Course Details

This course is appropriate for a wide range of professionals but not limited to:

• Accountants, finance managers, and auditors responsible for financial reporting and compliance.
• Financial controllers, analysts, and consultants working in IFRS-regulated environments.
• Professionals transitioning from local GAAP to IFRS-based reporting.
• Regulators, internal auditors, and compliance officers seeking updated IFRS knowledge.
• Business owners and senior executives who review or approve financial statements.

• Expert-led sessions with dynamic visual aids
• Comprehensive course manual to support practical application and reinforcement
• Interactive discussions addressing participants’ real-world projects and challenges
• Insightful case studies and proven best practices to enhance learning

By the end of this course, participants should be able to:

• Understand the structure, objectives, and conceptual framework of IFRS.
• Apply key IFRS standards in the preparation and presentation of financial statements.
• Identify recent updates and changes introduced by the IASB.
• Analyze the practical implications of IFRS for financial performance and disclosure.
• Compare IFRS with other reporting frameworks and address transition challenges.

DAY 1

IFRS Framework and Overview of Standards

• Welcome and introduction
• Pre-test
• The Role and Purpose of IFRS in Global Financial Reporting
• The IASB Conceptual Framework for Financial Reporting
• Structure of IFRS Standards and Their Hierarchy
• Key Differences Between IFRS and Local GAAP
• The Presentation of Financial Statements (IAS 1)
• Case Study: Applying the Conceptual Framework in Real Situations

DAY 2

Recognition and Measurement of Key Financial Elements

• Accounting Policies, Estimates, and Errors (IAS 8)
• Property, Plant, and Equipment (IAS 16) and Depreciation Methods
• Intangible Assets (IAS 38) and Impairment Testing (IAS 36)
• Inventories (IAS 2) and Cost Formulas (FIFO, Weighted Average)
• Leases (IFRS 16): Recognition for Lessees and Lessors
• Case Study: Comparing Pre- and Post-IFRS 16 Applications

DAY 3

Financial Instruments, Revenue, and Liabilities

• Financial Instruments: Recognition, Classification, and Measurement (IFRS 9)
• Expected Credit Loss (ECL) Model for Impairment
• Revenue Recognition (IFRS 15): The Five-Step Model
• Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
• Employee Benefits and Pensions (IAS 19)
• Practical Exercise: Recording Revenue and Financial Instruments under IFRS

DAY 4

Consolidation, Fair Value, and Recent Updates

• Consolidated Financial Statements (IFRS 10) and Control Assessment
• Associates and Joint Arrangements (IAS 28 & IFRS 11)
• Fair Value Measurement (IFRS 13) and Disclosure Requirements
• Effects of Changes in Foreign Exchange Rates (IAS 21)
• IFRS Updates and Amendments Effective in Recent Years
• Upcoming Standards and Exposure Drafts from IASB
• Group Activity: Evaluating IFRS Updates Impact on Company Reporting

DAY 5

Disclosure, Compliance, and Implementation Challenges

• Disclosure Requirements and Transparency in IFRS Reporting
• Notes to Financial Statements: Enhancing Clarity and Comparability
• First-Time Adoption of IFRS (IFRS 1)
• Transitioning from Local GAAP to IFRS – Key Pitfalls and Solutions
• Industry-Specific IFRS Applications (Energy, Financial Services, Real Estate)
• Final Workshop: Preparing an IFRS-Compliant Financial Report
• Post-test
• Certificate ceremony