Comprehensive International Accounting Standards IAS/IFRS
Introduction :
The application of International Accounting Standards IAS and International Financial Reporting Standards IFRS in various accounting treatments and the preparation of financial statements and reports is a key requirement for global recognition. This training course aims to provide participants with a deep understanding of the latest international accounting standards and their practical applications, enabling them to prepare and analyze financial reports efficiently and credibly in compliance with international requirements. Whether you are an accountant, auditor, financial manager, or financial controller, this course equips you with the necessary tools to fully understand and apply the standards, enhancing the quality of financial reports and ensuring compliance with local and international regulatory requirements. Register now to develop your skills and achieve excellence in the world of international financial accounting.
Objectives :
- Understanding the theoretical and practical framework of IAS and IFRS standards.
- Applying international standards to financial reporting with professionalism.
- Distinguishing between IAS and IFRS and their uses.
- Recognizing the disclosure and transparency requirements in financial statements.
- Analyzing the impact of applying standards on the financial performance of companies.
- Reviewing and analyzing financial statements according to the latest standards.
- Using standards to support financial and managerial decision-making.
- Understanding the latest updates issued by the International Accounting Standards Board IASB .
Target Audience :
- Certified Public Accountants.
- Internal and external auditors.
- Financial managers.
- Employees of banks and financial institutions.
- Financial consultants.
- Financial reporting officers in companies.
- Professionals working in regulatory bodies and financial institutions.
Content Outlines :
Module 1 – Introduction to IAS/IFRS Standards
- Definition and objectives of IAS/IFRS.
- Importance of global accounting harmonization.
- Historical development of the standards.
- Regulatory bodies behind IAS/IFRS.
- Scope and structure of the standards.
- Differences between IAS and IFRS.
Module 2 – Framework for Financial Reporting
- Key components of financial statements.
- General principles of financial reporting.
- Fundamental accounting assumptions.
- Recognition and measurement criteria.
- Disclosure requirements.
- Concept of materiality and reliability.
Module 3 – IAS 1: Presentation of Financial Statements
- Structure of financial statements.
- Required financial disclosures.
- Balance sheet and income statement format.
- Statement of comprehensive income.
- Statement of cash flows.
- Practical examples and layout.
Module 4 – IFRS 15: Revenue from Contracts with Customers
- Revenue recognition principles.
- Five-step revenue model.
- Identifying customer contracts.
- Performance obligations and pricing.
- Required disclosures under IFRS 15.
- Comparison with prior standards.
Module 5 – IAS 16: Property, Plant, and Equipment
- Recognition of tangible assets.
- Initial and subsequent measurement.
- Revaluation model and cost model.
- Depreciation and impairment.
- Derecognition of assets.
- Example accounting treatments.
Module 6 – IAS 2: Inventories
- Definition and classification of inventories.
- Inventory valuation methods.
- Net realizable value concept.
- Cost flow assumptions FIFO, LIFO .
- Disclosure in financial statements.
- Inventory write-downs and reversals.
Module 7 – IAS 37: Provisions and Contingent Liabilities
- Recognition of provisions and liabilities.
- Measurement techniques.
- Distinction from other obligations.
- Use of estimates and assumptions.
- Disclosure obligations.
- Examples of practical applications.
Module 8 – IFRS 9: Financial Instruments
- Classification and measurement of instruments.
- Impairment and expected loss models.
- Hedge accounting fundamentals.
- Reclassification of assets.
- Disclosure and risk management.
- Illustrative case studies.
Module 9 – Changes in Accounting Policies and Estimates
- Accounting for policy changes.
- Impact on financial statements.
- Correction of prior period errors.
- Disclosure and transparency practices.
- Comparative financial information.
- Examples and scenarios.
Module 10 – Preparing Comprehensive IFRS Reports
- Comprehensive presentation approach.
- Cross-standard reporting techniques.
- Investor-focused disclosures.
- Risk management and clarity.
- Ensuring global compliance.
- Case-based reporting practice.