International Financial Reporting Standards (IFRS) Mastery

Financial Management and Accounting October 25, 2025
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Introduction

This comprehensive course provides in-depth knowledge and practical application skills for International Financial Reporting Standards (IFRS). Participants will master the complete framework of IFRS, from conceptual foundations to specific standard applications across various business scenarios. The program covers key standards including revenue recognition, financial instruments, leases, and business combinations, with emphasis on recent updates and emerging issues. Through detailed case studies and practical exercises, attendees will develop the expertise to prepare IFRS-compliant financial statements and navigate complex international reporting requirements.

Objectives

Key learning objectives for this course include:

  • Master the IFRS conceptual framework and standard-setting process
  • Apply key IFRS standards to complex business transactions
  • Prepare IFRS-compliant financial statements and disclosures
  • Understand recent IFRS updates and emerging issues
  • Differentiate between IFRS and other GAAP requirements
  • Implement IFRS first-time adoption procedures
  • Account for financial instruments under IFRS 9
  • Apply revenue recognition under IFRS 15
  • Understand lease accounting under IFRS 16

Target Audience

  • Financial Reporting Managers
  • Chief Financial Officers
  • Financial Controllers
  • Public Accountants
  • Financial Analysts
  • Corporate Accountants
  • Accounting Consultants
  • Finance Professionals in multinational companies

Methodology

  • Case studies of IFRS implementation
  • Financial statement preparation exercises
  • Standard comparison workshops
  • Group discussions on complex standards
  • Individual research on recent updates
  • Transition scenario simulations
  • Disclosure requirement analysis

Personal Impact

  • Enhanced IFRS technical expertise
  • Improved global accounting perspective
  • Stronger analytical and application skills
  • Increased confidence in international reporting
  • Better understanding of standard differences
  • Professional growth in global finance

Organizational Impact

  • Improved global financial reporting consistency
  • Enhanced comparability for international investors
  • Better compliance with international requirements
  • Reduced conversion costs and errors
  • Stronger cross-border business support
  • Increased access to international capital markets

Course Outline

IFRS Framework and Fundamentals

Conceptual Foundation
  • IFRS conceptual framework overview
  • Qualitative characteristics of financial information
  • Elements of financial statements
  • Recognition and measurement principles
Standard Structure
  • IASB standard-setting process
  • Hierarchy of IFRS standards
  • IFRS practice statements
  • Interpretations and guidance

Presentation and Disclosure Standards

Financial Statements
  • IAS 1 - Presentation of financial statements
  • Statement of financial position requirements
  • Comprehensive income presentation
  • Statement of changes in equity
Cash Flow and Policies
  • IAS 7 - Statement of cash flows
  • Accounting policies under IAS 8
  • Events after reporting period (IAS 10)
  • Interim financial reporting (IAS 34)

Key Asset Standards

Asset Recognition
  • IAS 16 - Property, plant and equipment
  • IAS 38 - Intangible assets
  • IAS 40 - Investment property
  • IAS 2 - Inventories
Asset Measurement
  • IAS 36 - Impairment of assets
  • IAS 23 - Borrowing costs
  • IAS 20 - Government grants
  • IAS 41 - Agriculture

Liabilities and Equity

Liability Standards
  • IAS 37 - Provisions, contingent liabilities
  • IAS 19 - Employee benefits
  • IFRS 2 - Share-based payment
  • IAS 12 - Income taxes
Financial Instruments
  • IFRS 9 - Financial instruments
  • Classification and measurement
  • Impairment and expected credit losses
  • Hedge accounting requirements

Revenue and Leases

Revenue Recognition
  • IFRS 15 - Revenue from contracts
  • Five-step model application
  • Contract costs accounting
  • Disclosure requirements
Lease Accounting
  • IFRS 16 - Leases
  • Lessee accounting model
  • Lessor accounting approaches
  • Lease modification accounting

Business Combinations and Consolidation

Combination Standards
  • IFRS 3 - Business combinations
  • Goodwill and bargain purchase
  • IFRS 10 - Consolidated financial statements
  • IFRS 11 - Joint arrangements
Special Topics
  • IFRS 8 - Operating segments
  • IAS 21 - Foreign currency translation
  • IFRS 5 - Non-current assets held for sale
  • First-time adoption (IFRS 1)

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