IFRS (International Financial Reporting Standards) Certification Course

Why Select this Training Course?

In today’s globalised business environment, proficiency in IFRS is not merely an advantage – it’s a necessity for finance professionals. The IFRS Certification Course extends beyond the basics to offer in-depth training and knowledge, positioning you at the forefront of international accounting standards. The curriculum is immersive, with each module crafted to augment your understanding and application of IFRS in a variety of practical contexts. This course is your portal to becoming a globally-acknowledged professional, adept at navigating the complexities of financial reporting across borders.

Will I be able to apply IFRS knowledge in practical scenarios?

Yes, our course includes real-world case studies and scenarios that facilitate the practical application of IFRS knowledge.

What updates or changes to the IFRS will the course cover?

We constantly update our curriculum to reflect the latest changes and updates in IFRS, ensuring you receive the most current and relevant information.

Who Should Attend?

This course is beneficial for:

• Accountants and Auditors
• Finance Managers and Controllers
• Financial Analysts
• Corporate and Financial Reporting Staff
• IFRS Implementation and Compliance Teams
• Consultants and Practitioners in Financial Services
• Professionals involved in preparing financial statements

What are the Course Objectives?

Participants will:

• Attain comprehensive knowledge of IFRS standards and their application.
• Be able to prepare financial statements in compliance with IFRS.
• Understand the implications of IFRS on financial reporting and analysis.
• Stay updated with the latest IFRS amendments and interpretations.
• Gain proficiency in the transition process from local GAAP to IFRS.

How will this course be presented?

The course methodology encompasses:

• Detailed explanatory sessions focusing on core IFRS principles.
• Interactive case studies and group exercises for practical application.
• Workshops to discuss and address transition and implementation challenges.
• Online resources for extended learning and reference.
• Assessment is done through quizzes and final certification exam.

What are the Topics Covered in this Course?

Module 1: Overview of IFRS Framework and Standards

• Understanding the conceptual framework of IFRS.
• Exploring the structure of the IASB and its approach to setting standards.
• Guidelines for transitioning to IFRS and its adoption process.
• Presentation principles for financial statements.
• Accounting standards, alterations in accounting methods, and handling accounting errors.

Module 2: Financial Position Statement and Income Statement

• Analysis of property, plant, and equipment.
• Treatment of investment property.
• Evaluation of intangible assets.
• Assessment of asset impairment.
• Guidelines for revenue recognition.

Module 3: Group Accounting and Disclosures

• Understanding business combinations.
• Creating consolidated financial statements.
• Exploring investments in business associates and partnerships.
• Transparent disclosure of interests in other entities.
• Valuing assets at fair market value.
• Handling share-based payments.
• Managing non-current assets held for sale and discontinued operations.
• Identifying operating segments.
• Reporting events after the reporting period.
• Disclosing related party transactions.

Module 4: Financial Instruments and Foreign Exchange

• Financial instruments: recognition and measurement.
• Presentation of financial instruments.
• Hedging and derivatives.
• Foreign currency transactions and operations.

Module 5: Employee Benefits and Share-Based Payments

• Evaluating the measurement of share-based payments.
• Analysing post-employment benefits.
• Managing short-term and long-term employee benefits.
• Comparing equity and cash-settled transactions.
• Handling termination benefits.
• Addressing modifications, cancellations, and settlements.

Module 6: Liabilities and Provisions

• Provisions, contingent liabilities, and contingent assets.
• Income taxes.
• Liabilities and equity.

Module 7: Other Comprehensive Income and Equity

• Understanding items not reclassified to profit or loss.
• Analysing tax implications of other comprehensive income.
• Managing items reclassified to profit or loss.
• Reporting non-controlling interests.
• Treating dividends and changes in shareholders’ equity.
• Tracking accumulated other comprehensive income.

Module 8: Consolidation, Joint Arrangements, and Associates

• Applying principles of consolidation.
• Addressing joint arrangements and operational agreements.
• Utilising the equity method for associates.
• Managing transactions with non-controlling interests.

Module 9: Specialised IFRS Topics

• Exploring exploration and evaluation of mineral resources.
• Understanding insurance contracts.
• Analysing emission trading schemes.
• Managing service concession arrangements.
• Handling regulatory deferral accounts.
• Addressing agriculture and related activities.
• Reporting interim financial results.
• Understanding the effects of changes in foreign exchange rates.
• Handling non-current assets held for sale.
• Managing contributions from owners.

Module 10: Practical Implications of IFRS

• Implementation challenges in the application of IFRS.
• Key differences and comparisons.
• Practical implications for IFRS on tax reporting and strategy.
• Impact of IFRS on financial systems and IT.
• Effect of IFRS adoption on business valuation.
• Investor relations and communication strategies under IFRS.
• Managing operational and reputation risks associated with IFRS transition.
• Industry-specific IFRS considerations and best practices.
• IFRS and corporate governance.
• Future outlook and updates on upcoming IFRS changes.

Module 11: IFRS and Corporate Governance

• The relationship between IFRS and corporate governance.
• Transparency and disclosure requirements.
• The role of the audit committee in financial reporting.
• Ethical considerations and professional judgement in applying IFRS.
• Corporate social responsibility reporting under IFRS.

Module 12: IFRS for Financial Instruments

• Addressing the de-recognition of financial instruments.
• Classifying and measuring financial assets and liabilities.
• Managing impairment of financial assets.
• Disclosing financial instruments.
• Applying hedge accounting principles.

Module 13: IFRS for Leasing

• Identifying a lease under IFRS 16.
• Lease classification: finance vs operating leases.
• Measurement of lease liabilities and right-of-use assets.
• Lease modifications and reassessment.
• Sale and leaseback transactions.
• Disclosures under IFRS

Module 14: Advanced Topics in Revenue Recognition

• Contracts with customers.
• Performance obligations and timing of revenue recognition.
• Variable consideration and constraints on estimates.
• License and rights to goods and services.
• Principal vs agent considerations.
• Revenue recognition in complex transactions.
• Practical expedients and transition reliefs available.

Module 15: IFRS and Digital Transformation

• Digital reporting and the use of XBRL (eXtensible Business Reporting Language).
• The effect of emerging technologies on financial reporting.
• Big data and analytics for enhanced IFRS disclosure.
• Cybersecurity considerations in financial reporting.
• Trends in automating IFRS reporting processes.

Module 16: Taxation Under IFRS

• Recognition and measurement of deferred taxes.
• Tax base of assets and liabilities.
• Current and deferred tax effects of transactions.
• Tax uncertainties and disclosures.
• Tax implications of business combinations and consolidations.