International Financial Reporting Standards (IFRS)

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Why Attend

This course offers a broad introduction to International Financial Reporting Standards (IFRS). The course begins by tracing the history of the International Accounting Standards Board (IASB) from its early roots to the most recent changes and provides updates on future developments. In addition, this course underlines key information, provides useful summaries, and examines specific standards topic-by-topic. It includes case studies that are based on real-life examples, exercises, multiple-choice questions, and sample answers for you to test your knowledge as you progress through the course.

Course Methodology

This preparation course uses a mix of interactive techniques such as brief presentations by the consultant, application of theories, group exercises, case studies, and discussions.

Course Objectives

By the end of the course, participants will be able to:

  • Describe how IFRS is used around the world
  • Explain how the IASB works and how standards are developed
  • Examine the fundamental requirements of IFRS on a standard-by-standard basis
  • Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS
  • Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions
  • Guide their staff and department on how to use IFRS in practice

Target Audience

If you are a professional accountant or auditor seeking to enhance your international accounting knowledge then this is the qualification for you. You do not need to have any experience or formal qualifications in accounting and auditing to apply for this course.

Target Competencies

  • Understanding financial statement accounts
  • Financial reporting for account balances and transactions
  • Applying IFRS
  • Describing updates and amendments
  • Accounting for assets
  • Accounting for liabilities

Location:

South Africa

Training Dates:

Each course starts every Monday of each week. Please book your training on a date that is a Monday.

Course Duration:

Unit Standard:

NQF Level:

Number of Credits:


Course Fees

Note: Please fill in the online application form on the left or bottom if this page to receive a quotation with detailed pricing from AATICD.

How to Apply:

To Apply Simply Fill in the Online Enquiries / Applications form on the Right Sidebar or Bottom of this website https://www.aaticd.co.za

NB:

When filling the online application form; please take note of your desired Training Month, Duration in Weeks and Training Session. This will give us the exact dates you will be attending your classes.

Also note that Tuition Fees must be paid upfront on or before training start date. This is to ensure that all resources are made availabe for you before you start. You will not be allowed into training if fees are not paid and verified.

Also note that Tuition Fees Cancellations must be made 14 business working days before the starting date of training. This will allow us to do a 50% refund of the total amount paid. If cancellations are made thereafter note that no refund will be made to delegates.

Tuition Fees include teas and lunch as well as either a laptop or tablet which a delegate will take home free of charge.

Tuition Fee DOES NOT include Accommodation, Dinners and other Extra Curricular Activities or Incidentals. Delegates are expected to fund this on their own. AATICD will not be held accountable for any incidents to delegates.

In-House Trainings are also available for 3 or more delegates for any duration. Please consult with our Administration for such In-House training bookings.

Course Outline

  • The nature and operations of the International Accounting Standards Board (IASB)
    • The origins of the IASB
    • The structure of the IFRS Foundation
    • IAS and IFRSs that are currently an issue
    • The conceptual framework for financial reporting
  • The status and use of IFRSs around the world
    • A brief summary of the adoption of IFRS in different jurisdictions
    • The growth of IASB and IFRS standards
    • IFRS standards and small and medium-sized entities
  • Presentation and profit
    • IAS 1, presentation of financial statements
    • IFRS 15, revenue from contracts with customers
    • IAS 8, accounting policies, changes in accounting estimates and errors
  • Accounting for assets and liabilities – part 1
    • IAS 16, property, plant and equipment
    • IAS 38, intangible assets
    • IAS 40, investment property
    • IAS 36, impairment of assets
    • IAS 23, borrowing costs
    • IAS 20, accounting for government grants and disclosure of government assistance
    • IAS 2, inventories
    • IFRS 16, leases
    • IFRS 5, non-current assets held for sale and discontinued operations
  • Accounting for assets and liabilities – part 2
    • IFRS 13, fair value measurement
    • IFRS 32, financial instruments – presentation
    • IFRS 9, financial instruments
    • IFRS 7, financial instruments: disclosures
    • IAS 37, provisions, contingent liabilities and contingent assets
    • IAS 10, events after the reporting period
    • IAS 19, employee benefits
    • IAS 12, income taxes
    • IFRS 2, share-based payment
    • IAS 41, agriculture
    • IFRS 6, exploration for and evaluation of mineral resources
  • Group accounting
    • IFRS 10, consolidated financial statements
    • IAS 27 (revised 2011), separate financial statements
    • IFRS 3, business combinations
    • IAS 28 (revised 2011), investments in associates and joint ventures
    • IFRS 11, joint arrangements
    • IFRS 12, disclosure of interests in other entities
    • IAS 21, the effects of changes in foreign exchange rates
    • IAS 29, financial reporting in hyperinflationary economies
  • Disclosure standards
    • IAS 7, statement of cash flows
    • IAS 24, related party disclosures
    • IAS 33, earnings per share
    • IAS 34, interim financial reporting
    • IFRS 4, insurance contracts
    • IFRS 1, first-time adoption of IFRS
    • IFRS 8, operating segments
    • Principal differences between UK/US GAAP and IFRS
    • Current issues in IFRS standards