At the end of this course, the participants should be able to:

• Apply IFRS when preparing final accounts.

Definitions

• Holding company
• Subsidiary
• Group
• Power
• Relevant activities
• Consolidated financial statements
• Control
• Non-controlling interest

Conceptual Framework for Financial Reporting

• The Objective Of General Purpose Financial Reporting.
• Qualitative Characteristics Of  Useful Financial Information
• Financial Statements and the Reporting Entity
• The Elements of Financial Statements
• Recognition and Derecognition
• Measurement
• Presentation and Disclosure

IFRS 10

• The objective of the standard and the requirements to achieve it.
• Scope
• Investor's control of the investee
• Power over the work of an investee
• Returns
• Link between power and returns
• Accounting requirements
• Non–controlling interests
• Loss of control
• Determining whether an entity is an investment entity

IFRS 11

• The objective of the standard and the requirements to achieve it.
• Scope
• Joint arrangements
• Joint control
• Types of joint arrangement
• Financial statements of parties to a joint arrangement
• Joint operations
• Joint ventures
• Separate financial statements

IFRS 12

• The objective of the standard and the requirements to achieve it.
• Scope
• Significant judgements and assumptions
• Investment entity status
• Interests in subsidiaries
• The interest that non–controlling interests have in the group’s activities and cash flows
• The nature and extent of significant restrictions
• Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control
• Consequences of losing control of a subsidiary during the reporting period
• Interests in unconsolidated subsidiaries
• Risks associated with an entity’s interests in joint ventures and sister companies