An Intensive 5-day Training Course
International Financial Reporting Standards (IFRS)
Mastering Global Accounting Standards for Financial Reporting
CLASSROOM DATES
INTRODUCTION
The distinctions between Generally Accepted Accounting Principles (GAAP), primarily established by the Financial Accounting Standards Board (FASB), and International Financial Reporting Standards (IFRS), developed by the International Accounting Standards Board (IASB), are diminishing rapidly. As of recent updates, over 140 countries now mandate or permit IFRS use, reflecting its global adoption and significance. IFRS has become the most widely accepted and applied accounting framework globally.
This comprehensive EuroMaTech training course will provide participants with in-depth knowledge and understanding of:
- The fundamental concepts of accounting and financial reporting disclosures, including reconciling and non-reconciling differences between GAAP and IFRS.
- The structure, scope, components, and disclosures required in IFRS-compliant financial statements.
- The principles of measurement and recognition for various elements of international accounting standards, including transitional challenges.
- Revenue recognition and related financial reporting requirements.
TRAINING OBJECTIVES
By completing this IFRS training course, participants will enhance their knowledge and analytical capabilities regarding IFRS, achieving the following outcomes:
- Understanding current and future IFRS requirements, including recent developments in IFRS 16 (Leases) and amendments to IFRS 17 (Insurance Contracts).
- Applying IFRS standards to prepare compliant financial statements, selecting appropriate accounting policies, and preparing detailed footnote disclosures.
- Recognizing and applying the measurement principles outlined in the IASB’s Framework across various standards.
- Managing the transition process to IFRS, utilizing exemptions and understanding exceptions applicable to transitioning organizations.
- Analyzing standards that mandate or permit fair value measurement, including comparisons with U.S. Financial Accounting Standards Nos. 157 and 159, and addressing recognition, measurement, and presentation issues.
WHO SHOULD ATTEND?
- Accounting Professionals
- Financial Executives
- Auditors
- Financial Analysts
- Bankers
- Investment Bankers
- Any other professionals involved in the preparation, presentation, implementation or analysis of financial statements prepared in accordance with International Finance Reporting Standards (IFRS).
TRAINING METHODOLOGY
The EuroMaTech interactive IFRS training course provides a clear and practical understanding of IASB technical requirements, supplemented by:
- A review of the rationale and objectives of IASB standards.
- Active participation through direct instruction, case studies, practical exercises, and discussions.
- Incorporation of case studies on recent IFRS updates, including IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Customers).
TRAINING SUMMARY
This detailed training course equips participants with a thorough understanding of international accounting standards, terminology, and applications. Recent additions focus on IFRS amendments and updates, providing participants with current insights and tools for practical application. Participants will gain insights into IFRS origins, achievements, and future developments, enabling them to contribute meaningfully to their organizations’ adoption and utilization of these global standards.
TRAINING OUTLINE
Day 1: Evolution of International Accounting Standards
- Introduction to IFRS
- History, Overview, and Future Standards
- Roles of Key Accounting Standards-Setting Bodies
- Objectives and Structure of the IASB
- Framework, Demand, and Adoption of IFRS
- Convergence
- Historical Context
- Benefits, Challenges, and Issues
- IASB/FASB Projects
- U.S. SEC Adoption Timeline and Activities
Day 2: Structural Framework for Financial Statement Preparation and Presentation
- Objectives and Impact on Financial Statement Audits
- Scope, Structure, and Content of IFRS Financial Statements
- Accounting Policies and Underlying Assumptions
- Components and Qualitative Characteristics of Financial Statements
- Measurement and Recognition of Financial Statement Elements
- Transition Concerns and Planning
Day 3: Preparation and Presentation of IFRS Financial Statements
- General and Specific Financial Statement Structures
- IAS 1 Overview
- Balance Sheet
- Income Statement
- Statement of Changes in Equity or Statement of Recognized Income and Expense (SORIE)
- Statement of Cash Flows
- Consolidation Criteria and Requirements
- Notes to Financial Statements and Related Disclosures
- Revenue Recognition and Reporting Standards
Day 4: Conversion Preparation to IFRS
- Accounting Treatment Differences
- Inventory
- Fixed Assets
- Valuation and Revaluation
- Depreciation
- Deferred Taxes
- Contingencies
- Comprehensive Assessments
- Accounting and Tax Implications
- Process and Infrastructure Considerations
- Implementation Planning
- Conversion Challenges
- Technical Accounting and Tax Issues
- Supporting Infrastructure and Organizational Changes
- Developing Strategic Change Management Plans
- Post-Conversion Maintenance
- Supporting Processes
- Execution Strategies
- Comparative Analyses of Adopters vs. Non-Adopters
Day 5: Impact of IFRS on Financial Statement Interpretations
- International Accounting Diversity Considerations
- Financial Analysis Techniques
- Common Size Statements
- Trend and Ratio Analysis
- DuPont Analysis
- Z-Scores and Investment Ratios
- Cash Flow Ratios
- Peer Group and Industry Comparisons
- Corporate Governance and IFRS Best Practices
- Integration of ESG (Environmental, Social, and Governance) Reporting with IFRS Standards.
- Future Trends and Developments in IFRS
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
This training course is also part of the 10-day titles:
FAQ
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
