IFRS (International Financial Reporting Standards)

This IFRS (International Financial Reporting Standards) training course will empower you in understanding IFRS by providing practical and detailed knowledge of the key international financial reporting standards (IFRS) and how they are interpreted and applied.

In this course, you will learn to compare the financial statements more accurately as you will have a clear picture of the financial comparisons of the organisations, make reporting standards simple, streamline the Accounting standards, lower the cost of auditing and statutory reporting, raise more capital from foreign markets at a lower rate.

Modules:

Introduction to IFRS

• International Accounting Standards Board (IASB) and IFRS Foundation Relationship

• International Accounting Standards (IAS Standards), and International Financial Reporting Standards (IFRS Standards) that are currently in issue

• Conceptual Framework for Financial Reporting

• The status and practice of IFRS standards around the world

Accounting for Assets under IFRS

• Property, Plant & Equipment

• Inventory

• Intangible Assets

• Investment Property

• Leases

• Borrowing Costs

• Agriculture

• Government Grants and Disclosure of Government Assistance

• Impairment of Assets

Accounting for Revenue Recognition

• Revenue from Contracts with Customers

• Contract Costs

Accounting for Liabilities

• Provisions

• Contingent Liabilities

• Lease Liabilities

• Income Taxes

• Employee Benefits

• Share based payments

Financial Instruments

• Financial Assets, Financial Liabilities & Equity

• Recognition of Financial Instruments

• Fair Value Measurement

• Impairment of Financial Assets

• Hedging and Hedge Accounting

Presentation of Financial Statements

• Presentation of Financial Statements

• Statement of Cash Flows

• Interim Financial Reporting

• Selection of Accounting Policies and Accounting Estimates

• Events after the reporting period

Group Financial Statements

• Business Combination

• Consolidated Financial Statements

• Separate Financial Statements

• Associates & Joint Ventures

• Effects of Changes in Foreign Exchange Rates

Other IFRS Standards

• Related Party Disclosures

• Earnings Per Share

• Exploration and Evaluation of Mineral Resources

• Assets Held for Sale and Discontinued Operations

• First time adoption of IFRS

• IFRS for SME’s