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.

Why you Should Attend

  • 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.

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