Mastering IFRS Standards: A Comprehensive Guide to Financial Reporting
Course Overview This comprehensive course is designed to provide professionals with a deep understanding of International Financial Reporting Standards (IFRS) and their application in financial reporting. The course is interactive, engaging, and practical, with a focus on real-world applications and case studies.
Course Objectives - Understand the conceptual framework of IFRS and its application in financial reporting
- Learn to prepare and present financial statements in accordance with IFRS
- Understand the accounting treatment of various assets, liabilities, and equity instruments under IFRS
- Develop skills in financial analysis and interpretation of financial statements prepared under IFRS
- Stay up-to-date with the latest developments and changes in IFRS
Course Outline Module 1: Introduction to IFRS
- Overview of IFRS and its history
- Benefits and challenges of adopting IFRS
- Structure and governance of the International Accounting Standards Board (IASB)
- Understanding the IFRS conceptual framework
Module 2: Financial Statement Presentation
- Understanding the requirements of IAS 1: Presentation of Financial Statements
- Preparing and presenting financial statements in accordance with IFRS
- Classification and presentation of assets, liabilities, and equity
- Disclosure requirements for financial statements
Module 3: Revenue Recognition
- Understanding the requirements of IFRS 15: Revenue from Contracts with Customers
- Identifying performance obligations and determining transaction prices
- Allocating transaction prices to performance obligations
- Recognizing revenue and disclosure requirements
Module 4: Leases
- Understanding the requirements of IFRS 16: Leases
- Identifying lease arrangements and determining lease terms
- Measuring lease liabilities and right-of-use assets
- Accounting for lease modifications and disclosure requirements
Module 5: Financial Instruments
- Understanding the requirements of IFRS 9: Financial Instruments
- Classification and measurement of financial assets and liabilities
- Impairment of financial assets and hedge accounting
- Disclosure requirements for financial instruments
Module 6: Inventory and Agriculture
- Understanding the requirements of IAS 2: Inventories
- Measuring and valuing inventory
- Understanding the requirements of IAS 41: Agriculture
- Measuring and valuing biological assets and agricultural produce
Module 7: Property, Plant, and Equipment
- Understanding the requirements of IAS 16: Property, Plant, and Equipment
- Measuring and depreciating property, plant, and equipment
- Accounting for revaluations and impairment
- Disclosure requirements for property, plant, and equipment
Module 8: Intangible Assets
- Understanding the requirements of IAS 38: Intangible Assets
- Identifying and measuring intangible assets
- Amortizing and impairing intangible assets
- Disclosure requirements for intangible assets
Module 9: Impairment of Assets
- Understanding the requirements of IAS 36: Impairment of Assets
- Identifying and measuring impairment losses
- Accounting for impairment losses and reversals
- Disclosure requirements for impairment
Module 10: Provisions, Contingent Liabilities, and Contingent Assets
- Understanding the requirements of IAS 37: Provisions, Contingent Liabilities, and Contingent Assets
- Identifying and measuring provisions
- Accounting for contingent liabilities and contingent assets
- Disclosure requirements for provisions and contingencies
Module 11: Employee Benefits
- Understanding the requirements of IAS 19: Employee Benefits
- Accounting for short-term and long-term employee benefits
- Measuring and accounting for defined benefit plans
- Disclosure requirements for employee benefits
Module 12: Income Taxes
- Understanding the requirements of IAS 12: Income Taxes
- Accounting for current and deferred taxes
- Measuring and accounting for tax losses and credits
- Disclosure requirements for income taxes
Module 13: Financial Analysis and Interpretation
- Understanding financial statements and ratio analysis
- Analyzing and interpreting financial performance and position
- Using financial analysis to inform business decisions
- Best practices in financial analysis and interpretation
Course Features - Interactive and engaging: The course includes interactive elements, such as quizzes, case studies, and group discussions, to keep participants engaged and motivated.
- Comprehensive and up-to-date: The course covers all the latest developments and changes in IFRS, ensuring participants have a thorough understanding of the standards.
- Practical and applicable: The course focuses on real-world applications and case studies, enabling participants to apply their knowledge in practice.
- Expert instruction: The course is taught by experienced professionals with expertise in IFRS and financial reporting.
- Certification: Participants receive a certificate upon completion of the course, issued by The Art of Service.
- Flexible learning: The course is designed to be flexible, allowing participants to learn at their own pace and convenience.
- User-friendly and mobile-accessible: The course is delivered through a user-friendly platform that is accessible on mobile devices.
- Community-driven: The course includes opportunities for participants to interact with each other and with instructors through discussion forums and group work.
- Actionable insights: The course provides participants with actionable insights and practical knowledge that can be applied in their work.
- Hands-on projects: The course includes hands-on projects and case studies that enable participants to apply their knowledge in practice.
- Bite-sized lessons: The course is broken down into bite-sized lessons, making it easy to digest and retain information.
- Lifetime access: Participants have lifetime access to the course materials, enabling them to revisit and refresh their knowledge as needed.
- Gamification and progress tracking: The course includes gamification elements and progress tracking, making it engaging and motivating.
