PIRON

 

Meeting IFRS Disclosure Requirement

Duration: 2 Days

The programme answers questions such as:

1. What are the IFRS requirements relating to presentation and disclosures?
2. In which areas are alternative presentations allowed?
3. What are the most important issues to consider when preparing disclosures?
4. How do the presentation and disclosure choices made affect investor perceptions?
5. What are the upcoming changes in IFRS and when will they be effective?
6. How might future reporting and disclosure change to reflect the concept of management commentary?

Course Summary

This two-day course focuses on developing the skills to effectively comply with both current and upcoming IFRS disclosure requirements.

Course Benefits

  • Comply with IFRS requirements relating to presentation and disclosures
  • Understand the allowed alternatives and how to make sound selection decisions
  • Use your understanding to prepare appropriate disclosures
  • Appreciate the perspectives of the IASB and investors
  • Increase planning opportunities through awareness of likely future IFRS changes
  • Understand the implications of the IASB’s Discussion Paper on management commentary

Teaching Method

  • Description and explanation of IFRS requirements and preparation in clear and simple language
  • Interactive participation is encouraged
  • All participants receive copies of the presentation slides and course materials

Course Summary

Course topics include:

  • Presentation of the balance sheet/statement of financial position, income statement/ statement of recognised income and expense, cash flow statement/ statement of cash flows and statement of changes in equity (including revised IAS 1 Presentation of Financial Statements - statement of comprehensive income)
  • Disclosure of accounting policies and policies of financial risk management (IFRS 7 Financial Instruments: Disclosures)
  • Correction of errors and changes in estimates
  • Disclosure of critical accounting estimates and judgements
  • Interim financial reporting
  • Disclosures in respect of assets and liabilities: Property, plant & equipment, Intangibles, Impairment of assets, Financial assets and liabilities (including hedging, derivatives and requirements in accordance with IFRS 7)

 

  • Share capital (including Capital Disclosures required by IAS 1)
  • Employee benefits
  • Provisions
  • Share-based payment
  • Income taxes
  • Specific topics such as First-time adoption of IFRS, Business combinations and consolidation, Segment reporting (IAS 14 and IFRS 8), Earnings per share, Discontinued operations and non-current assets held for sale, Events after the balance sheet date, Related party transactions, and Foreign currency
  • Expected future developments relating to presentation and disclosure.

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