Course detail

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Contents

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

Introduction

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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

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

Course Level

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Overview

Topics

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• 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) (including the 2011 amendments)
• 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 (SIC 29)
• 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 and IFRIC 4)
• Employee benefits (IAS 19) (including the 2011 amendments)
• 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
• Effects of changes in foreign exchange rates (IAS 21)
• Business Combinations and Consolidations
• Business combinations (IFRS 3)
• Disclosure of interests in other entities (IFRS 12)
• Fair Value Measurement (IFRS 13)
• Transitioning to IFRS
• First-time adoption of IFRS (IFRS 1)
• Expected Future Developments Relating to Presentation and Disclosure
• Amendments resulting from the Annual Improvements to IFRSs
• Other current Exposure Drafts

Course Benefits

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• 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, those under the new and amended standards and those likely under future IFRS changes

Teaching Method

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• Live group instruction in a workshop format, cases, examples, group work, open discussions
• 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 requirements
• Interactive participation is encouraged
• All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Bring This Course In House

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

Continuing Professional Education (CPE)

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16 hours

Venue

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All of our Washington DC 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 participants 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. .