International Financial Reporting Standards (IFRS)
and 2011 Update
Program Objectives:
By the end of the program, participants will be able to:
Adopt the language of accounting and finance.
Develop a sound understanding of the International Financial Reporting Standards (IFRS)
and their impact on financial reporting.
Properly account for assets, liabilities and owners equity.
Effectively interpret accounting transactions according to IFRS.
Demystify the interpretation of financial statements and reports.
This Program is designed for:
Professionals in the fields of finance and accounting, and professionals seeking to enhance international
accounting knowledge and companies implementing IFRS as the standard of reporting.
Program Outline:
Introduction to IFRS
Financial Instruments - Assets
Financial Reporting Framework
The Future Agenda for IFRS
IFRS: Current Year Update
Cash and Receivables
Inventory
Property, Plant and Equipment
Intangible Assets
Investments
Statement of Financial Position
Liabilities and Stockholders Equity
Elements of Statement of Financial Position
Forms and Format
Classification of Assets
Classification of Liabilities
Classification of Stockholders Equity
Disclosures
Current Liabilities
Contingencies
Long-Term Liabilities
Accounting for Debt
Capital, Retained Earnings and Reserves
Comprehensive Income
Revenue Recognition
Concept of Income
Recognition and Measurement
Income Statement
Other Comprehensive Income
Concepts, Rules and Examples
Revenue Recognition Criteria
Measurement of Revenue
Statement of Changes in Equity
and Statement of Cash Flows