Duration : 4 Days
This IFRS Immersion program answers questions such as:
| 1. 2. 3. 4. 5. |
What are the current and likely future requirements of IFRS? How are IFRS recognition and measurement rules applied? Where can up-to-date information about IFRS are obtained? When are fair value measurements required? What are the prospects and timetable for convergence of US GAAP and IFRS? |
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Course Summary
This four-day course provides a detailed step-by-step guide through the technical issues faced in producing IFRS financial statements.
Course Benefits
- Comply with IFRS financial statement requirements, including accounting policies and disclosures
- Understand the rules relating to first-time adoption of IFRS
- Implement the IFRS recognition and measurement rules for assets, liabilities, revenues, expenses, gains and losses
- Apply IFRS ‘fair value’ measurement requirements
- Increase planning opportunities through awareness of likely future IFRS changes, including prospects for global convergence of major national accounting standards
Teaching Method
- Live group instruction
- Review of the rationale and objective for IASB standards
- Description and explanation of IFRS technical requirements in clear and simple language
- All participants receive copies of the presentation slides and course materials
Course Topic
The programme covers, through the use of case studies and exercises:
Day 1
1. Income statement presentation and specific disclosures
2. Cash flow statements
3. Recognition and measurement of assets (property, plant & equipment, intangible assets, inventories, investment property) including the accounting treatment of impairment and assets held for sale
| a. b. c. d. e. f. |
Revenue recognition, Earnings per share, Segment reporting, discontinued operations, Related parties, Accounting policies |
3. Recognition and measurement of assets (property, plant & equipment, intangible assets, inventories, investment property) including the accounting treatment of impairment and assets held for sale
Day 2
4. Interest capitalization
5. Accounting estimates and errors
6. Provisions/ non-financial liabilities and other liabilities
7. Leases
8. Current and deferred taxes
5. Accounting estimates and errors
6. Provisions/ non-financial liabilities and other liabilities
7. Leases
8. Current and deferred taxes
Day 3
9. Investments in associates and joint ventures
10. Business combinations and consolidated financial statements, including special purpose entities
11. Financial instruments, including the treatment of derivatives & hedge accounting
10. Business combinations and consolidated financial statements, including special purpose entities
11. Financial instruments, including the treatment of derivatives & hedge accounting
Day 4
12. Foreign currency transactions and financial statement translation
13. Events after the balance sheet date
14. First-time adoption of IFRS
15. Brief comparisons with other major GAAP (e.g. US & UK GAAP) and discussion of future developments.
13. Events after the balance sheet date
14. First-time adoption of IFRS
15. Brief comparisons with other major GAAP (e.g. US & UK GAAP) and discussion of future developments.
