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Understanding IAS and IFRS

Course description

IFRS requirements are those established by the International Accounting Standards Board (IASB) who have developed, in the public interest a set of, high standard, understandable and enforceable global accounting standards.

By the end of this course, you will be able to:

    • Gain a comprehensive insight into key IASs
    • Understand key differences between IAS and UK GAAP
    • Address the major conversion issues such as financial statement presentations and pensions
    • Keep abreast of the key changes expected in the future

Audience

Anyone who needs to implement and review IAS/IFRS conversions for their company, in particular: finance directors/controllers; auditors and accountants in practice.

Prerequisites

Course content

  • IAS financial statements
  • Basic concept and presentation Framework and IAS 1
  • and first-time application of IAS; key differences to UK GAAP
  • Key Areas Regarding Disclosure under IAS
  • Segment reporting (IAS 14)
  • Related party disclosures (IAS 24)
  • Non-current assets held for sale and discontinued operations (IFRS 5)
  • Events after the balance sheet date (IAS 10)
  • Danger Areas in the Balance Sheet
  • Tangible and intangible assets and leases
  • Provisions, contingent liabilities and assets (IAS 37)
  • Business Combinations (IFRS 3)
  • Consolidation of subsidiaries (IAS 27)
  • Accounting for associates (IAS 28)
  • Interests in joint ventures (IAS 31)
  • Challenging Areas
  • Employee benefits (IAS 19)
  • Share-based payment (IFRS 2)
  • Deferred taxation (IAS 12)

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