IFRS Immersion Workshop (8 days)

Course code: 1000

Introduction

This eight-day dual-instructor workshop provides a detailed review of all significant technical requirements related to International Financial Reporting Standards (IFRS). It includes coverage of IFRSs, hands-on case studies, examples, exercises, and benefits from the interactive participation of the attendees. Designed as an extended version of Course 1010 IFRS Fundamentals (4-day course), this comprehensive workshop helps participants to acquire the tools necessary to understand and apply IFRSs and prepare IFRS financial statements. The program includes the latest pronouncements, and participants are brought up-to-date on all topics. In addition, participants are provided with information to assist them in researching accounting issues and monitoring future changes.

Registration fee for this unique event includes:

  • 8 days of formal tuition by some of our most senior instructors.
  • Full set of course materials (including case studies, illustrations and examples).
  • An iPad Mini which you can use for research during and after the course.
  • A local sightseeing tour, arranged and paid for by IASeminars.
  • Lunch and refreshments on every teaching day.
  • Farewell dinner with graduation photographs.

This course is ideal for individuals at all levels within an organization who need to have detailed knowledge of IFRSs. In essence, it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions and preparing, reviewing or approving IFRS financial statements. The program is generic and does not focus on any single industry.

Presented by two experienced IFRS instructors, this program gives participants the benefit of decades of IFRS experience. Delegates receive the benefit of more than one view of IFRS and the opportunity to ask questions, receiving thorough answers to their individual questions from the presenters’ past experiences. Our specialist instructors explain the principles clearly and simply and provide real-world examples, including an overview of the requirements for first-time adoption of IFRS and the practicalities of implementing IFRS.

The program includes coverage of Standards with future applicability, Exposure Drafts and the IASB’s future plans, giving participants up-to-the-minute information and providing an ability to foresee how anticipated and published changes may affect their organizations.

This course answers questions such as:

  • What are the current and likely future requirements of IFRSs?
  • What is the probable impact of adopting such requirements?
  • How are IFRS recognition and measurement rules applied?
  • What are the requirements for presentation of IFRS financial statements and related disclosures?
  • Where can up-to-date information about IFRSs be obtained?
  • How can complex or unique situations be researched?

Topics

  • Introduction to IFRSs
    • Brief history of IFRSs
    • Conceptual Framework
    • Fair value measurement (IFRS 13)
  • Content of IFRS Financial Statements
    • Presentation of financial statements (IAS 1)
    • Statement of cash flows (IAS 7)
    • Accounting policies, changes in accounting estimates and errors (IAS 8)
    • Events after the reporting period (IAS 10)
    • Operating segments (IFRS 8)
    • Related party disclosures (IAS 24)
    • Earnings per share (IAS 33)
    • Interim financial reporting (IAS 34 and IFRIC 10)
    • Discontinued operations (IFRS 5)
  • Assets
    • Inventories (IAS 2)
    • Construction contracts (IAS 11 and IFRIC 15)
    • Property, plant & equipment (IAS 16)
    • Borrowing costs (IAS 23)
    • Intangible assets (IAS 38)
    • Investment property (IAS 40)
    • Impairment of assets (IAS 36)
    • Non-current assets held for sale (IFRS 5)
  • Liabilities
    • Leases (IAS 17, SIC-27, and IFRIC 4)
    • Employee benefits (IAS 19 and IFRIC 14)
    • Provisions, contingent liabilities and contingent assets (IAS 37)
    • Share-based payment (IFRS 2)
  • Financial Instruments
    • Financial assets and liabilities, hedging and derivatives (IAS 32, IAS 39, IFRS 9)
    • Financial instrument disclosures (IFRS 7)
  • Income Taxes
    • Income taxes (IAS 12)
  • Revenue Recognition
    • Revenue (IAS 18, IFRIC 13 and 18)
    • Construction contracts (IAS 11)
  • Foreign Currency Issues
    • The effects of changes in foreign exchange rates (IAS 21)
  • Business Combinations, Consolidations, Associates & Joint Arrangements
    • Business combinations (IFRS 3)
    • Consolidated financial statements (IFRS 10)
    • Separate financial statements (IAS 27)
    • Investments in associates and joint ventures (IAS 28)
    • Joint arrangements (IFRS 11)
    • Disclosure of interests in other entities (IFRS 12)
  • Review of Specialized Areas
    • Accounting for government grants and disclosure of government assistance (IAS 20)
    • Accounting and reporting by retirement benefit plans (IAS 26)
    • Financial reporting in hyperinflationary economies (IAS 29)
  • Transitioning to IFRSs
    • First-time adoption of IFRSs (IFRS 1)
  • Expected Future Developments
    • Annual improvements to IFRSs
    • Current exposure drafts
    • Draft interpretations
    • Discussion papers
    • Update on the IASB-FASB convergence project
    • Convergence plans with other national GAAP
    • +IASB Work Plan
    • IFRS Interpretations Committee projects

