|E010||February 4, 2024 - February 8, 2024||Online||USD 1900||
|E010||August 6, 2023 - August 10, 2023||Dubai – UAE||USD 5100||
|E010||November 19, 2023 - November 23, 2023||London||USD 5100||
|E010||January 7, 2024 - January 11, 2024||Kualalumber||USD 5100||
This course will discuss:
- The latest developments in the growing worldwide use of International Financial Reporting Standards (IFRS).
- The latest IFRS, Exposure Drafts (ED) and the International Accounting Standards Committee Foundation (IASCF) Improvement Project.
- Detailed practical examples on the implementation and application of accounting and financial reporting concepts.
- Real world challenges to applying IFRS and strategies to overcome them.
- Detailed analysis of IFRS 7 (Financial Instruments: Disclosures), IAS 32 (Financial Instruments: Presentation) and IAS 39 (Financial Instruments: Recognition And Measurement).
- Chief Accountants.
- Group Finance Directors.
- Heads of Finance.
- Finance Managers.
- Financial Controllers.
- Management Accountants.
- Executive Directors of Finance.
- Managers of Financial Accounts.
- Heads of Accounting and Administration.
- Finance and Information Systems Managers.
- Financial Analysts.
- Portfolio Managers.
- International Accounting Standards Committee Foundation (IASCF) Constitution Proposal for Changes
- The framework for the preparation and presentation of financial statements
- Global convergence
- IFRS 1 – First Time Adoption of IFRS :
- Objective and scope
- Exemptions and exceptions
- Presentation and disclosure
- Financial Statement Presentation (IAS 1, 7, 34; IFRS 2) :
- Components of financial statements
- Balance sheet classification issues
- Non-current assets held for sale and discontinued operations
- Income statement presentation
- Statement of changes in equity
- Cash flow statements
- Measuring Financial Performance (IAS 8, 24, 33; IFRS 2, 5) :
- Accounting policies, accounting estimates and errors
- Earnings per share
- Related party transactions
- Share based payments
- Business Combinations (IAS 36, 38; IFRS 5) :
- Purchase method
- Identifying the acquirer
- Allocating the cost to net assets
- Recognition and measurement of goodwill
- Transitional provisions
- Consolidations Including Foreign Currency Issues (IAS 21, 27, 28, 31) :
- Determination of control and consolidation of subsidiaries
- Accounting for associates
- Accounting for joint ventures
- Implementation guidance on IAS 27, 28 and 31
- Functional currencies
- Consolidating foreign subsidiaries
- Foreign currency transactions
- Segmental Reporting (IAS 14) :
- Identifying reportable segments
- Business and geographical segments
- Meeting the 10% test
- Presentation of segmented data
- Revenue Recognition (IAS 11, 18) :
- Recognition issues and the concept of substance over form
- Measurement of revenue
- Construction contracts
- Tangible Assets (IAS 2, 16, 23, 36) :
- Inventory methods
- Lowering of cost and Net Realizable Value (NRV)
- Manufacturing inventories
- Accounting for property, plant and equipment including revaluations
- Borrowing costs
- Intangible Assets (IAS 36, 38; IFRS 3) :
- Recognition criteria
- Measurement issues
- Internally developed intangible assets
- Research and development costs
- Intangible assets acquired in a business combination
- Amortization versus impairment
- Liabilities, Provisions and Contingencies (IAS 10, 12, 37) :
- Recognition criteria for provisions and contingencies
- Constructive and legal obligations
- Discounting deferred payments
- Onerous contracts
- Post balance sheet events
- Deferred tax provisions and assets
- Employee Benefits (IAS 19) :
- Types of retirement plans
- Factors affecting pension plan assets and liabilities
- Determining the defined benefit obligation
- Actuarial gains and losses including amendments
- Current and past service costs
- Impact on Implementation Guidance – Questions and Answers Scope :
- Debt and equity investments
- Loans and receivables
- Own debt
- Cash and cash equivalents
- Derivatives on subsidiaries, associates and joint ventures
- Embedded derivatives
- Loan commitments held for trading
- Specific exemptions
- Debt/Equity Classification :
- Derivatives on own shares
- Initial Recognition and Classification
- Initial recognition
- Reclassification of assets between categories
- Embedded derivatives
- De-Recognition :
- De-recognition of financial assets
- Consequences of de-recognition or failed de-recognition
- De-recognition of financial liabilities
- Subsequent Measurement, Fair Values and Impairment :
- Subsequent measurement – financial issues
- Subsequent measurement – financial liabilities
- Amortized cost and effective interest method
- Fair value
- Impairment of financial assets
- Hedge Accounting :
- Criteria for hedge accounting
- Categories of hedges
- Hedge effectiveness/ineffectiveness
- Discontinuing hedge accounting
- Risk management policies and hedging activities
- Terms, conditions and accounting policies
- Interest rate risk
10% in case of Three P. (or more)