IFRS Fundamentals

Objectives

By the end of the training session, the participants will:

• Gain knowledge on the various IFRS standards and apply it to the preparation of
  IFRS compliant financial statements
• Gain an in depth understanding of the IFRS rules on financial instruments
• Learn how to recognise equity versus liability and how to measure liabilities in accordance
  with relevant IFRSs
• Be able to apply the rules relating to business combinations including reverse acquisitions
• Develop methods to present information clearly in IFRS financial statements

Content

• Introduction to IFRS and US GAAP
  •  IFRS organisational bodies and due process
  • Conceptual framework
• Contents of IFRS financial statements
  • Presentation of financial statements (IAS 1)
  • Statement of cash flows (IAS 7)
  • Accounting policies, changes in accounting estimates and errors (IAS 8)
  • Discontinued operations (IFRS 5)
  • Events after the reporting period (IAS 10)
  • Operating segments (IFRS 8)
  • Interim financial reporting (IAS 34)
• Financial instruments
  • Presentation (IAS 32)
  • Recognition and Measurement (IFRS 9)
  • Disclosures (IFRS 7)
• Business combinations, Subsidiaries, Associates and Joint Ventures
  • Business combinations (IFRS 3)
  • Consolidated financial statements (IFRS 10)
  • Investments in associates and joint ventures (IAS 28)
  • Joint arrangements (IFRS 11)
  • Disclosure of interests in other entities (IFRS 12)
• Assets
  • Investment property (IAS 40)
  • Property, plant and equipment (IAS 16)
  • Borrowing costs (IAS 23)
  • Intangible assets (IAS 38)
  • Impairment of assets (IAS 36)
  • Non-current assets held for sale and discontinued operations (IFRS 5)
• Liabilities
  • Leases (IFRS 16)
  • Provisions, contingent liabilities and contingent assets (IAS 37)
  • Income taxes (IAS 12)
• Revenue from contracts with customers (IFRS 15)
• Effects of changes in foreign exchange rates (IAS 21)

Speakers

Our speakers come from all over our specialised and complementary teams, covering all legal, regulatory, taxation and advisory aspects of doing business in Luxembourg. We invite you to check our training agenda where the speakers are listed on each training session.

Target Group

Accountants preparing the IFRS
Other professionals reviewing IFRS financial statements

Duration

2 days (from 9.00 to 17.30)

Language

English

For more information please contact us by e-mail at institute@arendt.com