This day is about:
This two-day course provides a review of the key standards that are required to be implemented through the IFReM. Trainers will provide practical tips for managing the conversion to IFRS and examples of the accounting treatment for key transactions and balances such as leases, PFI and fixed assets.
Delegates will also have the opportunity to apply their knowledge and understanding of the accounting requirements through a detailed and practical case study to prepare a set of shadow accounts.
| Course Programme |
| DAY ONE |
| 09.00 |
Registration and Tea/Coffee |
| 09.30 |
Introduction and Scene Setting
- HM Treasury Timetable
- Quiz
|
| 10.30 |
The First Set of IFRS Financial Statements
- IFRS 1 - First Time Adoption of IFRS
- IAS 1 - Presentation of Financial Statements
|
| 11.00 |
Tea/Coffee |
| 11.15 |
The First Set of IFRS Financial Statements (Cont’d)
- IAS 7 - Cash Flow Statements
- IAS 8 - Accounting Policies
|
| 11.45 |
Non Current Assets
- IAS 16 - Property, Plant and Equipment
- IFRS 5 - Non Current Assets Held for Sale
- IAS 36 - Impairment of Assets
- IAS 38 - Intangible Assets
|
| 13.00 |
Lunch
|
| 14.00 |
Group Work – Case study Round 1
Illustrative Accounts from UK GAAP to IFRS |
| 15.00 |
Tea/Coffee |
| 15.15 |
Leases
- IAS 17 - Leases
- IFRIC 4 - Determining whether an Arrangement contains a Lease
- SIC 15 - Operating Leases - Incentives
|
| 16.00 |
Accounting for PPP/PFI Schemes under IFRS
- Withdrawal of HMT Technical Note 1
- On or off Balance Sheet debate
|
| 16.45 |
Review of Day 1 – Q&A |
| 17.00 |
Close of Day 1 |
| Course Programme |
| DAY TWO |
| 09.00 |
Tea/Coffee on arrival |
| 09.30 |
Review of Day 1 - Quiz
|
| 10.15 |
Financial Instruments
- IAS 32 - Presentation
- IAS 39 - Recognition and Measurement
- IFRS 7 - Disclosures
|
| 11.00 |
Tea/Coffee |
| 11.15 |
Group Work - Case Study Round 2
|
| 12.15 |
IFRS 8 - Operating Segments
|
| 13.00 |
Lunch
|
| 14.00 |
Other Relevant Standards
- IAS 2 - Inventories
- IAS 19 - Employee Benefits
- IAS 21 - The Effects of Changes in Foreign Exchange Rates
- IAS 24 - Related Party Disclosures
- IAS 40 - Investment Property
- IAS 41 - Agriculture
|
| 14.30 |
Group Work – Case Study Round 3 |
| 15.00 |
Tea/Coffee |
| 15.15 |
Practical Issues around Managing the Conversion – Top Tips
|
| 15.45 |
Course Conclusion – Questions and Answers |
| 17.00 |
Course Close |
|
