Course Content

Ø  The Conceptual Framework of IFRS

o   The need for International Accounting Standards 

• Introduction to FM Statements
• Introduction to Accounting Standards 

o   International Accounting Standards Board (IASB) Framework 

• Role of IASB 
• Status of IASB 
• Contents of the Framework 
• Objectives of the FM Statements 
• Underlying Assumptions of the FM Statements 
• Accrual Basis 
• Going Concern 
• Elements of  the financial statements (definition and rules for recognition)
• Qualitative Characteristics of the Financial Statements 
• Understandability 
• Relevance (including materiality)
• Reliability 
• Comparability 
• Recognition of the elements of financial statements 
• Measurement of the financial statements 
• Historical cost
• Net Realizable Value 
• Current Cost 
• Present Value
• The Fundamental Concepts of Relevance and faithful representation (true and fair view)
• Description of SME Sized Entities 

 

Ø  Inventories-IAS 02 

o   Definition of Inventories 

o   Valuation of Inventories 

o   interchangeable Items 

• FIFO Costing 
• Weighted Average Costing

Ø  Construction Contracts-IAS 11 

o   Definitions of Construction Contracts 

o   Accounting Treatment of Construction Contracts 

o   Disclosures in financial statements related to construction contracts 

o   Financial Statement Extracts for construction contracts 

Ø  Investment Property-IAS 40 

o   Definition of Investment Property 

o   Rules of the recognition of Investment Property 

o   Measurement 

o   Disposal of Investment Property 

Ø  Property, Plant and Equipment (PPE)-IAS 16 

o   Definitions and Initial measurement of PPE 

o   Subsequent expenditure on PPE 

o   Revaluation of PPE 

o   Depreciation Policy and Methods 

o   Disposal of PPE 

Ø  Intangible Assets-IAS 38 

o   Nature and accounting treatment 

o   Criteria for Initial recognition and measurement 

o   Subsequent accounting treatment 

o   Research and Development Expenditure 

o   Disposal of Intangible Assets 

Ø  Provision and Contingencies-IAS 37 

o   Introduction to Provision 

o   Legal and Constructive Obligations 

o   Recognition and Measurement of Provisions 

o   Introduction to contingent assets and liabilities 

Ø  Revenues-IAS 18 

o   Definition of Revenues as per IAS 18 

o   Rules for the recognition of investment Property 

o   Measurement 

o   Disposal of Investment Property 

Ø  Government Grants-IAS 20 

o   Definitions and Initial Measurement 

o   Recognition Criteria 

o   Non-Monetary Grants 

o   Disclosures in the financial statements 

Ø  Borrowing Costs-IAS 23 

o   Definitions and qualifying assets 

o   Recognition criteria and capitalization method 

o   Disclosures in the financial statements 

Ø  Introduction to Employee Benefits –IAS 19

Ø  Accounting for current tax –IAS 12 

Ø  Foreign Currency Transactions and accounting IAS -21 

o   Currency Concepts 

o   Reporting Foreign Currency Transactions 

o   Initial recognition 

o   Subsequent measurement 

o   Treatment of exchange difference 

 

Ø  Events after the reporting period-IAS 10 

o   Definitions 

o   Treatment of adjusting and non-adjusting events 

o   Disclosures in the financial statements 

 

Duration:

 

5 Days

 

Venue:

Juba, South Sudan

 

Investment:

590 USD

 

Investment Covers:

• Training
• Training Materials
• Certificate
• Lunch and refreshment
• Trainer’s fee
• Training Venue

CConfirmed Date:

August 01,2016

 

Contacts:

WhatsApp/Viber: +93 77 18 48 147

 

 

Skype: rokyanmc