International Financial Reporting Standards (IFRS)

Details

This comprehensive training course covers the key principles and requirements of the International Financial Reporting Standards (IFRS) and equips participants with the necessary skills to understand, apply, and analyze financial statements prepared in accordance with IFRS. The course includes theoretical concepts, practical examples, and interactive discussions to ensure participants effectively grasp the concepts and competencies required for financial reporting in a global context.

Target Group

Who Should Attend

• Accountants and finance professionals responsible for financial reporting.
• Auditors and assurance service providers.
• Financial analysts and investment professionals.
• Corporate finance managers and executives.
• Regulators and standard-setters.

Goals

• To understand the history, purpose, and structure of the International Accounting Standards Board (IASB) and the International Financial Reporting Standards (IFRS).
• To gain knowledge of the key IFRS principles, requirements, and their application in the preparation of financial statements.
• To develop skills in the recognition, measurement, presentation, and disclosure of financial information in accordance with IFRS.
• To analyze and interpret financial statements prepared under IFRS, including the understanding of the impact of IFRS on financial ratios and performance analysis.
• To familiarize participants with the latest IFRS updates, amendments, and interpretations.
• To enhance participants' ability to identify and address complex financial reporting issues arising from the application of IFRS.

Target Competencies

• Comprehensive understanding of IFRS principles and requirements.
• Financial statement preparation and presentation in line with IFRS.
• Financial statement analysis and interpretation under IFRS.
• Identification and resolution of complex IFRS-related financial reporting issues.
• Staying up-to-date with the latest IFRS updates, amendments, and interpretations.
• Effective communication of financial information and results in compliance with IFRS.

Outlines

Introduction to IFRS

• The history and development of IFRS
• The structure and function of the IASB
• IFRS adoption and convergence process
• IFRS vs. other accounting standards (e.g., US GAAP)
• The IFRS framework and key financial statements

Key IFRS Principles and Requirements

• Recognition and measurement principles
• Presentation and disclosure requirements
• Accounting policies, estimates, and errors
• Consolidation and equity accounting
• Foreign currency transactions and translation