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