IFRS and FRS

Introduction

Both IFRS and FRS are principle-based Accounting Standards. Keeping up to date with the generally accepted accounting practices of these principle-based Standards under a dynamic business environments and rapid changes to the principles of the Standards is a daunting task for every accountant.

This course attempts to make the task easier by giving a comprehensive analysis of the principles and most important of all, how these principles are being interpreted in light of contemporary practices.

Programme Objective

The course gives a comprehensive review of IFRS and FRS. It is designed for busy professionals who need a refresher course on the principles of the Standards as well as an update on current accounting developments.

The course uses practical scenarios to address the complex issues of interpreting the principles of the Standards. It highlights areas where practitioners of Standards may come to different interpretations and how these differences may be overcome based on past experiences and the use of professional judgement in applying the Conceptual Framework. 

Benefits of attending

• To serve as a refresher course for accountants
• To provide a detailed analysis of selected Standards from the perspective of preparer
• To focus on practical interpretations of the standards and controversial practical issues 
• To highlight what is regarded as generally accepted accounting practice
• To provide hands-on practice on certain difficult accounting issues
• Latest technical update at the date of the course

To explain how Accounting Standards influence management practices and audit procedures as well as their impact on the financial performance, financial positions and cash flows information.