International Financial Reporting Standards (IFRS) Course

Course Overview:

The International Financial Reporting Standards (IFRS) Training Course equalizes participants with key IFRS standards and what they should expect with application in various aspects of financial reporting.

The training course includes core standards such as IFRS 10 Consolidation of Financial Statements, 15 Revenue from Contracts with Customers, and IFRS 1 First-time Adoption of IFRS.

The course encompasses the following subjects: asset and liabilities management, financial instruments, income taxes, mergers and acquisitions, and the use of foreign currencies issues. Moreover, participants will also learn about the structure of financial statements, various issues related to effects of the change of accounting estimates on the financial statements and IFRS transition.

Financial analysts, accountants, auditors, financial reporting analysts and others will find this course greatly beneficial.

Course Objectives:

At the end of this International Financial Reporting Standards (IFRS) Training Course, participants will be able to:

• Understand the IFRS standards with practical explanations and examples.
• Understand how consolidation of financial statements works with the application of IFRS 10.
• Understand the new Revenue standard (IFRS 15).
• Obtain the actual IAS and IFRS standards used in this course to read and go through whilst the lecturer explains the concept

Who Should Attend?

This International Financial Reporting Standards (IFRS) Course ideal for: 

• Financial Analysts
• Accountants
• Portfolio Managers
• Securities Analysts
• Credit / Investment Analysts
• Pension Fund Managers
• Auditors

Course Outlines:

Introduction to IFRSs

• Brief history of IFRSs
• Conceptual Framework

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)
• Related party disclosures (IAS 24)
• Interim financial reporting (IAS 34)
•  value measurement (IFRS 13)

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)
• Share-based payment (IFRS 2)

Financial Instruments

• Financial assets and liabilities, hedging, and derivatives (IAS 32, IAS 39, IFRS 9)
• Financial instrument disclosures (IFRS 7)

Income Taxes

• Income taxes (IAS 12)

Revenue

• Revenue from Contracts with Customers (IFRS 15)

Foreign Currency Issues

• The effects of changes in foreign exchange rates (IAS 21)

Business Combinations, Consolidations, Associates & Joint Arrangements

• Business combinations (IFRS 3)
• Consolidated financial statements (IFRS 10)
• Separate financial statements (IAS 27)
• Investments in associates and joint ventures (IAS 28)
• Joint arrangements (IFRS 11)
• Disclosure of interests in other entities (IFRS 12)

Transitioning to IFRSs

• First-time adoption of IFRS (IFRS 1)

 Expected Future Developments

• ASB Work Plan

see more: Introduction to Bond Markets Qualification (IBMQ) Course