PROGRAM DETAILS

Introduction

The IFRS are a set of accounting standards followed by, or being adopted by, more than 120 countries. All member states of the EU are required to use IFRS as adopted by the EU for listed companies since 2005. All other major economies have initiated a process to consider convergence or adoption of IFRS in the near future.

In this programme delegates will learn how to:

• Apply the specific IFRS standards to the related impacted financial statement line items
• Implement the IFRS in their organization’s reporting processes

Learning Objectives

•  Comply with IFRS financial statement requirements, including accounting policies and disclosures
• Understand the rules relating to first-time adoption of IFRS
• Implement the IFRS recognition and measurement rules for assets, liabilities, revenues, expenses, gains and losses

Target Audience

• Accountants involved in the preparation of financial statements
• Those who wish to gain insight into International Financial Reporting Standards

 Training Methodology

The program will be interactive and practical. “Classwork” and exercises will be mainly in groups. Hand-outs relevant to the subject matter will be distributed and discussed.

 Program Content

 DAY 1

• Introduction
• The IASB and IFRS
• Conceptual Framework
• Financial Statements – Presentation and Disclosures

 DAY 2

• Revenue Recognition
• Inventories
• Non-current Assets

 DAY 3

• Financial Instruments
• Provisions and Employee Benefits
• Leases

 DAY 4

• Income Taxes
• Business Combinations and Consolidated Financial Statements
• Effects of Changes in Foreign Exchange Rates
• First-Time Adoption of IFRS

 DAY 5

• New and Revised Financial Reporting Requirements as of March 31, 2013
• New or Revised Standards
• Amendments
• Interpretations
• Other pronouncements