IFRS - Current Requirements & Future Developments
This course is designed for financial professionals who need to understand and use IFRS in their professional work. The course will allow attendees to prepare IFRS financial statements in compliance with the current requirements and be able to plan for future plans and developments. Attendees will also be aware of the more common problem areas and pitfalls in applying IFRS.
What You Will Learn
This course will cover the following:
- Update on impact of recently issued IFRS now effective
- Overview of current IFRS state of play - all current applicable IFRS and dates for planned updates and changes
- Business combinations - how the new tests of control and the exemptions for investment entities are working in practice
- Recent comment on failings and problem areas from Financial Reporting Council
- Completed projects not yet effective
- IFRS 9 - Financial Instruments - impact from early adopters from outside EU
- IFRS 15 - Revenue recognition
- What are the key changes to existing practice and why has compulsory adoption been deferred?
- IFRS 16 - leasing
- Summary of key changes to existing practice
- Implementation deadlines and transitional arrangements
- Scope of the changes - leasing and service arrangements and the link with IFRS 15
- Summary of key activities of IFRS Interpretations Committee
- IAS 12 Income taxes
- Recognition of deferred tax assets (trading losses)
- Reporting uncertain tax positions
- IAS 28 - equity method accounting
- Eliminating gains and losses on trading activities between investor, associates and joint venturers
- IAS 40 - investment property
- Transfers of investment property
- IAS 19 - Employee benefits
- Availability of refund (assets) from schemes; and
- Remeasurement of plan amendments such as curtailments and settlements
- Update on project plan and key future developments
- Lease accounting - IFRS 16 now published
- The end of operating lease accounting for lessees?
- Transition rules and action needed now
- Conceptual framework - update on joint project with USA ED and the latest position on the use of IFRS in the US
- What next after the removal of 'matching' as a core concept?
- Disclosure projects
- Changes to accounting policies and estimates, what details should be given
- Materiality in practice statements
Please let us know if you wish to be notified.
Please let us know if you wish to be notified when new dates are added for this programme