Overview

 

International Financial Reporting Standards (IFRSs) are the world’s most widely applied accounting standards. They have been implemented or used by nearly 120 countries worldwide.

This course will enable participants to learn all major technical IFRSs requirements. The course comprises of illustrative financial statements, case studies, coverage of the most significant IFRSs, and interactive participation from the delegates. The participants will also learn new IFRSs requirements related to revenue, leases and financial instruments.

Why this course

 
  • What are the existing and future requirements of IFRSs

  • How IFRSs measurement principles applied

  • What are the ways to get information about IFRSs

  • What is the appropriate time to have fair value measurements

     

What to expect

 
  • Apply the standards of preparing IFRS compliant financial statements, including the assessment of essential accounting policies and other necessary disclosures

  • Define the process of transitioning to IFRSs and identify first time adoption exemptions and exceptions relevant to an organization

  • Identify the application of measurement principles of the IASB’s framework

  • Identify the criteria that allows the use of fair value measurement#

  • Assess the way to measure fair value and elaborate the fair value changes

  • Apply the proposed standards on revenue, leases and financial instruments

What is the course schedule?

 

Day 1 8.30 AM to 4.30 PM

 

  • Overview of Financial Modeling

  • Describe IFRSs

  • Brief history of IFRSs

  • Conceptual framework

  • Fair value measurement (IFRS 13)

  • Overview of Financial Modeling

  • Describe IFRSs

  • Brief history of IFRSs

  • Conceptual framework

  • Fair value measurement (IFRS 13)

Day 2 8.30 AM to 4.30 PM

 

  • Assets

  • Inventories (IAS 2)

  • Property, plant and equipment (IAS 16)

  • Borrowing costs (IAS 23)

  • Intangible assets (IAS 38)

  • Investment property (IAS 40)

  • Impairment of assets (IAS 36)

  • Non-current assets held for sale (IFRS 5)

  • Liabilities

  • Leases (IAS 17, SIC-27, and IFRIC 4)

  • Update on IFRSs 16 Leases

  • Employee benefits (IAS 19)

  • Provisions, contingent liabilities and contingent assets (IAS 37)

  • Share-based payment (IFRS 2)

Day 3 8.30 AM to 4.30 PM

 

  • Financial Instruments 

  • Financial assets and liabilities, hedging and derivatives (IAS 32, IAS 39, IFRS 9)

  • Financial instrument disclosures (IFRS 7)

  • Income Taxes

  • Income taxes (IAS 12)

  • Revenue Recognition

  • Revenue (IAS 18, IFRIC 13 and 18)

  • Construction contracts (IAS 11)

  • Revenue from contracts with customers (IFRS 15)

  • Foreign Currency Issues

  • Effects of changes in foreign exchange rates (IAS 21)

Day 4 8.30 AM to 4.30 PM

 

  • Business Combinations, Consolidations, Associates and Joint Arrangements

  • Business combinations (IFRS 3)

  • Consolidated financial statements (IFRS 10)

  • Separate financial statements (IAS 27)

  • Investments in associates and joint ventures (IAS 28)

  • Joint arrangements (IFRS 11)

  • Disclosure of interests in other entities (IFRS 12)

Day 5 8.30 AM to 4.30 PM

 

  • Review of Specialized Areas 

  • Accounting for government grants and disclosure of government assistance (IAS 20)

  • Accounting and reporting by retirement benefit plans (IAS 26)

  • Financial reporting in hyper inflationary economies (IAS 29)

  • Transitioning to IFRSs

  • First-time adoption of IFRSs (IFRS 1)

  • Expected Future Developments

  • IASB work plan

  • Who should attend?
  • Finance and accounts personnel, company secretaries and others who are responsible for producing and maintaining IFRS-compliant financial statements.

    Professionals working or aspiring to work in the field of auditing, accounting, investment banking, project consultancy, private equity, corporate finance, asset valuation and equity research

  • Participants
  • The course will have a maximum of 14 people who will be selected based on the type of business they are in and their job role to ensure a thorough mix of industries, ideas and experience.

  • Training Style
  • The programme is designed to enhance learning through group and individual cases and exercises. There are a number of opportunities to practice techniques and evaluate skill levels.

    The course will be supported with handouts and post course references and Tutor inputs will be aimed at giving direction and guidance to ensure effective learning, skill enhancement and attitudes to move with the times.

    Contact our training division