Program Objectives:
With the arrival of IFRS, the global business community now faces a challenge to ensure that it is adequately prepared. The introduction to the standards means that most organizations will need to update their financial policies, processes and systems. That is why the IFRS are needed to cover the needs such as:
• Investors seek investment opportunities all over the world.
• Companies seek capital at the lowest price anywhere.
• Cross-border mergers.
• Accounting differences which completely obscure comparisons.
Program Contents:
The Certificate focuses on broad knowledge and understanding of the International Standards.
• Introduction to IFRS
- Financial reporting framework
- The future agenda for IFRS
- IFRS: current year update
• Statement of Financial Position
- Elements of statement of financial position
- Forms and format
- Classification of assets
- Classification of liabilities
- Classification of stockholders equity
- Disclosures
• Statement of Changes in Equity and Statement of Cash Flows
- Disclosures and alternatives
- Direct versus indirect methods
• Financial Instruments - Assets
- Cash and receivables
- Inventory
- Property, plant and equipment
- Intangible assets
- Investments
• Liabilities and Stockholders' Equity
- Current liabilities
- Contingencies
- Long-Term liabilities
- Accounting for debt
- Capital, retained earnings and reserves
• Revenue Recognition
- Concepts, rules and examples
- Revenue recognition criteria
- Measurement of revenue
Audience:
All users and preparers of financial statements
Key Benefits:
At program completion, participants will be able to:
• Adopt the language of accounting and finance.
• Develop a sound understanding of the International Financial Reporting Standards (IFRS) and their impact on financial reporting.
• Understand the basic principles of assets, liabilities and owners equity.
• Effectively interpret accounting transactions according to IFRS.
• Demystify the interpretation of financial statements and reports.
