Course description
International Financial Reporting Standards (IFRSs) are the world’s most widely applied accounting standards. More than 150 countries now require or permit the use of IFRSs.
This five-day course provides a rigorous and detailed overview of all major technical IFRS requirements, and includes illustrative financial statements, case studies, examples, and interactive participation from the delegates.
This program answers questions such as:
- How should IFRS recognition and measurement requirements be applied in practice?
- What are the disclosure requirements of IFRSs and how can preparers ensure that they meet users’ needs?
Upcoming start dates
Suitability - Who should attend?
- Accountants in finance and reporting teams that prepare IFRS financialstatements
- External and internal auditors
- Financial and credit analysts who review financial statements.
Outcome / Qualification etc.
- Apply the requirements of IFRSs to prepare compliant financial statements, including determining accounting policies and drafting requireddisclosures
- Apply IFRS fair value measurement and impairment testingrequirements
- Learn how to recognise and measure liabilitiesin accordance with relevant IFRSs
- Implement the standards dealing with business combinations and the treatment of interests in other entitiesincluding associates and jointventures
- Develop methods of presenting information clearly in IFRS financial statements
Training Course Content
Introduction to IFRSs
- IFRS standard setting – the bodies and due process
- Conceptual Framework
- Fair value measurement (IFRS 13)
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)
- Interim financial reporting (IAS 34)
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)
Liabilities
- Leases (IFRS 16)
- Employee benefits (IAS 19)
- Provisions, contingent liabilities and contingent assets (IAS 37)
Financial Instruments
- Presentation (IAS 32)
- Recognition and Measurement (IFRS 9)
- Disclosures (IFRS 7)
Income Taxes
- Income taxes (IAS 12)
Revenue
- Revenue from contracts with customers (IFRS 15)
Government Grants and Assistance
- Accounting for government grants & disclosure of government assistance (IAS 20)
Foreign Currency Issues
- Effects of changes in foreign exchange rates (IAS 21)
Business Combinations and Interests in Other Entities
- Business combinations (IFRS 3)
- Consolidated financial statements (IFRS 10)
- Investments in associates and joint ventures (IAS 28)
- Joint arrangements (IFRS 11)
Course delivery details
- Group live instruction and illustrative examples
- Description and explanation of IFRS technical requirements in clear and simple language
- Use of case studies and real-world examples to illustrate practical application of theStandards
- Interactive participation is encouraged
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At VantagePoint, we have a policy to avoid unnecessary printing. All course materials will be provided in soft copy. The only printed materials will be those necessary for exercises in class.
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