Certificate in International Financial Reporting (IFRS Diploma)

Definition of professional certificate: –

The Association of Chartered Accountants (ACCA) in the UK is accredited as is International Financial Reporting. This is a preparatory course where you will get the opportunity to be given an explanation by the lecturer on the use of effective tools. It represented many international candidates for the selection of financial statement registers (IFRS) and looked at the history of the International Standards Board (IASB) through recent changes, updates and future developments, This preparation course emphasizes basic information, provides useful summaries, and examines the standards and breaks them down by topic. It also includes case studies based on real-life examples, exercises, and multiple-choice questions with correct answers. This intensive preparation course helps you take the exam, which you can take at the end of the course or at any time that suits you and your study schedule.

TRAINING OBJECTIVES: –

• Learn the key principles of Conceptual Framework for Financial Reporting.
• Learn the financial reporting standards applicable to key elements of financial statements.
• Learn the disclosure requirements for organisations in financial reports and notes.
• Learn the aspects related to consolidated financial statements including subsidiaries, associates and joint arrangements.

WHO SHOULD ATTEND?

• All accounting professionals involved in the preparation of financial statements.
• Financial controllers, finance managers, financial systems analysts, senior accountants, financial accountants, management accountants, general ledger accountants, assistant accountants, accounts receivable accountants, accounts payable accountants, payroll accountants.
• Decision-makers who depend on timely and accurate financial information.
• Chief Financial Officers (CFOs), finance directors and strategic planners.

TRAINING OUTLINE: –

Ø The International Accounting Standards Board and IFRS Accounting Standards: –

• The origins of the International Accounting Standards Board (IASB®)
• The structure of the IFRS Foundation
• International Accounting Standards (IAS® Accounting Standards), and International Financial Reporting Standards (IFRS® Accounting Standards) that are currently in issue

Ø IFRS Accounting Standards – global convergence and continued development: –

• A brief summary of the adoption of International Financial Reporting Standards (IFRS® Accounting Standards) in different jurisdictions
• The growth of the International Accounting Standards Board (IASB®)

Ø Revenue, presentation and profit: –

• IAS 1 Presentation of Financial Statements
• IFRS 15 Revenue from Contracts with Customers
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.

Ø Accounting for non-current assets: –

• IAS 16 Property, Plant and Equipment
• IAS 40 Investment Property
• IAS 23 Borrowing Costs
• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

Ø Accounting for assets, impairments and grants: –

• IAS 38 Intangible Assets
• IAS 36 Impairment of Assets
• IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
• IAS 2 Inventories

Ø Accounting for leases and specialised assets: –

• IFRS 16 Leases
• IAS 41 Agriculture
• IFRS 6 Exploration and Evaluation of Mineral Resources

Ø Accounting for financial instruments: –

• IAS 32 Financial Instruments: Presentation
• IFRS 9 Financial Instruments
• IFRS 7 Financial Instruments: Disclosures
• IFRS 13 Fair Value Measurement
• IFRS 4 and IFRS 17 Insurance Contracts

Ø Accounting for liabilities: –

• IAS 37 Provisions, Contingent Liabilities and Contingent Assets
• IAS 19 Employee Benefits
• IAS 12 Income Taxes
• IFRS 2 Share-based Payment

Ø Group accounting – part 1: –

• IFRS 10 Consolidated Financial Statements
• IAS 27 Separate Financial Statements
• IFRS 3 Business Combinations

Ø Group accounting – part 2: –

• IFRS 11 Joint Arrangements
• IAS 28 Investments in Associates and Joint Ventures
• IFRS 12 Disclosure of Interests in Other Entities
• IAS 21 The Effects of Changes in Foreign Exchange Rates
• IAS 29 Financial Reporting in Hyperinflationary Economies

Ø Disclosure standards and first-time adoption: –

• IAS 7 Statement of Cash Flows
• IFRS 8 Operating Segments
• IAS 24 Related Party Disclosures
• IAS 33 Earnings Per Share
• IAS 34 Interim Financial Reporting
• IAS 10 Events after the Reporting Period
• IFRS 1 First-time Adoption of IFRS

Ø IFRS Accounting Standards and other reporting frameworks: –

• The IFRS for SMEs Accounting Standard
• The FASB and US GAAP
• Principle differences between IFRS Accounting Standards and US GAAP

Exam Requirements: –

Examination will need to be set under controlled conditions at a IAAP accredited centre.

• 70% passing grade
• The  training languages (English, Arabic).
• Exam available in a range of languages (English, Arabic)
• 3 Hours duration