International Financial Reporting Standards IFRS and Updates Training in Istanbul , Turkey
Course Code : FBA157 - Course Address : The Marmara Sisli Hotel - Course Fees : 4400 GBP
|City||Start Date||End Date||View|
|Istanbul , Turkey||10 - 12 - 2023||14 - 12 - 2023||
|Istanbul , Turkey||11 - 2 - 2024||15 - 2 - 2024||
|Istanbul , Turkey||14 - 4 - 2024||18 - 4 - 2024||
The diminishing differences between generally accepted accounting principles (GAAP), principally established by the Financial Accounting Standards Board (FASB), and international financial reporting standards (IFRS), as established by the International Accounting Standards Board (IASB”, is narrowing at a faster pace. IFRS are now the world’s most widely accepted and applied accounting standards with more than 100 countries now requiring or permitting their use.
During this comprehensive programme participants will obtain an understanding of the following bodies of knowledge:
- The basic concepts of accounting and financial reporting disclosures and varying reconciling and non-reconciling 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
As a result of completing this programme, all participants will improve their knowledge, understanding and analytical skills in terms of IFRS in terms of the following benefits:
- Understanding the current and potential future requirements of IFRS, including the final prospects and timetable for the convergence of GAAP and IFRS
- Applying 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
- Understanding the recognition and measurement principles as delineated within the IASB’s Framework and comprehending their application within each accounting standard
- Defining and applying the transition process to IFRS and identifying the first-time exemption as well as exceptions relating to the financial statements of a transitioning organization
- Examining accounting standards that either require or permit the use of fair value measurement (including comparisons to U.S. Financial Accounting Standards Nos. 157 and 159), determining fair value measurements and financial statement recognition issues and presentation
Evolution of International Accounting Standards
- 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
- Introduction and Historical Overview
- Issues, Benefits and Problems of Convergence
- IASB/FASB Projects
- U.S. SEC Adoption Timeline and Activities
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
Preparation and Presentation of IFRS Financial Statements
- 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
Conversion Preparation to IFRS
- Examining Substantive Differences in Disparate Accounting Treatments
- Fixed Assets
- Deferred Taxes
- 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 Statement Interpretations
- 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
Where will the course be held?
The course will be held in Sisli. The exact address and directions will be provided to all enrolled participants prior to the start of the course.
What topics will be covered in the course?
The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.
What is the schedule for the course?
The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.
What do I need to bring to the course?
All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.
What is the instructor's background and experience?
Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.
What are the T&C for this course?
Please visit our Terms and Conditions page
What kind of certificate will I receive upon completion of the course?
Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.