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Essentials of IFRS Standards (Level 1)
The IFRS (International Financial Reporting Standards) are a set of international accounting standards that have been in effect since 2005. They are mandatory for all publicly listed companies in the European Union, but many other countries have also adopted them, such as Africa, China, Algeria, Brazil, and Ukraine, among others.
The objective of IFRS is to simplify the presentation of financial and accounting statements published by companies using a common framework. This ensures greater transparency and makes it easier to compare financial information across markets.
By participating in this training, you will gain an understanding of the fundamental principles of IFRS and international financial reporting. You will also discover the key differences between IFRS as applied in France and in other regions, such as Africa. While IFRS are today a global reference in accounting, each country retains its own specific features.
Whatever your current level of knowledge, it is essential to master the foundations of this framework. Doing so will help you update your accounting skills and open up broader career opportunities.
Targets
At the end of the Essentials of IFRS Standards training, you will be able to:
- Discover and understand the regulatory framework of IFRS standards
- Identify the role of financial reporting within IFRS
- Compare the IFRS system with the traditional accounting system, in order to distinguish conceptual and practical differences, as well as the associated challenges
Program
Introduction to IFRS Accounting Standards
- The challenges and implications of IFRS
- Recent updates in IFRS regulations
- Advantages and constraints of IFRS 1 and IFRS 13
Understanding Tangible and Intangible Assets (IFRS 3 and IFRS 16)
- Impairment testing and asset depreciation
- Historical cost versus fair value
- Accounting for investment property, grants, leases, borrowing costs, inventories, etc.
Understanding Financial Instruments (IFRS 7 and IFRS 9)
- What are financial instruments?
- Valuation methods (fair value, amortized cost)
- Asset impairment
Understanding Financial Statements (IFRS 5 and IFRS 8)
- Statement of comprehensive income
- Statement of financial position
- Cash flow statement
- Statement of changes in equity and notes
- Segment reporting
- Basic and diluted earnings per share
- Assets held for sale and discontinued operations
Overview of Other IFRS Standards
- IFRS standards on revenue recognition
- IFRS standards on provisions, contingent assets, and contingent liabilities
- IFRS standards on employee benefits
Prerequisites
Prerequisite for the Essentials of IFRS Standards training:
- Knowledge and mastery of the traditional accounting system.
Public
This training is intended for:
- All accounting and finance professionals
- Anyone wishing to discover international financial reporting standards (IFRS)
Strong points
- Practical exercises and case studies to reinforce learning
- Improved understanding of financial statements and reporting
- A comprehensive overview of the main IFRS standards applicable in Europe and other countries
Targets
At the end of the Essentials of IFRS Standards training, you will be able to:
- Discover and understand the regulatory framework of IFRS standards
- Identify the role of financial reporting within IFRS
- Compare the IFRS system with the traditional accounting system, in order to distinguish conceptual and practical differences, as well as the associated challenges
Program
Introduction to IFRS Accounting Standards
- The challenges and implications of IFRS
- Recent updates in IFRS regulations
- Advantages and constraints of IFRS 1 and IFRS 13
Understanding Tangible and Intangible Assets (IFRS 3 and IFRS 16)
- Impairment testing and asset depreciation
- Historical cost versus fair value
- Accounting for investment property, grants, leases, borrowing costs, inventories, etc.
Understanding Financial Instruments (IFRS 7 and IFRS 9)
- What are financial instruments?
- Valuation methods (fair value, amortized cost)
- Asset impairment
Understanding Financial Statements (IFRS 5 and IFRS 8)
- Statement of comprehensive income
- Statement of financial position
- Cash flow statement
- Statement of changes in equity and notes
- Segment reporting
- Basic and diluted earnings per share
- Assets held for sale and discontinued operations
Overview of Other IFRS Standards
- IFRS standards on revenue recognition
- IFRS standards on provisions, contingent assets, and contingent liabilities
- IFRS standards on employee benefits
Prerequisites
Prerequisite for the Essentials of IFRS Standards training:
- Knowledge and mastery of the traditional accounting system.
Public
This training is intended for:
- All accounting and finance professionals
- Anyone wishing to discover international financial reporting standards (IFRS)
Strong points
- Practical exercises and case studies to reinforce learning
- Improved understanding of financial statements and reporting
- A comprehensive overview of the main IFRS standards applicable in Europe and other countries