Certificate of Completion Upon completion of the course, participants will receive a certificate issued by The Art of Service, recognizing their achievement and demonstrating their expertise in IFRS and financial reporting.,
- Understand the conceptual framework of IFRS and its application in financial reporting
- Learn to prepare and present financial statements in accordance with IFRS
- Understand the accounting treatment of various assets, liabilities, and equity instruments under IFRS
- Develop skills in financial analysis and interpretation of financial statements prepared under IFRS
- Stay up-to-date with the latest developments and changes in IFRS
Course Outline Module 1: Introduction to IFRS
- Overview of IFRS and its history
- Benefits and challenges of adopting IFRS
- Structure and governance of the International Accounting Standards Board (IASB)
- Understanding the IFRS conceptual framework
Module 2: Financial Statement Presentation
- Understanding the requirements of IAS 1: Presentation of Financial Statements
- Preparing and presenting financial statements in accordance with IFRS
- Classification and presentation of assets, liabilities, and equity
- Disclosure requirements for financial statements
Module 3: Revenue Recognition
- Understanding the requirements of IFRS 15: Revenue from Contracts with Customers
- Identifying performance obligations and determining transaction prices
- Allocating transaction prices to performance obligations
- Recognizing revenue and disclosure requirements
Module 4: Leases
- Understanding the requirements of IFRS 16: Leases
- Identifying lease arrangements and determining lease terms
- Measuring lease liabilities and right-of-use assets
- Accounting for lease modifications and disclosure requirements
Module 5: Financial Instruments
- Understanding the requirements of IFRS 9: Financial Instruments
- Classification and measurement of financial assets and liabilities
- Impairment of financial assets and hedge accounting
- Disclosure requirements for financial instruments
Module 6: Inventory and Agriculture
- Understanding the requirements of IAS 2: Inventories
- Measuring and valuing inventory
- Understanding the requirements of IAS 41: Agriculture
- Measuring and valuing biological assets and agricultural produce
Module 7: Property, Plant, and Equipment
- Understanding the requirements of IAS 16: Property, Plant, and Equipment
- Measuring and depreciating property, plant, and equipment
- Accounting for revaluations and impairment
- Disclosure requirements for property, plant, and equipment
Module 8: Intangible Assets
- Understanding the requirements of IAS 38: Intangible Assets
- Identifying and measuring intangible assets
- Amortizing and impairing intangible assets
- Disclosure requirements for intangible assets
Module 9: Impairment of Assets
- Understanding the requirements of IAS 36: Impairment of Assets
- Identifying and measuring impairment losses
- Accounting for impairment losses and reversals
- Disclosure requirements for impairment
Module 10: Provisions, Contingent Liabilities, and Contingent Assets
- Understanding the requirements of IAS 37: Provisions, Contingent Liabilities, and Contingent Assets
- Identifying and measuring provisions
- Accounting for contingent liabilities and contingent assets
- Disclosure requirements for provisions and contingencies
Module 11: Employee Benefits
- Understanding the requirements of IAS 19: Employee Benefits
- Accounting for short-term and long-term employee benefits
- Measuring and accounting for defined benefit plans
- Disclosure requirements for employee benefits
Module 12: Income Taxes
- Understanding the requirements of IAS 12: Income Taxes
- Accounting for current and deferred taxes
- Measuring and accounting for tax losses and credits
- Disclosure requirements for income taxes
Module 13: Financial Analysis and Interpretation
- Understanding financial statements and ratio analysis
- Analyzing and interpreting financial performance and position
- Using financial analysis to inform business decisions
- Best practices in financial analysis and interpretation
Course Features - Interactive and engaging: The course includes interactive elements, such as quizzes, case studies, and group discussions, to keep participants engaged and motivated.
- Comprehensive and up-to-date: The course covers all the latest developments and changes in IFRS, ensuring participants have a thorough understanding of the standards.
- Practical and applicable: The course focuses on real-world applications and case studies, enabling participants to apply their knowledge in practice.
- Expert instruction: The course is taught by experienced professionals with expertise in IFRS and financial reporting.
- Certification: Participants receive a certificate upon completion of the course, issued by The Art of Service.
- Flexible learning: The course is designed to be flexible, allowing participants to learn at their own pace and convenience.
- User-friendly and mobile-accessible: The course is delivered through a user-friendly platform that is accessible on mobile devices.
- Community-driven: The course includes opportunities for participants to interact with each other and with instructors through discussion forums and group work.
- Actionable insights: The course provides participants with actionable insights and practical knowledge that can be applied in their work.
- Hands-on projects: The course includes hands-on projects and case studies that enable participants to apply their knowledge in practice.
- Bite-sized lessons: The course is broken down into bite-sized lessons, making it easy to digest and retain information.
- Lifetime access: Participants have lifetime access to the course materials, enabling them to revisit and refresh their knowledge as needed.
- Gamification and progress tracking: The course includes gamification elements and progress tracking, making it engaging and motivating.
Certificate of Completion Upon completion of the course, participants will receive a certificate issued by The Art of Service, recognizing their achievement and demonstrating their expertise in IFRS and financial reporting.,
- Interactive and engaging: The course includes interactive elements, such as quizzes, case studies, and group discussions, to keep participants engaged and motivated.
- Comprehensive and up-to-date: The course covers all the latest developments and changes in IFRS, ensuring participants have a thorough understanding of the standards.
- Practical and applicable: The course focuses on real-world applications and case studies, enabling participants to apply their knowledge in practice.
- Expert instruction: The course is taught by experienced professionals with expertise in IFRS and financial reporting.
- Certification: Participants receive a certificate upon completion of the course, issued by The Art of Service.
- Flexible learning: The course is designed to be flexible, allowing participants to learn at their own pace and convenience.
- User-friendly and mobile-accessible: The course is delivered through a user-friendly platform that is accessible on mobile devices.
- Community-driven: The course includes opportunities for participants to interact with each other and with instructors through discussion forums and group work.
- Actionable insights: The course provides participants with actionable insights and practical knowledge that can be applied in their work.
- Hands-on projects: The course includes hands-on projects and case studies that enable participants to apply their knowledge in practice.
- Bite-sized lessons: The course is broken down into bite-sized lessons, making it easy to digest and retain information.
- Lifetime access: Participants have lifetime access to the course materials, enabling them to revisit and refresh their knowledge as needed.
- Gamification and progress tracking: The course includes gamification elements and progress tracking, making it engaging and motivating.