International Financial Reporting Standards (IFRS) For Accountants

By the end of the program, participants will be able to:

• Develop a sound understanding of International Financial Reporting Standards (IFRS) and their impact on financial reporting
• Properly account for transactions affecting assets, liabilities and owner’s equity according to IFRS
• Prepare financial statements with related notes and disclosures that are compliant with IFRS

CONTENT:

Statement of Financial Position

. Elements of statement of financial position

. Forms and formats

. Classification of assets and Liabilities

. Classification of stockholders equity

Comprehensive Income

. Concepts of comprehensive income

. Recognition and Measurement

. Items on the income Statement

. Components of other comprehensive income

Statement of changes in equity and Statement of cash flows

. Disclosures and Alternative

. Reporting Non Controlling interests

. Operating, Investing and financing cash flows

Accounting for assets:

. Cash and Receivables

. Measuring and Valuing of Inventory

. Property, Plant and Equipment

. Accounting for Investment Property

. Intangible assets and Research and Development (R&D) costs

. Fair value measurement

Liabilities And Stockholders’ Equity

. Current Liabilities and Accruals

. Accounting for Contingencies

. Long-term Liabilities

. Accounting for debt and equity Transactions

. Capital Retained Earnings Reserves

Revenue recognition:

. Concepts, Rules and Examples

. Revenue Recognition Criteria

. Measurement of Revenue

FOR WHOM: Accountants, Auditors, Treasurers, Finance Manager and others who want to update or sharpen their knowledge in IFRS.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.