Applying IFRS (Online)

This course provides a thorough overview of International Financial Reporting Standards (IFRS) and their importance for businesses. Participants will learn about the necessity of IFRS, the role of the International Accounting Standards Board (IASB), and the value of a Conceptual Framework. Key topics include financial reporting objectives, categorizing income, expenses, assets, and liabilities, transitioning to IFRS, adopting it for the first time, using gap analysis to assess progress, and incorporating financial analysis tools. The course also addresses corporate governance and strategies for staying current with IFRS after adoption.

• Finance Managers and Financial Controllers
• Accountants and Auditors responsible for preparing or reviewing financial statements
• Corporate Finance Teams transitioning to or already reporting under IFRS
• Regulatory and Compliance Officers
• Internal Audit Professionals
• Consultants and Advisors working in financial reporting or corporate governance
• Senior Managers and Executives involved in strategic financial decision-making
• Professionals working in multinational organisations that require understanding of global financial reporting standards

• Understand the importance of IFRS and why businesses across the world are adopting it.
• Explain the role of the IASB in setting international accounting standards and maintaining global consistency.
• Recognise the value of a Conceptual Framework and how it supports coherent financial reporting.
• Identify the main objectives of financial reporting and how they guide the preparation of financial statements.
• Determine appropriate treatments for income and expenses in accordance with IFRS.
• Apply IFRS principles to assets and liabilities, ensuring accuracy and compliance.
• Develop a structured approach to transition to IFRS, including key milestones and readiness assessment.
• Incorporate financial analysis tools such as ratio analysis, trend analysis, and benchmarking to enhance interpretation of IFRS-compliant reports.
• Evaluate the relationship between IFRS and Corporate Governance, and understand additional considerations in IFRS reporting.
• Plan and manage the adoption of IFRS as a first-time initiative, including stakeholder engagement and resource planning.
• Use GAP analysis effectively to assess current reporting standards versus IFRS requirements.
• Establish a system for ongoing compliance and updates to stay aligned with evolving IFRS standards.