Advanced International Financial Reporting Standards IFRS

Overview:

Introduction:

Advanced International Financial Reporting Standards (IFRS) refer to the complex principles and frameworks governing financial reporting on a global scale, ensuring consistency, transparency, and comparability of financial statements across jurisdictions. This training program provides a deep knowledge on advanced IFRS topics, focusing on complex accounting treatments, financial reporting challenges, and the latest developments in IFRS regulations. Participants will gain the expertise needed to perform IFRS effectively in complex business scenarios and align financial reporting with international standards.

Program Objectives:

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

• Analyze the key principles and frameworks of IFRS in advanced financial reporting.

• Use IFRS standards to complex financial instruments, revenue recognition, and lease accounting.

• Evaluate business combinations, consolidations, and impairment assessments under IFRS.

• Conduct fair value measurement, employee benefits accounting, and provisions.

• Assess the impact of recent IFRS updates and prepare for future regulatory changes.

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:

Advanced IFRS Framework and Financial Instruments:

• Overview of IFRS conceptual framework.

• Advanced principles of IFRS and key differences from local GAAP.

• Key activities involved in the classification, measurement, and impairment of financial instruments (IFRS 9).

• Hedge accounting and its impact on financial statements.

• Disclosure requirements for financial instruments.

• Challenges and solutions in applying IFRS 9.

Unit 2:

Revenue Recognition and Lease Accounting:

• Advanced revenue recognition principles under IFRS 15.

• Tools for identifying and measuring contract performance obligations.

• Timing of revenue recognition and financial statement impact.

• Lessee and lessor accounting under IFRS 16.

• Measurement and disclosure of lease liabilities and right-of-use assets.

• Challenges in implementing IFRS 15 and IFRS 16.

Unit 3:

Business Combinations and Consolidations:

• IFRS 3 principles for business combinations and acquisition accounting.

• Recognition and measurement techniques of goodwill and related costs.

• IFRS 10 consolidation framework and complex group structures.

• Accounting for changes in ownership and partial disposals.

• Non-controlling interests and equity method considerations.

• Advanced consolidation adjustments and intercompany transactions.

Unit 4:

Fair Value Measurement and Asset Impairment:

• IFRS 13 fair value measurement principles and valuation techniques.

• How to determine fair value in complex financial reporting scenarios.

• IAS 36 impairment testing measures for tangible and intangible assets.

• Goodwill impairment and its financial impact.

• Reversal of impairment losses and its treatment under IFRS.

• Disclosure requirements for fair value and impairment assessments.

Unit 5:

Provisions, Employee Benefits, and IFRS Updates:

• Frameworks for recognition, measurement, and disclosure of provisions under IAS 37.

• Accounting for contingent liabilities and contingent assets.

• IAS 19 employee benefits, including defined benefit plans and pension obligations.

• Impact of actuarial assumptions on financial statements.

• Recent updates and emerging trends in IFRS standards.