This course introduces participants to the International Financial Reporting Standards (IFRS) and equips them with the knowledge and skills required to apply these standards in practical financial reporting scenarios. Students will gain a solid foundation in IFRS principles, accounting concepts, and the preparation of financial statements that comply with IFRS.

By the end of the course, participants should be able to:

• Understand the fundamental principles and concepts of IFRS.
• Apply IFRS standards to prepare financial statements and make accounting judgments.
• Analyze and interpret financial statements prepared in accordance with IFRS.
• Evaluate the impact of IFRS on financial reporting and decision-making.
• Stay updated on recent developments and changes in IFRS.
• Mastering IFRS Principles
• Knowledgeable about International Business and Investment
• Familiarize participants with the implications of IFRS for audit and assurance practices
• Develop the ability to apply critical thinking and analytical skills to address complex accounting issues and make informed financial decisions

• Compliance with International Standards
• Improved Financial Reporting
• Global Market Access
• Investor Confidence
• Enhanced Audit Practices
• Risk Management
• Competitive Advantage
• Strategic Decision-Making
• Legal and Regulatory Compliance

Overall, a course in the Practical Application of IFRS can offer significant organizational benefits by aligning financial reporting practices with international standards, improving financial transparency, and enhancing decision-making processes.

• Accountants and Finance Professionals
• Auditors and Assurance Professionals
• Corporate Financial Reporting Teams
• Financial Consultants
• Business Owners and Executives
• Regulators and Government Officials
• Investment Analysts and Portfolio Managers
• Legal Professionals

5 days

1. Introduction to IFRS
   • History and development of IFRS
   • Importance of global accounting standards
   • Key differences between IFRS and local GAAP
2. IFRS Framework and Concepts
   • Fundamental accounting concepts (e.g., accrual basis, going concern)
   • Qualitative characteristics of financial information
   • Elements of financial statements
3. Presentation of Financial Statements
   • Structure and content of financial statements under IFRS
   • Requirements for income statements, balance sheets, and cash flow statements
4. Measurement and Recognition
   • Principles for recognizing and measuring assets, liabilities, income, and expenses
   • Fair value measurement under IFRS
5. Specific Accounting Standards
   • In-depth coverage of selected IFRS standards, such as IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Customers)
6. Consolidation and Business Combinations
   • Principles of consolidation and equity method
   • Accounting for business combinations under IFRS 3
7. Financial Instruments
   • Classification, measurement, and derecognition of financial instruments
   • Impairment of financial assets under IFRS 9
8. Leases
   • Accounting for leases under IFRS 16
   • Lease classification, measurement, and presentation
9. Non-Financial Assets
   • Accounting for property, plant, and equipment
   • Intangible assets and goodwill under IFRS
10. Financial Reporting Disclosures
    • Disclosure requirements under IFRS
    • Importance of transparency in financial reporting