Format: Live instructor-led online training via Zoom / Microsoft Teams

International Financial Reporting Standards (IFRS) Course

Course Overview

The International Financial Reporting Standards (IFRS) Course is a comprehensive professional development programme designed to equip finance professionals, accountants, auditors, financial managers, and business executives with practical knowledge and advanced skills in the preparation, presentation, interpretation, and analysis of financial statements in accordance with International Financial Reporting Standards (IFRS). The course provides participants with an in-depth understanding of the IFRS framework, accounting principles, financial reporting requirements, and disclosure standards issued by the International Accounting Standards Board (IASB). Participants will develop practical competencies in applying IFRS to improve financial transparency, regulatory compliance, corporate governance, and strategic financial decision-making.

As organizations increasingly operate across international markets, compliance with IFRS has become essential for enhancing financial reporting consistency, investor confidence, and organizational credibility. This course introduces participants to internationally recognized best practices in financial reporting, financial statement preparation, IFRS compliance, consolidated financial statements, revenue recognition, lease accounting, financial instruments, fair value measurement, asset impairment, business combinations, financial disclosures, and corporate financial governance. Participants will gain practical experience in interpreting IFRS requirements, resolving accounting issues, and preparing financial reports that meet global accounting standards and regulatory expectations.

The programme combines accounting theory with practical application through case studies, financial statement analysis, accounting simulations, IFRS implementation workshops, group discussions, and real-world reporting scenarios. Participants will strengthen their competencies in applying IFRS standards to complex accounting transactions, preparing financial reports, analyzing financial performance, ensuring compliance with statutory requirements, and improving financial reporting quality. The course also explores recent IFRS updates, implementation challenges, ethical financial reporting, and the integration of IFRS with organizational financial management systems.

Upon successful completion of the course, participants will possess the expertise required to prepare and interpret IFRS-compliant financial statements, strengthen financial reporting systems, improve audit readiness, enhance corporate governance, and support informed business decisions. The acquired knowledge and practical skills will enable organizations to improve financial transparency, strengthen stakeholder confidence, ensure regulatory compliance, and achieve sustainable financial management through internationally accepted accounting and reporting practices.

Course Objectives

1. Understand the conceptual framework and principles of International Financial Reporting Standards (IFRS).
2. Apply IFRS requirements in preparing and presenting financial statements.
3. Strengthen competencies in accounting for assets, liabilities, equity, income, and expenses.
4. Develop practical skills in revenue recognition and lease accounting under IFRS.
5. Apply IFRS requirements for financial instruments, impairment, and fair value measurement.
6. Prepare consolidated financial statements and account for business combinations.
7. Interpret IFRS disclosure requirements and reporting obligations.
8. Improve financial statement analysis and interpretation for decision-making.
9. Strengthen compliance with international accounting standards and regulatory requirements.
10. Enhance corporate governance, financial transparency, and ethical financial reporting.

Organizational Benefits

1. Improved compliance with International Financial Reporting Standards (IFRS).
2. Enhanced quality, consistency, and transparency of financial reporting.
3. Increased investor, lender, and stakeholder confidence.
4. Improved financial decision-making through accurate reporting.
5. Strengthened corporate governance and financial accountability.
6. Reduced financial reporting errors and compliance risks.
7. Improved audit readiness and regulatory compliance.
8. Enhanced financial performance analysis and strategic planning.
9. Increased organizational credibility in international financial markets.
10. Strengthened capacity for managing complex accounting transactions and financial disclosures.

Target Participants

This course is suitable for Accountants, Financial Managers, Chief Financial Officers (CFOs), Finance Directors, Internal Auditors, External Auditors, Financial Controllers, Budget Officers, Tax Professionals, Investment Analysts, Risk Managers, Treasury Officers, Procurement and Finance Officers, Government Finance Officers, NGO Finance Managers, Project Accountants, Compliance Officers, Corporate Executives, Business Consultants, University Lecturers, Researchers, and professionals responsible for financial reporting, accounting, auditing, corporate finance, and regulatory compliance.

