International Financial Reporting Standards

Training Workshop in Dubai 

  

COURSE DESCRIPTION

A 3-day expert-led intensive training course on all aspects of using International Financial Reporting Standards (IFRS).Delegates will understand the content of all major IASB standards and the main differences between IFRS and other major accounting systems such as US GAAP.

INTERNATIONAL FINANCIAL REPORTING STANDARDS BACKGROUND
International Financial Reporting Standards (IFRS, incorporating International Accounting Standards) are now required for the consolidated statements of listed companies. Usage of IFRS has also spread much wider than that. A detailed grasp of IFRS is now essential for many preparers, auditors and users of financial statements. It is also vital background knowledge for all other accountants.

TRAINING COURSE OBJECTIVES
The objectives include enabling delegates to:

  • understand the content of all major IASB standards
  • appreciate how the standards fit together and to learn how to resolve apparent conflicts
  • apply IFRS to practical accounting problems
  • anticipate imminent changes to the requirements of IFRS
  • understand the main differences between IFRS and other major accounting systems such as US GAAP

KEY TECHNICAL TOPICS INCLUDE:

  • presentation of financial statements
  • recognition and measurement of tangible and intangible assets
  • provisions, pensions and deferred tax
  • financial instruments
  • business combinations


PROGRAM ATTENDEES
Accountants, Financial Analysts, Portfolio Managers, Securities Analysts, Credit / Investment Analysts, Pension Fund Managers, Auditors

Join us for this 3-day course to update your knowledge and uncover how you can impact on your future financial reporting

TRAINING COURSE METHODOLOGY

Delegates are taught via lectures followed up by practical exercises and discussion of areas of complexity or particular interest. Throughout the training course, delegates' knowledge is consolidated by undertaking group case studies and multiple choice questions, using the standards themselves and annual reports /financial statements of companies. Presentations on technical topics are interspersed by group work and opportunities for self-assessment.

 

 

 

AGENDA


DAY 1: International Financial Reporting Standards (IFRS)

9.00 Registration and coffee

9.30 INTRODUCTION


  • Origins, membership and workings of the IASB
  • Status and nature of IASs, IFRSs and interpretations
  • Overview of worldwide use and content of IFRS

11.00 Coffee

11.20 CONCEPTS AND PRESENTATION


  • The IASB conceptual framework
  • IAS 1 – presentation of statements
  • IFRS 5 – assets held for sale and discontinued operations
  • IAS 8 – accounting policies
  • Question session in groups

1.00 Lunch

2.00 REVENUE AND INVENTORIES


  • IAS 18 – revenue
  • IAS 2 – inventories
  • IAS 11 – construction contracts

PROPERTY, PLANT AND EQUIPMENT

  • IAS 16 – tangible assets
  • IAS 40 – investment property
  • Question session in groups

3.20 Tea

3.40 MORE ON ASSETS


  • IAS 17 – leases
  • IAS 20 – government grants
  • IAS 23 – interest capitalisation
  • Proposals for reform of these standards
  • Question session in groups

Multiple choice self-assessment opportunity

5.30 End of day one



DAY 2: International Financial Reporting Standards (IFRS)

9.15 Discussion of multiple choice answers

INTANGIBLES, ETC.

  • IAS 38 – intangible assets
  • IAS 36 – impairment of assets
  • IAS 41 – agriculture
  • IFRS 6 – mineral resources
  • Question session in groups

11.00 Coffee

11.20 FINANCIAL ITEMS

  • IAS 32 – Financial instruments: presentation
  • IAS 39 – Financial instruments: measurement
  • IFRS 7 – Financial instruments: disclosures
  • IFRS 9 - Financial Instruments (new standard)
  • Question session in groups
  • Synthesis on assets

1.00 Lunch

2.00 LIABILITIES

  • IAS 37 – provisions
  • IAS 10 – events after balance sheet
  • IFRS 4 – insurance contracts
  • IAS 19 – pensions
  • Question session in groups

3.20 Tea

3.40 MORE ON LIABILITIES

  • Case study on IFRS statements
  • IFRS 2 – share-based payments
  • IAS 12 – deferred tax

Multiple choice self-assessment opportunity

5.30 End of day two


DAY 3: Internat