Course Description
This comprehensive 5-day course provides an in-depth exploration of International Financial Reporting Standards (IFRS) and their latest updates. Participants will gain a thorough understanding of IFRS principles, practical application techniques, and recent changes affecting financial reporting. The course combines theoretical knowledge with hands-on exercises to ensure a well-rounded learning experience.
Learning Objectives
- Understand the fundamental principles and framework of IFRS
- Apply IFRS standards to various financial reporting scenarios
- Analyze and interpret financial statements prepared under IFRS
- Stay updated with the latest IFRS amendments and their implications
- Develop skills to transition from local GAAP to IFRS
Course Modules
Day 1: IFRS Foundation and Conceptual Framework
- Introduction to IFRS and standard-setting process
- Conceptual framework for financial reporting
- First-time adoption of IFRS (IFRS 1)
- Presentation of financial statements (IAS 1)
Day 2: Recognition and Measurement
- Revenue recognition (IFRS 15)
- Financial instruments (IFRS 9)
- Leases (IFRS 16)
- Inventories and property, plant, and equipment (IAS 2, IAS 16)
Day 3: Group Reporting and Business Combinations
- Consolidated financial statements (IFRS 10)
- Business combinations (IFRS 3)
- Investments in associates and joint ventures (IAS 28, IFRS 11)
- Disclosure of interests in other entities (IFRS 12)
Day 4: Specialized Topics and Fair Value Measurement
- Fair value measurement (IFRS 13)
- Impairment of assets (IAS 36)
- Employee benefits and share-based payments (IAS 19, IFRS 2)
- Income taxes (IAS 12)
Day 5: Latest Updates and Practical Application
- Review of recent and upcoming IFRS amendments
- IFRS for SMEs
- Integrated reporting and sustainability reporting
- Case studies and practical exercises
Practical Wins for Participants
- Ability to prepare and analyze IFRS-compliant financial statements
- Enhanced skills in applying IFRS to complex transactions
- Up-to-date knowledge of the latest IFRS developments and their impact
- Improved capacity to make informed financial reporting decisions
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
