International Financial Reporting Standards (IFRS)

Why Attended

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). IFRS is followed by, or being adopted by, more than 120 countries. All member states of the EU are required to use IFRS as adopted by the EU for listed companies since 2005. All other major economies have initiated a process to consider convergence or adoption of IFRS.

International Financial Reporting Standards (IFRS) will help build the knowledge needed for success in today’s global business world. Those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. This training course is designed to provide accounting and finance professionals with the training, knowledge and practical guidance needed to use IFRS and stay up-to-date with its standards and changes.

Important Features

The important features of the International Financial Reporting Standards (IFRS) training course are:

Understanding financial statements
Financial reporting
Applying IFRS
Accounting for current and non-current assets and liabilities
Classifying investments
Describing updates and amendments
Assessing impact on financial accounts

Learning Objectives

Describe the setting process in International Financial Reporting Standards (IFRS) and list the currently available standards
Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization
Determine the correct presentation and minimum disclosure for components of statements of financial position, statements of comprehensive income, statements of owners’ equity and statements of cash flows in accordance with IFRS
Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS
Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions

Target Audience

Professionals in the fields of finance and accounting
Accountants involved in the preparation of financial statements
Professionals seeking to enhance knowledge from companies implementing IFRS as the standard of reporting

Training Methodology

The International Financial Reporting Standards (IFRS) training course uses a mix of interactive techniques, such as brief presentations, application of theories and group exercises to exchange experience and apply knowledge acquired throughout the course.

Pre & Post course assessments will be used to measure the effectiveness of this training.

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