International Financial Reporting Standards (IFRS) course

Introduction

IFRS Financial Reporting Course will cover most of the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).The course consist of power point presentation of conceptual framework of various IAS and IFRS standards. It includes objective recognition criteria, measurement bases, disclosures etc of all specific IASs and IFRSs.It will help in gain understanding of global accounting standards and their practical use in the preparation of financial statements like Statement of Financial Position, Income Statement, other comprehensive income, Statement of Equity etc.

Duration

5days

Course Objective:

·         Objective of general purpose financial reporting.

·         Understanding  the Financial statements

·         Recognition criteria for assets and liabilities.

·         Understanding the principles and concepts of accrual basis for accounting and the going concern assumption.

·         Principle of capital and capital maintenance

·         Objectives, recognition, Measurement bases, disclosures of various IFRS and IAS standards

Course content

Introduction

IFRS Conceptual Framework and Bodies associated, IAS 1, IAS 8

Income Standards

·         IAS 18 Revenue

·         IAS 11 Construction Contracts

Assets Standards

·         IAS 2 – Inventories

·         IAS 16- Property, Plant and Equipment

·         IAS 20 Government Grants

·         IAS 23 Borrowing Costs,

·         IAS 17 Leases

·         IAS 38- Intangible Assets

·         IAS 40- Investment Property

·         IAS 41 Agriculture,

·         IAS 36 Impairment of Assets,

·         IFRS 6 Exploration & Evaluation

Liabilities Standards

·         IAS 37 Provisions, Contingent Liabilities & Assets

·         IAS 19- Employee Benefits

·         IFRS 2 Share-based Payment

·         IAS 12 Income Taxes, IAS 32 Financial Instruments

·         IAS 39, IFRS 7,

·         IFRS 9 (Financial Instruments)

Other Standards

·         IAS 21- Effects in changes in Foreign Exchange,

·         IFRS 3: Business Combination

·         IFRS 11 Joint Arrangements,

·         IFRS 12 Disclosures

·         IFRS 13 Fair Value Measurement

Disclosures Standards

·         IAS 33Earning per Share

·         IFRS 8: Operating Segments

·         IFRS 5 Non-current Assets Held for Sale and Discontinued

·         IAS 10 Events after the Reporting Period

·         IAS 24 Related Party Disclosure

·         IAS 34 Interim Reporting

·         IFRS 1: First- time Adoption of IFRS