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 (IFRSs). 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 IFRS Fundamentals - Comprehensive Workshop (5-day course), the Immersion Course helps participants to acquire the tools necessary to understand and apply IFRSs and prepare IFRS-compliant 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.
  • Lunch and refreshments on every teaching day.
  • Farewell dinner and class 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 IFRSs 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 IFRSs and the practicalities of implementing IFRSs.

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)
    • Discontinued operations (IFRS 5)
    • 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)
  • Assets
    • Inventories (IAS 2)
    • 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)
      • Update on IFRS 16 Leases
    • Employee benefits (IAS 19)
    • 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)
    • Revenue from Contracts with Customers (IFRS 15)
  • 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
    • IASB Work Plan

Detailed Agenda

The workshop will consist of eight days of instruction and participation, separated by a weekend break.

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

  • Group live 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 farewell dinner, arranged and paid by IASeminars

Testimonials

See what past participants said about this course:

[Compared to earlier provider] IASeminars is far better. The course was insightful and the presenters [Alan Mayo and Nick Auer] were excellent.

Richard Kobina Borsah, Head Of Finance, Quality Insurance Company Limited, Ghana

The instructors [Alan Mayo and Nick Auer] are very knowledgeable in IFRS and did a very good job of making an often difficult and complicated subject understandable.

Gideon Ewoh, Finance Manager, Total (E & P) Nigeria CPFA Limited

The IASeminars IFRS program is excellent with experienced instructors. I found the program to be very insightful.

Prosper Kwasi Ahiakonu, Principal Accountant
Ghana National Petroleum Corporation

High quality standard course, very knowledgeable instructors. Customer Service was excellent.

Fahad Al Jadidi, Senior Accountant
Oman Telecommunication Company

The course was very good and a bit refreshing. It was full of information, updates, practical examples, and explanations from the excellent instructors. Thank you IASeminars for the great learning experience.

Janice Lagazo, Accountant
Petroserve Holding B.V., Monaco

CPE / CPD Accreditation

NASBA

IASeminars is registered with the 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.nasbaregistry.org. 


Field of study: Accounting

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 145,000 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.

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 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)

  • Bill Kemp

    Bill Kemp (UK) is 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.

    Robert Moulin

    Robert Moulin has been designing and presenting IFRS training courses for over 18 years. His accounting career began in professional practice, followed by a move into industry and senior management positions within global f.m.c.g. companies. An experienced facilitator, Robert has built his reputation by having a detailed understanding of the technical aspects of the accounting standards, combined with effective communication and a desire to assist preparers and users at all levels of the organisation. As well as delivering training and advice to businesses he also assists accounting students as they seek to complete their professional studies. His work often takes him overseas with recent assignments in Malaysia, India, Jamaica  and Myanmar amongst others. Upcoming projects include presenting to Chinese insurers on the impending changes within IFRS 17 Insurance Contracts. Also a trained journalist, Robert has previously worked for the B.B.C. on their finance programmes. He is a fellow of the Association of Chartered Certified Accountants.

    Saket Modi

    Saket Modi is an international financial trainer and consultant based out of London. He specializes in training courses on advanced accounting, financial reporting and financial analysis topics, particularly with regards to International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and financial instruments. He has facilitated courses for preparers and users of financial statements from over 50 countries in Europe, Africa, Middle East, Asia and the Caribbean. Saket has spent considerable time working, advising and training on complex matters relating to IFRS, including recognition and measurement of financial instruments and technical updates. He has designed learning materials and facilitated courses for organizations in different sectors including financial institutions, oil and gas companies, governments, professional services firms, accountancy bodies and educational institutions. He has written material on IFRS Accounting for Financial Instruments for the Institute of Chartered Accountants in England and Wales (ICAEW) and was invited by the International Auditing and Assurance Standards Board® (IAASB®) to present a paper on IFRS 9 Financial Instruments at their board meeting in New York. Saket has gained valuable experience working with FTSE listed companies and also with major accounting firms. He is a member of the Institute of Chartered Accountants of India, holds IFRS certificate from the ICAEW and IPSAS Diploma from the Chartered Institute of Public Finance and Accountancy (CIPFA). In addition to being a qualified accountant, Saket is also a CFA® charterholder.

