Course Overview

In today’s globalised financial landscape, transparent, consistent, and comparable reporting is essential for building investor confidence and supporting sound business decisions. The International Financial Reporting Standards (IFRS) provide a common accounting language that enables organisations worldwide to communicate financial information clearly and reliably.

The International Financial Reporting Standards (IFRS) Training by Transformentors Academy offers a comprehensive and practical exploration of IFRS principles, applications, and compliance requirements. Delivered over five intensive days, the programme provides a solid understanding of the IASB’s Conceptual Framework, guides participants in preparing IFRS-compliant financial statements, and covers key standards related to assets, liabilities, revenue, leases, and financial instruments.

Through real-world case studies, participants will also explore key differences between IFRS and GAAP, develop expertise in group consolidation, and learn to interpret IFRS-based financial reports for strategic decision-making. This course is designed to strengthen financial reporting accuracy, enhance transparency, and align organisations with global best practices.

Agenda

Day — 1 Introduction to IFRS

• Understanding the background, purpose, and global adoption of IFRS
• Clarifying the objectives of general-purpose financial reporting
• Exploring the IASB’s Conceptual Framework, including:
  • Qualitative characteristics of useful financial information
  • Elements of financial statements
  • Recognition criteria
• Identifying key differences between IFRS and GAAP
• Understanding the structure of IFRS standards and how they are developed and updated
• Case Study: Compare financial statements prepared under GAAP and IFRS to identify key differences

Day — 2 Presentation of Financial Statements

• Understanding IAS 1 requirements for presenting financial statements, including:
  • Statement of financial position
  • Statement of profit or loss
  • Statement of changes in equity
  • Statement of cash flows
  • Notes to the financial statements
• Exploring IAS 7 and the classification of cash flows into:
  • Operating activities
  • Investing activities
  • Financing activities
• Examining IAS 8 requirements for accounting policies, changes in estimates, and correction of errors
• Understanding IFRS 5 requirements for the presentation of discontinued operations
• Reviewing IAS 24 requirements for related party disclosures
• Exploring IAS 10 and the treatment of events after the reporting period
• Examining fair value measurement principles under IFRS 13

Day — 3 Assets, Liabilities, and Revenue Recognition under IFRS

• Understanding IAS 2 requirements for inventories, including measurement, cost formulas, and net realisable value
• Exploring IAS 16 for property, plant, and equipment, covering recognition, measurement, depreciation, and revaluation models
• Applying IAS 23 principles for borrowing costs and the capitalisation of qualifying assets
• Examining IAS 38 for the recognition and measurement of intangible assets
• Understanding IAS 40 requirements for investment property and its valuation approaches
• Applying IAS 36 to assess impairment of assets and determine recoverable amounts
• Reviewing IAS 19 for employee benefits and IFRS 2 for share-based payments
• Understanding IFRS 15 principles for recognising revenue from contracts with customers
• Examining IAS 37 requirements for provisions, contingent liabilities, and contingent assets

Day — 4 Financial Instruments, Leases, and Advanced Standards

• Understanding IFRS 9 requirements for financial instruments, including:
  • Classification
  • Measurement
  • Impairment
  • Hedge accounting
• Reviewing IAS 32 and IAS 39 to complement IFRS 9, focusing on presentation, derivatives, and hedging guidance
• Exploring IFRS 16 on leases, including:
  • Recognition of right-of-use assets
  • Accounting for lease liabilities for both lessees and lessors
• Examining IAS 12 requirements for income taxes, including the recognition of deferred tax assets and liabilities
• Understanding IAS 21 and the impact of foreign exchange rate changes on financial reporting
• Exploring disclosure requirements under IFRS 7 and IFRS 12

Day — 5 Group Accounting, Consolidations, and Analysis of IFRS Financial Statements

• Reviewing IFRS 3 on business combinations, including:
  • The acquisition method
  • Recognition and measurement of goodwill
  • Treatment of non-controlling interests
• Understanding IFRS 10 and the concept of control in preparing consolidated financial statements
• Exploring the consolidation process and key adjustments required
• Examining IAS 27 requirements for separate financial statements
• Understanding IAS 28 for accounting of investments in associates and joint ventures
• Exploring IFRS 11 on joint arrangements and IFRS 12 disclosure requirements for interests in other entities
• Reviewing IFRS 8 on operating segments to enhance transparency and stakeholder reporting
• Developing skills to analyse and interpret IFRS-based financial statements effectively
• Course Evaluation and Key Takeaways

Learning Outcomes

By attending the International Financial Reporting Standards (IFRS) training course, participants will be able to:

• Understand the purpose, structure, and global adoption of IFRS, and compare it with other frameworks such as GAAP
• Apply the IASB Conceptual Framework, including qualitative characteristics, recognition criteria, and measurement bases
• Prepare and present IFRS-compliant financial statements in accordance with IAS 1, IAS 7, and related standards
• Account for key assets, liabilities, and revenue transactions using standards such as IAS 2, IAS 16, IAS 23, IAS 36, IAS 38, IAS 40, IAS 19, IFRS 2, and IFRS 15
• Apply advanced IFRS requirements related to financial instruments, leases, and taxation, including IFRS 9, IFRS 16, IAS 12, IAS 21, and associated standards
• Perform group accounting and consolidations using IFRS 3, IFRS 10, IFRS 11, IAS 27, IAS 28, and IFRS 12
• Enhance transparency and governance through effective disclosures by applying IFRS 5, IAS 24, IAS 34, IFRS 7, and IFRS 8
• Analyse and interpret IFRS-based financial statements using ratio analysis, segment reporting, and trend evaluation

Who Should Attend

This programme is designed for professionals involved in financial reporting, auditing, and accounting who need to apply IFRS in practice. It is particularly suitable for:

• Financial accountants and reporting specialists responsible for preparing IFRS-compliant financial statements
• Finance managers and controllers overseeing compliance, disclosures, and reporting integrity
• Auditors and internal auditors seeking to strengthen their understanding of IFRS frameworks
• Treasury, tax, and corporate finance professionals involved in valuations, consolidations, and financial analysis
• Consultants and analysts supporting organisations with IFRS adoption and implementation
• Executives and board members who require a working knowledge of IFRS to support governance and strategic decision-making