IFRS for the Real Estate Sector Online Course

By the end of this course, participants will be able to:

• Understand the basic principles of IFRS
• Establish accounting policies where specific guidance does not exist
• Learn practical answers to typical real estate questions on leases, property, plant and equipment and investment property
• Be able to analyze lease contracts and accurately account for lease incentives, service costs and embedded derivatives
• Understand the new IFRS 15 model
• Understand the proposed lease standard form the lessor and lessee view
• Apply “best practices” and industry recommendations within the real estate sector

CONTENT

• Overview and IFRS Conceptual Framework - General Principles and Standards
• IAS 1 Presentation of Financial Statements
• IAS 2 Inventories
• IAS 7 Statement of Cash Flows
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• IAS 10 Events after the Reporting Period
• IAS 11 Construction Contracts (compared to its replacement, IFRS 15)
• IAS 12 Income Taxes
• IFRS 8 Operating Segments
• IAS 16 Property, Plant and Equipment
  • Cost
  • Component approach
  • Depreciation method and period
  • Assets under-development
  • Cost model vs. revaluation model
• IAS 17 Leasesand IFRS 16 Leases
  • Classification of leases
  • Treatment by the lessor
  • Lease incentives
  • Service costs
  • Contingent rents
  • Sale and lease-back arrangements
  • Derivatives embedded in lease agreements
• IAS 18 Revenue (compared to IFRS 15)
• IAS 40 Investment Property
  • Definition of investment property
  • Initial measurement
  • Directly attributable expenditures
  • Cost model vs. revaluation model
  • Determination of fair value
  • Presentation of changes in fair value
• IFRS 1 First-time Adoption of International Financial Reporting Standards - Overview

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.

DATE

1ST BATCH:  16th – 18th May, 2022

2ND BATCH: 29th – 31st Aug, 2022

3RD BATCH: 12th – 14th Dec, 2022