open Programme: ACCOUNTING, FINANCE & FINANCIAL MANAGEMENT

Financial Reporting Standards: IFRS Update

This two-day course provides a detailed update to experienced professionals on the current developments on standards. It is designed to cover Standards with future applicability, Exposure Drafts and the IASB’s future plans, giving participants up-to-the-minute information and providing an ability to foresee how anticipated and published changes may affect their organisations.  It includes coverage of new IFRSs, hands-on case studies, examples, exercises, and benefits from the interactive participation of the attendees

Course Objectives 

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

  • Be up to date on new standards, exposure drafts and pronouncements
  • Confidently review IFRS financial statements
  • Comply with IFRS disclosure requirements, including accounting policies
  • Identify the optional and mandatory requirements certain standards
  • Have a greater understanding of the considerations when deciding which of the optional treatments in IFRS 9 to apply

Who Should Attend

This course is ideal for experienced individuals at all levels within an organization who need to update their knowledge of IFRSs.

Course Outline

IFRS 9 Financial Instruments (replacing IAS 39, effective 2018)

  • Classification and Measurement of Financial Assets (November 2009)
  • Classification and Measurement of Financial Liabilities and Derecognition (October 2010)
  • Hedge Accounting (November 2013)
  • Expected Credit Losses (July 2014)
  • Limited Amendments to the Classification and Measurement Requirements for Financial Assets (July 2014)
  • Discussion Paper: Portfolio Revaluation Approach to Macro Hedging (April 2014)

Revenue Recognition

  • IFRS 15: Revenue from Contracts with Customers (May 2014, effective 2017)

Leases

  • ED/2013/6: Leases

Insurance Contracts

  • ED/2013/7: Insurance Contracts

Overview of other new standards or recent amendments to standards

  • IFRS 14 Regulatory Deferral Accounts (January 2014)
  • Investment Entities (amendments to IFRS 10, IFRS 12 and IAS 27) (October 2012)
  • Annual Improvements 2010-2012 Cycle (December 2013)
  • Annual Improvements 2011-2013 Cycle (December 2013)
  • Other amendments to IAS 19, IAS 36 and IAS 39

Overview of recent IFRS Interpretations Committee pronouncements:

  • IFRIC 21: Levies (May 2013, effective January 2014)

Overview of IASB deliberations on outstanding Exposure Drafts:

  • ED/2014/1: Disclosure Initiative – Amendments to IAS 1 (March 2014)
  • ED/2013/11: Annual Improvements – 2012-2014 Cycle (December 2013)
  • ED/2013/9: IFRS for SMEs - Amendments

Discussion Paper: Conceptual Framework

Update on latest IASB Work Plan

Location, Pricing and Date

Contact Capworth for details. The Capworth Training team will take steps to ensure that in house programmes are run at a time that suits you.

Contact our client liaison team corporate@capworthtraining.com to discuss running this programme in house at your preferred location.


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