- Regulatory, financial, risk and ethics frameworks - Know the regulatory, financial, risk and ethics frameworks (Sarbanes-Oxley, AMF and SEC regulations, etc.).
- 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)
- Revenues (sales) - Revenues (sales) - Sales recognition - Contract analysis - Performance obligation - Price allocation
Fundamentals
Target audience
- Consolidators
- Controllers
- Accounting and consolidation managers
- Chartered accountants
- Financial managers
3 day
IFRS training
Prerequisites
No prior knowledge is required
Objectives
◗ Learn the fundamentals of IFRS.
◗ Implement IFRS in the company’s accounting and financial processes.
◗ Process major accounting transactions in accordance with IFRS.
◗ Identify the main differences between French accounting standards and IFRS.
Training program
◗ Introduction to IFRS
- Conceptual framework and substance over form
- Convergence in France and other countries
- Recent discussions and developments
◗ Fixed assets and leases
– Property, Plant, and Equipment (IAS 16 and related standards: IAS 20, IAS 23): recognition of acquisition costs and subsequent costs, component-based approach
– Intangible Assets and Capitalizable Expenditures (IAS 38)
– Leases (IFRS 16): determining the lease liability and the right-of-use asset
✔ UNDERSTAND | Illustrations: Review of consolidated financial statements
✔ APPLY | Practical examples: component-based accounting, accounting for major maintenance costs, accounting for a lease (from the lessee’s perspective)
✔ EVALUATE | Quiz: Recognizing expenses as current expenses or capitalizing them as fixed assets
◗ Inventories (IAS 2)
- Determination of entry cost and closing valuation, inventory write-downs
◗ Asset Impairment Tests (IAS 36)
– Principles and Practical Application
– Determining Value in Use and Fair Value
✔ UNDERSTAND | Illustrations: Review of Consolidated Financial Statements
✔ APPLY | Case Study: Identifying Impairment Situations and Assessing the Amount of Impairment to Be Recognized
✔ EVALUATE | Quiz: Situations Leading to the Recognition of an Impairment Loss
◗ Revenue Recognition (IFRS 15)
– Analysis based on three questions: What are we selling, when, and at what price?
– Special cases: contract costs, barter transactions, payment terms, licenses, contract amendments
✔ PRACTICE | Group discussions: review of ESMA enforcement decisions
✔ EVALUATE | Quiz: dates of transfer of control (ongoing or one-time)
◗ Liabilities and Provisions (IAS 37)
– Criteria for Recognizing a Provision
– Contingent Liabilities and Other Off-Balance-Sheet Commitments
– Focus on Restructuring Provisions and Loss-Making Contracts
– Impact on Lease Contracts (IFRS 16) and Contract Assets (IFRS 15)
✔ APPLY | Case study: identifying provisions
✔ EXPERIMENT | Group discussion: evaluating a provision
◗ Employee Benefits (IAS 19)
– Apply the projected unit credit method
– Understand and account for actuarial gains and losses
– Handle plan amendments
✔ APPLY | Case study: Calculating a defined benefit obligation
✔ EVALUATE | Quiz: Identifying the type of plan (defined contribution vs. defined benefit)
◗ Treatment of share-based payments (IFRS 2)
– Accounting for Stock Options and Bonus Shares
✔ APPLY | Case Study: Accounting for an Equity-Settled Plan
◗ Noncurrent assets held for sale and discontinued operations (IFRS 5)
– Conditions for Applying IFRS 5
– Impacts on the Presentation of Financial Statements
✔ PRACTICE | Group Discussion: When should IFRS 5 be applied?
Why choose this course?
Whether you’re looking for a comprehensive introduction or a thorough review, this training course will help you understand IFRS, apply them, and develop the “right habits.” It thus provides the cross-functional perspective and broader context necessary for the professional application of IFRS. It is the first part of a comprehensive five-day session, the second part of which is the “IFRS in Practice – Part 2” course [FHIFRB].
Save 15% when you combine these two courses (IFRS in Practice, Parts 1 and 2): €4,250 (excluding tax) instead of €5,000 (excluding tax)
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: a mix of theoretical concepts and examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
2,750 EXCL. TAX
Testimonials
IFRS training
IFRS training
IFRS training
IFRS training
Jonathan C.
Company
Training