F2 overview - section B

In this lesson

1. 0:00 Financial Reporting Standards overview
2. 1:23 IFRS 15 revenue recognition five steps
3. 2:19 IFRS 16 lessor accounting explained
4. 3:07 Provisions and contingent liabilities
5. 4:18 IFRS 9 financial instruments introduction
6. 6:35 IAS 38 intangible assets and R&D
7. 7:01 IAS 12 deferred tax explained
8. 9:16 Financial instruments and IFRS 9 focus
9. 12:30 Classifying financial assets by type
10. 14:51 Financial asset classification worked example

About this lesson

The video covers revenue recognition (IFRS 15), lessor accounting (IFRS 16), provisions (IAS 37), financial instruments (IFRS 9), intangibles (IAS 38), deferred tax (IAS 12), and disclosure standards including earnings per share and related party transactions. You'll understand what each standard requires and where to focus your revision efforts. The bulk of this lesson zooms into IFRS 9 and financial assets, since it's a substantial topic that often features heavily in exams. You'll learn the fundamental definition of a financial instrument as a contract creating a financial asset for one party and a financial liability or equity instrument for another. The video walks through the two main classifications of financial assets: amortised cost (loan-like investments with a maturity date) and fair value (investments without a maturity date, split further into fair value through profit and loss for short-term holdings, and fair value through other comprehensive income for long-term holdings). A worked example shows how to classify both shares and bonds correctly, helping you apply these distinctions in practice. This overview gives you a roadmap of section B's content so you know where to concentrate your study time. Whether you're starting fresh or revising, understanding these classification principles is essential because they form the foundation for everything else in IFRS 9. The VIVA tuition site has detailed recordings on each standard if you need to go deeper into any area.

Duration: 17m