International Financial Reporting Standards (IFRS) Training Course in Dubai
Financial reporting has become an important driving force for accounting, economic and political reform in many parts of the world. Convergence of financial reporting standards has considerable benefits to prepares of accounts, for listed companies, investors, multinational business and the global economy.
About the Course
Certification Body
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Overview of the IFRS Training Course
IFRS Training Course offers a comprehensive introduction and updates to the field of International Financial Reporting and International Financial Reporting Standards, tracing the history of the International Accounting Standards Board (IASB) from its early roots through to the recent changes and future developments.
Structured in a readable and user-friendly format, the course distills key information into easy-to-digest bullet points, provides useful summaries, and examines, topic-by-topic, specific standards. Frequently asked questions and answers expand on the covered issues; case studies are based on real-life examples.
Exercises, multiple-choice questions, and sample answers are available to test your knowledge. They will guide you as you progress through the course and help you achieve the IFRS Certification.
Primary course objectives:
To help you understand how International Financial Reporting Standards (IFRS) are used around the world
To explain the workings of the IFRSF/IASB and how these are being changed
To examine the fundamental requirements of IFRS on a standard-by-standard basis for the benefit of preparers, auditors and users of financial statements
To provide guidance on how to use IFRS in practice with the aid of questions, cases, and exercises
To explain the fundamentals of IFRS qualification
We provide guidance on how to achieve IFRS Certification
On completion of the IFRS Course, candidates should be able to:
Understand and explain the structure of the framework of international accounting
Apply relevant financial reporting standards to key elements of financial reports
Identify and apply disclosure requirements for companies in financial reports and notes
Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint ventures.
Who needs the IFRS Training Program?
The target audience is professional accountants and auditors, qualified by their national accounting standards. However, it is possible for those with experience but no formal qualifications in accounting and auditing to register for this certificate. Those who want a better IFRS Qualification can also apply for this certificate.
Learning Outcome of IFRS Training
IFRS Course will help you to understand and explain the structure of the framework of international accounting
Apply relevant financial reporting standards to key elements of financial reports
Identify and apply disclosure requirements for companies in financial reports and notes
Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint ventures
Detailed Course Content:
CertIFRS - Certificate in International Financial Reporting
The nature and operations of the IASB
Structure of the IFRSF/IASB
Extant standards of the IASB
The framework
The status and use of IFRSs around the world
The use of IFRS around the world
The IASB roadmap
The annual IASB bound volume and its use
Presentation and profit
IAS 1, Presentation of financial statements
IAS 18, Revenue
IAS 8, Accounting policies, changes in accounting estimates and errors
Asset recognition and measurement
IAS 16, Property, plant and equipment
IAS 38, Intangible assets
IAS 40, Investment Property
IAS 36, Impairment of assets
IAS 23, Borrowing costs
IAS 20, Accounting for government grants and disclosure of government assistance
IAS 2, Inventories
IAS 11, Construction contracts
IAS 17, Leases
IAS 32, Financial instruments - presentation
IAS 39, Financial instruments - recognition and measurement
IFRS 9 Financial instruments
IAS 41, Agriculture
IFRS 7, Financial instruments: disclosures
IFRS 6, Exploration for and evaluation of mineral resources
IFRS 5, Non-current assets held for sale and discontinued operations
Accounting for liabilities
IFRS 2, Share-based payment
IAS 37, Provisions, contingent liabilities and contingent assets
IAS 10, Events after the reporting period
IAS 19, Employee benefits
IAS 12, Income taxes
Group accounting
IAS 27, Consolidated financial statements and accounting for investment in subsidiaries
IFRS 3 Business Combinations
IAS 28, Accounting for investments in associates
IAS 31, Joint ventures
IAS 21, The effects of changes in foreign exchange rates
IAS 29, Financial reporting in hyper inflationary economies
Disclosure standards
IAS 7, Statement of cash flows
IAS 24, Related party disclosures
IAS 33, Earnings per share
IAS 34, Interim financial reporting
IFRS 4, Insurance contracts
IFRS 1, First time adoption of IFRS
IFRS 8, Operating segments
Principal differences between key national GAAP and IFRS Proposals for change
DiplIFRS - Diploma in International Financial Reporting-IFRS Qualification
A. International sources of authority
The International Accounting Standards Board (IASB) and the regulatory framework
B.Elements of financial statements
Revenue recognition
Property, plant, and equipment
Impairment of assets
Leases
Intangible assets and goodwill
Inventories and construction contracts
Financial instruments
Liabilities - provisions, contingent assets and liabilities
