International Financial Reporting Standards (IFRS) and 2018 Updates Page 1 of 11
Why Attend Our 'International Financial Reporting Standards (IFRS) and 2018 Updates' course will help build the knowledge you need in IFRS for success in today's global business world. Like you, we believe those who understand and apply IFRS will enjoy expanded career opportunities as its use is spreading around the world. Developed with input from subject matter experts from across the region, this course is designed to provide accounting and finance professionals with the training, knowledge and practical guidance needed to use IFRS and stay up to date with its newest standards and changes. Course Methodology The course uses a mix of interactive techniques, such as brief presentations by the consultant, application of theories presented by the consultant and group exercises to exchange experience and apply knowledge acquired throughout the course. Course Objectives By the end of the course, participants will be able to: Describe the setting process in IFRS and list the currently available standards Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization Determine the correct presentation and minimum disclosure for components of statements of financial position, statements of comprehensive income, statements of owners' equity and statements of cash flows in accordance with IFRS Appraise and properly account for transactions affecting current assets and liabilities, non current assets and liabilities, revenues and expenses in accordance with IFRS Apply professional judgment in applying IFRS for matters relating to non recurrent business transactions Target Audience Professionals in the fields of finance and accounting as well as professionals seeking to enhance their international accounting knowledge from companies implementing IFRS as the standard of reporting. Target Competencies Understanding financial statements Financial reporting Applying IFRS Accounting for current and non current assets and liabilities Classifying investments Describing updates and amendments Assessing impact on financial accounts Note Course Outline Introduction to IFRS and presentation of financial statements Defining the term 'IFRS' IFRS standard setting process Financial position presentation format as per IAS1, presentation of financial statements Components and classification of current and non-current assets and liabilities Offsetting assets and liabilities Income statement minimum presentation requirements as per IAS1, presentation of financial statements Presentation of revenues and expenses by nature or by function Components and classification of stockholders equity Other comprehensive income: nature of its components Supplemental disclosures Page 2 of 11
IFRS rules for current assets and liabilities Cash and cash equivalents (IFRS 9) Accounts receivable (IFRS 9): Estimating allowance for doubtful and bad debts Pledging, assigning and factoring of receivables Accounts payable and accruals (IFRS 9) Inventory (IAS 2): Ownership: when to include inventory in your books Measurement at initial recognition: what to include in 'cost' Inventory cost-flow assumptions Subsequent measurement: lower of cost or net realizable value IFRS rules for non-current assets and liabilities Property, plant and equipment (IAS 16): Initial recognition and subsequent measurement Cost model versus revaluation model Assets held-for-sale (IFRS 5) Treatment of decommissioning costs (IAS 37) Impairment of property, plant and equipment (IAS 36) Intangible assets (IAS 38) Situations where some intangible assets are not recognized in financial positions Cost model versus revaluation model Investment property (IAS 40) Distinguishing investment property from other assets Cost model versus fair value model Provisions, contingent liabilities and contingent assets (IAS 37) Investment securities (IFRS 9) Type of investment securities Classification under IFRS 9: Fair Value Through Profit