Detailed Agenda

There will be a weekend break during this course. Note the working week in the following course locations:


USA: Monday-Friday 

Europe: Monday-Friday 

UAE: Sunday-Thursday


The teaching day will be from 9am to 6pm. Please arrive at the seminar room by no later than 8.45am.

Teaching method

  • Live group instruction in a workshop format, cases, examples, group work, open discussions
  • Review of the rationale and objective for IASB standards
  • Description and explanation of IFRS technical requirements in clear and simple language
  • Use of case studies, exercises, interpretations, and real-world financial statements to illustrate practical application of the standards
  • Dual-instructor format, resulting in greater opportunity to have individual questions answered from previous experience
  • Interactive participation is encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Prerequisites

Basic knowledge of accounting environment, processes and objectives. No other advance preparation is required for this course.

Course benefits

  • Learn how to prepare IFRS financial statements, including statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity
  • Compute basic and diluted earnings per share
  • Differentiate between changes in estimates and changes in accounting policies
  • Comply with IFRS disclosure requirements, including accounting policies
  • Identify the optional and mandatory requirements for first-time adoption of IFRSs
  • Greater understanding of the considerations when deciding which of the optional treatments in IFRS 1 to apply
  • List the IFRS requirements for recognition and measurement of assets, liabilities, revenues, expenses, gains and losses
  • Calculate asset impairment using the ‘cash-generating units’ approach in accordance with IAS 36
  • Differentiate between finance and operating leases
  • Explain likely future IFRS changes, including prospects for convergence with national accounting standards
  • All participants receive an iPad Mini to be used for technical research during and after the course
  • City tour and graduation dinner, arranged and paid by IASeminars

CPE / CPD Accreditation

NASBA

IASeminars is registered with the US National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

ICAEW Partner in Learning

IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 140,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.

CFA Institute

IASeminars is an approved Continuing Education training provider of the CFA Institute (the global association of investment professionals) and an official IFRS training partner of that institute. IASeminars is also an approved training provider of the New York Society of Security Analysts, the CFA Society of the UK and of various other CFA societies around the world. As a participant in the CFA Institute Approved-Provider Program, IASeminars has determined that this program qualifies for 40 credit hours. Please use promotion code "CFACPE" when booking via this website, to ensure that CE credit for your participation will be automatically recorded in your CE Diary.

New York State Board of Public Accountancy

IASeminars is registered with the New York State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 002546. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.

Texas State Board of Public Accountancy

IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.

Venue

  • Our London seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.
  • Our London seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.
  • Our Dubai seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.

Instructor(s)

  • Claire Dean

    Claire Dean is an instructor and consultant specialising in IFRS, UK GAAP and finance training. After qualifying as a Chartered Accountant Claire moved into training, delivering exam based courses for various financial qualifications and providing IFRS training to Ernst & Young's qualified staff. Claire then joined Ernst & Young’s Financial Reporting Advisory team in London as a Senior Manager. In this role she provided technical advice in all aspects of UK GAAP and International Financial Reporting Standards (IFRS) to clients of E&Y, including working on IFRS conversions. Aside from being an experienced IFRS instructor, Claire also delivers financial training to the Analysts at many of the large investment banks across the world, runs finance courses for non financial managers and teaches the professional chartered accountancy examinations. A member of the ICAEW herself, Claire has a 1st class Honours degree in Accounting and Finance.

    Bill Kemp

    Bill Kemp is an IASeminars senior instructor and a consultant specialising in International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and the comparison of such standards with UK, US and Canadian Generally Accepted Accounting Principles (GAAP). He has delivered many public and in-house training courses around the world to a diverse audience from sectors including government and non-profit, financial services, retail, real estate, oil & gas, telecoms, and IT. An experienced educator, he was formerly Managing Director of a major London financial training company. Bill's work also includes training and consulting on financial statement analysis and business valuation, and he teaches on the International Accounting MSc programme of the London School of Economics. He is a UK chartered accountant, and was educated at the Edinburgh Academy and at Oxford University.

