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Accounting bodies all over the world have been attempting to bring uniformity in the preparation and presentation of Financial Statements. In the context of globalization of business it has become a necessity. Efforts have been made to achieve this with the help of International Accounting Standards. However, each country developed country specific accounting standards to be followed in the preparation and presentation of financial statements. As a result the objective of bringing uniformity at international level could not be satisfactorily achieved.

To meet with global requirements, International Financial Reporting Standards (IFRS) have been developed. International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of financial statements. IFRS’s are used in many parts of the world, including the European Union, Hong Kong, Australia, India, Russia, South Africa and Singapore. More than 100 countries currently require or permit the use of, or have a policy of convergence with, IFRS’s.

It has therefore become imperative for all business units, and others concerned, to know and understand the basic issues involved in adopting IFRS to ensure a smooth and seamless changeover.


Who Should Attend?

  • Chief Financial Officers & Finance Directors
  • Analysts
  • Accountants
  • Budget Officers / Forecasting Specialists
  • Fund Managers and Investors
  • Strategic Planners
  • Private Equity and M&A Specialists
  • Investment Bankers
  • Corporate Bankers
  • Auditors
  • Tax Directors

Course Outline

Module-I

  • IFRS – Introduction and Convergence. Why is IFRS important and how the world is converging to IFRS for achieving seamlessness, transparency and comparability in the financial world.
  • Recognition, Measurement & Disclosure in standards IAS 1, 2, 7 & 8, namely, disclosure of accounting policies, inventory, cash flow and Accounting Policies, Changes in Accounting Estimates and Errors
  • Recognition, Measurement & Disclosure in standards IAS 10, 12, 16, 18 & 19, namely Events after the reporting period, Income taxes, Property, Plant & Equipment, Revenue and Employee Benefits

Module-II

  • Recognition, Measurement & Disclosure in standards IAS 20, 21, 23 & 24, namely Government Grants, Effect of Changes in Foreign Exchange, Borrowing Costs & Related Party Disclosures
  • Recognition, Measurement & Disclosure in standards IAS 27, 28, 24, IFRS 8 & IFRS 11, namely Separate Financial Statements, Investment in Associates and Joint Ventures, Interim Financial Reporting, Operating Segments & Joint Arrangements
  • Recognition, Measurement & Disclosure in standards IAS 32 and IFRS 9, namely Financial Instruments

Module-III

  • Recognition, Measurement & Disclosure in standards IFRS 2, 3 & 12, namely Share Based Payments, Business Combinations & Disclosure of Interest in other entities
  • Recognition, Measurement & Disclosure in standards IFRS 10, 13 & 15, namely Consolidated Financial Statements, Fair Value Measurement & Revenue from Contracts with Customers
  • Latest Changes, implementation experience of various countries, post assessment questionnaire and action plan

Please send us a Request for more detailed and updated Course Outline

Can’t find what you’re looking for? All of our courses are fully customisable and our team of instructors can include or exclude any set of modules, or tailor the entire course to facilitate your learning requirements


Course Objectives

The main objective of this course is to learn how to apply the International Financial Reporting Standards and the concepts and principles that underpin these standards. On successful completion of this program, candidates will be able to:

  • Understand and explain the structure of the framework of international accounting.
  • Apply relevant financial reporting standards to key elements of financial reports.
  • Identify and apply disclosure requirements for companies in financial reports and notes.
  • Prepare financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint ventures

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.

Please contact us for details.

 



 

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