Delegates who complete this finance training course session from Oxford Training Centre will gain a thorough understanding of International Financial Reporting Standards (IFRS). In order to ensure legal compliance and better corporate governance, delegates will not only increase their knowledge and comprehension but also their accounting abilities, enabling them to generate financial statements and account for transactions in line with IFRS.
A summary of the IFRSs that are most pertinent to your company will also be covered in the IFRS training course, which will be tailored to your needs. Delegates will be able to impart information and abilities for the good of their organization as a result.
Objectives and target audience
Objectives
After completing this IFRS training, you will be able to
- Observe accounting principles and guidelines.
- Create financial position and income statements in compliance with IFRS.
- Get the cash flow statement ready and assess it.
- IFRS-compliant asset accounting IFRS-compliant business combination and strategic alliance accounting
- The function and extent of IFRS
- The argument for IFRS and recent advancements
- The main ideas and rules of accounting
- The most crucial IFRS criteria that apply to your company
- IFRS-compliant financial statement preparation and presentation
Target audience
- Corporate accountants
- Financial controllers
- Treasury officers
- Management accountants
- Finance staff in general accounting, payables, receivables, inventory, fixed assets, etc.
- External, financial and internal auditors
- Government regulators
- Financial and investment analysts
How will attendees benefit?
Delegates will receive the following from the International Financial Reporting Standards (IFRS) training course:
- Knowledge and abilities to advance your career
- The newest resources and methods to help you in your position
- The capacity to reduce risk by making better-informed judgments
- Enhanced skills and better decision-making to make you more valuable to your company
- A deeper comprehension of your work and the key challenges impacting it, the capacity to communicate effectively with colleagues and other departments regarding current practices and concerns affecting the oil and gas sector
- Using IFRS practically to ensure legal compliance with the most recent needs
- Recognizing the main accounting problems the industry faces
- Using IFRS by their organizational requirements
- Assisting with corporate governance to lower risk
- Making a more effective contribution to financial decision-making
Course content
Module 1
IFRS’s Function and Scope
- Making the Case for International Accounting Diversity
- US GAAP and IFRS
- The function and reach of IAS and IFRS
- The conceptual framework of the IASB
- IFRS, accounting principles, and regulations
Module 2
Financial Statement Preparation and Presentation
- The financial accounts and yearly reports
- IAS 1 Financial Statement Presentation
- Getting the income statement ready
- Getting the financial status statement ready
- IAS and cash flow statement
- Notes and Disclosures
Module 3
Financial Instruments and Cash Flow Accounting
- The significance of cash flow
- Making a cash flow statement in compliance with IFRS 7
- Assessing the cash flow
- What are derivatives and financial instruments?
- Financial instruments under IFRS 7: Disclosures
- Financial instruments under IFRS 9
Module 4
Asset Accounting
- Both tangible and intangible resources
- IAS 16: Depletion, Depreciation, and Amortization (DD&A) and Property, Plant, and Equipment
- IAS 36: Asset impairment
- Fair value measurement under IFRS 13
- Intangible assets (IAS 38)
- IAS 2 inventories