IFRS Standards Application & Updates Training Course

This course provides finance and accounting professionals with in-depth knowledge of the International Financial Reporting Standards (IFRS), focusing on their practical application and the latest updates issued by the International Accounting Standards Board (IASB). It covers complex standards, implementation challenges, disclosure requirements, and real-world application through case studies. Participants will gain the skills to interpret, apply, and comply with IFRS in their organizations, ensuring transparent, comparable, and high-quality financial reporting aligned with global best practices.

Target Groups

• Chief Finance Officers (CFOs), financial controllers, and senior accountants.
• Auditors and internal audit professionals.
• Financial analysts and reporting specialists.
• Regulators and policy makers in finance/accounting.
• Consultants and advisors providing IFRS-related services.
• Professionals preparing for IFRS certification.

Course Objectives

By the end of this course, participants will be able to:

1. Understand the core principles of IFRS and their global relevance.
2. Apply IFRS in preparing and presenting financial statements.
3. Analyze key IFRS updates and their implications for organizations.
4. Implement complex standards such as IFRS 9, IFRS 15, IFRS 16, and IFRS 17.
5. Ensure compliance with disclosure and presentation requirements.
6. Handle practical challenges in transitioning from local GAAP to IFRS.
7. Align accounting policies with the most recent IFRS amendments.
8. Strengthen financial reporting quality for investors and stakeholders.
9. Prepare organizations for IFRS audits and regulatory reviews.
10. Anticipate upcoming IFRS changes and their strategic impact.

Course Modules

Module 1: Overview of IFRS Framework & Objectives

• Evolution and purpose of IFRS.
• IASB conceptual framework.
• Global adoption and convergence with local GAAP.

Module 2: IFRS 9 – Financial Instruments

• Classification and measurement.
• Impairment models (expected credit loss).
• Hedge accounting.

Module 3: IFRS 15 – Revenue from Contracts with Customers

• The 5-step revenue recognition model.
• Performance obligations and transaction price allocation.
• Industry-specific applications.

Module 4: IFRS 16 – Leases

• Right-of-use asset and lease liability recognition.
• Impact on lessees vs. lessors.
• Disclosure requirements and financial ratios impact.

Module 5: IFRS 17 – Insurance Contracts

• Measurement models (BBA, VFA, PAA).
• Presentation of insurance revenues and expenses.
• Transition approaches and challenges.

Module 6: Consolidation & Group Reporting (IFRS 10, 11, 12)

• Control principles and subsidiaries.
• Joint arrangements and associates.
• Disclosure of interests in other entities.

Module 7: IFRS for Fair Value & Impairment (IFRS 13, IAS 36)

• Fair value measurement hierarchy.
• Impairment of assets and cash-generating units.
• Practical valuation challenges.

Module 8: IFRS Disclosure Requirements & Presentation

• IAS 1: Presentation of financial statements.
• IAS 7: Statement of cash flows.
• Best practices in disclosures for transparency.

Module 9: Recent & Upcoming IFRS Updates

• Recent IASB amendments and interpretations.
• Exposure drafts and projects in progress.
• Anticipating the impact of future IFRS updates.

Module 10: Case Studies, Practical Application & Transition Issues

• Transitioning from local GAAP to IFRS.
• Industry-specific challenges (banking, telecoms, oil & gas).
• Case study workshops on applying recent IFRS changes.