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International Financial Reporting Standards (IFRS)Bottom of Form
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Course Duration
5 Days
Course Details
In today’s globalized business environment, International Financial Reporting Standards (IFRS) play a crucial role in ensuring transparency, consistency, and comparability of financial statements across different countries. This five-day intensive course provides participants with a comprehensive understanding of IFRS, its principles, and its impact on financial reporting and decision-making. Covering key accounting standards, recent updates, and practical applications, this course is designed to equip professionals with the knowledge and skills needed to apply IFRS effectively in their organizations.
Through interactive sessions, case studies, and real-world examples, participants will explore IFRS concepts related to revenue recognition, financial instruments, leases, and consolidated financial statements. The course will also address the challenges of transitioning to IFRS and complying with evolving global financial reporting requirements. By the end of the program, attendees will have a solid foundation in IFRS, enabling them to enhance financial reporting accuracy, improve regulatory compliance, and support strategic financial decision-making in an international business context.
By the end of this five-day course, participants will be able to:
- Understand the Fundamentals of IFRS– Gain a clear understanding of the principles, structure, and objectives of IFRS and its role in global financial reporting.
- Apply Key IFRS Standards– Learn how to apply IFRS standards related to revenue recognition, financial instruments, leases, property, plant and equipment, and other critical areas.
- Enhance Financial Reporting Accuracy– Improve the preparation, presentation, and interpretation of financial statements in compliance with IFRS guidelines.
- Analyze IFRS vs. Local GAAP Differences– Understand the differences between IFRS and local accounting standards (e.g., US GAAP) and their impact on financial reporting.
- Navigate IFRS Updates and Changes– Stay informed on recent IFRS amendments and emerging trends in international accounting standards.
- Improve Consolidation and Group Financial Statements– Apply IFRS principles to prepare consolidated financial statements, including business combinations and joint ventures.
- Assess the Impact of IFRS on Business Decision-Making– Learn how IFRS compliance affects corporate strategy, financial planning, and stakeholder communication.
- Ensure Regulatory Compliance– Develop a thorough understanding of IFRS reporting requirements to meet global regulatory expectations.
- Identify and Address IFRS Implementation Challenges– Recognize common challenges in adopting IFRS and explore best practices for a smooth transition.
- Develop Practical IFRS Application Skills– Gain hands-on experience through case studies and real-world financial reporting scenarios.
This course equips professionals with practical IFRS knowledge and technical expertise, enabling them to strengthen financial transparency, enhance decision-making, and ensure global compliance in their organizations.
By the end of this five-day course, participants will be able to:
- Understand the Fundamentals of IFRS– Gain a clear understanding of the principles, structure, and objectives of IFRS and its role in global financial reporting.
- Apply Key IFRS Standards– Learn how to apply IFRS standards related to revenue recognition, financial instruments, leases, property, plant and equipment, and other critical areas.
- Enhance Financial Reporting Accuracy– Improve the preparation, presentation, and interpretation of financial statements in compliance with IFRS guidelines.
- Analyze IFRS vs. Local GAAP Differences– Understand the differences between IFRS and local accounting standards (e.g., US GAAP) and their impact on financial reporting.
- Navigate IFRS Updates and Changes– Stay informed on recent IFRS amendments and emerging trends in international accounting standards.
- Improve Consolidation and Group Financial Statements– Apply IFRS principles to prepare consolidated financial statements, including business combinations and joint ventures.
- Assess the Impact of IFRS on Business Decision-Making– Learn how IFRS compliance affects corporate strategy, financial planning, and stakeholder communication.
- Ensure Regulatory Compliance– Develop a thorough understanding of IFRS reporting requirements to meet global regulatory expectations.
- Identify and Address IFRS Implementation Challenges– Recognize common challenges in adopting IFRS and explore best practices for a smooth transition.
- Develop Practical IFRS Application Skills– Gain hands-on experience through case studies and real-world financial reporting scenarios.
This course equips professionals with practical IFRS knowledge and technical expertise, enabling them to strengthen financial transparency, enhance decision-making, and ensure global compliance in their organizations.
Course Outline
5 days Course
Introduction to IFRS and Financial Statement Presentation
- Overview of IFRS: Purpose, principles, and global adoption
- IFRS vs. Local GAAP (e.g., US GAAP) – Key differences
- The IFRS Framework: Objectives, qualitative characteristics, and elements of financial statements
- Presentation of financial statements (IAS 1) – Key requirements and disclosure principles
- Case study: Analyzing IFRS-compliant financial statements
Recognition and Measurement of Key Financial Elements
- Property, Plant, and Equipment (IAS 16) – Recognition, depreciation, and impairment
- Intangible Assets (IAS 38) – Goodwill, research & development costs
- Leases (IFRS 16) – Accounting for lessees and lessors
- Revenue Recognition (IFRS 15) – The five-step revenue model
- Case study: Practical application of IFRS 15 in different industries
Financial Instruments and Consolidation Standards
- Financial Instruments (IFRS 9) – Classification, measurement, and impairment of financial assets
- Fair Value Measurement (IFRS 13) – Definition and valuation techniques
- Business Combinations (IFRS 3) – Recognition of goodwill and acquisition accounting
- Consolidation of Financial Statements (IFRS 10) – Control, subsidiaries, and non-controlling interest
- Joint Arrangements (IFRS 11) – Joint operations vs. joint ventures
- Case study: Preparing consolidated financial statements
Employee Benefits, Provisions, and Taxation
- Employee Benefits (IAS 19) – Pension plans and post-employment benefits
- Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
- Income Taxes (IAS 12) – Deferred tax recognition and measurement
- Share-Based Payments (IFRS 2) – Accounting for stock options and performance shares
- Case study: IFRS applications in corporate financial planning
IFRS Updates, Disclosure Requirements, and Practical Challenges
- Recent updates and amendments to IFRS standards
- Disclosure requirements and financial reporting best practices
- IFRS implementation challenges and transition strategies
- The role of IFRS in ESG (Environmental, Social, and Governance) reporting
- Course wrap-up: Group discussions, Q&A session, and certificate distribution
This five-day program provides a comprehensive and practical approach to understanding and applying IFRS, helping participants ensure compliance, improve financial transparency, and make informed business decisions in an international context.
