By the end of the programme participants will:
- Define the process of transitioning to IFRS and identify the first time adoption exemption and exceptions relevant to an organization
- Explain how the recognition and measurement principles of the IASB’s Framework apply within each accounting standard
- Apply the requirements of the standards to prepare IFRS compliant financial statements, including the determination of appropriate accounting policies and identification of necessary disclosures
- List the standards that require or permit the use of fair value measurement, identify how fair value is measured and specify where the fair value changes are recognized
- Understand the key differences between IFRS and local accounting standards (such as US GAAP) and how to address those differences during reporting.
- Gain practical experience in applying IFRS to real-world financial scenarios, ensuring accurate financial reporting and compliance with international standards.
DAY 1
Introduction to IFRS and Financial Statement Presentation
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- Introduction to IFRS and Conceptual Framework
- Fair Value Measurement (IFRS 13)
- Financial Statement Presentation (IAS 1)
- Including the 2011 amendments
- Statement of Cash Flows (IAS 7)
- Accounting Policies, Changes in Accounting Estimates, and Errors (IAS 8)
- Events After the Reporting Period (IAS 10)
DAY 2
Financial Statements, Revenue Recognition, and Assets
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- Continuation of Financial Statement Presentation (IAS 1)
- Related Party Disclosures (IAS 24)
- Earnings per Share (IAS 33)
- Operating Segments (IFRS 8)
- Discontinued Operations (IFRS 5)
- Revenue Recognition
- Revenue Standards (IAS 18, IAS 11, IFRIC 13, 15, and 18)
- Assets
- Inventories (IAS 2)
- Property, Plant, and Equipment (IAS 16)
- Borrowing Costs (IAS 23)
- Investment Property (IAS 40)
- Intangible Assets (IAS 38)
- Impairment of Assets (IAS 36)
DAY 3
Liabilities, Leases, and Financial Instruments
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- Liabilities
- Employee Benefits (IAS 19) (including the 2011 amendments)
- Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
- Share-Based Payment (IFRS 2)
- Leases
- Lease Accounting (IAS 17, IFRIC 4, and SIC 15)
- Financial Instruments
- Financial Assets and Liabilities (IAS 39 and IAS 32)
- Financial Instrument Disclosures (IFRS 7)
- Replacement of IAS 39 with IFRS 9
DAY 4
Business Combinations, Consolidation, and Taxation
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- Business Combinations and Consolidated Financial Statements
- Business Combinations (IFRS 3)
- Consolidated Financial Statements (IFRS 10)
- Investments in Associates and Joint Ventures (IAS 28)
- Joint Arrangements (IFRS 11)
- Disclosure of Interests in Other Entities (IFRS 12)
- Foreign Exchange Transactions
- Effects of Changes in Foreign Exchange Rates (IAS 21)
- Income Taxes
- Income Tax Accounting (IAS 12)
DAY 5
Interim Reporting, IFRS Transition, and Future Developments
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- Interim Financial Reporting (IAS 34)
- Transitioning to IFRS
- First-Time Adoption of IFRS (IFRS 1)
- Future IFRS Developments
- Update on the IASB-FASB Convergence Project
- Current Exposure Drafts
- IASB Work Plan
