Training Course on International Financial Reporting Standards IFRS

Training Course on International Financial Reporting Standards IFRS

As the global business environment evolves, the need for standardized financial reporting becomes increasingly crucial. The "International Financial Reporting Standards (IFRS) Training" course is designed to provide finance professionals with a comprehensive understanding of IFRS principles, applications, and the implications of transitioning from local accounting standards to IFRS. This training equips participants with the necessary skills to enhance transparency, consistency, and comparability in financial statements, aligning with global best practices.

This course covers essential IFRS topics, including recognition and measurement of assets, liabilities, income, and expenses. Participants will engage in practical case studies to explore real-world scenarios and understand the nuances of financial reporting under IFRS. With a focus on interactive learning, this training emphasizes the application of IFRS in diverse business contexts, enabling participants to navigate complex accounting challenges with confidence and accuracy.

Organizations that invest in IFRS training can significantly improve their financial reporting processes, reduce compliance risks, and enhance stakeholder confidence. Adopting IFRS fosters trust and credibility among investors, regulators, and other stakeholders, ultimately leading to improved financial performance. By equipping their finance teams with IFRS knowledge, organizations can streamline their reporting processes, ensure regulatory compliance, and effectively communicate financial performance to a global audience.

This course is ideal for accountants, auditors, financial analysts, and finance managers seeking to deepen their understanding of IFRS. Participants will leave with a solid foundation in IFRS standards, practical skills in financial reporting, and the ability to apply these standards effectively in their organizations.

Duration: 5 Days

 

Course Objective

1. Understand the framework and principles of IFRS.
2. Gain knowledge of key IFRS standards and their applications.
3. Learn the differences between IFRS and local GAAP.
4. Develop skills in preparing and analyzing IFRS-compliant financial statements.
5. Recognize the impact of IFRS on financial reporting and decision-making.
6. Understand the challenges of transitioning to IFRS from local standards.
7. Enhance knowledge of IFRS disclosure requirements.
8. Improve skills in interpreting and applying IFRS in various contexts.
9. Learn about recent updates and changes in IFRS standards.
10. Foster ongoing professional development in international financial reporting.

 

Organizational Benefits

1. Improved accuracy and transparency in financial reporting.
2. Enhanced compliance with international accounting standards.
3. Increased credibility and trust among investors and stakeholders.
4. Streamlined financial reporting processes and reduced risks.
5. Better decision-making based on reliable financial information.
6. Improved financial performance through standardized reporting.
7. Enhanced competitiveness in the global marketplace.
8. Increased confidence in dealing with international transactions.
9. Strengthened skills and knowledge of finance teams.
10. Greater alignment with global best practices in accounting.

Target Participants

This course is ideal for:

• Accountants and financial professionals.
• Auditors and compliance officers.
• Financial analysts and managers.
• CFOs and finance directors.
• Individuals preparing for roles involving international financial reporting.

Course Outline

Module 1: Introduction to IFRS

1. Overview of IFRS: history and development.
2. The importance of IFRS in global finance.
3. Understanding the conceptual framework of IFRS.
4. Case study on the impact of IFRS adoption.
5. Practical exercises in IFRS basics.

Module 2: Key IFRS Standards

1. Detailed study of IFRS 1: First-time Adoption of IFRS.
2. Overview of IFRS 9: Financial Instruments.
3. Understanding IFRS 15: Revenue from Contracts with Customers.
4. Key aspects of IFRS 16: Leases.
5. Case study on the application of key IFRS standards.

Module 3: Preparing IFRS-Compliant Financial Statements

1. Structure and components of IFRS financial statements.
2. Recognition and measurement of assets and liabilities.
3. Presentation and disclosure requirements under IFRS.
4. Case study on preparing IFRS financial statements.
5. Practical exercises in financial statement preparation.

Module 4: Transitioning to IFRS

1. Challenges of transitioning from local GAAP to IFRS.
2. Strategies for a successful transition.
3. Understanding the role of accounting policies in transition.
4. Case study on a successful IFRS transition.
5. Practical exercises in transition planning.

Module 5: Disclosure Requirements under IFRS

1. Understanding the importance of disclosures in financial reporting.
2. Key disclosure requirements for various IFRS standards.
3. Best practices for effective financial statement disclosures.
4. Case study on disclosure practices under IFRS.
5. Practical exercises in preparing disclosures.

Module 6: Current Trends and Future Developments in IFRS

1. Overview of recent updates and changes in IFRS.
2. Implications of changes for financial reporting practices.
3. Future developments in international accounting standards.
4. Case study on the impact of recent IFRS updates.
5. Discussions on emerging trends in financial reporting.

Methodology

Participants will enhance their ability to prepare accurate and transparent financial statements, navigate complex regulatory environments, and foster trust among stakeholders. As organizations continue to embrace international standards, this training not only prepares individuals for the challenges of financial reporting but also positions them as valuable assets within their companies.

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

Register as a group from 3 participants for a Discount

Send us an email: [email protected] or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.