Course Overview

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About the Programme
 
International Financial Reporting Standards (IFRSs) are the world’s most widely applied accounting 
 
standards. Over 120 countries now require or permit the use of IFRS. Over 7,000 public companies in 
 
the European Union have complied with IFRS since 2005. Many other countries are either adopting 
 
IFRSs or have decided to converge their national standards with IFRSs.
 
This five-day course provides a rigorous and detailed overview of all major technical IFRS 
 
requirements, and includes illustrative financial statements, case studies, examples, coverage of the 
 
most significant IFRSs, and interactive participation from the delegates. In addition to a review of 
 
current IFRS, course delegates also receive an update on the new standards for 2013 and 2015, as 
 
well as information on likely future pronouncements and the probable impact of their adoption.
 
Course Objectives
 
At the end of the course, participants will be able to 
  • Understand the requirements of the standards to prepare IFRS compliant financial statements.
  • Be conversant with appropriate accounting policies and identification of necessary disclosures
  • Define the process of transitioning to IFRS and identify the first time adoption exemption
  • Explain how the recognition and measurement principles of the IASB’s Framework apply within each accounting standard
  • Understand the use of fair value measurement, identify how fair value is measured and specify where the fair value changes are recognized
  • Differentiate between the requirements of current IFRS, the new standards for 2013 and 2015 and the proposed changes for the future, including prospects for global convergence of major national accounting standards

Who Should Attend

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Financial accountants and controllers working towards preparing consolidated financial statements that comply with international financial reporting standards (IFRS), as all listed companies are required to do or anyone needing guidance on the first-time adoption of IFRS.No prior knowledge of IFRS is presumed

Course Outline

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  • Statement of comprehensive income - presentation and specific disclosures (revenue recognition, earnings per share, segment reporting, discontinued operations, related parties, accounting policies)
  • Statement of cash flows

  • Statement of financial position, including the recognition and measurement of assets (property, plant & equipment, intangible assets, inventories, investment property and the accounting treatment of impairments)

  • Earnings per share measurement and presentation

  • Accounting estimates and errors

  • Provisions/non-financial liabilities (including those for employee benefits) and other liabilities

  • Leases

  • Income taxes

  • Business combinations and consolidated financial statements, including special purpose entities

  • Investments in associates and joint ventures

  • Financial instruments, including the treatment of derivatives & hedge accounting

  • Events after the reporting period

  • Related party disclosures

  • Interim financial reporting

  • First-time adoption of IFRS

  • Update on new standards for 2013 and 2015

Location, Pricing & Dates

All courses are available in-house (your preferred location) but throughout the year, we run selected courses as scheduled programmes. To view scheduled courses, please hover over dates on the calendar below.