Conference on Accountants Forum

Overview:

Introduction:

Conference Objectives:

By the end of the conference, participants will be able to:

• Understand the evolution of international accounting standards, including the shift from IAS to IFRS.

• Apply IFRS and IAS standards in financial statement presentation.

• Perform advanced financial analysis using vertical, horizontal, and ratio analysis techniques.

• Implement financial risk management strategies and develop risk mitigation plans.

• Apply the principle of mitigating damages after realization and understand compensable damage in legal contexts.

Target Audience:

• Accounting department managers and financial managers.

• Accountants and auditors across all sectors.

• Providers of accounting and auditing technology programs.

• Relevant government and private entities.

• Local and international accounting firms and offices.

Conference Outline:

Unit 1:

Evolution of International Accounting Information Systems:

• Abolition of International Accounting Standards (IAS) in 2011.

• Evolution of accounting information systems according to the economic relevance of international standards.

• A joint project to develop accounting theory: IASB & FASB 2005 - 2011.

• Issuance of International Financial Reporting Standards (IFRS) 2010.

• International Financial Reporting Standards Foundation (IFRS Foundation)

Unit 2:

2010 IFRS and IAS Financial Reporting Standards: Presentation of Financial Statements according to International Standards:

• Draft IFRS – 7, IAS – 1: Presentation of Financial Statements.

• Presentation of the Balance Sheet.

• Presentation of the Comprehensive Income Statement.

• Presentation of the Cash Flow Statement.

• Supplementary explanations.

Unit 3:

Modern Strategies in Financial Performance Reporting and Analysis:

• Vertical and Horizontal Analysis of Financial Data.

• Financial Ratio Analysis.

• Benchmarking.

• Strategic Financial Analysis of Financial Statements

• Balance Sheet Analysis.

• Comprehensive Income Statement Analysis.

• Cash Flow Statement Analysis.

Unit 4:

Financial Risk Management:

• Principles of Financial Risk Management.

• Steps in Financial Risk Management, and Dealing with Risks.

• Developing a Plan to Address Risks.

• Reviewing, Evaluating, and Implementing the Plan.

• Constraints and Obstacles.

• Areas of Financial Risk Management Application.

• Financial Risk Management and Contract Continuity.

• Methods of Dealing with Financial Risks.

Unit 5:

Principle of Mitigating Risks and Damages After Realization:

• Compensable Damage.

• Anticipated Damage in National Legal Systems.

• Formulation of the Rule in European Contract Principles.

• Principle of Full Compensation, Function and Source of Compensation.

• Obligation to Mitigate Damage.

• Methods of Implementing the Obligation.

• Effects of Fulfilling the Obligation to Mitigate Damage.

• Consequences of Non-Fulfillment of the Obligation to Mitigate Damage.