EXAM PREPARATION FOR ACCA INTERNATIONAL FINANCIAL REPORTING (CERTIFR)

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COURSE OVERVIEW

CertIFR offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards. This qualification is ideal for professional accountants or auditors. If you have employees with experience, but no formal qualifications in accounting, they may still be able to apply for this certificate. The qualification is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down specific standards topic-by-topic. There are case studies, which are based on real-life examples, and many exercises, multiple-choice questions and sample answers for trainees to test their knowledge as they progress through the course.

COURSE OBJECTIVES

By completely attending this course, participants will be able to:

Help you understand how International Financial Reporting Standards (IFRS) are used around the world.
Explain how the International Financial Reporting Standards Foundation (IFRSF) / International Accounting Standards Board (IASB) work and how these are being changed.
Examine the fundamental requirements of IFRS on a standard-by-standard basis.
Provide guidance on how to use IFRS in practice

certificate in international financial reporting (certifr)

TARGET COMPETENCIES

IASB Operations
Accounting For Assets
Accounting For Liabilities
International Accounting Standards
Differences between GAAP and IFRS

Accountants, senior accountants, financial controller, accounting managers, internal auditors, business analysts, and financial analysts. Also, professionals seeking to enhance international accounting knowledge.

This course combines theoretical discussions, practical case studies, hands-on exercises, group discussions, and interactive workshops. Participants will engage with real-world financial reporting scenarios to gain practical insights and build their expertise.

THE NATURE & OPERATIONS OF THE IASB

The origins of the International Accounting Standards
Board (IASB®, ‘the Board’)
The structure of the IFRS Foundation
International Accounting Standards (IAS® Standards), and International Financial Reporting Standards
(IFRS® Standards) that are currently in issue
The purpose of financial statements – The Conceptual
Framework for Financial Reporting

THE STATUS & USE OF IFRS’s AROUND THE WORLD

A brief summary of the adoption of International
Financial Reporting Standards (IFRS® Standards) in different jurisdictions
The growth of the International Accounting Standards
Board (IASB®, ‘the Board’) and IFRS Standards
IFRS Standards and small and medium-sized entities

PRESENTATION & PROFIT

IAS 1, Presentation of financial statements
IFRS 15, Revenue from contracts with customers
IAS 8, Accounting policies, changes in accounting estimates and errors

ACCOUNTING FOR ASSETS & LIABILITIES – PART 1

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
IFRS 16, Leases
IFRS 5, Non-current assets held for sale and discontinued operations

ACCOUNTING FOR ASSETS & LIABILITIES – PART 2

IFRS 13, Fair value measurement
IAS 32, Financial instruments: presentation
IFRS 9, Financial instruments: recognition and measurement
IFRS 7, Financial instruments: disclosures
IAS 37, Provisions, contingent liabilities & contingent assets
IAS 10, Events after the reporting period
IAS 19, Employee benefits
IAS 12, Income taxes
IFRS 2, Share-based payment
IAS 41, Agriculture
IFRS 6, Exploration for and evaluation of mineral resources

GROUP ACCOUNTING

IFRS 10, Consolidated financial statements
IAS 27 (revised 2011), Separate financial statements
IFRS 3, Business combinations
IAS 28 (revised 2011), Investments in associates and joint ventures
IFRS 11, Joint arrangements
IFRS 12, Disclosure of interests in other entities
IAS 21, The effects of changes in foreign exchange rates
IAS 29, Financial reporting in hyperinflationary 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 UK/US GAAP & IFRS

Convergence of IFRS Standards with US GAAP
Convergence of IFRS Standards with UK GAAP
The work plan of the International Accounting
Standards Board (IASB®, ‘the Board’) operations

IMPORTANT CERTIFICATION NOTES:

Six months online access to course materials and assessment
The fees cover two attempts to re-sit for the assessment
One-hour exam with multiple-choice questions
Delegates will sit for the exam at the end of the course