International Financial Reporting Standards (IFRS)

This course offers a broad introduction to International Financial Reporting Standards (IFRS). The course begins by tracing the history of the International Accounting Standards Board (IASB) from its early roots to the most recent changes and provides updates on future developments.

In addition, this course underlines key information, provides useful summaries, and examines specific standards topic-by-topic.

It includes case studies that are based on real-life examples, exercises, multiple-choice questions, and sample answers for you to test your knowledge as you progress through the course.

Course Methodology

This preparation course uses a mix of interactive techniques such as brief presentations by the consultant, application of theories, group exercises, case studies, and discussions.

Course Objectives

By the end of the course, participants will be able to:

• Describe how IFRS is used around the world

• Explain how the IASB works and how standards are developed

• Examine the fundamental requirements of IFRS on a standard-by-standard basis

• Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS

• Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions

• Guide their staff and department on how to use IFRS in practice

Target Audience

If you are a professional accountant or auditor seeking to enhance your international accounting knowledge then this is the qualification for you. You do not need to have any experience or formal qualifications in accounting and auditing to apply for this course.

Target Competencies

• Understanding financial statement accounts

• Financial reporting for account balances and transactions

• Applying IFRS

• Describing updates and amendments

• Accounting for assets

• Accounting for liabilities