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Course 1400
IFRS Disclosure and Presentation Requirements (2 days)

Booking Information

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Contents


Introduction

Continually expanding disclosure requirements and proposals for changes in the presentation of basic financial statements make it important not only to comply with current and newly-enacted requirements, but to understand the upcoming changes that are likely to occur. Increasing scrutiny of your firm’s reported footnotes by investors also offers an opportunity to enhance your company’s investor relations strategy with thoughtfully prepared disclosures.

This two-day workshop not only reviews the IFRS requirements and teaches the skills needed to prepare full and complete financial statements and footnotes, but also provides participants with insight into future changes.

The program answers questions such as:

  • What are the IFRS requirements relating to presentation and disclosures?
  • In which areas are alternative presentations allowed?
  • What are the most important issues to consider when preparing disclosures?
  • How do the presentation and disclosure choices made affect investor perceptions?
  • What are the upcoming changes in IFRS and when will they be effective?
  • How might future reporting and disclosure change to reflect the concept of management commentary?

Prerequisites

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

Course Level

Overview

Topics

  • Understanding IFRS Disclosure and Presentation Requirements
  • IASB’s philosophy
  • Level of anticipated user understanding
  • Operational Considerations
  • Selecting alternatives
  • Use of checklists
  • Addressing apparent non-compliance
  • Financial Statements and Related Disclosures
  • Presentation (IAS 1)
  • Cash flow statements (IAS 7)
  • Earnings per share (IAS 33)
  • Policies, accounting errors and changes in estimates (IAS 8)
  • Discontinued operations & non-current assets held for sale (IFRS 5)
  • Events after the reporting period (IAS 10)
  • Related party disclosures (IAS 24)
  • Operating segments (IFRS 8)
  • Interim financial reporting (IAS 34), including IFRIC 10 Interim financial reporting and impairment
  • Revenue (IAS 18)
  • Construction contracts (IAS 11)
  • Agreements for construction of real estate (IFRIC 15)
  • Government grants (IAS 20)
  • Service concession arrangements:disclosures (SIC29)
  • Distributions of non-cash assets to owners (IFRIC 17)
  • Assets and Liabilities
  • Property, plant & equipment (IAS 16)
  • Borrowing costs (IAS 23)
  • Intangible assets (IAS 38)
  • Investment property (IAS 40)
  • Impairment of assets (IAS 36)
  • Inventories (IAS 2)
  • Leases (IAS 17 including SIC 27)
  • Employee benefits (IAS 19)
  • Provisions (IAS 37)
  • Share-based payment (IFRS 2)
  • Financial assets and liabilities (IAS 32)
  • Financial instruments: disclosures (IFRS 7)
  • Income Taxes
  • Income taxes (IAS 12)
  • Foreign Currency Issues
  • Foreign currency transactions and financial statement translation (IAS 21)
  • Business Combinations and Consolidations
  • Business combinations (IFRS 3)
  • Consolidated and separate financial statements, including special purpose entities (IAS 27 and SIC12)
  • Associates (IAS 28)
  • Joint ventures (IAS 31)
  • Transitioning to IFRS
  • First-time adoption of IFRS (IFRS 1)
  • Expected Future Developments Relating to Presentation and Disclosure
  • Amendments resulting from 2009 and 2010 Improvements to IFRSs
  • Current Exposure Drafts
  • Discussion Paper on Presentation of Financial Statements

Course Benefits

  • Apply the IFRS presentation and disclosure requirements to the preparation of fully compliant IFRS financial statements
  • Specify the allowed alternatives in presentation of the key elements and demonstrate sound selection decisions in given scenarios
  • Explain the merits of different presentation choices from the perspective of the IASB and investors
  • Prepare appropriate disclosures, applying the IFRS requirements
  • Differentiate between the current presentation and disclosure requirements and those likely under future IFRS changes

Teaching Method

  • Live group instruction in a workshop format
  • Description and explanation of IFRS requirements and preparation in clear and simple language
  • Use of case studies and real-world examples to illustrate practical application of the rules
  • 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)

16 hours

Venue

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.

Course Summary

This two-day course focuses on developing the skills to effectively comply with both current and upcoming IFRS disclosure requirements. Participants will learn about IFRS presentation and disclosure requirements in detail, including those most recently issued, as well as new rules that are anticipated in the near future. Illustrations and exercises are used throughout the program to enhance and reinforce learning. Course topics include:
Presentation of the statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity | Disclosure of financial risk and policies of risk management | Correction of errors and changes in estimates | Disclosure of critical accounting estimates and judgments | Interim financial reporting | Revenue and construction contracts | Disclosures in respect of assets and liabilities: Property, plant & equipment, Intangibles, Impairment of assets, Inventories, Financial assets and liabilities (including hedge accounting) | Share capital (including Capital Disclosures required by IAS 1) | Leases | Employee benefits | Provisions | Share-based payment| Income taxes | Specific topics such as First-time adoption of IFRS, Business combinations and consolidation, Operating segments, Earnings per share, Discontinued operations and non-current assets held for sale, Events after the reporting period, Related party disclosures, and Foreign currency | Expected future developments relating to presentation and disclosure.

CFA Institute has approved this program for 14 credit hours. Please use promotion code "CFACPE" when booking, to ensure that CE credit for your participation will be automatically recorded in your CE Diary.
This IASeminars training course is an ideal part of your preparation for the IFRS Certificate offered by The Institute of Chartered Accountants in England and Wales (ICAEW).
The American Institute of Certified Public Accountants has teamed up with IASeminars to offer CPAs and other financial professionals a comprehensive range of IFRS training solutions.