International Financial Reporting Standards

This International Financial Reporting Standards (IFRS) training course provided delegates with a detailed understanding of International Financial Reporting Standards (IFRS).

Delegates will not only improve their knowledge and understanding but also their accounting skills gaining an ability to account for transactions and prepare financial statements in accordance with the IFRS, thereby ensuring legal compliance and improved corporate governance.

The training course will also present an overview of the IFRS most relevant to your organization, adapting to the needs identified. As a result, delegates will be able to transfer knowledge and skills for the benefit of their organization.

Learning Outcomes

At the end of this training course, you will learn to:

• Follow accounting concepts & policies

• Prepare income statements & statements of financial position in accordance with IFRS

• Prepare & evaluate the cash flow statement

• Account for assets in accordance with IFRS

• Account for strategic alliances & business combinations in accordance with IFRS

Accounting for Cash Flow & Financial Instruments

• The importance of cash flow

• Preparing a statement of cash flows in accordance with IFRS 7.

• Evaluating the cash flow

• What are financial instruments & derivatives?

• IFRS 7 financial instruments: Disclosures

• IFRS 9 financial instruments

Accounting for Assets

• Tangible & intangible assets

• IAS 16: Property, plant and equipment and Depletion, Depreciation & Amortisation (DD&A)

• IAS 36: Impairment of assets

• IFRS 13 fair value measurement

• IAS 38: Intangible assets

• IAS 2 inventories

This TCE training course will highlight:

• The role & scope of IFRS

• The case for IFRS and latest developments

• The major accounting concepts & policies

• The requirements of the most important IFRS relevant to your organization

• The preparation & presentation of financial statements in accordance with IFRS

Who Must Attend

• Corporate Accountants, Financial Controllers, Treasury Officers, Management Accountants

• Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc.

• External, Financial and Internal Auditors

• Government Regulators

• Financial and Investment Analysts

Outline

The Role & Scope of IFRS

• Establishing the case for IFRS

• International accounting diversity

• IFRS & US GAAP

• The role & scope of IFRS & IAS

• The IASB conceptual framework

• IFRS, accounting concepts & policies

The Presentation & Preparation of Financial Statements

• The annual reports & financial statements

• IAS 1 presentation of financial statements

• Preparing the income statement

• Preparing the statement of financial position

• IAS & statement of cashflow

• Notes & disclosures

Accounting for Strategic Alliances & Business Combinations 

• Strategic alliances mergers & acquisitions

• Goodwill

• IFRS 3 business combinations

• IFRS 10: Consolidated financial statements

• IFRS 11: Joint arrangements

• IFRS 12: Disclosure of interests on other entities