At the end of this training, participants will be able to:

• Describe the setting process in International Financial Reporting Standards (IFRS) and list the currently available standards
• Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization
• Determine the correct presentation and minimum disclosure for components of statement of financial position, statement of comprehensive income, statement of owners' equity and statement of cash flows in accordance with IFRS
• Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS
• Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions

CONTENT

• 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)
• Situations where some intangible assets are not recognized in financial positions
• Cost model versus revaluation model
• Investment property (IAS 40)
• Distinguishing investment property from other assets
• Cost model versus fair value model
• Provisions, contingent liabilities and contingent assets (IAS 37)
• Investment securities (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
• Initial recognition and subsequent measurement
• Transfer between categories
• Impairment of financial assets under the new standard

FOR WHOM:

Accountants, Controllers, Managers of Fixed Assets, Divisional and Plant Managers and all Executives involved in Fixed Asset Accounting and Administration.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

This course is available in the following locations:

Ghana - $6000
Rwanda - $7000
UK - $8000
USA - $8000