Overview
International Financial Reporting
Standards (IFRS) are a set of accounting standards
designed to establish a common framework for the preparation and presentation
of financial statements. IFRS Reporting provides a structured approach for
recognizing, measuring, presenting, and disclosing financial information so
that users can make informed economic decisions.
IFRS is developed by the International
Accounting Standards Board (IASB) and is used or permitted in many
jurisdictions around the world. The standards seek to improve the comparability,
transparency, consistency, and quality of financial reporting.
IFRS reporting is particularly
important for organizations that operate across borders, access international
capital markets, have foreign investors, or are part of multinational groups.
It also provides a common accounting language that enables investors, lenders,
regulators, management, and other stakeholders to evaluate financial
performance and financial position more effectively.
Target Participants:
- Finance Managers
- Accountants
- Auditors
- Financial Analysts
- Internal Auditors
- Public Sector Finance Officers
- University Lecturers and Researchers
- MBA/PhD Students in Accounting and Finance
Day 1: Introduction to IFRS Reporting
Topics
- History of IFRS
- IFRS Foundation
- IASB structure
- IFRS adoption worldwide
- Benefits and challenges of IFRS
- IFRS vs Local GAAP
Day 2: IFRS Conceptual Framework
Topics
- Objective of financial reporting
- Qualitative characteristics
- Elements of financial statements
- Recognition criteria
- Measurement bases
- Capital maintenance concepts
Day 3: Presentation of Financial Statements (IAS 1)
Topics
- Statement of Financial Position
- Statement of Profit or Loss
- Other Comprehensive Income
- Statement of Changes in Equity
- Cash Flow Statement
- Notes to the Financial Statements
- Materiality
- Going Concern
- Fair Presentation
Day 4: Revenue, Inventory and Property
Topics
IFRS
15 Revenue from Contracts with Customers
- Five-step revenue model
- Contract modifications
- Variable consideration
IAS
2 Inventories
- Cost formulas
- Inventory valuation
- Net realizable value
IAS
16 Property, Plant and Equipment
- Recognition
- Depreciation
- Revaluation model
- Derecognition
Day 5: Financial Instruments and Leases
IFRS
9 Financial Instruments
- Classification
- Measurement
- Expected Credit Loss Model
- Impairment
- Hedge accounting
IFRS
16 Leases
- Lease identification
- Right-of-use assets
- Lease liabilities
- Lessee accounting
- Lessor accounting
Day 6: Employee Benefits, Provisions and Income Taxes
IAS
19 Employee Benefits
- Short-term benefits
- Defined contribution plans
- Defined benefit plans
IAS
37
- Provisions
- Contingent liabilities
- Contingent assets
IAS
12 Income Taxes
- Current tax
- Deferred tax
- Temporary differences
Day 7: Consolidated Financial Statements
IFRS
10
- Control
- Parent and subsidiary
- Consolidation procedures
IFRS
3 Business Combinations
- Acquisition accounting
- Goodwill
- Bargain purchase
IAS
28 Investments in Associates
- Equity method
IFRS
11 Joint Arrangements
Day 8: Cash Flow Reporting and Financial Statement
Analysis
IAS
7 Statement of Cash Flows
- Operating activities
- Investing activities
- Financing activities
Financial
Statement Analysis
- Liquidity ratios
- Profitability ratios
- Solvency ratios
- Efficiency ratios
- Trend analysis
- Common-size statements
Day 9: IFRS Disclosures and Emerging Issues
Topics
- IFRS disclosure requirements
- Segment reporting (IFRS 8)
- Earnings per Share (IAS 33)
- Related party disclosures (IAS 24)
- Fair value measurement (IFRS 13)
- Sustainability reporting overview
- ESG reporting
- Digital financial reporting (XBRL)
- Recent IFRS amendments
Day 10: Integrated IFRS Reporting Workshop
Participants work in teams to:
- Prepare complete IFRS financial statements.
- Develop accounting policies.
- Prepare disclosure notes.
- Perform financial statement analysis.