IFRS overall accounting refresher

Course Objectives:

By the end of the course, participants will be able to:

• Learn the key principles of Conceptual Framework for Financial Reporting
• Learn the financial reporting standards applicable to key elements of financial statements
• Learn the disclosure requirements for organizations in financial reports and notes
• Learn the aspects related to consolidated financial statements including subsidiaries, associates and joint arrangements

Course outline

Introduction to the IFRS

• International Accounting Standards Board (IASB) and IFRS Foundation Relationship
• International Accounting Standards (IAS Standards), and International Financial Reporting Standards (IFRS Standards) that are currently in issue
• Conceptual Framework for Financial Reporting
• The status and practice of IFRS standards around the world

Accounting for Assets under IFRS

• Property, Plant & Equipment
• Inventory
• Intangible Assets
• Investment Property
• Leases
• Borrowing Costs
• Agriculture
• Government Grants and Disclosure of Government Assistance
• Impairment of Assets

Accounting for Revenue Recognition

• Revenue from Contracts with Customers
• Contract Costs

Accounting for Liabilities

• Provisions
• Contingent Liabilities
• Lease Liabilities
• Income Taxes
• Employee Benefits
• Share based payments

Financial Instruments

• Financial Assets, Financial Liabilities & Equity
• Recognition of Financial Instruments
• Fair Value Measurement
• Impairment of Financial Assets
• Hedging and Hedge Accounting

Presentation of Financial Statements

• Presentation of Financial Statements
• Statement of Cash Flows
• Interim Financial Reporting
• Selection of Accounting Policies and Accounting Estimates
• Events after the reporting period

Group Financial Statements

• Business Combination
• Consolidated Financial Statements
• Separate Financial Statements
• Associates & Joint Ventures
• Effects of Changes in Foreign Exchange Rates

Other IFRS Standards

• Related Party Disclosures
• Earnings Per Share
• Exploration and Evaluation of Mineral Resources
• Assets Held for Sale and Discontinued Operations
• First time adoption of IFRS
• IFRS for SME’s