OBJECTIVES

This four-day seminar has been designed to provide participants with comprehensive knowledge needed to understand the overall considerations that are applied in the presentation of financial statements. It considers the various recognition and measurement principles under the different classes of assets and liabilities. It considers the fundamental disclosures and considerations that underpin financial statement preparation and provides participants with insight into first-time adoption issues and future developments. By the end of the course the participants will be able to:

 

• Prepare financial statements for single companies in compliance with the standards covered on the programme 

• Prepare financial statements for groups in compliance with the standards covered 

• Prepare financial statements incorporating many aspects of financial instrument accounting 

• The course objectives will be met by a combination of lectured sessions covering the key points of the relevant standards, with the aid of questions, cases, and exercises. 

 

 

TARGET AUDIENCE

This course is for Accountants, Bankers, Portfolio Managers, Securities Analysts, Pension Fund Managers, internal auditors, regulators, and Financial Analysts, but is also appropriate for a broader audience who wish to gain an in-depth understanding of International Financial Reporting Standards, the conceptual framework and how these are being used globally. The course assumes a basic understanding of IFRS. Participants are encouraged to attend Course EC1: IFRS for Beginners ahead of this course.

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Program Level - Intermediate

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Delivery Method - Live Group

 

 

COURSE BENEFITS

• Apply the requirements of the standards to prepare IFRS compliant financial statements

• Determine appropriate accounting policies and identify the different procedures for preparation of first full IFRS compliant financial statements

• Explain how the recognition and measurement principles of the IASB’s Framework apply to each standard.

• Explain fair value accounting and identify where the fair value changes are recognized

• Apply the requirements of the standards to complex accounting issues

• List the IFRS requirements for recognition and measurement of the different classes of assets, liabilities, revenues, expenses, gains, and losses

• List the procedures that an entity must follow when it adopts IFRSs for the first time as the basis for preparing its general purpose financial statements.

• List and comply with IFRS disclosure and presentation requirements

• Select accounting policies based on IFRSs