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IFRS

Objectives

The “International Financial Reporting Standards (IFRS) and 2021 Updates” course will help build the knowledge you need in IFRS for success in today’s global business world. Like you, we believe those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. Developed with input from subject matter experts from across the region, this 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 newest standards and changes.

Target Audience

By the end of this course, you will be able to:

  • By the end of the course, participants will be able to: Describe the setting process in 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, and revenues and expenses in accordance with IFRS
  • Use professional judgment in applying IFRS for matters relating to non-recurrent business transactions.

Course Modules

Introduction To IFRSs

  • The focus of IFRS and the IASB

IFRS: International Financial Reporting Standards:

  • The focus of IFRS and an overview of latest developments

Frameworks

  • Conceptual Framework
  • Principles of the new conceptual framework
  • IFRS 13 – Framework for fair value

Presentation

  • IR – Integrated Reporting
  • IAS 1 – PRESENTATION

Integrated Reporting

  • IAS 7 – Statement of Cashflows
  • IAS 33 – Earning Per Share
  • IAS 8 – Change in Accounting Policies, Estimates & Prior Period Errors
  • IFRS 5 – Non-Current Assets Held for sale & discounted operation

Revenue Recognition

  • IFRS 15 – Revenue from Contracts with customers
  • IAS 20 – Government Grants

Liabilities And Expenses

  • IAS 21 – Foreign Exchange (including IFRIS 22)
  • IAS 23 – Borrowing Cost
  • IAS 19 – Employee Cost
  • IAS 12 – Taxation
  • IAS 36 – Impact of Assets

Course Methodology:

Assets

  • IAS 2 – Inventory
  • IAS 16 – Property Plant & Equipment
  • IAS 38 – Intangible Assets (Including SIC 32: Website Cost)
  • IAS 40 – Investment Property
  • IAS 41 – Agriculture
  • IFRS 16 – Right of use Asset (Lessee)
  • IFRS 9 – Financial Assets
  • @ Cost / amortized cost
  • @ FV through P/L
  • @ FV through OCI (Mandatory)
  • @ FV through OCI (Elected)

Liabilities & Equity

  • IAS 32 – Equity Instrument
  • IFRS 9 – Financial Liabilities
  • IFRS 16 – Lease Liabilities
  • IAS 37 – Provision & Contingencies (IAS 10 event, after reporting date, IFRS 21 Levies, IFRIC 1 Decommissioning Liabilities)
  • IFRS 2 – Share-based payments
  • IFRIC17 – Distribution of Non – cash dividends
  • IFRS 17 – Insurance Liability

Group Statements & Consolidations

  • IFRS 3 – Business Combinations
  • IFRS 10 – Consolidated Financial Statements
  • IFRS 11 – Joint Arrangements
  • IAS 28 – Associates and Joint Ventures
  • Difference between GAP & IFRS

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    Program Schedules : Session Starts From

    9th July 2021

    Online Live

    23rd July 2021

    Classroom

    IFRS

    The “International Financial Reporting Standards (IFRS) and 2021 Updates” course will help build the knowledge you need in IFRS for success in today’s global business world. Like you, we believe those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. Developed with input from subject matter experts from across the region, this 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 newest standards and changes.

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