International Financial Reporting Standards (IFRS)

Name: International Financial Reporting Standards (IFRS)
Price: 17000 AED
Availability: InStock

by Golden Masters for Training & Consultancy

The latest developments in the growing worldwide use of International Financial Reporting Standards (IFRS) • The latest IFRS, Exposure Drafts (ED) and the International Accounting Standards Committee Foundation (IASCF) Improvement Project an

AED 17000

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Duration

5 days

Course Details

The latest developments in the growing worldwide use of International Financial Reporting Standards (IFRS) include:

• The latest IFRS, Exposure Drafts (ED) and the International Accounting Standards Committee Foundation (IASCF) Improvement Project

• Detailed practical examples on the implementation and application of accounting and financial reporting concepts

• Real world challenges to applying IFRS and strategies to overcome them

• Detailed analysis of IFRS 7 (Financial Instruments: Disclosures), IAS 32 (Financial Instruments: Presentation) and IAS 39 (Financial Instruments: Recognition And Measurement)

Course Objective:

The latest developments in the growing worldwide use of International Financial Reporting Standards (IFRS)

• The latest IFRS, Exposure Drafts (ED) and the International Accounting Standards Committee Foundation (IASCF) Improvement Project

• Detailed practical examples on the implementation and application of accounting and financial reporting concepts

• Real world challenges to applying IFRS and strategies to overcome them

• Detailed analysis of IFRS 7 (Financial Instruments: Disclosures), IAS 32 (Financial Instruments: Presentation) and IAS 39 (Financial Instruments: Recognition And Measurement)

Course Certificate:

Masters Consultant Certificate will be issued to all attendees upon course completion.

Course Outline:

Introduction:

• International Accounting Standards Committee Foundation (IASCF) Constitution Proposal for Changes

• The framework for the preparation and presentation of financial statements

• Global convergence

IFRS 1 – First Time Adoption of IFRS

• Objective and scope

• Exemptions and exceptions

• Presentation and disclosure

Financial Statement Presentation (IAS 1, 7, 34; IFRS 2)

• Components of financial statements

• Balance sheet classification issues

• Non-current assets held for sale and discontinued operations

• Income statement presentation

• Statement of changes in equity

• Cash flow statements

Measuring Financial Performance (IAS 8, 24, 33; IFRS 2, 5)

• Accounting policies, accounting estimates and errors

• Earnings per share

• Related party transactions

• Share based payments

Business Combinations (IAS 36, 38; IFRS 5)

• Purchase method

• Identifying the acquirer

• Allocating the cost to net assets

• Recognition and measurement of goodwill

• Transitional provisions

Consolidations Including Foreign Currency Issues (IAS 21, 27, 28, 31)

• Determination of control and consolidation of subsidiaries

• Accounting for associates

• Accounting for joint ventures

• Implementation guidance on IAS 27, 28 and 31

• Functional currencies

• Consolidating foreign subsidiaries

• Foreign currency transactions

Segmental Reporting (IAS 14)

• Identifying reportable segments

• Business and geographical segments

• Meeting the 10% test

• Presentation of segmented data

Revenue Recognition (IAS 11, 18)

• Recognition issues and the concept of substance over form

• Measurement of revenue

• Construction contracts

Tangible Assets (IAS 2, 16, 23, 36)

• Inventory methods

• Lowering of cost and Net Realizable Value (NRV)

• Manufacturing inventories

• Accounting for property, plant and equipment including revaluations

• Depreciation

• Borrowing costs

Intangible Assets (IAS 36, 38; IFRS 3)

• Recognition criteria

• Measurement issues

• Internally developed intangible assets

• Research and development costs

• Intangible assets acquired in a business combination

• Amortization versus impairment

Liabilities, Provisions and Contingencies (IAS 10, 12, 37)

• Recognition criteria for provisions and contingencies

• Constructive and legal obligations

• Discounting deferred payments

• Onerous contracts

• Post balance sheet events

• Deferred tax provisions and assets

Employee Benefits (IAS 19)

• Types of retirement plans

• Factors affecting pension plan assets and liabilities

• Determining the defined benefit obligation

• Actuarial gains and losses including amendments

• Current and past service costs

Impact on Implementation Guidance – Questions and Answers

Scope

• Debt and equity investments

• Loans and receivables

• Own debt

• Cash and cash equivalents

• Derivatives

• Derivatives on subsidiaries, associates and joint ventures

• Embedded derivatives

• Loan commitments held for trading

• Specific exemptions

Debt/Equity Classification

• Overview

• Classification

• Derivatives on own shares

• Transition

Initial Recognition and Classification

• Overview

• Initial recognition

• Classification

• Reclassification of assets between categories

• Embedded derivatives

• Transition

De-Recognition

• Overview

• De-recognition of financial assets

• Consequences of de-recognition or failed de-recognition

• Securitisation

• De-recognition of financial liabilities

• Transition

Subsequent Measurement, Fair Values and Impairment

• Overview

• Subsequent measurement – financial issues

• Subsequent measurement – financial liabilities

• Amortized cost and effective interest method

• Fair value

• Impairment of financial assets

• Transition

Hedge Accounting

• Overview

• Criteria for hedge accounting

• Categories of hedges

• Hedge effectiveness/ineffectiveness

• Discontinuing hedge accounting

• Transition

Disclosures

• Risk management policies and hedging activities

• Terms, conditions and accounting policies

• Interest rate risk

• Other disclosures

Masters Training Company was established in response to the growing need for quality training to support the business community within your Company, Department or Organization by providing a high standard of Training Programs, Courses, Seminars, Workshops and Consultancy Services to employees in a very competitive business environment.

Following the latest trends and ideas in Technology and Management techniques, and with its in-depth knowledge of the business environment, Masters Training Company is able to meet the special requirements of both local and international business throughout the Middle East. Masters Training & Consulting is an independent multinational firm with more than 25 years of experience in helping regional organizations develop their human capital in all fields of management.

Since 1990, we have been entrusted by our clients to provide the most reliable training and consulting products and services in the region. Our innovative and diversified range of training programs and consulting services are designed and delivered by an ever-growing team of full time multilingual consultants experienced in providing solutions relevant to this part of the world and applicable to today’s business challenges.

We pride ourselves on our track record in this regard and on our long-standing relationships with our clients, many of whom have been with us since we started business.

Our public training programs have attracted more than 300,000 participants from almost 3,000 organizations many of whom also entrust us with their needs for bespoke in-company programs. Our client base is steadily growing and so is our commitment to remain the regional leaders in the fields of training and consulting.

Masters is also an approved vendor from KHDA & ILM

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Sheikh Zayed Road Branch

Kherbash Tower, Office # 1803 & 1804, Sheikh Zayed Road, Dubai

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