IFRS International Accounting Standards

Ref	FI 640	FI 240	FI 390	FI 620
Dates	5 - 9 December 2010	11 - 15 April 2011	18 - 22 July 2011	26 - 30 December 2011
Venue	Dubai	Kuala Lumpur	Amsterdam	Kuala Lumpur
Fees	US$ 3850	US$ 4450	US$ 4450	US$ 4450
CPE Credits	30	30	30	30

INTRODUCTION

In a global and increasingly competitive post-Enron world, the need for Corporate Governance and International Financial Reporting Standards is all too evident.  Delegates will develop a clear understanding of the essential skills required to both prepare and analyse financial statements in accordance with IFRS, which will enable you to:

• Improve your role in the workplace
• Increase your awareness of the major issues facing your business
• Enable you to further your professional skills
• Enable you to liaise effectively with line managers and other departments
• Improve your status in the organisation as those around you realise and appreciate your knowledge and understanding

WHO SHOULD ATTEND?

• Those directly responsible for the preparation of financial statements
• Professionals with accounting and financial responsibilities
• Financial decision makers, whose techniques of decision making and analysis will be improved through attendance
• Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making thereby ensuring shared values within the organisation
• Analysts whose role involves evaluating and identifying market and competitive trends

PROGRAMME OBJECTIVES

• Become aware of the Case for Corporate Governance and International Financial Reporting Standards
• Identify the Creative Methods adopted by companies when preparing their financial statements
• Appreciate the Lessons Learnt from the Enron Case
• Gain an understanding of the Structure of IFRS
• Become aware of the International Adoption of IFRS, Current Issues/IFRS Convergence Projects and the  Problems of Convergence
• Be able to Present Financial Statements in accordance with IFRS

  • Balance Sheet

  • Income Statement
  • EITHER a Statement of Changes in Equity OR A Statement of Recognised Income or Expense ("SORIE")
  • A Cash Flow Statement
  • Notes, including a Summary of the Significant Accounting Policies
  • Gain an understanding of the major IFRS
  • Be able to evaluate and analyse financial statements and the impact of IFRS

TRAINING METHODOLOGY

The training session will be conducted along workshop principles with formal lectures, case studies and interactive worked examples.   Participants will be actively engaged, individually and as part of a group, in the preparation and analysis of financial statements in accordance with IFRS and will discuss the implications of IFRS on multi-national and international companies.  Participants will also be given a detailed set of handouts and examples of various software that will enable them to review the topics covered at a later date.

PROGRAMME SUMMARY

The organisation will gain from staff who as a result of participation will:

• Contribute more effectively
• Improve their decision making
• Develop a detailed understanding of IFRS and their implications
• Appreciate the importance of corporate governance
• Be motivated to add value to their role for the good of the organisation

The programme will focus on the following areas through the outline of terminology and procedures and the use of real world case studies:

• The role and importance of corporate governance
• preparation of financial statements in accordance with IFRS

PROGRAMME OUTLINE

DAY 1 - Corporate Governance and International Financial Reporting Standards (IFRS)

• Establishing the Case for Corporate Governance and International Financial Reporting Standards
• Creative Accounting
• Enron and the Lessons Learnt
• Corporate Governance
• The Structure of IFRS:

  • International Financial Reporting Standards
  • International Accounting Standards
  • Interpretations
  • Standing Interpretations Committee
• The International Adoption of IFRS
• Current Issues/IFRS Convergence Projects
• The Problems of Convergence

DAY 2 - The Framework for the Preparation and Presentation of Financial Statements

• Purpose and Status
• Scope
• Objective
• Underlying Assumptions
• Qualitative Characteristics of Financial Statements
• Elements of Financial Statements
• Recognition of Elements of Financial Statements
• Measurement of the Elements of Financial Statements

DAY 3 & 4 - The Presentation of Financial Statements in accordance with IFRS

• Balance Sheet
• Income Statement
• EITHER A Statement of Changes In Equity OR A Statement of Recognised Income or Expense ("SORIE")
• A Cash Flow Statement
• Notes, including a Summary of the Significant Accounting Policies

DAY 5 - The Interpretation of Financial Statements and the impact of IFRS

• Financial Analysis

  • Common Size Statements
  • Trend Analysis
  • Ratio Analysis
  • Du-Pont Analysis
  • Z scores
  • Investment Ratios
  • Cashflow Ratios
  • Peer Group/Industry comparison
  • Sensitivity and Scenario Analysis
• International Accounting Diversity
• Comparative analysis of companies adopting IFRS and those not adopting IFRS
• The Impact of IFRS on accounting diversity
• The Case for further IFRS
• Summary
  • This case for Corporate Governance & International Financial Reporting Standards and the preparation and evaluation of financial statements written in accordance with IFRS

 

 

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