Advanced International Financial Reporting Standards IFRS

Introduction:

International Financial Reporting Standards (IFRS) provide a globally recognized framework for financial reporting, ensuring consistency, transparency, and comparability of financial statements across industries and jurisdictions. Advanced IFRS applications go beyond fundamental principles, addressing complex financial transactions, consolidation, revenue recognition, financial instruments, and fair value measurement. This training program provides a comprehensive exploration of advanced IFRS concepts, focusing on complex financial reporting challenges faced by professionals. It enhances participants' expertise in financial instruments, revenue recognition, lease accounting, business combinations, fair value measurement, and other critical IFRS topics. 

Program Objectives:

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

• Explore the IFRS framework and its role in financial reporting.

• Assess the accounting treatment of financial instruments, leases, and business combinations.

• Interpret revenue recognition principles and their impact on financial statements.

• Analyze fair value measurement techniques and impairment models.

• Evaluate recent IFRS updates and their effect on financial reporting practices.

Target Audience:

• Senior Financial Accountants.

• Financial Reporting Managers.

• Auditors and Compliance Officers.

• CFOs and Finance Directors.

• Finance Professionals engaged in complex financial reporting.

Program Outline:

Unit 1:

IFRS Framework and Conceptual Principles:

• IFRS conceptual framework.

• Financial reporting objectives.

• Qualitative characteristics of financial information.

• Regulatory and compliance requirements.

• Financial statement presentation principles.

Unit 2:

Financial Instruments Accounting (IFRS 9):

• Classification of financial assets and liabilities.

• Measurement requirements for financial instruments.

• Expected credit loss framework.

• Hedge accounting principles.

• Financial instrument disclosure requirements.

Unit 3:

Revenue Recognition and Contract Accounting (IFRS 15):

• Revenue recognition principles.

• Performance obligation requirements.

• Contract consideration allocation.

• Contract modification requirements.

• Revenue disclosure obligations.

Unit 4:

Lease Accounting (IFRS 16):

• Lease recognition principles.

• Right-of-use asset requirements.

• Lease liability measurement.

• Lease classification considerations.

• Lease disclosure requirements.

Unit 5:

Business Combinations and Consolidation (IFRS 3 & IFRS 10):

• Business combination principles.

• Goodwill recognition requirements.

• Consolidation principles.

• Non-controlling interest considerations.

• Group financial reporting requirements.

Unit 6:

Fair Value Measurement and Disclosures (IFRS 13):

• Fair value measurement principles.

• Fair value hierarchy.

• Valuation approaches.

• Market participant assumptions.

• Fair value disclosure requirements.

Unit 7:

Impairment of Assets and Recoverability (IAS 36):

• Asset impairment principles.

• Recoverable amount determination.

• Cash-generating unit requirements.

• Goodwill impairment considerations.

• Impairment disclosure requirements.

Unit 8:

Employee Benefits and Provisions (IAS 19 & IAS 37):

• Employee benefit classifications.

• Post-employment benefit obligations.

• Provision recognition criteria.

• Contingent liabilities and contingent assets.

• Provision disclosure requirements.

Unit 9:

Income Taxes and Deferred Tax Accounting (IAS 12):

• Current and deferred tax principles.

• Temporary difference classifications.

• Deferred tax recognition requirements.

• Tax reporting considerations.

• Income tax disclosure requirements.

Unit 10:

IFRS Governance and Emerging Developments:

• International standard-setting developments.

• Financial reporting governance.

• Digital financial reporting initiatives.

• Sustainability and ESG reporting considerations.

• Global convergence of accounting standards.