Course Schedule

International Financial Reporting Standards (IFRS)

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Code Course Title Venue Date Fees Join Now
FI09 International Financial Reporting Standards (IFRS) Dubai - UAE, 20190421 21 - 25 Apr 2019 $3,750 Register
FI09 International Financial Reporting Standards (IFRS) Istanbul - Turkey, 20190715 15 - 19 Jul 2019 $4,750 Register
FI09 International Financial Reporting Standards (IFRS) Dubai - UAE, 20191103 03 - 07 Nov 2019 $3,750 Register
FI09 International Financial Reporting Standards (IFRS) Paris - France, 20191213 09 - 13 Dec 2019 $4,750 Register

COURSE OVERVIEW

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organisation called the International Accounting Standards Board (IASB). IFRS is followed by, or being adopted by, more than 120 countries. All member states of the EU are required to use IFRS as adopted by the EU for listed companies since 2005. All other major economies have initiated a process to consider convergence or adoption of IFRS.

International Financial Reporting Standards (IFRS) will help build the knowledge needed for success in today’s global business world. Those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. This training course is designed to provide accounting and finance professionals with the training, knowledge and practical guidance needed to use IFRS and stay up-to-date with its standards and changes.

IMPORTANT FEATURES

The important features of the International Financial Reporting Standards (IFRS) training course are:

  • Understanding financial statements
  • Financial reporting
  • Applying IFRS
  • Accounting for current and non-current assets and liabilities
  • Classifying investments
  • Describing updates and amendments
  • Assessing impact on financial accounts

LEARNING OBJECTIVES

  • Describe the setting process in International Financial Reporting Standards (IFRS) and list the currently available standards
  • Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization
  • Determine the correct presentation and minimum disclosure for components of statements of financial position, statements of comprehensive income, statements of owners’ equity and statements of cash flows in accordance with IFRS
  • Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS
  • Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions

TARGET AUDIENCE

  • Professionals in the fields of finance and accounting
  • Accountants involved in the preparation of financial statements
  • Professionals seeking to enhance knowledge from companies implementing IFRS as the standard of reporting

TRAINING METHODOLOGY

The International Financial Reporting Standards (IFRS) training course uses a mix of interactive techniques, such as brief presentations, application of theories and group exercises to exchange experience and apply knowledge acquired throughout the course.

Pre & Post course assessments will be used to measure the effectiveness of this training.

COURSE CONTENTS

DAY 1 –Evolution of International Accounting Standards

  • KeyTopics:
    • International Financial Reporting Standards (IFRS)
    • Introduction, History and Overview of Existing and Future Standards
    • Roles of the Various Accounting Standards Setting Bodies
    • Objectives and Structure of the International Accounting Standards Board (IASB)
    • Framework, Demand and Adoption of IFRS
    • Convergence
    • Introduction and Historical Overview
    • Issues, Benefits and Problems of Convergence
    • IASB/FASB Projects

DAY 2 – Contract Profitability - Pricing

  • KeyTopics:
    • Pricing strategy and tactics
    • Profit planning
    • Cost estimating
    • Cost-based pricing
    • Market-based pricing
    • Value-based pricing
    • Profit objective
    • Market structure
    • Follow-on business
    • Risk
    • Z score
    • Market structure
    • Follow-on business
    • Risk
    • Z score

DAY 3 – Preparation and Presentation of IFRS Financial Statements

  • KeyTopics:
    • Structure and Content of Both General and Specific Elements of Financial Statements
    • IAS 1
    • Balance Sheet
    • Income Statement
    • Presenting Either a Statement of Changes In Equity or a Statement of Recognized Income or Expense (SORIE)
    • Statement of Cash Flow
    • Consolidation Criteria and Requirements
    • Notes to Financial Statements and Related Disclosures
    • Revenue Recognition and Reporting Requirements

DAY 4 - Conversion Preparation to IFRS

  • KeyTopics:
    • Examining Substantive Differences in Disparate Accounting Treatments
    • Inventory
    • Fixed Assets
    • Valuation
    • Revaluation
    • Depreciation
    • Deferred Taxes
    • Contingencies
    • Performing Thorough Assessments
    • Technical Accounting and Tax Implications and Risks
    • Supporting Established Processes and Infrastructure Considerations
    • Adopting Implementation Plans
    • Conversion Issues and Concerns
    • Technical Accounting and Tax Conversion Issues
    • Designing Supporting Processes and Infrastructure Features
    • Developing Revised Organization Plans and Change Strategies
    • Conversion Maintenance
    • Implementing Support Processes and Infrastructure Features
    • Change Management Execution Strategies
    • Conversion Transfers
    • Comparative Analysis of Companies Adopting or Not Adopting IFRS

DAY 5 – Impact of IFRS on Financial Statement Interpretations

  • KeyTopics:
    • International Accounting and Diversity Considerations
    • Financial Analysis Tools and Techniques
    • Common Size Statements
    • Trend Analysis
    • Ratio Analysis
    • Dupont Analysis
    • Z Scores
    • Investment Ratios
    • Cash Flow Ratios
    • Peer Group and Industry Comparisons
    • Importance of Corporate Governance and Awareness of IFRS Best Practices
    • Future IFRS Considerations

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