Accounting for employment and post-employment benefits
Taxation in financial statements
The effects of changes in foreign currency exchange rates
Agriculture
Share-based payment
Exploration and evaluation expenditures
C. Presentation and additional disclosures
Presentation of the statement of financial position, income statement and statement of comprehensive income
Earnings per share
Events after the reporting date
Accounting policies, changes in accounting estimates and errors
Related party disclosures
Operating segments
Reporting requirements of small and medium-sized entities (SMEs)
D. Preparation of external financial reports for combined entities, associates and joint ventures
Preparation of group consolidated external reports
Business combinations - intra-group adjustments
Business combinations - fair value adjustments
Business combinations - associates and joint ventures
To know more about International Finance Reporting Standard IFRS Certification body click here
CertIFRS – Certificate in International Financial Reporting
DiplIFRS – Diploma in International Financial Reporting
About Awarding Body:
Since the formation of the International Accounting Standards Board (IASB) in 2001, the harmonization of financial reporting has become an important driving force for accounting, economic and political reform in many parts of the world. Convergence of financial reporting standards has considerable benefits to preparers of accounts, for listed companies, investors, multinational business and the global economy. Reducing the barriers to multinational investing and promoting a more efficient and transparent capital market requires the adoption of a robust set of principles based financial reporting standards, broadly accepted and supported by the wider international accounting and investing community. Since 2005 all listed companies in the European Union (EU) have been required to prepare consolidated company accounts in compliance with international financial reporting standards (IFRS). In many other parts of the world there is an increased acceleration towards adoption of IFRS or for the harmonization of national accounting standards with IFRS. Furthermore IFRS is the basis for the accounting treatments prescribed within the IFRS for Small, Medium Entities. The Certificate in International Financial Reporting (CertIFRS) is an ideal qualification to help you develop an understanding of IFRS or gain formal recognition for and update your existing IFRS skills and knowledge. The material is updated each year and therefore includes:
The latest accounting standards updates and releases
An outline of the work programmes and hence plans for development of accounting regulation
The course and assessment are a cost effective and flexible, CertIFRS provides a comprehensive introduction and update to the principles of IFRS and is delivered entirely online. Studying for a further qualification can count towards your continuing professional development (CPD) as long as the qualification is relevant to your learning and development needs. This qualification can provide ACCA members with almost a whole year of verifiable CPD if the course and assessment is completed and passed, which is a cost effective way to meet your annual CPD requirements.
Eligibility:
Cert IFRS – You do not need to have any experience or formal qualifications in accounting and auditing to apply for this certificate.
DiplIFRS – 3 yr experience or Degree + 2yr experience or CertIFRS + 2 yr experience.
Examination Pattern:
Cert IFRS:
You must pass the one-hour multiple-choice assessment which is online. The pass mark is 50 per cent. If you fail, you are allowed two attempts to re-sit this assessment. All attempts at the assessment must be within three months of access to the online course. If you fail after three attempts at the assessment, you will need to pay a further registration fee and will be offered another three attempts to pass the assessment.
DiplIFRS
The Diploma in International Financial Reporting (DipIFRS) is assessed by a single three-hour written exam. You will need to achieve a 50 per cent mark or above to complete the paper.
Examination Dates:
The exam is held twice a year – in June and December at ACCA’s exam centres.
Membership Fee: 236 GBP for a year
Examination Fee:
The course materials and assessment for the Certificate in International Financial Reporting are available together for £210 or can be purchased separately at a cost of £115 each.
ACCA members receive a discount for the Certificate. The course materials and assessment are available together for £168 or can be purchased separately at a cost of £92 each. The discount will be applied automatically when members register online with a valid credit or debit card and enter their ACCA membership number.
About certification and Awarding Body – Option 2
KHDA Certificate :
Course completion certificate attested by KHDA(Knowledge and Human Development Authority, UAE)
The Knowledge and Human Development Authority (KHDA) is responsible for the growth and quality of private education in Dubai. We support schools, universities, parents, students, educators, investors and government partners to create a high quality education sector focused on happiness and wellbeing.
Title : PREPARATION FOR INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
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