Saudi GAAP Transition to International Financial Reporting Standards (IFRS): Compliance with SOCPA MEIRC
Program Objectives:

By the end of the program, participants will be able to:

  • Determine the major differences in the financial accounting and reporting between International Financial Reporting Standards (IFRS) and Accounting Standards Generally Accepted in the Kingdom of Saudi Arabia (Saudi GAAP).
  • Properly account for assets, liabilities, equity, revenues and expenses under both IFRS and Saudi GAAP.
  • Apply the different accounting methods allowed under IFRS and Saudi GAAP to multiple situations.
  • Identify the effect of the transition from Saudi GAAP to IFRS on their company’s financial statements.
  • Prepare financial statements for entities adopting International Financial Reporting Standards for the first time.

Who should attend:

  • Staff Accountants
  • Senior Accountants
  • Chief Accountants
  • Accounting Managers
  • Controllers
  • Internal Auditors and other professionals in the accounting and finance functions

Program Outline:

  • Introduction and Key Financial Statements 
  • IFRA 1 - First Time Adoption of International Financial Reporting Standards 
  • Comparison of Current Assets 
  • Comparison of Long-LIved Assets 
  • Comparison of Financial Instruments 
  • Exploration for and Evaluation of Mineral Resources 
  • Comparison of Liabilities and Equities 
  • Accounting Changes and Discontinued Operations 
  • Fair Value Measurement 

Meirc Training & Consulting is an independent multinational firm with close to 60 years of experience in helping regional organizations develop their human capital in management and technical fields. Since 1958, they have been entrusted by their clients to provide the most reliable training and consulting products and services in the region.

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