International Financial Reporting Standards
Course Overview
Course Objectives
- Understand current IFRS requirements and forthcoming changes, including the SOCPA-IFRS convergence roadmap
- Apply IFRS principles to prepare compliant financial statements with accurate disclosures
- Interpret recognition and measurement criteria under IFRS in alignment with SOCPA standards
- Analyze fair value measurement principles and their impact on reporting
- Implement best practices for IFRS adoption and compliance across in dustries
Course Audience
- Accounting professionals
- Financial managers and controllers
- Auditors and internal audit staff
- Financial analysts
- Bankers and investment bankers
- Professionals involved in preparing, presenting, implementing, or analyzing IFRS-compliant financial statements
Course Methodology
This program will be delivered through an interactive approach, covering IFRS and SOCPA requirements in a clear, practical manner. Learning will be reinforced through:
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Direct instruction
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Case studies and examples
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Group discussions and exercises
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Practical application of standard
Course Outline
Day 1 :Evolution of IFRS and Financial Reporting
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Introduction, history, and future of IFRS
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IASB–SOCPA convergence
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Framework for preparing and presenting financial statements (SOCPA scope and structure)
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IAS 1: Presentation of Financial Statements
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IAS 7: Statement of Cash Flows
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IAS 8: Accounting Policies, Changes in Accounting Estimates, and Errors
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IAS 37: Provisions, Contingent Liabilities, and Contingent Assets
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IAS 10: Events After the Reporting Period
Day 2 :Recognition and Measurement of Non-Current Assets
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IAS 16: Property, Plant, and Equipment (valuation, revaluation, depreciation)
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IAS 38: Intangible Assets
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IAS 36: Impairment of Assets
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IFRS 5: Non-Current Assets Held for Sale and Discontinued Operations
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IAS 40: Investment Property
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Case studies
Day 3 :IFRS Impact on Financial Statements (Part 1)
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IAS 2: Inventories
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IAS 12: Income Taxes
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IAS 21: Effects of Changes in Foreign Exchange Rates
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IAS 23: Borrowing Costs
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IFRS 6: Exploration for and Evaluation of Mineral Resources
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IAS 24: Related Party Disclosures
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IAS 20: Government Grants and Assistance
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Case studies
Day 4 :Financial Instruments and IFRS Impact (Part 2)
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IFRS 9: Financial Instruments
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IAS 32: Presentation of Financial Instruments
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IAS 39: Recognition and Measurement
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IFRS 7: Disclosures of Financial Instruments
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IFRS 13: Fair Value Measurement
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IAS 33: Earnings Per Share
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Case studies
Day 5 :Consolidated Reporting, New Standards, and Practical Applications
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IAS 28: Investments in Associates and Joint Ventures
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IFRS 3: Business Combinations
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IAS 27: Separate Financial Statements
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IFRS 10: Consolidated Financial Statements
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IFRS 15: Revenue from Contracts with Customers
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IFRS 16: Leases
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Case studies