  • Claire Dean

    Claire Dean is an instructor and consultant specialising in IFRS, UK GAAP and finance training. After qualifying as a Chartered Accountant Claire moved into training, delivering exam based courses for various financial qualifications and providing IFRS training to Ernst & Young's qualified staff. Claire then joined Ernst & Young’s Financial Reporting Advisory team in London as a Senior Manager. In this role she provided technical advice in all aspects of UK GAAP and International Financial Reporting Standards (IFRS) to clients of E&Y, including working on IFRS conversions. Aside from being an experienced IFRS instructor, Claire also delivers financial training to the Analysts at many of the large investment banks across the world, runs finance courses for non financial managers and teaches the professional chartered accountancy examinations. A member of the ICAEW herself, Claire has a 1st class Honours degree in Accounting and Finance.

    Bill Kemp

    Bill Kemp is an IASeminars senior instructor and a consultant specialising in International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and the comparison of such standards with UK, US and Canadian Generally Accepted Accounting Principles (GAAP). He has delivered many public and in-house training courses around the world to a diverse audience from sectors including government and non-profit, financial services, retail, real estate, oil & gas, telecoms, and IT. An experienced educator, he was formerly Managing Director of a major London financial training company. Bill's work also includes training and consulting on financial statement analysis and business valuation, and he teaches on the International Accounting MSc programme of the London School of Economics. He is a UK chartered accountant, and was educated at the Edinburgh Academy and at Oxford University.

  • Daniel Pharaon

    Daniel K. Pharaon is Head of Internal Audit / Mergers and Acquisitions Leader at Midis Group Ltd., a large IT group with operations in 27 countries in the Middle East, Europe and Africa. He previously spent 5 years with KPMG in Lebanon, where he was the manager in charge of the international banking practice serving clients such as HSBC, Standard Chartered and Citibank. He also worked on international clients in other sectors (e.g. manufacturing), and was regularly involved in IFRS issues. Daniel is a US Certified Public Accountant (CPA.), a Certified Internal Auditor (CIA) and he has an IFRS Certificate from the Institute of Chartered Accountants in England and Wales. He is a part-time instructor with Morgan International for courses leading to the CPA, CIA, CMA, and CFA credentials. Daniel has been involved in the preparation and delivery of many other training courses on topics such as IFRS, internal controls, financial statement analysis and fraud management. Daniel is fluent in English, Arabic and French.

    Michelle McKechnie

    Michelle McKechnie a qualified South African Chartered Accountant, with knowledge and experience in International Financial Reporting Standards (IFRS). She has delivered courses on ACCA, CPA and CIMA as well as teaching the ICAEW IFRS diploma. Michelle graduated Top 5 in the Accounting Honours degree (cum laude) at the University of Johannesburg in South Africa. After completing 3 years auditing and assurance experience at KPMG, Michelle was transferred to KPMG’s Department of Professional Practice, specializing in IFRS advisory services to clients. In 2010, Michelle relocated to Dubai where she worked as Corporate Finance Manager for a global property developer listed on the Dubai Financial Market.

In House

To bring this course in-house please contact us and we will be pleased to assist

Course details

Course schedule

Select a start date for more details

9 Jun 2014 London

Duration:
8 days
Course level:
Overview
CPE / CPD:
64 hours
Start date:
9 Jun 2014
Start time:
09:00
Finish date:
18 Jun 2014
Finish time:
18:00
Location:
London
Price:
GBP 5,750
Subject to UK VAT (Read more)

20 Oct 2014 London

Duration:
8 days
Course level:
Overview
CPE / CPD:
64 hours
Start date:
20 Oct 2014
Start time:
09:00
Finish date:
29 Oct 2014
Finish time:
18:00
Location:
London
Price:
GBP 5,750
Subject to UK VAT (Read more)

16 Nov 2014 Dubai

Duration:
8 days
Course level:
Overview
CPE / CPD:
64 hours
Start date:
16 Nov 2014
Start time:
09:00
Finish date:
25 Nov 2014
Finish time:
18:00
Location:
Dubai
Price:
GBP 5,750
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