Applying IFRS

This IFRS course demonstrates the key elements of IFRS. It defines the scope of financial reporting and its relevance to stakeholders.

By attending this course, you will understand how implementing IFRS has an impact on all aspects of an organization.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Overview of IFRS

The need for IFRS

The International Accounting Standards Board (IASB)

The Conceptual Framework

Overview of standards

Financial Reporting

The objectives of financial reporting

What has to be included in financial statements

Understanding the treatment of income and costs

Understanding the treatment of assets and liabilities

IFRS Implementation

The transition to IFRS

Financial analysis tools and techniques

Relevance of corporate governance

Future IFRS considerations

IFRS Implementation Review

The first time adoption process as a project

Gap Analysis – actual outcome v desired outcome

Adopting changes in standards

Course Review

Summary and recap of key learning objectives

Action Planning

Target Audience

This IFRS course is suitable for:

• Financial staff who need an introduction to IFRS.
• Financial staff who wish to develop a greater understanding of the concepts and applications of IFRS.
• Analysts and non-financial staff who need to understand IFRS but are not necessarily practitioners.

Learning Outcomes

Upon completion of this course, you will understand:

• The key concepts of IFRS and their application.
• How the information included in financial reports informs decision-making.
• How to work through the initial and ongoing implementation of IFRS.
• How to implement an Action Plan at your workplace using the knowledge and skills acquired through the course.