International Financial Reporting Standards (IFRSs) are the world’s most widely applied accounting standards. More than 130 countries now require or permit the use of IFRSs. Over 7,000 public companies in the European Union have complied with IFRS since 2005. Most other countries are either adopting IFRSs or have decided to converge their national standards with IFRSs.

This five-day course provides a rigorous and detailed overview of all major technical IFRS requirements, and includes illustrative financial statements, case studies, examples, coverage of the most significant IFRSs, and interactive participation from the delegates. This program answers questions such as:

  • What are the current and likely future requirements of IFRSs?
  • How are IFRS recognition and measurement principles applied?
  • Where can up-to-date information about IFRSs be obtained?
  • When are fair value measurements required?

Learning Objectives

  • Apply the requirements of the standards to prepare IFRS compliant financial statements, including the determination of appropriate accounting policies and identification of necessary disclosures
  • Define the process of transitioning to IFRS and identify the firsttime adoption exemptions and exceptions relevant to an organization
  • Explain how the recognition and measurement principles of the IASB’s Framework apply within each accounting standard
  • List the standards that require or permit the use of fair value measurement, identify how fair value is measured and specify where the fair value changes are recognized
  • Apply the new standards on revenue, leases and financial instruments

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Skill Level: Beginner