Course objectives
Our refresher courses are designed for participants who have some prior knowledge of IFRS but need a course to bring them fully back up to speed with the current requirements. The course will cover the most important recent developments but will also revisit some of the more fundamental requirements; very little prior knowledge will be assumed, just in case.
Typical content
- Presentation and disclosure requirements
- The required primary statements and the options and exemptions available
- Key additional disclosures over and above those usually required by UKGAAP
- Current issues around clear and concise disclosures and comments from regulatory bodies such as the Financial Reporting Council
- Reporting profits, losses and cash flows
- Revenue recognition -the latest requirements
- Expense recognition and classification including some more contentious points such as R&D related expenses and asset impairment provisions
- How to prepare an IFRS cash flow properly – some common failings
- How to report other comprehensive income
- Statement of financial position
- Asset valuations including latest requirements for financial instruments
- Lease accounting under IFRS – how the new rules will work in practice
Typical practical work and case studies
- Opening quiz – test your IFRS knowledge
- Case study examples of more recent changes such as revenue recognition, lease accounting and bad and doubtful debt provisioning
- Case study – illustrative IFRS financial statements to analyse for examples of good and bad practice
Duration and guideline fee
6 hour course – £1,700
Recommended maximum group size – 30
Potts Financial Training 