Introduction to IFRS

• Overview of the IFRS framework and the history behind its development, including the global need for standardisation in financial reporting.
• Detailed explanation of the IFRS Certification process and the steps required to obtain the certification and the benefits it offers to professionals in accounting and finance.
• The importance of adopting IFRS financial reporting for companies operating in multiple jurisdictions, ensuring comparability and transparency across international markets.

The IFRS Conceptual Framework

• Understanding the conceptual framework of IFRS, including its objectives, the definition of financial statements, and the recognition of assets and liabilities.
• Exploring the basic principles that underpin IFRS accounting standards and how these principles influence the preparation of financial reports.
• An in-depth look at the role of IFRS exam preparation, with strategies to help participants effectively prepare for the certification exam.

Key IFRS Standards

• A comprehensive overview of the most widely used IFRS accounting standards, including IFRS 1 (First-time Adoption of IFRS), IFRS 9 (Financial Instruments), IFRS 15 (Revenue from Contracts with Customers), and IFRS 16 (Leases).
• Application of IFRS standards in real-world financial reporting, with practical examples of how these standards impact the preparation of financial statements.
• The IFRS Online Course provides flexibility for participants to study these standards at their own pace, ensuring they gain mastery over each key area.

Financial Reporting Under IFRS

• Exploring the structure and format of financial statements under IFRS, including the income statement, balance sheet, and cash flow statement.
• Detailed discussions on the preparation of consolidated financial statements, focusing on the treatment of subsidiaries, associates, and joint ventures under IFRS.
• The role of financial reporting in assisting companies with transparency and providing stakeholders with reliable financial information.

IFRS for Financial Instruments

• In-depth coverage of IFRS 9 and its implications for financial instruments, including the classification, measurement, and impairment of financial assets and liabilities.
• An exploration of the IFRS 9 hedge accounting framework and how businesses can apply hedge accounting for risk management purposes.
• Understanding how IFRS financial reporting for financial instruments impacts the way companies report their exposure to market and credit risk.

Leases and Revenue Recognition

• A detailed study of IFRS 16 (Leases), exploring the new accounting treatment for leases, with a focus on lessee and lessor accounting and the impact of lease modifications.
• Understanding the new rules for revenue recognition under IFRS 15, including identifying performance obligations and determining the transaction price.
• Practical case studies on implementing IFRS 15 in various industries, focusing on the recognition of revenue and the effects on financial statements.

IFRS for Taxation and Risk Management

• Exploring the impact of IFRS on tax reporting and the challenges of aligning tax regulations with international accounting standards.
• Discussing how IFRS standards affect corporate risk management, with a focus on the recognition of provisions, contingencies, and financial instruments.
• The role of IFRS professional development in helping organisations stay compliant with the evolving financial reporting landscape.

Advanced IFRS Topics

• An examination of more advanced IFRS standards and topics, including IFRS 17 (Insurance Contracts) and IFRS for SMEs (Small and Medium-sized Entities).
• A deep dive into the implications of adopting IFRS for multinational corporations and understanding the challenges and benefits of convergence with local accounting standards.
• A review of case studies illustrating the practical implementation of IFRS in various sectors, with a focus on how companies can ensure compliance while maintaining business efficiency.