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IFRS Masterclass (10 days)

Course Details

Code:1002
Level
Overview
CPD
70 Hours
Time
08:00-14:45
Location
Dubai
Cost
£7,950.00
Please note that this course is more than six months in the future.
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Introduction

We have been offering 8-day Immersion Workshop courses on IFRS and IPSAS for 12 years. Recently however, attendees have told us that they would like more time to study the many topics and discuss issues with their instructors and fellow attendees. 

In response we are pleased to offer our IFRS Masterclass, a 10-day course with shorter working days, designed to provide attendees with a more enjoyable and comfortable learning experience. And all with the added bonus of extra free time to enjoy the venue city!

This course answers questions such as:

  • What are the requirements for presenting IFRS financial statements and 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 comprehensive study packing includes:

  • Ten days of full tuition by senior instructors
  • Chromebook with course materials provided on USB
  • Full set of hard copy course materials, including case studies, illustrations and examples
  • 24-hour ticket for a local sightseeing bus tour
  • Lunch and refreshments on teaching days
  • Farewell dinner and group photographs
  • Ongoing, independent study – after the Masterclass we provide you with entry the ICAEW’s Learning and Assessment Programme (12 months access to materials plus entry to online assessment). 

About the training:

This unique multi-instructor ten-day course provides in-depth instruction on all significant requirements of International Financial Reporting Standards (IFRSs). It includes coverage of Standards and Interpretations, hands-on case studies, examples, exercises and quizzes. The Masterclass provides participants with the tools to apply IFRSs and prepare IFRS-compliant financial statements. The program focusses on current requirements, but participants are also brought up-to-date with upcoming changes to Standards and Interpretations.

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

Presented by 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.
  • Chromebook for use during and after the course.
  • City tour and  farewell dinner.
  • Access after the course to the ICAEW’s Learning and Assessment Programme.

Topics

  • Introductionto IFRSs
    • Standard Setting and Due Process
    • IASB’s Conceptual Framework
    • Fair value measurement (IFRS 13)
  • Presentation and Disclosure in 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)
    • Discontinue doperations (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)
    • Employee benefits (IAS 19)
    • Provisions, contingent liabilities and contingent assets (IAS 37)
    • Share-based payment (IFRS 2)
  • Financial Instruments
    • Presentation (IAS 32)
    • Recognition and measurement (IFRS 9 and IAS 39)
    • Disclosure (IFRS 7)
  • Income Taxes
    • Income taxes (IAS 12, IFRIC 23)
  • Revenue Recognition
    • Revenue from Contracts with Customers (IFRS 15)
  • Foreign Currency
    • 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 (IAS 20)
    • Financial reporting in hyperinflationary economies (IAS 29)
    • Agriculture (IAS 41)
  • Transitioning to IFRSs
    • First-time adoption of IFRSs (IFRS 1)
  • Expected Future Developments
    • IASB Work Plan

Teaching Method

  • The Masterclass will consist of ten days of instruction and participation, separated by a weekend break. Note the working week in the following locations:
    • Europe & USA: Monday-Friday
    • UAE: Sunday-Thursday.
  • Group live instruction in a workshop format, using cases, examples, group work, open discussions etc.
  • Review of the rationale and objective of IASB Standards and Interpretations.
  • 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.

Prerequisites

Understanding of accounting principles in the private or public sector. No other advance preparation is required for this course.