Description
IFRS – Fundamental Course
Course Overview
International Financial Reporting Standards (IFRS) are the globally recognized accounting principles that ensure financial statements are transparent, comparable, and reliable. As more organizations transition to IFRS, professionals in accounting, finance, and auditing must develop a strong understanding of these standards.
The IFRS – Fundamental Course is designed to equip participants with the core principles, concepts, and applications of IFRS. Whether you are an accountant, finance professional, auditor, or business executive, this course provides practical insights and real-world applications to help you navigate IFRS with confidence. Participants will learn how to apply IFRS to financial statements, understand key accounting treatments, and ensure compliance with international reporting standards.
By the end of the course, you will have a solid foundation in IFRS, enabling you to improve financial reporting accuracy, support business decisions, and stay compliant with global standards.
Who Should Attend?
✔ Accountants and finance professionals
✔ Internal and external auditors
✔ Financial analysts and controllers
✔ CFOs and finance managers
✔ Compliance officers and regulatory professionals
✔ Business owners and executives
✔ Professionals preparing for IFRS certification
Key Learning Outcomes
By the end of this course, participants will be able to: ✔ Understand the IFRS framework and its significance – Learn the core principles, objectives, and scope of IFRS, including its role in enhancing financial transparency, consistency, and comparability across international markets.
✔ Distinguish between IFRS and local GAAP – Identify key differences in recognition, measurement, and disclosure requirements, and understand how these differences impact financial statements, regulatory compliance, and business decision-making.
✔ Prepare IFRS-compliant financial statements – Gain practical skills in structuring and presenting balance sheets, income statements, and cash flow statements according to IFRS requirements, ensuring accurate and standardized financial reporting.
✔ Recognize key accounting treatments under IFRS – Develop a clear understanding of essential IFRS standards, including IFRS 15 (Revenue Recognition), IFRS 16 (Lease Accounting), IFRS 9 (Financial Instruments), and IFRS 13 (Fair Value Measurement), to accurately apply accounting treatments in various financial scenarios.
✔ Ensure IFRS compliance in financial reporting – Learn best practices for implementing IFRS policies within an organization, maintaining compliance with international regulatory standards, and avoiding common errors that could result in financial misstatements or penalties.
✔ Analyze financial statements using IFRS principles – Improve your ability to assess the financial health of a company by interpreting IFRS-compliant financial reports, identifying key financial indicators, and making data-driven strategic decisions.
✔ Stay updated on recent IFRS amendments – Keep pace with the latest changes in IFRS standards, understand their implications for financial reporting, and adapt to new requirements to ensure ongoing compliance and professional relevance.
Course Modules
1. Introduction to IFRS
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The purpose and scope of IFRS
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IFRS vs. local GAAP: Key differences
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The regulatory environment and IFRS adoption worldwide
2. Conceptual Framework for Financial Reporting
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Objectives of financial statements
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Fundamental accounting assumptions and principles
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Qualitative characteristics of useful financial information
3. Financial Statement Presentation under IFRS
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Components of IFRS-compliant financial statements
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IAS 1: Presentation of Financial Statements
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IFRS 1: First-time Adoption of IFRS
4. Recognition and Measurement of Key Accounting Elements
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Revenue recognition (IFRS 15)
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Property, plant, and equipment (IAS 16)
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Financial instruments (IFRS 9)
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Lease accounting (IFRS 16)
5. IFRS Compliance and Transition Strategies
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Implementing IFRS in organizations
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Common challenges and solutions in IFRS adoption
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Ensuring compliance with IFRS reporting standards
Why You Should Attend?
✔ Gain a strong foundation in IFRS and its applications.
✔ Learn how to transition from local GAAP to IFRS.
✔ Understand key financial reporting requirements under IFRS.
✔ Improve compliance and enhance financial decision-making.
✔ Stay ahead with the latest IFRS updates and best practices.
✔ Earn a valuable skill set for career advancement in finance and accounting.
Course Delivery Method
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Instructor-led Training (Virtual or In-Person)
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Practical Case Studies & Real-World Applications
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Group Discussions & Q&A Sessions
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Interactive Exercises & Assessments
