IFRS Reporting Rules Explained

IFRS Reporting Rules Explained

Course Description

1. IFRS Reporting Rules Explained (General application)
International Financial Reporting Standards (IFRS) are the most globally accepted accounting standards, with over 120 countries now applying IFRS. The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have made a specific commitment to converge their accounting standards.
IFRSs continue to develop rapidly as a result of both the convergence agenda with US GAAP and the need to address new topics.
This wide ranging three-day overview is designed to guide participants step-by-step through important IFRS technical issues, including the IASB’s most recent pronouncements. Our specialist instructor will explain the principles clearly and simply and provide real-world examples, including an overview of the requirements for first time adoption of IFRS and the practicalities of implementing IFRSs.

2. IFRS Reporting Rules Explained (Company Specific)
This three-day course provides a rigorous and detailed overview of all major technical IFRS requirements, and includes illustrative financial statements, case studies, examples, coverage of the most significant IFRSs, and interactive participation from the delegates. This program is tailored as IN-company Training only answers questions purely related to the company’s IFRS needs.
Company benefits includes applying the new specialised and specific standards on revenue, leases and financial instruments.
For more details on this bespoke course please contact us  admin@icc-edu.nl 

For Whom
  • Financial Directors
  • Financial Controllers
  • Tax Managers
  • Senior Accounting Personnel
Learning Objectives

Upon completion of this crash course, the participant will be able to:

    • Understand and apply IFRS requirements, including accounting policies and disclosures
    • Appreciate the major technical differences between US GAAP and IFRS requirements
    • Evaluate the impact of these differences through the use of real­world and model financial statements

Understand the requirements and options relating to first­time adoption of IFRSs

  • Implement the IFRS recognition and measurement rules for assets, liabilities, income, and expenses
  • Comply with IFRS ‘fair value’ measurement requirements
  • Apply the most recent new and revised IFRS standards
  • Increase planning opportunities through awareness of likely future IFRS changes, including prospects for convergence with US GAAP and other major national accounting standards
Topical Outline

SESSION ONE (introduction)
Introduction to International financial Reporting standards IFRS
General Accepted Accounting standards Practice (GAAP)
And International Accounting Standards Board (IASB)
IFRS / GAAP Differences & Accounting Policies

SESSION TWO (single entities)
Presentations of financial statements (IAS 1)
Interim Financial reporting (IAS 34)
Accounting for non-Current assets (IAS 16, 20, 23, 36 & 40)
Revenue & Inventories (IFRS 15 Contracts & Customers)
Statement of Cash Flows (IAS7)

SESSION THREE (group financial statements & specialised standards)
Financial instruments presentation & disclosures (IAS 32 & IFRS 7)
Taxation (IAS 17)
Consolidated statements (Profit /Loss IFRS 3 & 10) cash flows
Joint arrangements & associations (IAS 28 & IFRS 11)
Foreign Currency translation (IAS 21 & 29)

 

Summary

Type of Course: Crash Course

Number of Sessions: THREE sessions (4 hours each)

Language: English

Course Materials: ICC / BPP Course Reader

Certificate: Professional Development Certificate

Fees: EUR 1,975.- per participant