Preamble

The International Financial Reporting Standards (IFRS) are continually evolving to reflect changes in the global financial landscape. Staying updated with the latest IFRS revisions is crucial for finance professionals, auditors, and corporate decision-makers to ensure compliance, improve financial transparency, and enhance reporting accuracy.

This training program provides participants with in-depth knowledge of the latest IFRS updates, their implications on financial statements, and best practices for implementation. It is designed to help organizations align their reporting practices with international accounting standards while addressing emerging financial reporting challenges.

Training Objectives

By the end of this training, participants will be able to:
✅ Understand the latest amendments and updates in IFRS.
✅ Analyze the impact of IFRS changes on financial statements.
✅ Apply new recognition, measurement, and disclosure requirements.
✅ Ensure compliance with global financial reporting frameworks.
✅ Enhance financial transparency and decision-making.
✅ Identify challenges in IFRS implementation and develop mitigation strategies.

Training Content

Module 1: Overview of IFRS and Recent Updates

📌 Introduction to IFRS and its role in global financial reporting
📌 Key principles and objectives of IFRS
📌 Overview of the latest IFRS amendments and their effective dates
📌 Comparison of previous and updated IFRS standards

Module 2: Key IFRS Updates and Their Implications

📌 IFRS 9 (Financial Instruments) – New hedge accounting rules and impairment model
📌 IFRS 15 (Revenue Recognition) – Adjustments to performance obligations and contract reporting
📌 IFRS 16 (Leases) – Impact on lease liabilities and right-of-use assets
📌 IFRS 17 (Insurance Contracts) – Changes in insurance contract measurement and reporting
📌 Updates on IFRS 1 to IFRS 14 and their relevance to financial statements

Module 3: Financial Statement Impact and Adjustments

📌 How IFRS updates affect income statements, balance sheets, and cash flows
📌 Measurement and valuation changes under revised IFRS guidelines
📌 Adjusting financial models to align with IFRS updates
📌 Ensuring accurate disclosures and compliance in financial reports

Module 4: Industry-Specific IFRS Applications

📌 IFRS considerations for banking and financial services
📌 IFRS compliance for manufacturing, retail, and real estate sectors
📌 Specialized accounting standards for insurance and investment firms
📌 Addressing IFRS challenges in multinational corporations

Module 5: IFRS Implementation and Compliance Strategies

📌 Best practices for transitioning to new IFRS standards
📌 Developing internal policies and frameworks for IFRS compliance
📌 Aligning IFRS updates with audit and tax reporting requirements
📌 Common challenges in IFRS adoption and solutions

Final Assessment & Certification

📌 Case study analysis on real-world IFRS applications
📌 Certification awarded upon successful completion

Target Market

This training is suitable for:
✅ Finance & Accounting Professionals – Ensuring compliance with IFRS updates.
✅ Auditors & Compliance Officers – Assessing IFRS alignment in financial statements.
✅ CFOs & Financial Controllers – Implementing IFRS changes in financial strategy.
✅ Tax & Regulatory Experts – Understanding IFRS implications on taxation and reporting.
✅ Banking & Investment Analysts – Applying IFRS rules in financial evaluations.
✅ Corporate Executives & Decision-Makers – Enhancing strategic financial planning.

Training Methodology

✔ Instructor-Led Training (ILT) – Expert-led sessions on IFRS updates.
✔ Case Studies & Practical Exercises – Real-world applications of IFRS changes.
✔ Financial Statement Simulations – Adjusting reports based on IFRS revisions.
✔ Group Discussions & Q&A – Interactive sessions on implementation challenges.
✔ E-Learning Modules – Self-paced training materials for flexible learning.
✔ Assessments & Certification – IFRS knowledge testing and certification upon completion.