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International Financial Reporting Standards (IFRS)
and 2011 Update

Program Objectives:

By the end of the program, participants will be able to:

  • Adopt the language of accounting and finance.
  • Develop a sound understanding of the International Financial Reporting Standards (IFRS) and their impact on financial reporting.
  • Properly account for assets, liabilities and owners equity.
  • Effectively interpret accounting transactions according to IFRS.
  • Demystify the interpretation of financial statements and reports.
  • This Program is designed for:

    Professionals in the fields of finance and accounting, and professionals seeking to enhance international accounting knowledge and companies implementing IFRS as the standard of reporting.

    Program Outline:

    Introduction to IFRS Financial Instruments - Assets
  • Financial Reporting Framework
  • The Future Agenda for IFRS
  • IFRS: Current Year Update
  • Cash and Receivables
  • Inventory
  • Property, Plant and Equipment
  • Intangible Assets
  • Investments
  • Statement of Financial Position Liabilities and Stockholders Equity
  • Elements of Statement of Financial Position
  • Forms and Format
  • Classification of Assets
  • Classification of Liabilities
  • Classification of Stockholders Equity
  • Disclosures
  • Current Liabilities
  • Contingencies
  • Long-Term Liabilities
  • Accounting for Debt
  • Capital, Retained Earnings and Reserves
  • Comprehensive Income Revenue Recognition
  • Concept of Income
  • Recognition and Measurement
  • Income Statement
  • Other Comprehensive Income
  • Concepts, Rules and Examples
  • Revenue Recognition Criteria
  • Measurement of Revenue
  • Statement of Changes in Equity
    and Statement of Cash Flows

  • Disclosures and Alternatives
  • Direct versus Indirect Methods
  • Pre-requisites

    None:
    Duration : 4 days

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