International Financial Reporting
Standards (IFRS) & Updates
16 - 20 March 2026
Sandton
Johannesburg South Africa
Cost per Delegate
R19,999.00
Introduction
Accounting Standards are constantly changing due to improvements, amendments and new issues, thus keeping up to date with IFRS is a daunting task for every accountant in practice. Our International Financial Reporting Standards (IFRS) training course will help build the knowledge you need for success in the business world. We believe those who want to enrich their professional aspirations and skills will enjoy expanding career opportunities and goals.
The course is developed with input from subject matter experts from across the region. It is designed to provide accounting and finance professionals with training, knowledge, and practical guidance. This guidance is needed to use IFRS and stay up to date with its newest standards and changes.
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Course Objectives of International Financial Reporting Standards (IFRS) & Updates:
• Describe the setting process in IFRS and list the currently available standards
• Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization/sector.
• Determine the correct presentation and minimum disclosure for components of statements. These components can be financial position, statements of comprehensive income, owners' equity, and cash flows in accordance with IFRS.
• Appraise and properly account for transactions affecting current assets and liabilities, and non-current assets. In addition to liabilities, revenues, and expenses in accordance with IFRS.
• Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions.
Who Should Attend?
• Accounting and finance professionals
• Auditors and internal auditors
• CFOs and financial controllers
• Financial analysts
• Compliance officers
• Risk managers
• Consultants and advisors
• Professionals aspiring to enhance their knowledge of IFRS
Course Outlines
DAY ONE
Introduction to IFRS and presentation of financial statements
• Defining the term 'IFRS'
• IFRS standard-setting process
• Financial position presentation format as per IAS1, presentation of financial statements
• Components and defining of current and non-current assets and liabilities
• Offsetting assets and liabilities
• Income statement minimum presentation requirements as per IAS1, presentation of financial statements
• Presentation of revenues and expenses by nature or by function
• Components and ranking of stockholders’ equity
• Other comprehensive income: nature of its components
• Supplemental disclosures
DAY TWO
IFRS rules for current assets and liabilities
• Cash and cash equivalents (IFRS 9)
• Accounts receivable (IFRS 9):
• Estimating allowance for doubtful and bad debts
• Pledging, assigning, and factoring receivables
• Accounts payable and accruals (IFRS 9)
• Inventory (IAS 2):
• Ownership: when to include inventory in your books
• Measurement at initial recognition: what to include in 'cost'
• Inventory cost-flow assumptions
• Subsequent measurement: lower cost or net achievable value
DAY THREE
IFRS rules for non-current assets and liabilities
• Property, plant, and equipment (IAS 16):
• Initial recognition and subsequent measurement
• The cost model versus the revaluation model
• Assets held for sale (IFRS 5)
• Treatment of decommissioning costs (IAS 37)
• Impairment of property, plant, and equipment (IAS 36)
• Intangible assets (IAS 38)
• Cost Model vs. Revaluation Model
• Situations where some intangible assets are not recognized in financial positions
• Investment property (IAS 40)
• Distinguishing investment property from other assets
• Cost model versus the fair value model
• Provisions, contingent liabilities, and contingent assets (IAS 37)
DAY FOUR
Investment securities (IFRS 9)
• Type of investment securities
• Classification under IFRS 9: Fair Value Through Profit or Loss (FVTPL), Fair Value Through Other Comprehensive income (FVTOCI), amortized cost
• Initial recognition and subsequent measurement
• Transfer between categories
• Impairment of financial assets under the new standard
Revenue from contracts with customers (IFRS 15)
• Scope of IFRS 15
• Describing the five-step model framework under IFRS 15
• Step 1: Identifying the contract with the customer
• Step 2: Identifying the performance obligations in the contract
• Separating goods from services
• Step 3: Determining the transaction price
• Effect of the time value of money
• Accounting for variable consideration
• Step 4: Allocating the transaction price to the performance obligations in the contract
• Step 5: Recognizing revenue when the entity satisfies a performance obligation
• Separating performance obligation satisfied at a point in time from performance obligation satisfied over a period of time
DAY FIVE
IFRS 16, Leases
• Reasons for the transition from IAS 17 to IFRS 16
• Recognition exemptions: expensing lease payments
• How will the lease of small-value items be affected?
• Identifying a lease transaction
• Separating components of the lease contract
• Accounting by lessees
• Accounting by lessors
• Effective date and transition
IFRS 18: Presentation and Disclosure in Financial Statements
Wrap-up on newest standards and list of current and prior years' updates on IFRSs
• Standards amended in 2016 with effect in 2019
• Standards amended in 2017 with effect in 2019
• Standards amended in 2018 with effect in 2019
• Standards amended in 2019
• IFRS Accounting Standards with effective date* 1 January 2022
• IFRS Accounting Standards with effective date* 1 January 2023
End of the Workshop
For Training arrangements call us on the detail below
TANZANIA: +255 749 50 26 78
SOUTH AFRICA: +27 694 31 79 73
KENYA: +255 749 50 26 78
DUBAI: +27 694 31 79 73
