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IASB education staff support for those teaching IFRS
The IFRS Foundation Education Initiative’s new ‘flagship’ project aims to contribute to the rigour and consistency in which International Financial Reporting Standards (IFRS) is applied by supporting those that teach IFRS to develop their students’ ability to make the judgements and estimates that are necessary in applying it. The support includes providing IFRS teachers with free to download comprehensive Framework-based IFRS teaching material and facilitating a series of regional workshops to train those interested in the effective use of that material.
1. Introduction
To a large extent, financial reports that are prepared in accordance with IFRS are based on estimates, judgements and models rather than exact depictions.Preparing IFRS compliant financial information requires making those judgements and estimates. It follows too, that auditing, regulating and effectively using such information requires an understanding of the judgements and estimates that were made in preparing it. Education and training supports the development of the IFRS knowledge and skills that are appropriate for the needs of each participant along the financial reporting chain. This article presents the IFRS ...