FUNDAMENTALS OF FINANCIAL REPORTING STANDARDS

CONTEXT & OBJECTIVES

This comprehensive financial reporting standards training program will enable each participant to appreciate and understand the basics and certain complexities associated with international accounting standards along with topic terminology, concepts and applications.

Aspects and topics to be covered in the training:

Structural Framework for the Preparation and Presentation of Financial Statements:

  • Purpose and Objectives, including Financial Statement Audit Impact
  • Scope, Structure and Content of IFRS Financial Statements
  • Accounting Policies and Underlying Assumptions
  • Components of Financial Statements, including Qualitative Characteristics
  • Measurement and Recognition of the Elements of Financial Statements

Preparation and Presentation of IFRS Financial Statements:

  • Balance Sheet
  • Income Statement
  • Statement of Cash Flow
  • Consolidation Criteria and Requirements

Accounting Treatments of specific areas:

  • Inventory
  • Non – Current and Intangible Assets
  • Valuation and Revaluation
  • Depreciation
  • Deferred Taxes
  • Liabilities and Provision
  • Revenue
  • Financial assets and Liabilities

 

TARGET GROUP

Professionals from Accounting/Finance, Financial Reporting, internal Audit Departments from SMEs, Microfinance Institutions, Banks, NGOs.

 

BENEFITS

  • Get acquainted with the latest developments in the growing worldwide use of IFRS
  • Understand and deal the complexities associated with key IFRS principles and rules
  • Master the skills necessary for preparing financial statements under IFRS
  • Experience in developing professional judgment on practical application of IFRS.