This five-day comprehensive workshop focuses on the application of principles in the most commonly used IFRS Accounting Standards. There will be use of illustrations, real-life financial statements and case studies to understand the application and impact of IFRS principles. The course also covers the new IFRS Accounting Standards – IFRS 18 Presentation and Disclosure in Financial Statements and IFRS 19 Subsidiaries without Public Accountability: Disclosures.  This will help participants plan for upcoming changes. In addition, we will review the focus areas of key regulators globally, including the effects of climate-related matters on the financial statements.

By the end of this course, delegates will:

• Obtain an in-depth understanding of the principles in the most commonly used IFRS Accounting Standards as applicable to corporates and financial institutions
• Evaluate the impact on financial statements of the application of IFRSs, including new IFRS accounting standards and recent changes to existing standards
• Review the expectations on reporting matters related to the effects of climate change
• Evaluate the focus areas of key global regulators
• Analyse and interpret IFRS financial statements

The workshop will be useful for staff in finance department, internal and external auditors, regulators, financial and credit analysts who review financial statements and sustainability reports.

A basic understanding of accounting as per any local GAAP is a pre-requisite.

We facilitate learning through a combination of techniques listed below:

• Pre-workshop questionnaire for participants to confirm their expectations
• Presentation of core knowledge and concepts including group discussions
• Real-world case studies to enable learning by doing
• Short case studies to confirm achievement of learning outcomes

Module 1

Introduction

• Overview of IFRS

Presentation of Financial Statements

• Presentation of financial statements (IAS 1)
• Statement of cash flows (IAS 7)
• Basis of preparation of financial Statements (IAS 8)

Non-current Assets

• Property, plant and equipment (IAS 16)
• Investment property (IAS 40)
• Intangible assets (IAS 38)
• Impairment of assets (IAS 36)
• Non-current assets held for sale and discontinued operations (IFRS 5)

Module 2

Liabilities

• Provisions, contingent liabilities and contingent assets (IAS 37)
• Employee benefits (IAS 19)
• Income taxes (IAS 12)

Revenue and Costs

• Revenue from contracts with customers (IFRS 15)
• Inventories (IAS 2)

Foreign Currency

• Effects of changes in foreign exchange rates (IAS 21)

Module 3

Financial Instruments

• Presentation of financial instruments (IAS 32)
• Recognition and measurement of financial instruments (IFRS 9)
• Classification and measurement of financial assets and financial liabilities
• Modifications of financial liabilities
• Expected credit loss impairment model for corporates and financial institutions
• Overview of hedge accounting

Leases

• Lessor and lessee accounting (IFRS 16)

 Module 4

Consolidation

• Business combinations (IFRS 3)
• Consolidated financial statements (IFRS 10)
• Joint arrangements (IFRS 11)
• Investments in Associates and Joint Ventures (IAS 28)
• Separate Financial Statements (IAS 27)

IFRS Updates

• Presentation and Disclosure in Financial Statements (IFRS 18 effective from 2027)
• Key changes from IAS 1 Presentation of Financial Statements
• Subsidiaries without Public Accountability: Disclosures (IFRS 19)
• Amendments to IFRS Accounting Standards for 2025 and onwards
• Focus areas of key global regulators, including the effects of climate-related matters on IFRS financial statements
• Overview of current IASB projects

Review Quiz

RECTUS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration