Advanced International Financial Reporting Standards IFRS

Overview:

Introduction:

This workshop provides in-depth knowledge of International Financial Reporting Standards (IFRS), focusing on the application of complex accounting principles. Participants will gain a comprehensive understanding of IFRS updates, their implications on financial reporting, and how to navigate financial statements for multinational organizations.

Workshop Objectives:

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

• Understand and apply advanced IFRS standards in financial reporting.

• Analyze and interpret financial statements according to IFRS requirements.

• Address complex financial transactions involving revenue recognition, leases, and financial instruments under IFRS.

• Stay updated on the latest changes and amendments to IFRS.

• Prepare consolidated financial statements for multinational corporations in compliance with IFRS.

Target Audience:

• Finance Managers.

• Chief Financial Officers (CFOs).

• Financial Controllers.

• Senior Accountants and Auditors.

• Professionals involved in financial reporting and compliance.

Workshop Outline:

Unit 1:

Overview of Advanced IFRS Standards:

• Review of key IFRS principles and their global adoption.

• Understanding the IFRS conceptual framework for financial reporting.

• Major changes and updates to IFRS standards.

• How to apply IFRS in multinational corporations and cross-border transactions.

• Impact of IFRS on financial statements and disclosures.

Unit 2:

Complex Transactions and Their Treatment Under IFRS:

• Revenue recognition under IFRS 15: performance obligations and revenue streams.

• Lease accounting under IFRS 16: lessee and lessor accounting.

• Financial instruments under IFRS 9: classification, measurement, and impairment.

• IFRS 3: accounting for business combinations and goodwill recognition.

• IFRS 10: consolidation of financial statements and accounting for joint ventures.

Unit 3:

Practical Application and Financial Statement Preparation:

• Preparing financial statements in compliance with IFRS requirements.

• Best practices in consolidating financial statements under IFRS.

• Ensuring compliance with IFRS disclosure requirements.

• Navigating complex financial transactions in global markets under IFRS guidelines.