You will gain a comprehensive understanding of International Financial Reporting Standards (IFRS), their underlying principles, and their practical application in financial reporting. The course covers the IFRS conceptual framework, preparation and presentation of financial statements, accounting for major assets and liabilities, revenue recognition, leases, financial instruments, consolidation, and recent developments in IFRS. Through practical examples, case studies, and exercises, participants will develop the skills needed to prepare, analyze, and interpret IFRS-compliant financial statements while ensuring regulatory compliance and transparency.

Course Objectives

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

• Understand the IFRS framework and key accounting principles.
• Interpret and apply major IFRS standards.
• Prepare IFRS-compliant financial statements.
• Account for assets, liabilities, equity, revenue, and expenses under IFRS.
• Apply IFRS requirements to leases, financial instruments, and business combinations.
• Analyze financial statements prepared under IFRS.
• Identify recent IFRS updates and implementation challenges.
• Improve financial reporting quality and compliance.

Target Audience:

finance managers, financial controllers, accountants, auditors, financial analysts, chief financial officers (CFOs), internal auditors, finance supervisors, treasury professionals, compliance professionals

• Apply the principles and requirements of IFRS in financial reporting.
• Prepare and interpret IFRS-compliant financial statements.
• Account for key transactions in accordance with major IFRS standards.
• Analyze financial statements to support informed decision-making.
• Ensure compliance with international financial reporting requirements.
• Apply professional judgment to address practical financial reporting issues.

Course Methodology:

This training course will be carried out through the use of best practices and the right combination of engaging and purposeful tools such as:

• Case studies and practical exercises
• Workshops and group activities
• Interactive discussions
• Brainstorming
• Energizing team competitions
• Presentations
• Learning games

Module 1: Introduction to International Financial Reporting Standards (IFRS)

• Evolution of global accounting standards
• IAS versus IFRS
• IFRS Foundation and IASB
• Objectives and benefits of IFRS adoption
• IFRS standard-setting process
• Scope and application of IFRS

Module 2: IFRS Conceptual Framework and Financial Statement Presentation

• Objectives of financial reporting
• Qualitative characteristics of useful financial information
• Elements of financial statements
• Recognition and measurement concepts
• IAS 1 – Presentation of Financial Statements
• Statement of Financial Position
• Statement of Profit or Loss and Other Comprehensive Income
• Statement of Changes in Equity
• Statement of Cash Flows
• Notes to the financial statements

Module 3: Accounting for Assets under IFRS

• IAS 16 – Property, Plant and Equipment
• IAS 38 – Intangible Assets
• IAS 36 – Impairment of Assets
• IAS 2 – Inventories
• Recognition, measurement, depreciation, amortization, impairment, and disclosures

Module 4: Revenue, Liabilities, and Leases

• IFRS 15 – Revenue from Contracts with Customers
• Five-step revenue recognition model
• IAS 37 – Provisions, Contingent Liabilities, and Contingent Assets
• IAS 19 – Employee Benefits
• IFRS 16 – Leases
• Recognition, measurement, presentation, and disclosure requirements

Module 5: Financial Instruments and Group Financial Statements

• IFRS 9 – Financial Instruments
• IFRS 7 – Financial Instrument Disclosures
• IFRS 10 – Consolidated Financial Statements
• IFRS 3 – Business Combinations
• Classification, measurement, impairment, hedge accounting, consolidation principles, and acquisition accounting

Module 6: Income Taxes, Cash Flows, and Financial Statement Analysis

• IAS 12 – Income Taxes
• IAS 7 – Statement of Cash Flows
• Financial statement analysis and interpretation
• Ratio analysis and performance evaluation
• Liquidity, profitability, solvency, and efficiency analysis

Module 7: IFRS Updates, Practical Applications

• Recent IFRS amendments and emerging developments
• Common implementation challenges
• Best practices in IFRS adoption and compliance