IFRS: International Financial Reporting Standards in Practice

This training course covers the key International Accounting Standards (IAS) and their practical application in financial reporting. Participants will learn the fundamental principles, concepts, and requirements of each standard, along with their implications for financial statements preparation. Through real-life case studies and interactive exercises, attendees will develop the skills to interpret and apply IAS in various accounting scenarios and ensure compliance with global accounting regulations.

Who Should Attend

This course is suitable for accounting professionals, financial analysts, auditors, finance managers, and other professionals responsible for financial reporting and compliance with international accounting standards.

Target Group: Mid to senior-level professionals in various industries who are responsible for financial reporting and ensuring compliance with International Accounting Standards (IAS).

Objectives

Understand the role and importance of International Accounting Standards (IAS) in financial reporting.

Gain comprehensive knowledge of the key IAS and their requirements.

Develop the ability to interpret and apply IAS in various accounting scenarios.

Prepare financial statements in accordance with IAS requirements.

Ensure compliance with global accounting regulations and best practices.

Stay informed about updates and developments in IAS.

Course Outline

Introduction to International Accounting Standards (IAS)

Overview of the International Accounting Standards Board (IASB)
The role and importance of IAS in financial reporting
The conceptual framework for financial reporting
The structure and hierarchy of IAS
Updates and developments in IAS

IAS 1 - Presentation of Financial Statements

Objective, scope, and definitions
Components of financial statements
Statement of financial position
Statement of comprehensive income
Notes to the financial statements

IAS 2 - Inventories

Scope and definitions
Measurement of inventories
Cost formulas and inventory valuation methods
Inventory write-downs and reversals
Disclosure requirements

IAS 16 - Property, Plant, and Equipment

Scope and definitions
Initial recognition and measurement
Subsequent measurement: Cost and revaluation models
Depreciation, impairment, and derecognition
Disclosure requirements

IAS 36 - Impairment of Assets

Scope and objective
Identifying indicators of impairment
Recoverable amount and impairment testing
Impairment loss recognition and reversals
Disclosure requirements

Other Key International Accounting Standards

IAS 7 - Statement of Cash Flows
IAS 12 - Income Taxes
IAS 32 & 39 - Financial Instruments: Presentation, Recognition, and Measurement
IAS 37 - Provisions, Contingent Liabilities, and Contingent Assets
IAS 38 - Intangible Assets

Competencies

Knowledge of International Accounting Standards (IAS).

Financial reporting and compliance with IAS requirements.

Interpretation and application of IAS in various accounting scenarios.

Financial statements preparation in accordance with IAS.

Compliance with global accounting regulations and best practices.

Awareness of updates and developments in IAS.

Dubai

Elite Academy can deliver its complete portfolio of professional training programs in Dubai. With a global business, aviation and services hub with excellent international accessibility, the destination suits both scheduled learning and tailored arrangements for organizations or individual professionals. As an Elite Academy training destination, Dubai provides access to our full portfolio rather than a city-specific set of specializations. The city is a global business, aviation and services hub with excellent international accessibility, creating a suitable environment for organizations developing their teams and for professionals attending independently. Upcoming scheduled courses are listed on this page, while any other Elite Academy program can also be requested for delivery in Dubai, subject to scheduling and delivery requirements. Explore the schedule or browse our training areas to find the right option.