Description

IFRS Conversion Training

Course Overview:

As financial reporting standards evolve, organizations must stay compliant with the International Financial Reporting Standards (IFRS) to maintain transparency, comparability, and global credibility. Transitioning from local GAAP (Generally Accepted Accounting Principles) to IFRS can be complex, requiring a deep understanding of the principles, practical application, and regulatory requirements.

This IFRS Conversion Training is designed to help finance professionals, accountants, auditors, and business leaders smoothly transition to IFRS. The course provides a step-by-step approach to IFRS implementation, covering key standards, financial statement adjustments, disclosure requirements, and common challenges in conversion. By the end of this training, participants will be well-equipped to handle IFRS compliance and improve the financial reporting process within their organizations.

Whether you are working in a private or public sector organization, this training will empower you with the necessary knowledge and practical skills to navigate the IFRS landscape confidently.

Who Should Attend?

This training is ideal for:

• Accountants and finance professionals

• Auditors and tax consultants

• CFOs, financial managers, and controllers

• Business owners and entrepreneurs

• Compliance officers and regulatory professionals

• Government and public sector finance teams

Key Learning Outcomes

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

✔ Understand the key differences between local GAAP and IFRS – Gain a clear understanding of how IFRS differs from local Generally Accepted Accounting Principles (GAAP) and the implications of transitioning to IFRS. Learn how these differences impact financial reporting, asset valuation, revenue recognition, and financial disclosures.

✔ Apply IFRS principles to financial statements and disclosures – Develop the ability to prepare and present financial statements that comply with IFRS requirements. Understand how to structure balance sheets, income statements, cash flow statements, and equity reports in accordance with IFRS standards, ensuring transparency and global comparability.

✔ Identify the major challenges in IFRS conversion and how to overcome them – Recognize common hurdles in transitioning from local GAAP to IFRS, such as data inconsistencies, accounting policy changes, tax implications, and software limitations. Learn practical strategies and best practices to manage and mitigate these challenges efficiently.

✔ Implement IFRS-compliant accounting policies and procedures – Establish accounting policies that align with IFRS, including revenue recognition, lease accounting, financial instruments classification, and impairment assessment. Learn how to adapt internal controls and financial processes to maintain compliance with IFRS regulations.

✔ Improve financial transparency and decision-making through IFRS reporting – Leverage IFRS financial reporting to enhance corporate governance, investor confidence, and strategic decision-making. Learn how accurate and standardized reporting can improve business credibility, attract foreign investment, and facilitate better financial planning.

✔ Stay updated on recent IFRS amendments and their impact on businesses – Keep up with the latest developments in IFRS standards, including key updates in IFRS 9 (Financial Instruments), IFRS 15 (Revenue Recognition), IFRS 16 (Lease Accounting), and IFRS 17 (Insurance Contracts). Understand how these changes affect financial reporting, compliance obligations, and overall business operations.

Course Modules:

1. Introduction to IFRS and the Need for Conversion:

• Understanding the IFRS framework and global adoption trends

• Key benefits of IFRS for businesses and investors

• IFRS vs. local GAAP: Key differences and challenges

2. The IFRS Conversion Process:

• Planning and executing a smooth IFRS transition

• Identifying and mapping differences between GAAP and IFRS

• Financial statement adjustments and restatement strategies

3. Key IFRS Standards for Conversion:

• IFRS 1: First-time Adoption of IFRS

• IFRS 9: Financial Instruments

• IFRS 15: Revenue from Contracts with Customers

• IFRS 16: Leases

• IFRS 17: Insurance Contracts (for relevant businesses)

4. Financial Reporting and Disclosure Requirements:

• IFRS-compliant financial statement presentation

• Disclosure obligations and their impact on stakeholders

• IFRS-compliant notes to financial statements

5. Practical Challenges and Solutions in IFRS Conversion:

• Handling data gaps and system adjustments

• Dealing with tax and regulatory implications

• Managing change and staff training for IFRS adoption

6. Recent IFRS Updates and Future Trends:

• Key amendments to IFRS in recent years

• How evolving IFRS standards impact financial reporting

• Preparing for future changes in financial reporting regulations

Delivery Mode

• Live Instructor-led Training (Virtual or In-Person)

• Case Studies & Practical Exercises

• Real-world IFRS Conversion Examples

• Interactive Q&A Sessions

Why You Should Attend:

✔ Gain in-depth knowledge of IFRS conversion from experts
✔ Learn practical steps to implement IFRS in your organization
✔ Stay ahead of regulatory changes and enhance compliance
✔ Improve the credibility and comparability of your financial reports
✔ Network with professionals facing similar financial reporting challenges

Call to Action – Register Now!

Don’t let IFRS conversion be a challenge for your business! Gain the expertise you need to transition smoothly and ensure compliance with global financial reporting standards.

📞 Call 08035062583 for more inquiries
💬 Chat with us on WhatsApp at 09077905913

Seats are limited, so secure your spot today!