IFRS in practice – Part 1
  • Compliance and regulatory frameworks - Know regulatory, financial, risk and ethical frameworks (Sarbanes-Oxley system, AMF and SEC regulations, etc.).
  • Consolidation under IFRS - Accounting production: Know how to prepare consolidated accounts under IFRS.
  • Financial statements and notes - Know the balance sheet, the income statement, the cash flow statement, the statement of changes in shareholders' equity, the OIC, the notes.
  • IFRS standards - International Financial Reporting Standards
  • Revenues (sales) - Revenues (turnover) - Revenue recognition - Contract analysis - Performance obligation - Price allocation

Target audience

- Accountants
- Chartered Accountants, Statutory Auditors
- Consolidation and Accounting Directors
- Consolidators
- Financial managers
- Management controllers

3 day

Prerequisites

This training does not require any particular prerequisite.

Objectives

– Master the fundamentals of IFRS
– Understand their application within the company
– Know how to apply IFRS to the most frequent transactions
– Be able to identify the main differences between local GAAP and IFRS

Detailed content

> IFRS fundamentals

– Conceptual framework and substance over form
– Convergence in France and in other countries
– Projects under discussion and recent evolutions

> Assets

– Tangible assets (IAS 16 and related standards IAS 20, 23)
– Intangible assets and capitalized expenditures (IAS 38)
– Impairment test (IAS 36)
– Inventories (IAS 2)

> Leases: principles and impacts of the new IFRS 16 standard, (applicable since January 2019)

> Liabilities and provisions (IAS 37)

– Provision recognition: triggering conditions. Contingent liabilities. Other off-balance sheet.
– Events after the reporting period (IAS 10)

> Employee benefits (IAS 19)

– The projected unit credit method. Understanding and reporting actuarial gains and losses. Accounting for plan modifications.

> Accounting for share-based payments (IFRS 2), and specifically for stock options and free share plans

> Revenue recognition (IFRS 15)

– A three-question analysis: what is sold? when and at what price?
– Special cases: contract costs accounting, barter agreements, extended credit periods, licenses and contract modifications

> Non-current assets held for sale and discontinued operations (IFRS 5)

> First application of the standards (IFRS 1): review of the main impacts

> IFRS technical update: latest publications and on-going projects

Why should you attend?

Whether you are looking for a comprehensive first approach to IFRS or for a refresher to understand IFRS, this training will allow you to implement the standards and get the « right reflexes ».
You will acquire a broad overview of IFRS and will acquire the perspective that is necessary for a professional IFRS implementation.
This training is the first part of a comprehensive 5-day session (please refer to « IFRS in practice – Part 2 »).

Special offer for bundling the two trainings programmes

Training methods and assessment

Presentation alternating theory, current illustrations and numerous business cases. Field experience shared by the trainer.
Assessment questionnaire.
A training certificate is delivered at the end of the session.

The trainer is available by e-mail and telephone to answer any follow-up questions participants may have.

Price

2 550 € EXCL. VAT – 3 060 € INCL. VAT

Médias

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Témoignages

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Jonathan C.
Entreprise
Formation