or Loss (FVTPL), Fair Value Through Other Comprehensive income (FVTOCI), amortized cost Initial recognition and subsequent measurement Transfer between categories Impairment of financial assets under the new standard Revenue from contracts with customers (IFRS 15) Scope of IFRS 15 Describing the five-step model framework under IFRS 15 Step 1: Identifying the contract with the customer Step 2: Identifying the performance obligations in the contract Separating goods from services Step 3: Determining the transaction price Effect of time value of money Accounting for variable consideration Step 4: Allocating the transaction price to the performance obligations in the contract Step 5: Recognizing revenue when the entity satisfies a performance obligation Separating performance obligation satisfied at a point in time from performance obligation satisfied over a period of time IFRS 16, Leases Reasons for the transition from IAS 17 to IFRS 16 Page 3 of 11
Recognition exemptions: expensing lease payments How will the lease of small value items be affected Identifying a lease transaction Separating components of lease contract Accounting by lessees Accounting by lessors Effective date and transition Wrap-up on newest standards and list of current and prior years' updates on IFRSs Newest standards published by IASB Standards amended in 2015 with effect in 2018 Standards amended in 2016 with effect in 2018 Standards amended in 2017 with effect in 2018 Standards amended in 2018 Page 4 of 11
Associations National Association of State Boards of Accountancy (NASBA) : Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org Location & Date 11-15 Nov, 2018 Kempinski / Mall of the Emirates : US$ (including coffee breaks and a buffet lunch daily) Per participant - 2018 Per participant - 2019 + VAT as applicable UAE Tax Registration Number 100239834300003 This course is worth 25 NASBA CPEs. Page 5 of 11
18-22 Nov, 2018 Certificate in Fixed Assets Accounting and US$ 4900 18-22 Nov, 2018 Financial Controller Workshop 18-22 Nov, 2018 Preparing Financial Statements and the Annual Report 25-29 Nov, 2018 Certificate in Advanced Financial Modeling US$ 4900 25-29 Nov, 2018 Certified Corporate Financial Planning & Analysis Professional (Cert FP&A): Preparation Course - Part 1 US$ 4900 2-6 Dec, 2018 Accounting for Non-Accountants 2-6 Dec, 2018 9-13 Dec, 2018 Accounts Payable: From Accounting to 9-13 Dec, 2018 Corporate Finance Workshop 9-13 Dec, 2018 Fast Closing Monthly and Year-End Accounts 9-13 Dec, 2018 Payroll: Preparation, Analysis and 16-20 Dec, 2018 16-20 Dec, 2018 Efficient Finance and Accounting Operations: 2018 Best Practices and Updates 16-20 Dec, 2018 16-20 Dec, 2018 Next Generation Excel: Advanced Business and Financial Reporting 23-27 Dec, 2018 23-27 Dec, 2018 Financial Analysis Workshop 6-7 Jan, 2019 Basic Mechanics and Accounting for VAT US$ 2600 27-31 Jan, 2019 3-7 Feb, 2019 Financial Modeling Workshop Using Excel 10-14 Feb, 2019 Accounts Payable: Accounting and Best Practices 10-14 Feb, 2019 10-14 Feb, 2019 17-21 Feb, 2019 Accounts Receivable and Credit Policies 17-21 Feb, 2019 Certificate in Professional Accounting 17-21 Feb, 2019 Certified Financial Manager Page 6 of 11
24-28 Feb, 2019 Dynamic Business Reports and Dashboards Using Excel 24-28 Feb, 2019 Financial Acumen: Roadmap to Business Success 3-7 Mar, 2019 Accounting for Non-Accountants 3-7 Mar, 2019 Certificate in Cost Analysis, Control and Optimization 10-14 Mar, 2019 Certificate in Accounting and Financial Control 10-14 Mar, 2019 Financial Analysis Workshop 10-14 Mar, 2019 Payroll: Preparation, Analysis and 17-21 Mar, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Updates 17-21 Mar, 2019 International Financial Reporting Standards (IFRS) and 2019 Updates 17-21 Mar, 2019 Managing the Collections and Credit Control Team 17-21 Mar, 2019 Preparing Financial Statements and the Annual Report 24-28 Mar, 2019 Certificate in Fixed Assets Accounting and 24-28 Mar, 2019 Certificate in Advanced Financial Modeling 24-28 Mar, 2019 Certificate in Treasury and Cash 24-28 Mar, 2019 Fast Closing Monthly and Year-End Accounts 31 Mar - 4 Apr, 2019 7-11 Apr, 2019 7-11 Apr, 2019 Professional Skills for Finance and Accounting 14-18 Apr, 2019 Policies and Procedures 14-18 Apr, 2019 Preparation for Certificate in Financial Planning & Analysis (Cert FP&A) 14-18 Apr, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course 14-18 Apr, 2019 Next Generation Excel: Advanced Business and Financial Reporting Page 7 of 11
