- Regulatory, financial, risk and ethics frameworks - Know the regulatory, financial, risk and ethics frameworks (Sarbanes-Oxley, AMF and SEC regulations, etc.).
- Consolidation - Know the principles and methods of consolidation (full consolidation - equity method). Analyze consolidated financial statements.
- IFRS consolidation - Accounting production: How to produce IFRS consolidated financial statements
- Financial statements and appendices - Balance sheet, income statement, cash flow statement, statement of changes in equity, ICOs, appendices
- IFRS - International Financial Reporting Standards (IFRS)
Acquire the fundamentals
Target audience
- Internal auditors
- Bankers / Account managers
- Project managers
- Management controllers
- Consolidation and accounting managers
- Financial managers and controllers
- Tax specialists
- Non-financial managers
- Members of the financial communications department
- Financial managers
- All professionals who want to understand the essentials of IFRS without needing to become experts.
1 day
IFRS Essentials training
Prerequisites
No special prerequisites are required.
Objectives
◗ Interpreting a company's financial performance based on IFRS fundamentals
◗ Analyze the main impacts of IFRS on financial statements and corporate organization
◗ Applying the essential principles of IFRS and identifying their limitations
◗ Identifying the challenges of IFRS financial reporting
Training program
◗ Understanding IFRS logic and the standards framework
- IFRS objectives, conceptual framework and investor vision
- Development process: IASB, EFRAG, European endorsement
- Differences between IFRS and French GAAP
✔ UNDERSTAND | Illustration: diagram of the European standard-setting process.
✔ ASSESS | Quiz: in your opinion... When should IFRS standards be applied?
◗ How to read IFRS financial communication
- The 5 components: balance sheet, statement of comprehensive income, cash flow statement,
statement of changes in shareholders' equity, notes
- Presentation of ICOs
- Unstandardized financial presentation
- Free performance indicators
- More extensive notes
✔ APPLY | Workshop: identify the differences in presentation between company and consolidated IFRS financial statements.
✔ APPLY | Case study: reconstituting statements from an IFRS grid
◗ Getting to grips with the main IFRS accounting principles
- Commitment accounting
- Fair value: more widespread application, but not across the board
- Discounting
◗ Understanding the most widely used IFRS standards: accounting principles and challenges
- Property, plant and equipment and intangible assets (IAS 16 and IAS 38)
✔ UNDERSTAND | Asset recognition decision tree
✔ APPLY | Case study: identifying costs to be capitalized
- Business combinations and the calculation of goodwill (IFRS 3)
✔ APPLY | Case study: valuing goodwill using the 2 methods
- Impairment testing (IAS 36)
✔ ASSESS | Quiz: in your opinion... Which assets should be tested and how often?
- Liabilities and provisions (IAS 37)
✔ APPLY | Practical case: for each situation, identify the provisions to be recognized.
- Leases (IFRS 16)
✔ UNDERSTANDING | Illustration: summary table on the impacts of IFRS 16
on the financial statements
- Sales recognition (IFRS 15)
✔ UNDERSTANDING | Diagram of the 5 stages of sales recognition
- Employee benefits (IAS 19)
✔ UNDERSTANDING | Summary table of the main plans in force in France
- Financial instruments (IFRS 9)
✔ UNDERSTANDING | Financial instrument valuation decision tree
Why choose this course?
IFRS is not just an accounting issue, but also a major challenge for financial communication. This one-day course provides a comprehensive understanding of IFRS and what is at stake for companies.
Teaching and assessment methods
Before : self-assessment quiz
During the session: a round-table discussion at the start of the training session identifies and selects the specific topics to be covered during the day. Illustrations are drawn from current events and real-life cases encountered by companies and/or from the facilitator's experience in the field. Practical case studies and interactive quizzes during the session ensure that knowledge has been acquired.
Afterwards: documentation.
The trainer is available to answer any questions relating to the training.
General training | FinHarmony Conseil & Formation
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Price
1,295€ EXCL. TAX
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IFRS Essentials training
IFRS Essentials training
IFRS Essentials training
IFRS Essentials training
Jonathan C.
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