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IFRS Immersion Workshop (8 days)

Course Details

Code:1000
Level
Overview
CPD
64 Hours
Time
09:00-18:00
Location
London
Cost
£6,800.00
Subject to UK VAT 20% (Read more)
Please note that this course is more than six months in the future.
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Introduction

This face to face IFRS course may also be available as a virtual, online training! View the details of our Virtual Classroom schedule to see what else is being delivered live in our online classrooms.

This 8-day multi-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 quizzes. The Immersion Workshop provides participants with the tools to apply IFRSs and prepare IFRS-compliant financial statements. The program focusses on current requirements, but also updates participants on planned changes to IFRSs.

This course answers questions such as:

  • What are the requirements for presenting IFRS financial statements and drafting related disclosures?
  • How can the recognition and measurement requirements be applied in practice?
  • What are the requirements for transitioning to IFRSs?
  • How can we plan for, and implement, upcoming changes in IFRSs?

The registration fee provides:

  • 8 days of tuition by senior instructors.
  • iPad Mini for viewing course materials and research after the course.
  • Electronic course materials. including case studies, illustrations and examples.
  • 48 hour ticket for the London Hop On-Hop Off bus tour and river cruise.
  • Lunch and refreshments on every teaching day.
  • Farewell dinner and class photographs.

This course is ideal for individuals at all levels within an organisation who need to acquire or refresh detailed knowledge of IFRSs. It is aimed at those responsible for making accounting judgements and preparing, reviewing or approving IFRS financial statements. The program does not focus on any single industry but deals with issues in a range of sectors.

Presented by two experienced IFRS instructors, this program gives participants the benefit of decades of IFRS experience. 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.

Learning Objectives

  • Prepare IFRS-compliant financial statements
  • Learn IFRS presentation and disclosure requirements
  • Implement IFRS recognition and measurement rules for assets, liabilities, revenues and expenses
  • Develop a plan for transitioning to IFRSs
  • Identify impact of upcoming changes in IFRSs
  • Network and share experience with participants from across the world

Who Should Attend

  • Accountants in finance and reporting teams that prepare IFRS financial statements
  • External and internal auditors
  • Financial and credit analysts seeking to improve their understanding of IFRS financial statements
  • Accounting regulators and compliance and enforcement bodies

Topics

  • Introduction to IFRSs
    • Standard-setting bodies and due process
    • Conceptual Framework
    • Fair value measurement (IFRS 13)
  • Presentation and Disclosure in 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)
  • Non-financial 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 (IFRS 16)
    • Provisions, contingent liabilities and contingent assets (IAS 37)
    • Employee benefits (IAS 19)
    • Share-based payment (IFRS 2)
  • Financial Instruments
    • Presentation (IAS 32)
    • Recognition and measurement (IFRS 9)
    • Disclosures (IFRS 7)
  • Income Taxes
    • Income taxes (IAS 12, IFRIC 23)
  • Revenue Recognition
    • Revenue from contracts with customers (IFRS 15)
  • Foreign Currencies
    • 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 Specialised 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

Teaching Method

  • The workshop runs from Monday – Thursday over two weeks (8 days in total)
  • Group live instruction in a workshop format, using cases, examples, group work, discussions
  • Review of the rationale and objectives for IASB standards
  • Clear description and explanation of IFRS requirements
  • Quizzes to reinforce knowledge
  • All participants receive hard and soft copies of the presentation slides, handouts and other course materials

Instructors

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.

Venue

Our 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.

CPE/CPD Accreditation

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

Prerequisites

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

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