IFRS Update and Application Briefing (2 days)

Introduction

We are managing our face to face IFRS course schedule carefully right now. If the training course you want is not available, we may be offering a virtual alternative! View our Virtual Classroom schedule to see what is being delivered live in our online classrooms.

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This two-day IFRS Update and Application Briefing is designed for experienced preparers and users of IFRS financial statements. Its aims are to:

• Update on published changes to IFRSs applicable for 2022 and later
• Chart progress on significant projects in the IASB’s work plan
• Review the practical application of key Standards in recent IFRS financial statements, including, where relevant, the impact of Covid-19

Please note that, given the specialised nature and complexity of IFRS 17 Insurance Contracts, this program does not cover it. For those with a particular interest in insurance, we recommend our three-day program, Course 1331 Insurance Contract Accounting Workshop.

Learning Objectives

• Implement upcoming changes to IFRSs 
• Learn from recent real-world examples of best practice in IFRS reporting
• Improve the quality of disclosures in IFRS financial statements
• Plan ahead for future changes

Who Should Attend

• Accountants in finance and reporting teams that prepare IFRS financial statements
• External and internal auditors
• Financial and credit analysts who review financial statements

Topics

• Practical application of key Standards in recent IFRS financial statements, including
  • Going concern assessment and material uncertainties
  • Disclosure of significant judgements and critical accounting estimates
  • Presentation (IAS 1)
  • Impairment of non-financial assets (IAS 36)
  • Leases (IFRS 16)
  • Financial instruments (IFRS 9)
  • Revenue from contracts with customers (IFRS 15)
• Amendments to Standards for 2022 and later
• Projects on IASB’s work plan - Exposure Drafts and Discussion Papers, including
  • Primary Financial Statements (IAS 1) – ED/2019/7
  • Disclosure Initiative 

Teaching Method

• Group live instruction, cases, examples, group work, open discussions
• Description and explanation of changes in IFRSs, including implementation requirements and transitional rules
• Use of illustrative IFRS financial statements and worked examples
• Interactive participation is encouraged
• All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Instructors

Venue

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

A reasonable prior knowledge of the technical requirements of IFRSs. No advance preparation is required for this course.