INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
“Achieving Compliance and Transparency in Financial Statements Using Global Reporting Standards”
Course Schedule
| Date | Venue | Fees (Face-to-Face / Online) |
|---|---|---|
| 08 – 10 Jan 2025 | Kuala Lumpur, Malaysia | USD 2495 per delegate |
| 11 – 13 Feb 2025 | Doha, Qatar | USD 2495 per delegate |
| 04 – 06 Mar 2025 | Dubai, UAE / Online | USD 2495 / USD 1000 per delegate |
| 06 – 08 Oct 2025 | Doha, Qatar | USD 2495 per delegate |
Course Introduction
International Financial Reporting Standards (IFRS) are globally recognized and required by companies in over 140 jurisdictions. Ensuring compliance with IFRS enhances transparency, comparability, and investor confidence in financial reporting.
This intensive 3-day training provides participants with the latest IFRS updates, a structured understanding of key accounting standards, and their real-world application. A dedicated version of this program is available for the Petroleum Industry, covering sector-specific considerations such as asset retirement obligations, exploration and evaluation, and revenue recognition under IFRS 15.
Course Objectives
By the end of this course, participants will be able to:
- Interpret and apply key IFRS standards including IFRS 9, 15, 16, and IAS 1, 2, 12, 16, 36, 37.
- Understand the structure, framework, and conceptual underpinnings of IFRS.
- Analyze the financial impact of adopting or updating IFRS standards.
- Prepare and review financial statements in compliance with IFRS.
- Address industry-specific IFRS applications in oil, gas, and extractives (Petroleum version only).
- Comply with disclosure requirements and avoid common reporting errors.
Key Benefits of Attending
- Stay updated on the latest IFRS changes and future developments.
- Improve accuracy, consistency, and compliance in financial reporting.
- Understand differences between IFRS and local GAAP where applicable.
- Gain practical exposure through exercises, disclosures, and case studies.
- For petroleum professionals: learn how to manage IFRS complexities unique to the sector
Intended Audience
This program is designed for:
- Financial controllers and accountants
- Auditors and compliance professionals
- Corporate finance teams
- Finance managers in energy and petroleum sectors (for industry-specific course)
- Professionals involved in preparing or reviewing IFRS-based reports
Individual Benefits
Key competencies that will be developed include:
- IFRS application and reporting accuracy
- Recognition and measurement under IFRS
- Financial statement preparation and analysis
- Industry-specific financial treatments (e.g., petroleum)
- Improved interpretation of notes and disclosures
Organization Benefits
Upon completing the training course, participants will demonstrate:
- More consistent and compliant IFRS reporting
- Enhanced audit readiness and stakeholder trust
- Reduced financial misstatements and disclosure errors
- Increased IFRS capability within accounting and finance teams
- Sector-aligned IFRS reporting in the petroleum and energy industries
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Standards Overview – Walkthroughs of current IFRS frameworks
- Templates – Statement layouts, disclosure checklists, and measurement tools
- Case Studies – Real-world reporting challenges across sectors
- Workshops – Statement adjustments, transition effects, and impact evaluations
- Industry Application (Petroleum Version) – Oil & gas-specific treatment simulations
- Q&A – IFRS practitioner insights and live discussion sessions
Course Outline
Detailed 3-Day Course Outline
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: IFRS Framework and Core Standards
Module 1: Introduction to IFRS and Framework (07:30 – 09:30)
- IASB structure and IFRS roadmap
- Conceptual framework for financial reporting
- Transition and convergence issues
Module 2: Presentation and Disclosure (IAS 1, IFRS 7) (09:45 – 11:15)
- Statement formats and classification
- Disclosure requirements and judgment areas
- Materiality and comparability
Module 3: Revenue Recognition – IFRS 15 (11:30 – 01:00)
- 5-step revenue recognition model
- Contract modifications, performance obligations
- Customer contracts in practice
Module 4: Workshop – IFRS Compliance Review (02:00 – 03:30)
- Apply IFRS 15 and IAS 1 using real data
Day 2: Measurement, Assets & Liabilities
Module 5: Property, Plant & Equipment (IAS 16) and Impairment (IAS 36) (07:30 – 09:30)
- Initial recognition and subsequent measurement
- Depreciation methods, revaluation model
- Impairment indicators and cash-generating units
Module 6: Lease Accounting – IFRS 16 (09:45 – 11:15)
- Right-of-use asset and lease liability
- Lease classification and exceptions
- Transition strategies and disclosures
Module 7: Financial Instruments – IFRS 9 (11:30 – 01:00)
- Classification and measurement
- Expected credit losses (ECL)
- Hedging and reclassification
Module 8: Simulation – Statement Adjustments (02:00 – 03:30)
- Apply fair value, impairment, and lease reclassifications
Day 3: Tax, Provisions, Sector Focus, and Review
Module 9: Taxation (IAS 12) and Provisions (IAS 37) (07:30 – 09:30)
- Deferred tax and recognition criteria
- Provisions vs. contingencies
- Environmental liabilities and restructuring
Module 10: Sector-Specific Applications (Petroleum Industry Only) (09:45 – 11:15)
- Exploration and evaluation assets (IFRS 6)
- Decommissioning and AROs
- Revenue timing in production sharing contracts
Module 11: Final Case Study and Reporting Exercise (11:30 – 01:00)
- Team-based review of sample financial statements
- Identifying errors, omissions, and improvement areas
Module 12: Wrap-Up and Certification Briefing (02:00 – 03:30)
- Summary review, discussion, and post-course action planning
Certification
Participants who complete the program will receive a Certificate of Completion in International Financial Reporting Standards (IFRS), or IFRS for the Petroleum Industry, depending on the version attended, recognizing their ability to prepare and analyze IFRS-compliant financial statements.