IFRS in Practice: Interpreting Standards for Real-World Reporting

This course is designed to bridge the gap between theoretical knowledge of International Financial Reporting Standards (IFRS) and their practical application in real-world financial reporting. Rather than focusing solely on definitions and rules, the programme emphasises interpretation, professional judgement, and implementation of key IFRS requirements in day-to-day financial reporting scenarios.

Participants will gain a clear understanding of how IFRS standards are applied in practice, how financial information is presented and disclosed, and how common reporting challenges are addressed in professional environments. The course combines conceptual explanations with practical examples and case-based discussions to support confident and compliant financial reporting.

Section 1: IFRS Framework and Professional Judgement

• Overview of IFRS and the role of the IASB
• Objectives of financial reporting under IFRS
• The IFRS Conceptual Framework
• Principles-based standards and the use of professional judgement
• Ethical considerations and consistency in reporting

Section 2: Structure and Presentation of Financial Statements

• Components of IFRS-compliant financial statements
• Statement of Financial Position
• Statement of Profit or Loss and Other Comprehensive Income
• Statement of Cash Flows and Statement of Changes in Equity
• Disclosure requirements and materiality considerations

Section 3: Key IFRS Standards in Practice

• Revenue recognition and performance obligations (IFRS 15)
• Lease accounting and impact on financial position (IFRS 16)
• Financial instruments: classification, measurement, and impairment (IFRS 9)
• Property, plant, and equipment versus intangible assets
• Provisions, contingencies, and estimates

Section 4: Applying IFRS to Real-World Reporting Scenarios

• Translating IFRS requirements into accounting policies
• Practical case studies and reporting examples
• Common interpretation challenges faced by finance professionals
• Comparing alternative treatments within IFRS guidelines
• Avoiding frequent compliance and disclosure errors

Section 5: IFRS Analysis, Interpretation, and Reporting Quality

• Interpreting IFRS-based financial statements
• Impact of IFRS application on financial ratios and performance indicators
• Transparency, comparability, and reporting quality
• Best practices for consistent and defensible reporting
• Course review and applied assessment

Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.  

Holistique Training Certificates are accredited by the British Assessment Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.  

CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.