The British Academy for Training and Development offers a comprehensive Certificate in International Financial Reporting Standards (IFRS) Course, designed to equip attendees with a deep knowledge of the international accounting standards and the financial reporting framework.

This intensive programme offers attendees with an in-depth understanding of the International Financial Reporting Standards (IFRS) and applies these standards practically in their organisations. It also teaches the concepts, principles, and practical application of IFRS principles to keep the learners in line with international accounting practices, hence aiding in financial statement transparency and comparability from one country to another.

Attendees will gain valuable insights into critical operations pertaining to IFRS changes, be able to tackle tricky financial situations, and obtain the skill set required to prepare and interpret financial reports according to internationally recognised standards. 

Objectives:

The objectives of Certificate in International Financial Reporting Standards (IFRS) Course are:

To provide an exhaustive knowledge of the IFRS standards and how they are applied practically.To further develop and refine the skills of IFRS interpretation and application in financial statements.To understand the essential differences between IFRS and local accounting standards.To provide up-to-the-minute changes and developments on IFRS.To enhance the quality and transparency of financial reporting with global comparability in mind.To prepare attendees for obtaining professional certification in IFRS.Identify the components of comprehensive income and other comprehensive incomeProperly account for income taxes and determine current vs. different taxesClassify the various type of investments according to IFRS 9Determine the concepts of control and power and consolidate a set of financial statementsDefine the term significant influence and apply the equity methodApply the required steps in business combination and account for goodwillWho Should Attend?

This course is ideal for:\

Accountants and auditorsFinancial managers and controllersFinance professionals engaged in financial reportingTax advisors and consultantsFinancial analystsAny professional attempting to get qualified on IFRSBusiness owners and entrepreneurs wishing to help expand their enterprises globallyAll those willing to deepen their knowledge of global financial reporting standardsHow will attendees benefit?

At the end pf the course attendees will gain man benefits:

Global Credentials: IFRS will boost your credibility and present you with international career chances.Enhanced Quality of Financial Reporting: Learn how to issue lucid, high-quality financial statements complying with the worldwide standards and that meets the needs of the international stakeholders.Changes in Regulation: Keep abreast of the most recent changes and developments in IFRS to enhance timely compliance and to reduce risk exposure in financial reporting.Enhanced Decision-Making Skill: Master interpreting complex financial reports to make better strategic and operational choices.Career Opportunities: Gain some really hot knowledge of IFRS and be such an asset to multinational corporations, accounting firms, and regulatory agencies. Efficiency and Accuracy: Learn the best practices in financial reporting to minimize common mistakes and speed up the reporting process.Practical Skill Development: Explore practical exercises and real-life case studies to learn how to implement IFRS principles into your daily working practice.

• Overview of Fundamental Concepts in IFRS

• History of IFRS

• The complete set of financial statements

• Classification of assets and liabilities

• Components and classification of stockholders’ equity

• Total Comprehensive Income (TCI)

• Components of Other Comprehensive Income (OCI)

• Income Taxes (IAS 12)

• Recognition and measurement of current tax

• Recognition and measurement of deferred tax

• Recognition in profit and loss

• Deferred tax asset or liability

• Presentation and disclosure

• Financial Instruments

• Classification of financial assets under IFRS 9

• Business model and cash flow test

• Amortized cost

• Fair Value through Profit and Loss (FVTPL)

• Fair value through Other Comprehensive Income (OCI)

• Impairment of financial assets

• Presentation of financial instruments under IAS 32

• Disclosure requirements under IFRS 7

• Consolidation of Financial Statements (IFRS 10)

• Definition of power and control

• Identification of subsidiary

• Consolidation procedures

• Intercompany transactions

• Non-Controlling Interests (NCI)

• Loss of control

• Accounting for Joint Arrangements and Associates (IAS 28)

• Types of joint arrangements

•  Joint operations versus joint venture

• Accounting for joint operations (IFRS 11)

• Accounting for joint ventures and associates according to the equity method

• Identification of associates and the concept of significant influence

• Impairment of investments accounted for under the equity method

• Business Combinations (IFRS 3)

• Determining fair value

• Steps in the accounting process for business combinations

• The acquisition method

• Goodwill and gain from a bargain purchase

• Two options to measure non-controlling interests

• Impairment of goodwill