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 IFRSs since 2005. Some jurisdictions commit to converge their national standards with IFRSs. Our two-day overview is designed to guide you step-by-step through important IFRS technical issues. We explain the principles clearly and simply. Our specialist instructors also help delegates with the practicalities of implementation.

The course answers questions such as:

  • What are the current IFRS requirements?
  • What are the main areas to be considered that affect most companies?
  • Which accounting standards allow alternative treatments when preparing IFRS financial statements?
  • How are these main standards applied when IFRSs are first adopted?

Learning Objectives

  • Explain how the recognition and measurement principles of the IASB’s Framework apply within the key accounting standards
  • Apply the requirements of the standards to prepare IFRS-compliant financial statements
  • Identify an appropriate accounting policy for a given accounting issue and suggest necessary disclosures
  • List the major 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
  • Assess the impact of major new standards on revenue, leases and financial instruments

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Skill Level: Beginner