Course description
The convergence, globally, of International Financial Reporting Standards (IFRS) is gaining pace at a rapid rate, for the preparation of financial statements. This includes bot large corporates and medium-sized companies. Each year more and more countries are implementing IFRS.
As a result of this acceptance of IFRS, more financial professionals are required to have a working knowledge of not only the fundamentals but also the detailed workings. Further, the IFRS landscape is constantly changing and professionals are required to keep up to date.
This 5-day program will deliver an update to date IFRS reporting requirements covering the standards in a practical, technical and commercial basis, with the inclusion of real-life company challenges and use will be made of excel models to demonstrate many of the commercial concepts (these models will be provided as a take-away for participants).
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This International Financial Reporting Standards (IFRS) Course ideal for:
- Financial Analysts
- Accountants
- Portfolio Managers
- Securities Analysts
- Credit / Investment Analysts
- Pension Fund Managers
- Auditors
Outcome / Qualification etc.
By the end of the International Financial Reporting Standards (IFRS) Course you will:
- Understand the IFRS standards with practical explanations and examples.
- Understand how a consolidation of financial statements works with the application of IFRS 10.
- Understand the new Revenue standard (IFRS 15).
- Obtain the actual IAS and IFRS standards used in this course to read and go through whilst the lecturer explains the concept
Training Course Content
Day 1
Introduction to IFRSs
- Brief history of IFRSs
- Conceptual Framework
Content of IFRS Financial Statements
- Presentation of financial statements (IAS 1)
- Statement of cash flows (IAS 7)
- Accounting policies, changes in accounting estimates and errors (IAS 8)
- Discontinued operations (IFRS 5)
- Events after the reporting period (IAS 10)
- Operating segments (IFRS 8)
- Related party disclosures (IAS 24)
- Interim financial reporting (IAS 34)
- value measurement (IFRS 13)
Day 2
Assets
- Inventories (IAS 2)
- Property, plant & equipment (IAS 16)
- Borrowing costs (IAS 23)
- Intangible assets (IAS 38)
- Investment property (IAS 40)
- Impairment of assets (IAS 36)
Day 3
Liabilities
- Leases (IFRS 16)
- Employee benefits (IAS 19)
- Provisions, contingent liabilities and contingent assets (IAS 37)
- Share-based payment (IFRS 2)
Day 4
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
- Revenue from Contracts with Customers (IFRS 15)
Foreign Currency Issues
- The effects of changes in foreign exchange rates (IAS 21)
Day 5
Business Combinations, Consolidations, Associates & 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)
Transitioning to IFRSs
- First-time adoption of IFRSs (IFRS 1)
Expected Future Developments
- ASB Work Plan
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