International Financial Reporting Standards (IFRS)

Transcription

1 ISO 9001:2008 Certified ISO 29990:2010 Certified (Certificate No: ) ISO (Certificate No: ) International Financial Reporting Standards (IFRS) November 2016 Doha - Qatar 22May16 The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.

2 International Financial Reporting Standards November 2016, Kuala Lumpur Fees: (IFRS) US$ 5,500/- Introduction This comprehensive accounting standards training course will enable each participant to appreciate and understand the basics and certain complexities associated with International Accounting Standards (IFRS) along with topic terminology, concepts and applications. In gaining a perspective of the origins of IFRS, the accomplishments, to date, in the development and acceptance of global accounting standards and insights into the foreseeable future, participants will gain a valuable understanding of this critical field of knowledge and be capable of contributing meaningful assistance to their respective organizations with respect to the adoption and utilization of these accounting standards. This training course will feature: The basic concepts of accounting and financial reporting disclosures and varying reconciling and nonreconciling differences between GAAP and IFRS The scope, structure, contents and components of IFRS compliant financial statements, including underlying assumptions and related footnotes disclosures Measurement and recognition of the various elements of international accounting principles and standards, including transition concerns Revenue recognition and financial reporting requirements Training Methodology This training course will utilise a variety of proven highly interactive adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. There will be an explanation of all IASB technical requirements in a clear, practical format, including an overall review of the rationale and objectives for all IASB standards that are included in the training course. Objectives By the end of this training course, participants will be able to: Understand the current and potential future requirements of IFRS, including the final prospects and timetable for the convergence of GAAP and IFRS Apply standards in accordance with their requirements in terms of preparing IFRS compliant financial statements, including the selection of appropriate accounting policies and related footnote disclosures Understand the recognition and measurement principles as delineated within the IASB s Framework and comprehending their application within each accounting standard Define and apply the transition process to IFRS and identify the first-time exemptions that are applicable to the financial statements of a transitioning organization Examine accounting standards that either require or permit the use of fair value measurement (including comparisons to U.S. Financial Accounting Standards), determining fair value measurements and financial statement recognition issues and presentation Who Should Attend? This training course is suitable to a wide range of professionals but will greatly benefit the following individuals: Accounting professionals Financial executives Auditors Financial analysts Bankers Investment bankers Any other professionals involved in the preparation, presentation, implementation or analysis of financial statements prepared in accordance with IFRS In addition, active participation by all participants through a combination of direct instruction, analysis and evaluation of practical case studies, examples and exercises to illustrate application of the standards as well as current and future issues and other real life examples will be encouraged.

3 SEMINAR OUTLINE Day One Evolution of International Accounting Standards Technical understanding of principles of IFRS Understanding the IFRS conversion process and how this is likely to impact on your organization Technical understanding of opportunities and difficulties that conversion presents Managing change International Financial Reporting Standards ( IFRS ) Introduction, History and Overview of Existing and Future Standards Roles of the Various Accounting Standards Setting Bodies Objectives and Structure of the International Accounting Standards Board ( IASB ) Framework, Demand and Adoption of IFRS Convergence Introduction and Historical Overview Issues, Benefits and Problems of Convergence IASB/FASB Projects U.S. SEC Adoption Timeline and Activities Day Two Structural Framework for the Preparation and Presentation of Financial Statements Purpose and Objectives, including Financial Statement Audit Impact Scope, Structure and Content of IFRS Financial Statements Accounting Policies and Underlying Assumptions Components of Financial Statements, including Qualitative Characteristics Measurement and Recognition of the Elements of Financial Statements Transition Concerns and Transition Plan Elements Day Three Preparation and Presentation of IFRS Financial Statements Technical understanding of choices available within the IFRS standards Understanding the detailed disclosure requirements within IFRS financial statements Understanding revenue recognition issues and how to practically apply them Being aware of revenue recognition fraud issues Structure and Content of Both General and Specific Elements of Financial Statements IAS 1 Balance Sheet Income Statement Presenting Either a Statement of Changes In Equity or a Statement of Recognized Income or Expense ( SORIE ) Statement of Cash Flow Consolidation Criteria and Requirements Notes to Financial Statements and Related Disclosures Revenue Recognition and Reporting Requirements Technical understanding of Audit Impact Understanding the more technical and qualitative aspects in financial statements and the message this sends out Technical understanding of opportunities and difficulties that conversion presents Managing change

