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IFRS Training and Update


=N= 275, 000.00

Course Overview

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About the Programme

This one-week course provides a detailed review of all significant technical IFRS requirements. It includes coverage of IFRSs, hands-on case studies, examples, exercises, and benefits from the interactive participation of the attendees. This comprehensive workshop helps participants to acquire the tools necessary to understand and apply IFRSs and prepare IFRS financial statements. The course includes the latest pronouncements, and participants are brought up-to-date on all topics. In addition, participants are provided with information to assist them in researching accounting issues and monitoring future changes.

Objectives

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

  • Confidently prepare IFRS financial statements

  • Compute basic and diluted earnings per share

  • Differentiate between changes in estimates and changes in accounting policies

  • Comply with IFRS disclosure requirements, including accounting policies

  • Identify the optional and mandatory requirements for first-time adoption of IFRSs

  • Have a greater understanding of the considerations when deciding which of the optional treatments in FRS 1 to apply

  • Understand the IFRS requirements for recognition and measurement of assets, liabilities, revenues, expenses, gains and losses

  • Explain likely future IFRS changes, including prospects for convergence with major national accounting standards 

Who Should Attend

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This course is ideal for individuals at all levels within an organization who need to have detailed knowledge of IFRSs. In essence, it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions and preparing, reviewing or approving IFRS financial statements. The program is generic and does not focus on any one particular industry.

All participants are expected to have an understanding of basic accounting principles based on any national standards. No advance preparation is required for this course.

Course Outline

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Understanding IFRS

  • Introduction to IFRSs - Brief history; the GAAP hierarchy

  • Content of IFRS Financial Statements

  • Presentation of financial statements

  • Transitioning to IFRS

  • First - time adoption of IFRSs

Fundamental Building Blocks

  • Property, plant and equipment

  • Intagible assets (IAS 38)

  • Investment Property (IAS40)

  • Impairment of assets (IAS 36)

  • Non current assets held for sale (IFRS 5)

  • Statement of cash flows (IAS 7)

  • Inventories (IAS 2)

  • Accounting policies, changes in accounting estimates and errors (IAS 8)

  • Revenue Recognition Issues

  • Revenue (IAS 18, IFRIC 13, 15 and 18)

In - Depth Look at Standards

  • Events after the reporting period (IAS 10)
  • Operating Segments (IFRS 8)
  • Related Party disclosures (IAS 24)
  • Earnings per share (IAS 33)
  • Interim financial reporting (IAS 34 & IFRIC 10)
  • Discontinued Operations (IFRS 5)
  • Construction Contracts (IAS 11 & IFRIC 15)
  • Borrowing Costs (IAS 23)
  • Leases (IAS 17, SIC - 27 & IFRIC 4)
  • Employee Benefits (IAS 19, including the 2011 amendments, and IFRIC 14)
  • Provisions, contingent liabilities and contingent assets
  • Share - based payment (IFRS 2)

Technical & Specialised Standards

  • Financial Instruments
  • Financial assets and liabilities, hedging and derivatives (IAS 32, IAS 39, IFRS 9)
  • Financial Instrument disclosures (IFRS 7)
  • Income Taxes
  • Income Taxes (including expense and deferred taxation) (IAS 12)
  • Construction contracts (IAS 11)
  • Foreign Currency issues
  • The effects of changes in foreign exchange rates (IAS 21)
  • Business Combinations, consolidations, associates & joint ventures
  • Investments in associates (IAS 28 including the 2011 amendments)
  • Review of specialised areas
  • Accounting for government grants and disclosure of government assistance (IAS 20)
  • Accounting and reporting by retirement benefit plans (IAS 26)
  • Financial reporting in hyperinflationary economies (IAS 29)

The Future of IFRS

  • Expected Future Developments
  • Annual improvements to IFRSs
  • Other standards released with mandatory adoption in 2013 including: IFRS 10, Consolidated financial statements, IFRS 11 Joint arrangements, IFRS 12 Disclosure of interests in other entities, IFRS 13 Fair value measurement.
  • Other current exposure drafts
  • Draft Interpretations
  • Discussion Papers
  • Convergence plans with other national GAAP
  • IASB projects and agenda
  • IFRIC projects and agenda

Location, Pricing & Dates

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This course will run for 5 days from the 15th - 19th September 2014 at the Sheraton agos Hotel. A certificate of completion will be granted on successful completion of this course.

Course Fees: =N= 275, 000.

This programme is also available as an in-house programme at the clients preferred location. (Minimum Class size 10) Contact our client liaison team corporate@capworthtraining.com to discuss running this programme in house.

Earlier Event: August 11
Advanced Financial Modelling - London
Later Event: October 13
Effective Management skills - Nigera