Course detail

E-mail a friend with details of this course.
Download a printable pdf of this page.

Contents

• Introduction
• Prerequisites
  
• Course Level
  
• Topics
  
• Course Benefits
  
• Teaching Method
  
• Continuing Professional Education
  
• Venue
  
  

Introduction

Go To Top

This eight-day dual-instructor workshop provides a detailed review of all significant technical IFRS requirements. It includes case studies, examples, exercises, coverage of IFRSs, and interactive hands-on participation from the participants. 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 IFRS and prepare IFRS financial statements. The program includes the latest pronouncements, and participants are brought up-to-date on all topics.

This course is ideal for individuals at all levels within an organization who need to have detailed knowledge of IFRS. 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 one particular industry.

Presented by two experienced IFRS instructors, this program gives participants the benefit of decades of IFRS experience. Delegates receive a high level of personal attention throughout the course and thorough answers to their individual questions.

The program includes coverage of Exposure Drafts and the IASB’s future plans, giving participants up-to-the-minute information and providing an ability to foresee how anticipated 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?

Prerequisites

Go To Top

Understanding of basic accounting principles based on any national standards. No advance preparation is required for this course.

Course Level

Go To Top

Overview

Topics

Go To Top

• Introduction to IFRS
• Brief history of IFRS
• The GAAP hierarchy
• Content of IFRS Financial Statements
• Presentation (IAS 1)
• Statement of cash flows (IAS 7)
• Accounting policies, accounting errors and changes in estimates (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 assets and contingent liabilities (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 tax expenses, provisions & deferred taxes (IAS 12)
• Revenue Recognition Issues
• Revenue (IAS 18, IFRIC 13, 15 and 18)
• Construction contracts (IAS 11)
• Foreign Currency Issues
• Foreign currency transactions and financial statement translation (IAS 21)
• Business Combinations, Consolidations, Associates & Joint Ventures
• Business combinations (IFRS 3 revised 2008)
• Consolidated and separate financial statements, including special purpose entities (IAS 27)
• Investments in associates (IAS 28)
• Interests in joint ventures (IAS 31)
• Review of Specialized Areas
• Government grants (IAS 20)
• Accounting by retirement benefit plans (IAS 26)
• Hyperinflation (IAS 29)
• Transitioning to IFRS
• First-time adoption of IFRS (IFRS 1)
• Expected Future Developments
• Annual improvements to IFRSs
• Other current exposure drafts
• Draft interpretations
• Discussion papers
• Update on the IASB-FASB convergence project
• Convergence plans with other national GAAPs
• IASB projects and agenda
• IFRIC projects and agenda

Course Benefits

Go To Top

• Prepare IFRS financial statements, including balance sheet, statement of comprehensive income, cash flow statement, 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 IFRS
• 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 major national accounting standards

Teaching Method

Go To Top

• Live group instruction in a workshop format
• 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 a high level of attention to individual participants
• Interactive participation is encouraged
• All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Continuing Professional Education (CPE)

Go To Top

64 hours

Venue

Go To Top

All of our Dubai seminars take place in 4 star professional conference facilities, usually in city-centre downtown 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.