Price: USD 137
- Duration: 5 Hours
Course details
The switch from local accounting standards to IFRS must be well thought-out, and its implications understood. It is easy to think that only those involved with accounting and finance need to get involved or will be affected by it. However, the lessons learned by the EU’s listed companies in the last phase of conversion to IFRS indicate that a much broader perspective is needed, and that the conversion must be treated as a project to be carefully planned and executed.
More about this Event
Managing your Transition to IFRS enables the learner to:
- Understand why the change to IFRS is happening
- Know the reporting requirements for small and medium sized companies
- Consider the costs of the transition
- Plan a transition from financial reporting to IFRS
- Understand the non-financial implications of switching to IFRS
Learning Outcomes
The regulatory regime
- What are International Financial Reporting Standards and how have they developed?
- Why are countries and companies switching to IFRS?
- What are the reporting requirements for small and medium sized companies?
The IFRS transition project
- What are the benefits of establishing an IFRS transition project?
- What should be the main stages in planning the project?
- What is the cost of IFRS transition?
- What role can external advisors play in the project?
Introducing IFRS reporting
- How can the main accounting impacts be identified?
- Will there be any affect on presentation and disclosure requirements?
- What systems and controls issues need to be considered?
- How can I make sure that IFRS is embedded in the organisation?
The non-financial implications
- What are the implications for employees, suppliers, customers etc?
- Will the transition have any effects on company strategy, policies and regulation?
- What effects will the transition have on the users of my financial statements?
- How can transition issues be effectively communicated to those outside the company?
Updated on 08 November, 2015
About Institute of Chartered Accountants of Ireland
Chartered Accountants Ireland (The Institute) is a membership body representing 23,000 influential members throughout the globe. their role is to educate, represent and support their members. their members work in senior positions in practice and industry. they are committed to restoring confidence at every level of the economy. they work with governments and businesses to raise awareness of the importance of sound financial advice.
Chartered Accountants Ireland was established as the Institute of Chartered Accountants in Ireland by Royal Charter in 1888. Its activities and those of its members are governed by its Bye-Laws and by Rules relating to professional and ethical conduct. These provisions are contained in the Handbook which is available to all members.
Chartered Accountants Ireland is governed by a Council and it is responsible for determining policy and monitoring its implementation. Council is lead by the Officer Group and supported by the Management Team and staff. A number of committees with voluntary member involvement also play a key role.
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