Applying IFRS


Program Description

Applying IFRS

Key Information

  • Course Code: AFB106
  • Duration: 5 days
  • Fee: £2625

Course Outline

Conceptual Framework

  • The International Accounting Standards Board (IASB)
  • The purpose of a conceptual framework
  • Qualitative characteristics of useful financial information
  • Going concern assumption
  • Definition, recognition and measurement of the elements of financial statements
  • Concepts of capital
  • Future developments

Elements: Part 1

  • Owners’ equity: share capital and reserves
  • Fair value measurement
  • Revenue from contracts with customers
  • Provisions, contingent liabilities and contingent assets
  • Income taxes
  • Financial instruments
  • Share-based payment

Elements: Part 2

  • Inventories
  • Employee benefits
  • Property, plant and equipment
  • Leases
  • Intangible assets
  • Business combinations
  • Impairment of assets

Presentation and Disclosures

  • Financial statement and presentation
  • Statement of cash flow
  • Operating segments
  • Other keynotes disclosures

Economic Entities

  • Consolidation: controlled entities
  • Consolidation:wholly owned subsidiaries
  • Consolidation: intragroup transactions
  • Consolidation: non-controlling interest
  • Translation of the financial statements of foreign entities

Target audience

This IFRS course is suitable for:

  • Accounting and financial specialists, professionals and practitioners who wish to develop a greater understanding of the key concepts and applications of IFRS.
  • Those aiming for organizational adoption of IFRS to enable greater fluency in their financial reporting and establish a global understanding of their accounting practice in an increasingly internationalized business world.
  • Accounting and finance staff of entities that have been mandated to be IFRS compliant.

Learning outcomes

Upon completion of this IFRS training course, you will be able to understand:

  • The role of the International Accounting Standards Board (IASB) in setting international accounting standards.
  • The element of equity in financial statements, its various components and the accounting for transactions that give rise to these components.
  • Accounting requirements for IFRS 13 Fair Value Measurement.
  • Accounting requirements for IFRS 15 Revenue from Contracts with Customers.
  • Accounting requirements for IAS 37 Provisions, Contingent Liabilities, and Contingent Assets.
  • Accounting requirements for IAS 12 Income Taxes.
  • Accounting requirements for IFRS 9 Financial Instruments.
  • Accounting requirements for IAS 32 Financial Instruments: Presentation.
  • Accounting requirements for IFRS 7 Financial Instruments: Disclosures.
  • Accounting requirements for IFRS 12 Share-based Payment.
  • Accounting requirements for IAS 2 Inventories.
  • Accounting requirements for IAS 19 Employee Benefits.
  • Accounting requirements for IAS 16 Property, Plant, and Equipment.
  • Accounting requirements for IAS 17 Leases.
  • Accounting requirements for IAS 38 Intangible Assets.
  • Accounting requirements for IFRS 3 Business Combinations.
  • Accounting requirements for IAS 36 Impairment of Assets.
  • The principles that underlie the preparation of general purpose financial statements in order to provide information that is useful for creditors and investors and other users in making decisions about providing resources to the entity.
  • How to present a statement of cash flows in accordance with IAS 7 Statement of Cash Flows.
  • Accounting requirements for IFRS 8 Operating Segments.
  • Accounting requirements for IAS 24 Related Party Disclosures.
  • Accounting requirements for IAS 33 Earnings per Share.
  • The accounting standards governing the preparation of consolidated financial statements – IFRS 10 Consolidated Financial Statements and IFRS 3 Business Combinations.
  • The preparation of consolidated financial statements.
  • Accounting requirements for IAS 21 The Effects of Changes in Foreign Exchange Rates.

What is Included:

  • 30 hours of classroom-based training
  • Apple iPad
Last updated Mar 2020

About the School

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all o ... Read More

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all over the world. Read less