21-25 Apr, 2019 Certificate in Advanced Budgeting and Forecasting 21-25 Apr, 2019 Cairo 21-25 Apr, 2019 Six Dimensions of Effective Accounting and Finance Teams 28 Apr - 2 May, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Updates 28 Apr - 2 May, 2019 9-13 Jun, 2019 Certificate in Advanced Financial Modeling 9-13 Jun, 2019 16-20 Jun, 2019 Accounts Payable: Accounting and Best Practices 16-20 Jun, 2019 16-20 Jun, 2019 23-27 Jun, 2019 Advanced Excel: Power Query, Power Pivots and Macros 23-27 Jun, 2019 7-11 Jul, 2019 Certified Financial Manager 14-18 Jul, 2019 Certificate in Advanced Budgeting and Forecasting 21-25 Jul, 2019 Fast Closing Monthly and Year-End Accounts 28 Jul - 1 Aug, 2019 Financial Modeling Workshop Using Excel 4-8 Aug, 2019 4-8 Aug, 2019 25-29 Aug, 2019 Istanbul 25-29 Aug, 2019 Forecasting and Analyzing Cash Flow 1-5 Sep, 2019 Accounting for Non-Accountants 1-5 Sep, 2019 Dynamic Business Reports and Dashboards Using Excel 4-6 Sep, 2019 : A Hands-On Workshop Beirut US$ 3600 8-12 Sep, 2019 Corporate Finance Workshop 8-12 Sep, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Updates Abu Dhabi 8-12 Sep, 2019 Financial Analysis Workshop Page 8 of 11
8-12 Sep, 2019 Payroll: Preparation, Analysis and 15-19 Sep, 2019 Accounts Receivable and Credit Policies 15-19 Sep, 2019 International Financial Reporting Standards (IFRS) and 2019 Updates 15-19 Sep, 2019 Professional Skills for Finance and Accounting Istanbul 22-26 Sep, 2019 Certificate in Accounting and Financial Control 22-26 Sep, 2019 Financial Acumen: Roadmap to Business Success 29 Sep - 3 Oct, 2019 Certificate in Treasury and Cash Riyadh 29 Sep - 3 Oct, 2019 Reporting for Business Performance Review 6-10 Oct, 2019 6-10 Oct, 2019 6-10 Oct, 2019 Preparing Financial Statements and the Annual Report 13-17 Oct, 2019 Fast Closing Monthly and Year-End Accounts 13-17 Oct, 2019 Next Generation Excel: Advanced Business and Financial Reporting 13-17 Oct, 2019 Six Dimensions of Effective Accounting and Finance Teams 20-24 Oct, 2019 Accounts Payable: Accounting and Best Practices Riyadh 20-24 Oct, 2019 20-24 Oct, 2019 Financial Forecasting: Tools and Techniques 20-24 Oct, 2019 Managing the Collections and Credit Control Team 27-31 Oct, 2019 27-31 Oct, 2019 Innovative Cost Savings Strategies 3-7 Nov, 2019 Certificate in Treasury and Cash 3-7 Nov, 2019 Trade Finance, Letters of Credit and Bank Guarantees 10-14 Nov, 2019 Certificate in Advanced Budgeting and Page 9 of 11
Forecasting 10-14 Nov, 2019 Certificate in Advanced Financial Modeling 10-14 Nov, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course 10-14 Nov, 2019 Payroll: Preparation, Analysis and 17-21 Nov, 2019 Accounts Payable: Accounting and Best Practices 17-21 Nov, 2019 17-21 Nov, 2019 Certificate in Fixed Assets Accounting and 24-28 Nov, 2019 Advanced Excel: Power Query, Power Pivots and Macros 24-28 Nov, 2019 24-28 Nov, 2019 Forecasting and Analyzing Cash Flow 1-5 Dec, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Updates 8-12 Dec, 2019 Accounts Receivable and Credit Policies 8-12 Dec, 2019 International Financial Reporting Standards (IFRS) and 2019 Updates 8-12 Dec, 2019 Professional Skills for Finance and Accounting 15-19 Dec, 2019 Policies and Procedures 15-19 Dec, 2019 15-19 Dec, 2019 22-26 Dec, 2019 Certificate in Cost Analysis, Control and Optimization 22-26 Dec, 2019 22-26 Dec, 2019 Page 10 of 11
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