- Understand and explain the international regulatory framework for financial reporting
- Prepare financial statements in accordance with specified IAS, IFRS and (IFRIC) pronouncements
- Prepare group financial statements including subsidiaries, associates and joint ventures
- Clearly understand how international financial reporting rules differ from local generally accepted accounting principles (GAAP) as well as how they are similar
- Anticipate and prepare for change in people, processes and technology related to financial reporting.
The growing global adoption of International Financial Reporting Standards (IFRS) as a basis for the preparation of financial statements of large and medium sized entities creates a need for finance management professionals to understand IFRS. A detailed grasp of IFRS is now essential for many preparers, auditors and users of financial statements. It is also vital background knowledge for all other accountants and financial managers.
By the end of the training, participants should be able to: