Government GrantsAS 13 Accounting for InvestmentsAS 14 Accounting for AmalgamationsAS 15 Employee Benefits (Revised 2005)AS 16 Borrowing CostsAS 17 Segment ReportingAS 18 Related Party DisclosuresAS 19 LeasesAS 20 Earnings Per ShareAS 21 Consolidated Financial StatementsAS 22 Accounting for taxes on incomeAS 23 Accounting for Investments in Associates in Consolidated Financial StatementsAS 24 Discontinuing OperationsAS 25 Interim Financial ReportingAS 26 Intangible AssetsAS 27 Financial Reporting of Interests in Joint VenturesAS 28 Impairment of AssetsAS 29 Provisions, Contingent Liabilities and Contingent AssetsAS 30, 31, 32 withdrawn