International Financial Reporting Standards IFRS

Day 1: Introduction to Corporate Governance and IFRS

• Overview:

  • Importance of Corporate Governance and IFRS in the global context.

  • Review of past accounting scandals (Enron, WorldCom) and lessons learned.

• Objectives:

  • Understanding the case for Corporate Governance and IFRS.

  • Introduction to creative accounting and off-balance sheet financing.

Day 2: Structure of IFRS & Corporate Social Responsibility

• Content:

  • Introduction to the structure of IFRS:

    • International Financial Reporting Standards

    • International Accounting Standards

    • Interpretations & Standing Interpretations Committee

  • Corporate Governance and Corporate Social Responsibility.

  • Adoption of IFRS: Current Issues and Convergence Projects.

Day 3: IFRS Framework & Qualitative Characteristics

• Content:

  • The Framework for the Preparation and Presentation of Financial Statements:

    • Purpose and status

    • Scope and objectives

    • Underlying assumptions

    • Qualitative characteristics of financial statements.

  • Case studies and discussions on IFRS adoption challenges.

Day 4: Key Financial Statements under IFRS

• Content:

  • Overview of key financial statements under IFRS:

    • Balance sheet (Statement of Financial Position)

    • Income statement (Statement of Comprehensive Income)

    • Cash flow statement

    • Statement of Changes in Equity

    • Notes, including Significant Accounting Policies.

  • A review of financial reports based on other standards (USA, UK).

Day 5: Presentation of Financial Statements (IAS 1, IFRS 1, IAS 8)

• Content:

  • Case exercises and syndicate work to analyze:

    • IAS 1 (Presentation of Financial Statements)

    • IFRS 1 (First-time Adoption)

    • IAS 8 (Accounting Policies, Changes in Estimates, and Errors).

  • Detailed case studies of annual financial reports.

Day 6: Financial Reporting Standards Review

• Content:

  • Deep dive into key financial standards:

    • IAS 16 (Property, Plant, and Equipment)

    • IAS 17 (Leases)

    • IAS 23 (Borrowing Costs)

    • IFRS 3 (Business Combinations)

  • Case exercises and group discussions on real-world financial statements.

Day 7: Financial Reporting Standards Review (Part 2)

• Content:

  • Continuation of the review:

    • IAS 27 (Consolidated and Separate Financial Statements)

    • IAS 36 (Impairment of Assets)

    • IAS 37 (Provisions, Contingent Liabilities, and Contingent Assets).

  • Discussion on delegates’ selected cases for analysis.

Day 8: Financial Analysis Techniques & Ratio Analysis

• Content:

  • Introduction to fundamental analysis techniques:

    • Ratio analysis (Profitability, Liquidity, Solvency, etc.)

    • Common size and rate of change statements.

  • Case studies and practical exercises on real financial reports.

Day 9: Advanced Financial Analysis & Excel Tools

• Content:

  • Advanced analysis techniques:

    • Z Score analysis

    • Regression analysis

  • Practical session on using Excel for financial analysis:

    • Key financial formulas

    • Financial functions and Data Analysis ToolPak.

Day 10: Comprehensive Financial Reporting Review & Conclusion

• Content:

  • Review of financial reporting information:

    • Drilling down using accounting policies and notes of explanation.

    • Detailed analysis of working capital, cash flow management, and capital structure.

  • Final case studies and group presentations.

  • Q&A and summary of the training program.