Advanced International Financial Reporting Standards IFRS

Overview:

Introduction: 

This advanced training program delves deeply into the complexities of International Financial Reporting Standards (IFRS), focusing on advanced concepts and applications. It is designed for professionals who seek to enhance their understanding of IFRS and its impact on financial reporting, compliance, and strategic decision-making.

Program Objectives:

By the end of this program, participants will be able to:

• Master advanced IFRS concepts and standards.

• Apply IFRS to complex financial reporting scenarios.

• Analyze and interpret advanced financial statements and disclosures.

• Address complex issues and challenges in IFRS compliance.

Target Audience:

• Senior Financial Accountants.

• Financial Reporting Managers.

• Auditors and Compliance Officers.

• CFOs and Finance Directors.

• Finance Professionals engaged in complex financial reporting.

Program Outline:

Unit 1:

Advanced IFRS Framework and Principles:

• Detailed review of the IFRS framework.

• In-depth analysis of the conceptual framework and its application.

• Advanced principles underlying IFRS standards.

• Differences and similarities between IFRS and local GAAP.

• Key challenges in applying IFRS principles.

Unit 2:

Complex Financial Instruments (IFRS 9):

• Advanced concepts in financial instruments.

• Classification and measurement of financial assets and liabilities.

• Impairment and expected credit losses under IFRS 9.

• Hedge accounting and its application.

• Practical challenges and solutions in applying IFRS 9.

Unit 3:

Revenue Recognition (IFRS 15):

• Advanced revenue recognition principles under IFRS 15.

• Detailed analysis of contract performance obligations.

• Timing and measurement of revenue.

• Impact on financial statements and disclosures.

Unit 4:

Leases (IFRS 16):

• Advanced topics in lease accounting under IFRS 16.

• Lessee and lessor accounting requirements.

• Measurement and presentation of lease liabilities and right-of-use assets.

• Impact on financial ratios and performance metrics.

• Practical implementation issues and case studies.

Unit 5:

Business Combinations and Consolidations (IFRS 3 and IFRS 10):

• Advanced concepts in business combinations under IFRS 3.

• Accounting for goodwill and acquisition-related costs.

• Consolidation principles under IFRS 10.

• Complex consolidation scenarios and adjustments.

• Dealing with changes in ownership and partial disposals.

Unit 6:

Fair Value Measurement (IFRS 13):

• Advanced principles of fair value measurement.

• Determining fair value in complex scenarios.

• Valuation techniques and inputs.

• Disclosures related to fair value measurements.

• Practical challenges in fair value accounting.

Unit 7:

Impairment of Assets (IAS 36):

• Advanced topics in asset impairment.

• Identification and measurement of impaired assets.

• Reversal of impairment losses and its impact.

• Goodwill impairment and its complexities.

• Case studies on asset impairment issues.

Unit 8:

Employee Benefits (IAS 19):

• Detailed analysis of employee benefits under IAS 19.

• Accounting for defined benefit plans and other post-employment benefits.

• Measurement and presentation of pension obligations.

• Impact on financial statements and actuarial assumptions.

• Challenges and solutions in employee benefits accounting.

Unit 9:

Provisions, Contingent Liabilities, and Contingent Assets (IAS 37):

• Advanced concepts in provisions and contingent liabilities.

• Recognition, measurement, and disclosure of provisions.

• Accounting for contingent assets and liabilities.

• Practical examples and case studies.

• Issues and challenges in applying IAS 37.

Unit 10:

Recent Developments and Future Trends in IFRS:

• Overview of recent changes and updates in IFRS.

• Emerging trends and future developments in international financial reporting.

• Impact of new and upcoming standards on financial reporting practices.

• Preparing for future IFRS changes and updates.

• Continuous professional development resources and strategies.