IFRS (International Financial Reporting Standards)
Course information
Progress toward a set of global accounting standards is no longer a goal of the International Accounting Standards Board (IASB)—it is a reality, as many of the world’s largest capital markets require or permit the use of International Financial Reporting Standards (IFRS). Over 125 countries require publicly traded companies to apply IFRS, while many other jurisdictions permit the use of IFRS in some circumstances.
Target Audience
- Accounting and finance professionals who work for private or public multinational organizations whose parent entity or subsidiaries have adopted IFRS
- Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS
Course Objectives
At the end of this course, the candidates will be able to:
- Recognize the underlying concepts and principles of IFRS.
- Identify the required format and content of a complete set of financial statements, including required footnote disclosures; and identify the presentation and disclosure requirements of a statement of cash flows, including the proper classification of operating, financing, and investing activities.
- Indicate and apply the requirements of new standards on revenue recognition (IFRS 15) and leases (IFRS 16).
- Identify the classification, recognition, measurement, and disclosure of common financial statement assets and liabilities.
- Identify and account for an impairment loss with respect to a nonfinancial asset.
- Recall required disclosures for related parties and events after the reporting period.
- Identify and calculate tax amounts to be recognized in the financial statements.
- Recognize the accounting treatment applied to share-based payments and employee benefits.
- Recall accounting requirements for business combinations, joint arrangements, and investments in associates.
- Identify and calculate tax amounts to be recognized in the financial statements.
- Recall the accounting requirements applicable to entities that transact in or keep accounting records in foreign currency.
- Indicate how to measure fair value when required by IFRS standards.
Course Outline
- IFRS: The Conceptual Framework for Financial Reporting and Fair Value Measurement (IFRS 13)
- Presentation of Financial Statements (IAS 1) and Events After the Reporting Period (IAS 10)
- Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)
- Inventory (IAS 2)
- Property, Plant and Equipment (IAS 16) and Borrowing Costs (IAS 23)
- Investment Property (IAS 40)
- Intangible Assets (IAS 38)
- Impairments (IAS 36)
- Non-Current Assets Held-for-Sale and Discontinued Operations (IFRS 5)
- Government Grants (IAS 20)
- Leases (IFRS 16)
- Financial Instruments (IAS 32, IFRS 9, IFRS 7)
- Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
- Income Taxes (IAS 12)
- Employee Benefits (IAS 19)
- Share-Based Payment (IFRS 2)
- Revenue from Contracts with Customers (IFRS 15)
- Related Party Disclosures (IAS 24)
- Consolidated Financial Statements (IFRS 10) and Separate Financial Statements (IAS 27)
- Business Combinations (IFRS 3)
- Investment in Associates and Joint Ventures (IAS 28) and Joint Arrangements (IFRS 11)
- Foreign Exchange Rates (IAS 21)
- First-Time Adoption of IFRS (IFRS 1)
- Statements of Cash Flows (IAS 7) and Interim Reporting (IAS 34)
- Earnings per Share (IAS 33)
PRE-REQUISITES
This is an intermediate to advanced course, so an accounting degree and / or background is mandatory.
course certification
DISS CERTIFICATE
Date: Batch starts October 2020
Duration: 10 Sessions (Twice a week)
Timing: 4.5 hours per session
TESTIMONIAL
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Meet THE INSTRUCTORS
Instructor Name
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