4 21-25 November 2016, Kuala Lumpur SEMINAR OUTLINE Fees: US$ 5,500/- Day Four Day Five Conversion Preparation to IFRS Technical understanding of main differences between IFRS and US standards Understanding the detailed valuation and disclosure requirements Setting management implementation plans Dealing with change management issues Examining Substantive Differences in Disparate Accounting Treatments Inventory Fixed Assets Valuation Revaluation Depreciation Deferred Taxes Contingencies Performing Thorough Assessments Technical Accounting and Tax Implications and Risks Supporting Established Processes and Infrastructure Considerations Adopting Implementation Plans Conversion Issues and Concerns Technical Accounting and Tax Conversion Issues Designing Supporting Processes and Infrastructure Features Developing Revised Organization Plans and Change Strategies Conversion Maintenance Implementing Support Processes and Infrastructure Features Change Management Execution Strategies Conversion Transfers Comparative Analysis of Companies Adopting or Not Adopting IFRS Impact of IFRS on Financial Statements Interpretations It is vitally important that you not only have the skills to prepare your own financial statements but can also appraise performance and benchmark that against competitors. Understanding of a range of techniques for performances appraisal and benchmarking Understanding the implications for bank covenants and investors Understanding the importance of governance and current issues and best practice Being aware of the technical difficulties of benchmarking and industry comparison International Accounting and Diversity Considerations Financial Analysis Tools and Techniques Common Size Statements Trend Analysis Ratio Analysis Dupont Analysis Z Scores Investment Ratios Cash Flow Ratios Peer Group and Industry Comparisons Importance of Corporate Governance and Awareness of IFRS Best Practices Future IFRS Considerations

5 International Financial Reporting Standards (IFRS) November 2016 Doha - Qatar Course Fees - USD 4,950 ( per delegate ) REGISTRATION DETAILS DELEGATE NAME: DESIGNATION: COMPANY: ADDRESS: CITY: COUNTRY: TELEPHONE: MOBILE: FAX: AUTHORISATION DETAILS AUTHORISED BY: DESIGNATION: COMPANY: ADDRESS: CITY: COUNTRY: TELEPHONE: MOBILE: FAX: PAYMENT DETAILS Please invoice my company Please invoice me Cheque payable to GLOMACS CERTIFICATION Successful participants will receive GLOMACS Certificate of Completion 4 WAYS TO REGISTER À +971 (04) (04) Á info@glomacs.ae < TERMS AND CONDITIONS Fees Each fee is inclusive of Documentation, Lunch and refreshments served during the entire seminar. Mode of Payment The delegate has the option to pay the course fee directly or request to send an invoice to his/her company/sponsor. Credit card and cheque payments are both acceptable. Cancellation / Substitution Request for seminar cancellation must be made in writing & received three (3) weeks prior to the seminar date. A US$ processing fee will be charged per delegate for each cancellation. Thereafter, we regret that we are unable to refund any fees due, although in such cases we would be happy to welcome a colleague who would substitute for you. Hotel Accommodation is not included in the course fee. A reduced corporate rate and a limited number of rooms may be available for attendees wishing to stay at the hotel venue. Requests for hotel reservations should be made at least three (3) weeks prior to the commencement of the programme. All hotel accommodation is strictly subject to availability and terms and conditions imposed by the hotel will apply. Attendance Certificate a certificate of attendance will only be awarded to those delegates who successfully completed/attended the entire seminar including the awarding of applicable Continuing Professional Education Units/Hours. Force Majeure any circumstances beyond the control of the Company may necessitate postponement, change of seminar venue or substitution of assigned Instructor. The Company reserves the right to exercise this clause and implement such amendments. Fair Access / Equal Opportunities In the provision of its services as a world-class Training Provider, the Company is committed to provide fair access / equal opportunities throughout the delivery of its courses and assessment leading to the completion of training seminars, or 3rd party qualifications/certifications. Connect with Us On LinkedIn P.O. Box Dubai, U.A.E. T: +971 (04) F: +971 (04) E: info@glomacs.ae W: Scan the QR Code* to visit and connect to our LinkedIn profile. *Requires QR code reader/scanner application to be installed on your smartphone.