Training for the Future


IFRS: Practical Implementation for first time adopters

Course Code: IFPI

Dates: 21 Nov - 25 Nov | 10 Apr 14 Apr | 12 Jun 16 Jun | 4 Sep 8 Sep | 20 Nov - 24 Nov

Price: £2850 Plus VAT

Duration: 1 Week /s

Course Objectives:

This course is designed to provide a detailed introduction to all technical issues required for a successful adoption and implementation of IFRSs. Participants will be equipped with the necessary tools to aid in the understanding of IFRS requirements. With the use of published financial statements, this course will illustrate the practical application of IFRS in the preparation financial statements, hence, provide delegates with the necessary skill for navigating the intricate and shifting landscape of IFRS

Who Should Attend?

Stakeholders at all levels of the organisation

Prerequisite Courses

Basic understanding of accounting principles


Course Overview

  • Introduction to IFRSs and IASB framework

  • Understand the requirements prescribed for conversion to IFRS as detailed in IFRS1

  • Comprehend the content of IAS 1: Presentation of financial statements

  • Understand accounting for inventory under IAS 2: Inventory

  • Preparation of cash flow statement using of IAS 7:Cash flow statement guidelines

  • Have a good grasp of Accounting Policies, changes in Accounting estimates and error as stipulated in IAS 8

  • View the treatment of events after balance sheet date under IAS 10

  • Understand construction contracts as presented under IAS 11: Construction Contract

  • Understand income tax treatment under IAS 12 and segment reporting under IAS 14

  • Learn the application of IAS 17: Leases, IAS 18 :Revenue and IAS 19: Employee benefits

  • Learn accounting for government grant and disclosure of government assistance under IAS 20
  • Understand the effect of changes in foreign exchange rate as treated under IAS 21

  • Understand IAS23: borrowing cost, IAS 33: Earning per share and IAS 38 Intangible assets

  • Understand Financial instruments presentation, recognition and measurement and disclosure under IAS 32,39 and IFRS7

  • Understand the accounting and reporting of retirement benefit plans as stipulated under IAS 26

  • Learn the application of the standard applicable agriculture IAS 41

  • Appreciate the disclosure requirement of related party transactions as stated under IAS 24

  • Understand the content and application of IFRS 1 -8



  • Learning Goal
    After completing this course, delegates should be able to:
  • Understand all applicable standards as may be required for individual organisation

  • Confidently prepare financial statements in accordance with up to date IFRS requirement

  • Comply with IFRS disclosure requirements and accounting policies

  • Calculate basic and diluted earnings per share

  • Know the IFRS condition for recognition and measurement of assets, liabilities, revenue, expenses, gain and losses

  • Appreciate and understand the optional and mandatory dichotomy available to first time adopters of IFRSs


  • Course Materials

    Course notes, hand outs
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