International Financial Reporting Standards (IFRS)

Overview

Organisations in both the public and private sectors require sound financial management, in order to be effective. Sound financial management is predicated on the use of common acceptable financial reporting standards. This course has been designed to introduce participants to standards used internationally.

Who to Attend

Senior and Middle Level Management Staff in-charge of Finance and Accounting.

Course Objectives

The objectives of the course are, to:

Introduce participants to the International Standard Financial Reporting format.
Stimulate participants to adopt the standards in their organisations.

Outline

The Importance of Standards of Financial Reporting.
The Legal Framework for Developing International Reporting Standards.
Concepts in International Financial Reporting Standards.
Presentation and Disclosure Issues.
Accounting for Assets and Liabilities.
Accounting for Financial Instruments.
Accounting for other Issues and Groups.
Policies and Revenue.
Application of the Standards in the Public and Private Sectors.
The Importance of Using Resource Accounting and Budgeting in Public Sector Organisations.
Review of Developments in Current International Financial Reporting Standards in Specific Technical Areas.
Expected Future Developments.