Course Outline

Module 1: Introduction to IFRS and Financial Reporting Framework

• Overview of International Financial Reporting Standards (IFRS)
• IASB conceptual framework for financial reporting
• Objectives and qualitative characteristics of financial information
• Components of financial statements
• Regulatory environment and IFRS adoption
• General Case Study: Transitioning an organization from local GAAP to IFRS

Module 2: Presentation of Financial Statements (IAS 1)

• Structure and presentation of financial statements
• Statement of financial position
• Statement of profit or loss and other comprehensive income
• Statement of changes in equity
• Statement of cash flows and notes to the financial statements
• General Case Study: Preparing complete IFRS-compliant financial statements

Module 3: Revenue Recognition (IFRS 15)

• Five-step revenue recognition model
• Identifying performance obligations
• Measuring transaction prices
• Revenue recognition for contracts with customers
• Disclosure requirements
• General Case Study: Accounting for long-term construction contracts under IFRS 15

Module 4: Property, Plant, Equipment and Intangible Assets

• Accounting for Property, Plant and Equipment (IAS 16)
• Depreciation methods and asset revaluation
• Intangible assets (IAS 38)
• Borrowing costs (IAS 23)
• Asset disposal and derecognition
• General Case Study: Accounting for manufacturing assets and depreciation

Module 5: Inventory, Impairment, and Provisions

• Inventory accounting (IAS 2)
• Net realizable value and inventory valuation
• Asset impairment (IAS 36)
• Provisions, contingent liabilities, and contingent assets (IAS 37)
• Recognition and measurement principles
• General Case Study: Evaluating inventory impairment in a retail organization

Module 6: Financial Instruments and Fair Value Measurement

• Classification and measurement of financial instruments (IFRS 9)
• Expected credit loss model
• Hedge accounting principles
• Fair value measurement (IFRS 13)
• Financial risk disclosures
• General Case Study: Measuring and reporting financial assets under IFRS 9

Module 7: Lease Accounting (IFRS 16)

• Identifying lease contracts
• Lessee accounting requirements
• Lessor accounting principles
• Right-of-use assets and lease liabilities
• Financial statement disclosures
• General Case Study: Accounting for office building leases under IFRS 16

Module 8: Business Combinations and Consolidated Financial Statements

• Business combinations (IFRS 3)
• Goodwill recognition and measurement
• Consolidated financial statements (IFRS 10)
• Investments in associates and joint ventures
• Non-controlling interests
• General Case Study: Preparing consolidated financial statements for a corporate group

Module 9: Income Taxes and Employee Benefits

• Accounting for income taxes (IAS 12)
• Deferred tax assets and liabilities
• Employee benefits (IAS 19)
• Pension accounting
• Short-term and long-term employee obligations
• General Case Study: Accounting for employee retirement benefit obligations

Module 10: Financial Statement Analysis and IFRS Disclosures

• Financial ratio analysis
• Cash flow analysis
• IFRS disclosure requirements
• Segment reporting (IFRS 8)
• Related party disclosures (IAS 24)
• General Case Study: Analysing IFRS financial statements for investment decisions

Module 11: IFRS Implementation and Compliance

• IFRS implementation strategies
• Internal controls for financial reporting
• Audit readiness and compliance
• Ethical financial reporting practices
• Managing IFRS transition challenges
• General Case Study: Implementing IFRS across a multinational organization

Module 12: Emerging Trends and Advanced IFRS Applications

• Recent IFRS updates and amendments
• Sustainability reporting and integrated reporting
• Digital transformation in financial reporting
• ESG reporting and financial disclosures
• Future developments in international accounting standards
• General Case Study: Preparing an integrated annual report incorporating IFRS and sustainability reporting

General Information

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, flight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two participants and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center (FDC-K) account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.