MF112
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International Financial Reporting (IFRS)
المعايير الدولية لإعداد التقارير المالية (IFRS)
LanguageLanguage: EN / AR

Course Overview

International Financial Reporting (IFRS) is now the global benchmark for financial transparency and comparability. This course equips finance professionals with a robust understanding of IFRS, critical for organizations integrating into global capital markets. As IFRS continues evolving, staying abreast of current standards ensures accurate and credible financial statements, which are key for attracting international investment and sustaining compliance.

Course Objective

  • Apply IFRS concepts and policies to financial reporting
  • Prepare accurate income statements, balance sheets, and cash flow statements using IFRS
  • Evaluate and apply IFRS rules for assets, liabilities, and equity
  • Analyze business combinations and strategic alliances under IFRS standards
  • Interpret and implement IFRS for financial instruments and foreign transactions

Who Should Attend??

  • Heads of Finance
  • Chief Accountants
  • Financial Controllers
  • External and Internal Auditors

Course Outline

Module 1: Introduction to IFRS and Global Adoption

  • Global movement to IFRS
  • Principles vs. rule-based approaches
  • Purpose and rationale for the conceptual framework

Module 2: Key Standards for Financial Statements

  • IAS 1: Presentation of Financial Statements
  • Core concepts and principles in financial reporting
  • Statement of financial position and income statement preparation

Module 3: Accounting for Tangible and Intangible Assets

  • IAS 16: Property, Plant and Equipment
  • IAS 2: Inventories
  • IAS 40: Investment Property

Module 4: Asset Impairment and Provisions

  • IAS 36: Impairment of Assets
  • IAS 37: Provisions, Contingent Liabilities, and Assets
  • IFRS 5: Non-Current Assets Held for Sale

Module 5: Employee and Post-Employment Benefits

  • IAS 19: Employee Benefits
  • Recognizing defined benefit plans
  • Accounting implications for pensions

Module 6: Business Combinations and Group Accounting

  • IFRS 10: Consolidated Financial Statements
  • IFRS 3: Business Combinations
  • Accounting for acquisitions and mergers

Module 7: Foreign Exchange and Joint Ventures

  • IAS 21: Foreign Currency Transactions
  • IFRS 11: Joint Arrangements
  • IAS 28: Investments in Associates

Module 8: Financial Instruments: Measurement and Classification

  • IFRS 9: Financial Instruments – Overview
  • Classification and measurement of assets and liabilities
  • Derecognition and impairment

Module 9: Fair Value and Financial Presentation

  • IFRS 13: Fair Value Measurement
  • IAS 32: Financial Instruments – Presentation
  • Fair value hierarchy and disclosures

Module 10: IFRS Updates and Real-World Application

  • Latest amendments and interpretations
  • Case study analyses
  • Final assessment and wrap-up

Training Methodology

The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.