The IFRS standards are being developed on an ongoing basis and accounting professionals need to be aware of the introduction of new standards and the modifications to the existing standards. This program is designed to provide an understanding of the way the standards have come into existence, their importance in the standardization of reporting systems throughout the world, and the road to convergence for those countries that have not yet adopted the IFRS.
The program considers recently introduced standards as well as the recent IFRIC interpretations including IFRIC 9. Parallels with the IFRS, US GAAP and local standards, including SOCPA, will be discussed where relevant. The program also contains an in-depth analysis of the most important new development which is the promulgation of the IFRS for Small to Medium Size Enterprises (SMEs). These standards have been developed specifically for the SME sector which represents 90+% of all entities. They are currently being sanctioned by most IFRS adopting countries.
What will I learn?
- IASB Structure and Operations
- IFRS 1: First Time Adoption of IFRS
- Financial Statement Presentation (IAS 1, 7, 34; IFRS 2, 5)
- Measuring Financial Performance (IAS 8, 24, 33; IFRS 2)
- Business Combinations (IFRS 3)
- Consolidations Including Foreign Currency Issues (IAS 21, 27, 28, 31, IFRS 10)
- Segmental Reporting (IAS 14, IFRS 8)
- Revenue Recognition (IAS 11, 18) and NOW IFRS 15
- Intangible Assets (IAS 38)
- Liabilities, Provisions and Contingencies (IAS 10, 12, 37)
- Employee Benefits (IAS 19)
- Full Analysis of the following recent/new standards
- Chief Accountants
- Group Finance Directors
- Heads of Finance
- Finance Managers
- Financial Controllers
- Management Accountants
- Executive Directors of Finance
- Heads of Accounting and Administration
- Finance and Information Systems Managers
- Financial Analysts
What will I benefit?
- Successful completion of this course makes you a CIFRSSTM Certified IFRS Specialist.
- You can use the designation CIFRSSTM on your business card and resume.
- Up to 18 months' membership to the IABFM professional body
- Completion of a program fully endorsed by a panel of industry Subject Matter Experts (SMEs)
- Access to the IABFM network and body of information online
- Preferred access to education centers in USA, UK, Europe, Asia, Middle East and Latin America
- Access to the IABFM journal published online. Gold Embossed Certificate with your name and designation as MIABFM (Member of the International Academy of Business and Financial Management
- You will gain an appreciation of the objectives of the IASB and the importance of its role in the area of financial reporting
- You will know the principle standards and the method of reporting required by those standards
- You will gain an understanding of the requirements of the new reporting standards due for implementation in 2017
- You will appreciate that the new standards may have an impact on the financial performance of the organisation.
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