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Understanding functional and technical aspects of International Financial Reporting Standards for Compensation Professionals (T7) IAS 19 Purpose and Scope
The following will be asked from you in the exam:
- Calculating the liability of a defined contribution plan
- Discounted cash flow techniques. Issues to be addressed, such as what is the appropriate discount rate
- Accounting treatment of a defined contribution plan
- Methods of calculation including the reliance on actuarial and financial assumptions
- Practical examples of treatment
- Calculating the liability of a defined benefit plan
- IAS 19 Features of a defined benefit plan
- IAS 19 Features of a defined benefit plan
- IAS 19 Types of Post Employment Benefit Plans
Understanding functional and technical aspects of International Financial Reporting Standards for Compensation Professionals (T7) Objectives of Financial Reporting
The following will be asked from you in the exam:
- Providing information to the stakeholders of the organization
- Who are the stakeholders?
- Relationship between the conceptual framework and stakeholders
- Objectives of Financial Reporting
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How much International Financial Reporting Standards for Compensation Professionals (T7)Exam Cost
The price of the WorldatWork International Financial Reporting Standards for Compensation Professionals (T7) exam is $250 USD.
WorldatWork T7 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Conceptual Framework for Financial Reporting | - Relationship of conceptual framework to stakeholders - Qualitative characteristics of useful financial information |
| Topic 2: IAS 19 – Employee Benefits | - Termination benefits and measurement considerations - Short-term employee benefits - Post-employment and long-term benefits |
| Topic 3: Accrual Accounting and Financial Statements | - Principles of accrual accounting - Purpose and elements of financial statements |
| Topic 4: IFRS and IASB Fundamentals | - Objectives and structure of International Financial Reporting Standards - Role and mission of the International Accounting Standards Board (IASB) |
| Topic 5: IFRS Application to Compensation Practices | - Impact of IFRS on compensation and benefits reporting |
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