International Financial Reporting Standards (IFRS) Workshop
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- International Financial Reporting Standards (IFRS) provide a global framework for financial reporting, ensuring transparency, accountability, and efficiency in financial statements. This workshop offers an in-depth understanding of IFRS principles, key standards, and their impact on financial statements. Participants will gain practical insights into applying IFRS in real-world scenarios and staying compliant with international financial regulations.
Objectives
By the end of this course, participants will be able to:
- Understand the structure and principles of IFRS.
- Apply key IFRS standards in financial reporting and analysis.
- Recognize the impact of IFRS on financial statements and business performance.
- Stay updated on the latest IFRS developments and regulatory requirements.
- Develop skills to transition from local GAAP to IFRS.
Who Should Attend?
- Financial professionals and accountants
- Auditors and compliance officers
- CFOs and financial controllers
- Business analysts and consultants
- Anyone involved in financial reporting and regulatory compliance
Course Outline
Day 1: Introduction to IFRS and Regulatory Framework
- Overview of IFRS and its global significance
- IFRS vs. local GAAP: Key differences
- IFRS standard-setting process and regulatory framework
Day 2: Financial Statement Presentation & Recognition Principles
- IFRS conceptual framework
- IFRS 1: First-time adoption of IFRS
- IAS 1: Presentation of financial statements
Day 3: Revenue Recognition and Financial Instruments
- IFRS 15: Revenue from contracts with customers
- IFRS 9: Financial instruments – classification, measurement, and impairment
Day 4: Asset and Liability Accounting
- IAS 16: Property, plant, and equipment
- IAS 38: Intangible assets
- IFRS 16: Leases
Day 5: Group Accounting and Consolidation
- IFRS 10: Consolidated financial statements
- IFRS 11: Joint arrangements
- IFRS 12: Disclosure of interests in other entities
Day 6: Employee Benefits and Share-Based Payments
- IAS 19: Employee benefits
- IFRS 2: Share-based payments
- Case studies on employee benefit reporting
Day 7: Income Tax, Provisions, and Contingent Liabilities
- IAS 12: Income taxes – current and deferred tax concepts
- IAS 37: Provisions, contingent liabilities, and contingent assets
Day 8: IFRS for SMEs and Industry-Specific Standards
- IFRS for SMEs: Simplified reporting framework
- Industry-specific standards: Banking, insurance, and real estate
Day 9: Recent IFRS Updates and Practical Applications
- Latest amendments and future changes in IFRS
- Transition strategies and implementation challenges
Day 10: Case Studies and IFRS Compliance Audit
- Practical case studies and IFRS application in real-world scenarios
- IFRS compliance audit process
- Final assessment and certification