Applying IFRS

This IFRS course demonstrates the key elements of IFRS. It defines the scope of financial reporting and its relevance to stakeholders.

By attending this course, you will understand how implementing IFRS has an impact on all aspects of an organization.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Outline:

Overview of IFRS

• The need for IFRS

• The International Accounting Standards Board (IASB)

• The Conceptual Framework

• Overview of standards

Financial Reporting

• The objectives of financial reporting

• What has to be included in financial statements

• Understanding the treatment of income and costs

• Understanding the treatment of assets and liabilities

IFRS Implementation

• The transition to IFRS

• Financial analysis tools and techniques

• Relevance of corporate governance

• Future IFRS considerations

IFRS Implementation Review

• The first time adoption process as a project

• Gap Analysis – actual outcome v desired outcome

• Adopting changes in standards

Course Review

• Summary and recap of key learning objectives

• Action Planning

Target Audience

This IFRS course is suitable for:

• Financial staff who need an introduction to IFRS.

• Financial staff who wish to develop a greater understanding of the concepts and applications of IFRS.

• Analysts and non-financial staff who need to understand IFRS but are not necessarily practitioners.

Learning Outcomes:

Upon completion of this course, you will understand:

• The key concepts of IFRS and their application.

• How the information included in financial reports informs decision-making.

• How to work through the initial and ongoing implementation of IFRS.

• How to implement an Action Plan at your workplace using the knowledge and skills acquired through the course.