Why Attend
The 'International Financial Reporting Standards (IFRS) and 2023 Updates' course will help build the knowledge you need in IFRS for success in today's global business world. Like you, we believe those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. Developed with input from subject matter experts from across the region, this course is designed to provide accounting and finance professionals with the training, knowledge and practical guidance needed to use IFRS and stay up to date with its newest standards and changes.
Course Methodology
The course uses a mix of interactive techniques, such as brief presentations by the consultant, application of different theories, group exercises to exchange experience and apply knowledge acquired throughout the course.
Course Objectives
By the end of the course, participants will be able to:
Target Audience
Professionals in the fields of finance and accounting as well as professionals seeking to enhance their international accounting knowledge from companies implementing IFRS as the standard of reporting.
Target Competencies
Course Outline
Introduction to IFRS and presentation of financial statements
Defining the term 'IFRS'
IFRS standard setting process
Financial position presentation format as per IAS1, presentation of financial statements
Components and classification of current and non-current assets and liabilities
Offsetting assets and liabilities
Income statement minimum presentation requirements as per IAS1, presentation of financial statements
Presentation of revenues and expenses by nature or by function
Components and classification of stockholders’ equity
Other comprehensive income: nature of its components
Supplemental disclosures
IFRS rules for current assets and liabilities
Cash and cash equivalents (IFRS 9)
Accounts receivable (IFRS 9):
Allowance for doubtful and bad debts: based on new impairment model of IFRS 9
Pledging, assigning and factoring of receivables
Accounts payable and accruals (IFRS 9)
Inventory (IAS 2):
Ownership: when to include inventory in your books
Measurement at initial recognition: what to include in 'cost'
Inventory cost-flow assumptions
Subsequent measurement: lower of cost or net realizable value
IFRS rules for non-current assets and liabilities
Property, plant and equipment (IAS 16):
Initial recognition and subsequent measurement
Cost model versus revaluation model
Assets held-for-sale (IFRS 5)
Treatment of decommissioning costs (IAS 37)
Impairment of property, plant and equipment (IAS 36)
Intangible assets (IAS 38)
Why some intangible assets are not recognized on balance sheet
Investment property (IAS 40)
Distinguishing investment property from other assets
Cost model versus fair value model
Provisions, contingent liabilities and contingent assets (IAS 37)
Financial assets (IFRS 9)
Type of investment securities
Classification under IFRS 9: Fair Value Through Profit or Loss (FVTPL), Fair Value Through Other Comprehensive income (FVTOCI), amortized cost
Transfer between categories
Impairment of financial assets under the new standard
Revenue from contracts with customers (IFRS 15)
Scope of IFRS 15
Describing the five-step model framework under IFRS 15
Step 1: Identifying the contract with the customer
Step 2: Identifying the performance obligations in the contract
Step 3: Determining the transaction price
Step 4: Allocating the transaction price to the performance obligations in the contract
Step 5: Recognizing revenue when the entity satisfies a performance obligation
IFRS 16, Leases
Recognition exemptions: expensing lease payments
How will the lease of small value items be affected
Identifying a lease transaction
Accounting by lessees
Accounting by lessors
Effective date and transition
INFORMATECH is the region’s leading provider of in-house custom-designed courses. We have been tailoring in-house solutions for our clients aimed at helping them achieve short term training wins or long term strategic requirements. In addition to being significantly cost effective, these courses are constantly in demand because they:
13 Jan - 17 Jan 2025
24 Feb - 28 Feb 2025
7 Apr - 11 Apr 2025
28 Apr - 2 May 2025
19 May - 23 May 2025
9 Jun - 13 Jun 2025
30 Jun - 4 Jul 2025
21 Jul - 25 Jul 2025
11 Aug - 15 Aug 2025
1 Sep - 5 Sep 2025
22 Sep - 26 Sep 2025
13 Oct - 17 Oct 2025
3 Nov - 7 Nov 2025
24 Nov - 28 Nov 2025
15 Dec - 19 Dec 2025
If you did not find the appropriate date or venue suitable for you, or you would like to join the course online, you can request a custom course from the link below.
We offer group and corporate discounts on many courses. These discounts are available for clients who want to maximize their return on investment.
We offer individual discounts on many courses for people who are self-sponsored and make their payment in full and upfront at the time of registration.
Nominations to our public courses are to be processed by the client’s HR/Training department except for self-nominations which are to be paid in advance using the “payment by self” option on the online registration form. A refund will be issued back to the client in the event of course cancellation or seat unavailability. Registration confirmation is subject to INFORMATECH's review of registration request and seat availability.
Clients are responsible for any type of tax levied in their country.
If you are interested in having a course custom-designed for your organization, please submit a request using the link below. Once we receive your duly completed request, one of our business development professionals or consultants will get in touch with you to understand your requirements with more detail and answer any relevant questions you may have. After all pertinent information has been exchanged, we will work on the custom-designed request and send you the proposal you require and work with you to identify the ideal period and place for delivering the custom-designed solution.