Course Description
Dates: 21-25th August, 18-22nd September and 23-27th October 2023
Location: London, UK
Cost: £5000
Including: Pick up and return back to the airport, 5 days meeting rooms, training
& workshops and material booklet.To enquire:
Email: enjy@caclo.co.uk Tel: 00447706008878-----------------------------------------
Introduction:
The global convergence of International Financial Reporting Standards (IFRS) is rapidlygaining momentum for the preparation of financial statements, encompassing both largecorporations and medium-sized companies. The adoption of IFRS is expanding each year asmore countries implement these standards.As a result of the widespread acceptance of IFRS, there is an increasing demand forfinancial professionals who possess not only a solid foundation but also a comprehensiveunderstanding of its intricacies. Given that the IFRS landscape is constantly evolving,professionals are required to stay updated and informed.
About The Conference:
This comprehensive 5-day program offers an up-to-date overview of IFRS reportingrequirements, presenting the standards from a practical, technical, and commercialperspective. Real-life company challenges will be examined, and participants will have theopportunity to explore various commercial concepts through the use of Excel models, whichwill be provided as valuable take-away resources.The conference aims to enhance participants' knowledge and skills in comprehending andapplying accounting standards and the theoretical framework in the preparation of financialstatements for entities, including groups. It will also cover the analysis and interpretation ofthese financial statements. Complex International Accounting Standards (IAS) andInternational Financial Reporting Standards (IFRS) will be explored in detail. By completingthis course, participants will gain a broader and deeper understanding of accounting andfinancial reporting, equipping them to tackle the challenges they may encounter in thedynamic world of finance.
Objectives:
Upon completion, you will achieve the following learning outcomes:• Gain a comprehensive understanding of the IFRS standards through practicalexplanations and illustrative examples.• Acquire knowledge of how financial statement consolidation is carried out using theprinciples of IFRS 10.• Familiarise yourself with the new Revenue standard (IFRS 15) and comprehend itsapplication in financial reporting.• Receive the actual IAS and IFRS standards utilised in the course, allowing you toengage in further reading and review while the instructor elucidates the concepts.
Target Audience:
The following professionals can benefit from the International Financial Reporting Standards(IFRS) conference:• Professionals involved in financial analysis.• Individuals working in accounting roles.• Managers responsible for portfolio management• Analysts specialising in securities.• Experts in credit and investment analysis• Managers overseeing pension funds.• Auditing professionals
Conference outline:
Day 1:
Welcome Speech 9.30am – 10.00amMorning Session: 10.00am – 12.30pm
Introduction to IFRS:• Overview of IFRSs• Concise historical background of IFRSs• Conceptual Framework in IFRS
Content of IFRS Financial Statements:• Presentation of financial statements according to IAS 1• Understanding the Statement of Cash Flows (IAS 7)• Accounting policies, changes in accounting estimates, and errors (IAS 8)• Handling discontinued operations (IFRS 5)• Events occurring after the reporting period (IAS 10)• Insights into operating segments (IFRS 8)• Disclosures on related parties (IAS 24)• Interim financial reporting (IAS 34)• Value measurement according to IFRS 13
Lunch Break: 12.30pm – 13.30pmAfternoon Session: 13.30pm – 16.00pm
Assets:
• Understanding Inventories (IAS 2)• Property, Plant & Equipment (IAS 16)• Treatment of Borrowing Costs (IAS 23)• Intangible Assets (IAS 38)• Investment Property (IAS 40)• Impairment of Assets (IAS 36)
Day 2:
Morning Session: 9.30am – 12.30pmLiabilities:• Lease Accounting (IFRS 16)• Employee Benefits (IAS 19)• Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)• Share-Based Payment (IFRS 2)
Financial Instruments:• Financial Assets and Liabilities, Hedging, and Derivatives (IAS 32, IAS 39, IFRS 9)• Disclosures for Financial Instruments (IFRS 7)Lunch Break: 12.30pm – 13.30pmAfternoon Session: 13.30pm – 16.00pm
Income Taxes:• Understanding Income Taxes (IAS 12)Revenue:• Revenue Recognition from Contracts with Customers (IFRS 15)
Foreign Currency Issues:• Effects of Changes in Foreign Exchange Rates (IAS 21)
Business Combinations, Consolidations, Associates & Joint Arrangements:• Business Combinations (IFRS 3)• Consolidated Financial Statements (IFRS 10)• Separate Financial Statements (IAS 27)• Investments in Associates and Joint Ventures (IAS 28)• Joint Arrangements (IFRS 11)• Disclosure of Interests in Other Entities (IFRS 12)
Transitioning to IFRSs:
• First-time Adoption of IFRSs (IFRS 1)
Expected Future Developments:
• ASB Work Plan (Work plan of the Accounting Standards Board)
Day 3:
Workshop in IFRS Financial Statements analysis.
Day 4:
Workshop in IFRS Financial Statements applications.
Day 5:
Site visit at a relevant organisation.
