Chrome Consultants

IFRS Adoption and Interpretation

Programme description & objectives

Many organizations around the world are beginning to see the need for the adoption of the International Financial Reporting Standards (IFRS), which provides a platform for the assessment of the financials of companies in any jurisdiction on a level and comparable basis. Peculiarities exist in different countries that may render comparison ineffectual and farcical. However, in this program, the pros and cons of adopting IFRS, especially for financial sector operators both in the Public and Private sectors, is adequately considered. Interpretation of IFRS-based statements is also a key platform, while the challenges facing companies in their bid to implement IFRS is discussed with suggestions as to how to overcome these peculiarities.

Venues, Dates & Cost

VenuesDublinLondonDubaiEdmonton (CAN)Lagos/Abuja
DatesTBDTBDTBDTBDTBD
Cost$4,000 per participant (USD)(=N=)

For Whom

  • Finance Managers & Accountants
  • Auditors
  • Controllers and Analysts in both Public and Private sectors
  • Bankers
  • Financial regulators

Core IFRS Framework

  • Fundamentals
    • Definitions of terms concepts, rules and examples
    • Framework for the preparation and presentation of financial statements
    • IFRS 1: First-time adoption of IFRS
    • IAS 1 Presentation of financial statements
    • IAS 7 Cash flow statements
    • IAS 8 Accounting policies, changes in accounting estimates and errors

Group Statements & Business Combinations

  • Group and consolidation
    • Group statements
    • IFRS 3 Business combinations
    • IAS 27 Consolidated and separate financial statements
    • IAS 28 Investments in associates
    • IAS 31 Interests in joint ventures
    • Balance sheet and income statement

Specific Standards I

  • Equity, contracts, and inventories
    • IFRS 2 Share-based payment
    • IFRS 4 Insurance contracts
    • IAS 2 Inventories
    • IAS 11 Construction contracts
    • IAS 12 Income taxes
    • IAS 16 Property, Plant, and Equipment
    • IAS 17 Leases
    • IAS 18 Revenue
    • IAS 19 Employee benefits
    • IAS 20 Accounting for government grants and disclosure of government assistance
    • IAS 21 The effects of changes in foreign exchange rates
    • IAS 23 Borrowing costs

Specific Standards II

  • Assets, provisions and instruments
    • IAS 36 Impairment of assets
    • IAS 37 Provisions, contingent liabilities, and contingent assets
    • IAS 38 Intangible assets
    • IAS 39 Financial Instruments: Recognition and Measurement
    • IAS 40 Investment property
    • IAS 41 Agriculture
    • Disclosure requirements

Additional IFRS and IAS

  • Other standards and disclosures
    • IFRS 5 Noncurrent assets held for sale and discontinued operations
    • IAS 10 Events after the balance sheet date
    • IAS 14 Segment Reporting
    • IAS 24 Related-party disclosures
    • IAS 26 Accounting and reporting by retirement benefit plans
    • IAS 29 Financial reporting in hyperinflationary economies
    • IAS 32 Financial instruments: Presentations
    • IAS 33 Earnings per share
    • IAS 34 Interim financial reporting
    • IFRS 6 Exploration for and evaluation of mineral resources
    • IFRS 7 Financial Instruments: Disclosures