International Finance Reporting Standards (IFRS)

The IASB’s standard, IFRS 15 is mandatory for periods beginning on or after 1 January 2018 with early application permitted.

Objective:

• Learn the scope of the new revenue recognition standard Apply the five steps to recognise revenue
• Understand the required changes to measurement of revenue Plan how to implement the transition
• Identify new presentation and disclosure requirements
• Comply with the new accounting and disclosure requirements for leases
• Analyse contracts to determine whether they contain leases
• Apply the rules for initial and subsequent measurement by lessors and lessees
• Plan for the implications of the new accounting standards for leases – what it means for you
• Understand how IFRS 9 is developed and implemented in practice
• Identify practical implementation issues together with solutions
• See how the standard can be implemented in practice in a simplified and effective manner.
• Better understanding of hedge accounting requirements