IFRS (International Financial Reporting Standards)

Why Attend

This training program is designed and delivered by Commonwealth Training and Consulting Africa, a leading institution in providing specialized training and certification programs worldwide. IFRS (International Financial Reporting Standards) is a set of international accounting standards that are issued by the International Accounting Standards Board (IASB) and aim to bring transparency, accountability, and efficiency to financial markets around the world.

Overview

Course Outline

Schedule & Fees

Course Methodology

Instructor-led training that uses interactive learning methods, including class discussion, small group activities, and role-playing

Course Objectives

Overview of IFRS and its global significance.; The regulatory environment of IFRS and its development.; Structure of IFRS: Standards, Interpretations, and Framework.; Comparison of IFRS vs. Local GAAP (Generally Accepted Accounting Principles).; Detailed look into the IFRS conceptual framework.

Target Audience

This program is ideal for professionals who are involved in financial reporting, accounting, or audit processes, including: Overview of IFRS and its global significance.; The regulatory environment of IFRS and its development.; Structure of IFRS: Standards, Interpretations, and Framework.; Comparison of IFRS vs. Local GAAP (Generally Accepted Accounting Principles).; Detailed look into the IFRS conceptual framework.

Target Competencies

n/a

Day 1: Introduction to IFRS & the Framework

Overview of IFRS and its global significance.
The regulatory environment of IFRS and its development.
Structure of IFRS: Standards, Interpretations, and Framework.
Comparison of IFRS vs. Local GAAP (Generally Accepted Accounting Principles).
Detailed look into the IFRS conceptual framework.

Day 2: IFRS Standards - Financial Statement Presentation

Understanding IFRS 1: First-time Adoption of IFRS.
Overview of key IFRS standards: IFRS 2 (Share-based Payment), IFRS 3 (Business Combinations), IFRS 4 (Insurance Contracts).
Key principles in preparing IFRS-compliant financial statements.
Format of financial statements under IFRS: Statement of Financial Position, Income Statement, Cash Flow Statement.
The role of disclosures in IFRS financial statements.

Day 3: IFRS Standards – Revenue Recognition & Financial Instruments

Detailed discussion on IFRS 15: Revenue from Contracts with Customers.
The impact of IFRS 9: Financial Instruments on accounting for financial assets and liabilities.
Classification and measurement of financial instruments under IFRS 9.
IFRS 16: Leases – Overview, accounting treatments for lessees and lessors.
Key differences in revenue recognition between IFRS and other standards.

Day 4: IFRS Standards – Specialized Topics

IFRS 13: Fair Value Measurement.
IFRS 10: Consolidated Financial Statements.
IFRS 11: Joint Arrangements and IFRS 12: Disclosures of Interests in Other Entities.
IFRS 14: Regulatory Deferral Accounts.
Practical challenges of implementing IFRS in complex corporate structures.
The role of auditors in IFRS compliance.

Day 5: IFRS Implementation, Challenges & Future Trends

Transitioning from local standards to IFRS: Best practices and challenges.
The importance of internal controls and training in successful IFRS adoption.
Overview of recent IFRS amendments and upcoming changes.
IFRS and its impact on financial reporting for multinational companies.
Group exercise: Preparing a sample set of financial statements based on IFRS.

$3875

Muscat

Country: Oman

Duration: One week

Date: 29 Sep–03 Oct 2025

$4475

Vienna

IFRS (International Financial Reporting Standards)

Overview

Course Outline

Schedule & Fees

Course Methodology

Course Objectives

Target Audience

Target Competencies

$3875

Country: Oman

Duration: One week

Date: 29 Sep–03 Oct 2025

$4475

Country: Austria

Duration: One week

Date: 06–10 Apr 2026