IFRS - International Financial Reporting Standards

Finance

Objectives:

- Describe the setting process in IFRS and list the currently available standards
- Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization
- Determine the correct presentation and minimum disclosure for components of statements of financial position, statements of comprehensive income, statements of owners' equity and statements of cash flows in accordance with IFRS
- Appraise and properly account for transactions affecting current assets and liabilities, non current assets and liabilities, revenues and expenses in accordance with IFRS
- Apply professional judgment in applying IFRS for matters relating to non recurrent business transactions

Outline:

Module 1: Introduction to IFRS and presentation of financial statements
Module 2: IFRS rules for current assets and liabilities
Module 3: IFRS rules for non-current assets and liabilities
Module 4: IFRS rules for non-current assets and liabilities
Module 5: Investment securities (IFRS 9)
Module 6: Revenue from contracts with customers (IFRS 15)
Module 7: IFRS 16, Leases
Module 8: Wrap-up on newest standards and list of current and prior years' updates on IFRSs

Methodology:

The course uses a mix of interactive techniques, such as brief presentations by the consultant, application of theories presented by the consultant and group exercises to exchange experience and apply knowledge acquired throughout the course