International Financial Reporting Standards (IFRS) Training Course

Course Overview:

This comprehensive IFRS Training Course is designed to equip you with the essential skills for Financial Statements Preparation under International Financial Reporting Standards. Whether you're a beginner or looking for IFRS Certification, this course covers everything from IFRS Framework to IFRS Compliance and IFRS Reporting. Learn the Differences between IFRS and GAAP and get hands-on experience in IFRS Accounting Standards. Ideal for those who want a complete IFRS Tutorial.
 

Target Audience:

• Financial Analysts
• Accountants
• Auditors
• CFOs
• Financial Controllers

Targeted organisational Departments:

• Finance
• Accounting
• Internal Audit
• Compliance

 Targeted Industries:

• Banking
• Insurance
• Manufacturing
• Retail

Course Offerings:

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

• Prepare Financial Statements under IFRS
• Understand IFRS vs GAAP
• Apply IFRS Accounting Standards
• Ensure IFRS Compliance
• Navigate IFRS Reporting
   

Training Methodology:

This 5-day intensive course uses a blend of lectures, case studies, group work, and interactive sessions. Participants will engage in real-world scenarios that require Financial Statements Preparation under IFRS and IFRS Compliance. Feedback sessions will be conducted to ensure understanding and application of IFRS Accounting Standards.
 

Course Toolbox:

• IFRS Handbook
• Financial Statements Templates
• IFRS Compliance Checklist
• Online IFRS Tutorial
• Case Studies on IFRS Reporting
   

Course Agenda:

Day 1: Introduction to IFRS Framework and Financial Statement Presentation

• Topic 1: The General Framework of International Financial Reporting Standards (IFRS)
• Topic 2: Objectives and Principles of Financial Reporting Under IFRS
• Topic 3: Regulators and Standard Setters in IFRS
• Topic 4: Relationship Between IFRS and National Standards
• Topic 5: The Standard - IFRS and its Global Impact
• Topic 6: The Regulatory Role of IASB in Setting Standards
• Reflection & Review: Recap of the IFRS Framework and Introduction to IAS Standards

Day 2: Presentation of Financial Statements and Recognition of Assets

• Topic 1: IAS 1: Presentation of Financial Statements
• Topic 2: Components of Basic Financial Statements under IFRS
• Topic 3: General and Specific Disclosure Requirements in IFRS Reporting
• Topic 4: Guidelines for Accurate and Consistent Presentation under IAS 1
• Topic 5: IAS 16: Recognition and Measurement of Fixed Assets
• Topic 6: Depreciation and Periodic Review of Asset Value under IAS 16
• Reflection & Review: Overview of IAS 1 and IAS 16 with practical examples

Day 3: Intangible Assets, Revenue Recognition, and Inventories

• Topic 1: IAS 38: Intangible Assets and Recognition Criteria
• Topic 2: Differences Between Research and Development in Accounting
• Topic 3: IFRS 15: Revenue from Contracts with Customers
• Topic 4: Stages of Revenue Recognition under IFRS 15
• Topic 5: IAS 2: Inventories and Inventory Measurement Methods (FIFO, Weighted Average)
• Topic 6: The Impact of Inventory Valuation on Profitability under IAS 2
• Reflection & Review: Application of IFRS 15 and IAS 2 in real-world scenarios

Day 4: Liabilities, Provisions, Leases, and Financial Instruments

• Topic 1: IAS 37: Liabilities, Provisions, and Contingent Liabilities
• Topic 2: Identifying and Distinguishing Between a Liability and a Provision under IAS 37
• Topic 3: IFRS 16: Changes in the Treatment of Leases for Lessees and Lessors
• Topic 4: Recognizing Right-of-Use and Associated Liabilities under IFRS 16
• Topic 5: IFRS 9: Classification and Measurement of Financial Instruments
• Topic 6: Financial Instruments, Expected Credit Losses, and Hedge Accounting under IFRS 9
• Reflection & Review: IFRS 16 and IFRS 9 key takeaways and their financial implications

Day 5: Financial Disclosures and Post-Balance Sheet Events

• Topic 1: IFRS 7: Financial Instruments Disclosures
• Topic 2: IAS 10: Events After the Reporting Period and its Impact on Financial Reporting
• Topic 3: IAS 24: Related Party Disclosures
• Topic 4: IFRS 7: Risk Disclosures and Financial Instruments
• Topic 5: Post-Balance Sheet Disclosures under IFRS
• Topic 6: The Importance of Transparency in International Financial Reporting under IFRS
• Reflection & Review: Summary of key financial disclosures and their importance for transparency in financial reporting
   

How This Course is Different from Other IFRS Training Courses:

Unlike other courses, this IFRS Training Course offers a comprehensive guide to IFRS Compliance and Financial Statements Preparation. It's not just an IFRS Tutorial; it's a pathway to IFRS Certification. With real-world case studies and a focus on IFRS Reporting, this course stands out as a complete package for mastering International Financial Reporting Standards.