IFRS Update

Course objectives

This course is designed to provide a brief, practical summary of all key developments in reporting under IFRS (usually within the UK/EU). The course is designed for those who have been reporting under IFRS for some time and really just need to know what has changed, either in the Standards or in the interpretation of those Standards and in the expectations of financial regulators.

Typical content

• Summary of new IFRS and IFRIC that are compulsory for the first time
• Update on current key issues and matters identified by financial regulators where improvement in financial reporting is required
• The latest IASB workplan and what planned changes are due and when the attendees need to start to prepare for the change
• Review of most recent IFRS report prepared by attendees and identification of key issues for next year

Typical practical work and case studies

• Opening quiz to test existing knowledge of IFRS and identify some current key issues
• Case study illustrations of disclosures from listed companies and SMEs who prepare accounts under IFRS including examples and good and poor practice
• Case studies and examples on more subjective and contentious points – for example these would currently include:
  • Revenue recognition under IFRS 15 – how much to book to net income and the bookkeeping and disclosures required
  • Doubtful debt provision valuations under IFRS 9
  • How to identify a lease within the scope of IFRS 16

Duration and guideline fee

3 hour course which covers key issues and developments – £850

6 hour course which is designed to be more comprehensive and will provide more practical illustrations and examples – £1,700

Recommended maximum group size – 30 tends to work best, especially for the longer course