    Nick Auer

    Nick Auer is a qualified accountant and a learning and development practitioner with 20 years’ experience in the public and private sectors. He designs and delivers bespoke training programmes and has significant experience in financial reporting, financial management, commercial awareness, value for money and performance improvement. Nick works with clients to implement training strategies, analyse training needs and evaluate training. Nick has designed and delivered many financial reporting programmes including a variety of open and client specific IFRS, IPSAS, UK GAAP and US GAAP courses. These range from basic to advanced and look at areas like Property Plant & Equipment, Intangible Assets, Employee Benefits, Leases, Financial Instruments, Provisions, Revenue Recognition, Business Combinations and Group Accounting. Nick also delivers a whole range of other financial and soft skills training including business partnering, budgeting, in-year management, cost control, investment appraisal, procurement and contract management. Nick’s work on Business Partnering includes helping delegates to get a better understanding of personality preferences, improving influencing skills, presentation skills, leadership and improving the effectiveness of teams so that clients end up making better business decisions. Nick also trains clients on improving their consulting skills. Nick has done a lot of work in UK public sector including the Ministry of Defence, Health Trusts e.g. Guy’s and St Thomas’s Hospital, Local Authorities, the Home Office and the UK Border Agency. He has also worked with Clients across many sectors in the private sector. Nick is the Finance Director of a small UK consultancy.

  • Tariq Zia

    Tariq Zia is a US CPA specializing in Oil & Gas accounting issues under both IFRS & US GAAP. He has worked in both Texas and in Saudi Arabia for several of the 'Big Four' accounting firms over the past 14 years, servicing multinational corporations in the Oil & Gas and other industries. Tariq was for example a designated subject matter expert for the Oil & Gas sector at KPMG in Saudi Arabia, where he worked on multinational clients. Tariq has extensive experience in teaching accounting courses, including at Deloitte & Touche where he was a National Instructor delivering courses to various levels of staff and management on topics such as Introduction to US GAAP & GAAS, and convergence of IFRS with US GAAP. His work experience includes audits of SEC registrants and private clients from the Oil & Gas, Manufacturing, Retail and Service sectors under both US GAAP and IFRS; Sarbanes-Oxley compliance related work; and advisory work in the area of GAAP convergence. Tariq currently serves as senior advisor to a large multinational chemical manufacturer, which involves complex accounting issues and transactions under both US GAAP and IFRS.

    Alan Mayo

    Alan Mayo is a UK chartered accountant and highly experienced instructor in the field of international financial reporting, with a particular professional interest in IFRS for oil and gas companies, IPSAS financial management for the public sector and financial statements analysis. Alan has delivered oil and gas in-house programmes for such organisations as ENI, Gazprom, the Nigerian Petroleum Development Company and National Oil Corporation of Kenya. His recent in-house IPSAS clients include UNICEF, ECOWAS and The International Centre for Genetic Engineering and Biotechnology. Alan began his professional career as an auditor with PwC before co-founding their client training business in the UK. During this time he worked on the privatisation of British Gas, taught financial reporting and financial controllership programmes for Shell and managed a team providing training and change management support to UK public sector entities as they transitioned from cash to accruals based accounting, including the Foreign and Commonwealth Office and the Ministry of Defence. On leaving PwC, after nearly 20 years, he set up his own financial training business, which focuses on supporting local authority staff in all aspect of financial management. Alan is a member of the ICAEW Financial Reporting and Business and Management Faculties and the Institute of Internal Auditors.

    Instructor TBC

    The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

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

12 Jun 2019 London

Course level:
Overview
CPE / CPD:
64 hours
Start date:
12 Jun 2019
Start time:
09:00
Finish date:
21 Jun 2019
Finish time:
18:00
Location:
London
Price:
GBP 6,400
Subject to UK VAT (Read more)

17 Nov 2019 Dubai

Course level:
Overview
CPE / CPD:
64 hours
Start date:
17 Nov 2019
Start time:
09:00
Finish date:
26 Nov 2019
Finish time:
18:00
Location:
Dubai
Price:
GBP 6,400
Subject to No Tax (Read more)
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