Understanding International Financial Reporting Standards (IFRS)
Course Info
Code PF1-154
Duration 4 Days
Format Classroom Online
Course Summary
This course provides an in-depth exploration of International Financial Reporting Standards (IFRS), equipping financial professionals with the knowledge to apply these standards effectively. Covering foundational and advanced aspects ensures participants stay updated with the latest developments in global financial reporting.
Upon completion of this course, participants will be able to:
- Comprehend the principles and applications of IFRS.
- Apply IFRS when preparing and analysing financial statements.
- Understand complex IFRS topics, including financial instruments, leases, and revenue recognition.
This course is intended for
- Accountants and financial analysts.
- Auditors, portfolio managers, and credit analysts.
- Professionals seeking to deepen their IFRS knowledge.
This interactive course combines lectures, practical exercises, and case studies, enabling participants to apply IFRS concepts to real-world scenarios. Excel models and group discussions will enhance understanding and foster collaboration.
Course Content & Outline
Section 1: Introduction to IFRS and Financial Statements
- History and framework of IFRS.
- Overview of financial statement presentation (IAS 1, IAS 7).
Section 2: Assets and Liabilities Under IFRS
- Accounting for inventories, property, and equipment (IAS 2, IAS 16).
- Handling intangible assets and impairments (IAS 38, IAS 36).
Section 3: Complex IFRS Standards
- Leases and employee benefits (IFRS 16, IAS 19).
- Financial instruments and disclosures (IFRS 9, IFRS 7).
Section 4: Revenue, Taxes, and Foreign Exchange
- Revenue recognition (IFRS 15).
- Accounting for income taxes and foreign currency (IAS 12, IAS 21).
Section 5: Business Combinations and Advanced Topics
- Consolidations and joint arrangements (IFRS 10, IFRS 11).
- Transition to IFRS and future developments.
Certificate Description
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 Accreditation 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.
Adopting IFRS enhances global financial reporting consistency, transparency, and comparability, crucial for international business and investment. Despite challenges like training needs and system changes, the benefits include better stakeholder trust and informed decision-making, supporting global economic growth.
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