International Financial Reporting Standards IFRS
Introduction :
The International Financial Reporting Standards IFRS are fundamental pillars in the world of finance and business, aiming to achieve transparency and global comparability between financial statements of organizations. With globalization and the increasing cross-border investments, the need for a deep understanding of these standards—adopted in over 140 countries worldwide—continues to grow. This comprehensive training course offers an exceptional opportunity for accountants, auditors, and financial managers to understand and apply IFRS, ensuring compliance with modern developments and enhancing the credibility of financial information. The course is designed to provide participants with the technical and practical knowledge needed to tackle the challenges of financial reporting according to international standards, with a focus on their practical applications in real-world work environments.
Objectives :
- Understanding the background and basic principles behind IFRS standards.
- Analyzing international financial reporting standards in terms of content, objectives, and application.
- Preparing financial statements according to the internationally recognized standards.
- Distinguishing between accounting treatments under IFRS and local standards.
- Recognizing the financial impacts of the practical application of IFRS standards.
- Dealing with complex accounting issues such as revenue, leases, and financial instruments.
- Developing skills to prepare transparent and clear financial reports for users.
- Keeping up with ongoing updates to IFRS standards and analyzing their impact on financial reports.
Target Audience :
- Certified Chartered Accountants.
- Internal and external auditors.
- Financial managers and accountants.
- Data and financial reporting analysts.
- Tax advisors and financial consultants.
- Financial compliance officers and regulatory reporting officers.
- Employees in banks, investment institutions, and insurance companies.
Content Outlines :
Topic 1: General Framework for Standards and Fundamentals of Financial Reporting
- Concept and objectives of IFRS standards.
- The conceptual framework for preparing and presenting financial statements.
- IFRS 1: First-time adoption of international standards.
- IAS 1: Presentation of financial statements.
- IAS 7: Cash flow statement.
- IAS 8: Accounting policies, changes in estimates, and errors.
Topic 2: Standards Related to Assets and Liabilities
- IAS 2: Inventories.
- IAS 16: Property, plant, and equipment.
- IAS 36: Impairment of assets.
- IAS 38: Intangible assets.
- IFRS 5: Non-current assets held for sale.
- IAS 40: Investment properties.
Topic 3: Liabilities, Financing, and Leasing
- IFRS 9: Financial instruments.
- IFRS 7: Disclosure of financial instruments.
- IFRS 16: Leases.
- IAS 12: Income tax.
- IAS 19: Employee benefits.
- IAS 37: Provisions and contingent liabilities.
Topic 4: Recognition of Revenues, Costs, and Consolidation
- IFRS 15: Revenue from contracts with customers.
- IAS 18: Revenue for comparison only when transitioning .
- IAS 20: Government grants and government support disclosures.
- IFRS 2: Share-based payments.
- IAS 23: Borrowing costs.
- IAS 21: Effects of changes in foreign exchange rates.
Topic 5: Consolidated Disclosures, Consolidated Financial Statements, and Mergers
- IFRS 3: Business combinations.
- IFRS 10: Consolidated financial statements.
- IFRS 11: Joint arrangements.
- IFRS 12: Disclosure of interests in other entities.
- IAS 24: Disclosure of related party transactions.
- IFRS 13: Fair value measurement and disclosures.