International Financial Reporting Standards (ifrs) Training

INTRODUCTION

A thorough understanding of International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) is essential for financial professionals to leverage for efficacy. This exhaustive training course is designed to provide you with a deep dive into the frameworks and principles of IAS and IFRS, equipping you with the knowledge to ensure compliance and excellence in financial reporting. You will gain a clear understanding of global accounting standards, enabling you to enhance your financial reporting skills and align your practices with international benchmarks. The course will cover a wide range of standards, focusing on the recognition, measurement, and disclosure requirements of IFRS and IAS.

Course Objectives

By the end of this course, participants will be able to:

• Understand the role and importance of financial reporting in a global context
• Comprehend the structure and components of financial statements
• Identify criteria for the recognition of assets and liabilities
• Grasp the concepts of accrual basis accounting
• Recognize principles of capital and capital maintenance
• Apply recognition, measurement, and disclosure requirements of various IFRS and IAS standards

Duration

5 Days

Who Should Attend

This course is ideal for financial directors, financial managers, procurement directors, administrators, procurement managers, budget accountants, auditors, credit controllers, and chief accountants who are responsible for financial reporting and compliance.

Course Outline

Introduction

• IFRS Conceptual Framework and Associated Bodies
  • IAS 1: Presentation of Financial Statements
  • IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors

Income Standards

• IAS 18: Revenue
• IAS 11: Construction Contracts

Asset Standards

• IAS 2: Inventories
• IAS 16: Property, Plant and Equipment
• IAS 20: Government Grants
• IAS 23: Borrowing Costs
• IAS 17: Leases
• IAS 38: Intangible Assets
• IAS 40: Investment Property
• IAS 41: Agriculture
• IAS 36: Impairment of Assets
• IFRS 6: Exploration for and Evaluation of Mineral Resources

Liabilities Standards

• IAS 37: Provisions, Contingent Liabilities and Contingent Assets
• IAS 19: Employee Benefits
• IFRS 2: Share-based Payment
• IAS 12: Income Taxes
• IAS 32: Financial Instruments: Presentation
• IAS 39 and IFRS 7: Financial Instruments: Recognition and Measurement
• IFRS 9: Financial Instruments

Other Standards

• IAS 21: The Effects of Changes in Foreign Exchange Rates
• IFRS 3: Business Combinations
• IFRS 11: Joint Arrangements
• IFRS 12: Disclosure of Interests in Other Entities
• IFRS 13: Fair Value Measurement

Disclosure Standards

• IAS 33: Earnings per Share
• IFRS 8: Operating Segments
• IFRS 5: Non-current Assets Held for Sale and Discontinued Operations
• IAS 10: Events After the Reporting Period
• IAS 24: Related Party Disclosures
• IAS 34: Interim Financial Reporting
• IFRS 1: First-time Adoption of International Financial Reporting Standards

General Notes

• The course is delivered by experienced trainers with extensive expertise in the field.
• Training includes a mix of practical activities, theoretical knowledge, group work, and case studies.
• Participants receive comprehensive training manuals and additional reference materials.
• A certificate is awarded upon successful course completion.
• Custom-tailored courses to meet specific organizational needs are available. Contact us at training@skillsforafrica.org for more information.
• The training will be conducted at the Skills for Africa Training Institute in Nairobi, Kenya.
• The training fee covers tuition, materials, lunch, and the training venue. Accommodation and airport transfer can be arranged upon request.
• Payment should be made to our bank account before the training starts, and proof of payment sent to: training@skillsforafrica.org