A deep dive into IFRS
Short description of content:
This 5 day ‘bootcamp’ on IFRS has a focus on the general standards, the conceptual framework and the new standards IFRS 9, 16, 17. The program offers a lot of examples and practical applications of IFRS.
The objective of this training course is to:
- Provide an overview of recent developments in IFRS;
- Place IFRS in its larger framework and broach the (not-) financial reporting;
- Combine practice and theoretical concepts.
Totale prijs *
Leden: € 2.300
* Heeft u recht op subsidies?
* Prijs: prestatie in het kader van permanente beroepsopleiding, vrijgesteld van BTW
Niet-leden: € 2.775
Partner BZB: € 2.300
Startdatum: 25/02/2019 - Einddatum: 05/04/2019
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The training course can be taken by various target groups which are active in the following functions, among others:
- Accountants of publicly listed companies;
- Functions in corporate finance working with valuations;
- Credit analysts.
- Expert: specifically explains a given subject in detail. In order to take a training course at this level you must have sufficient prior knowledge (expertise).
Additional prior knowledge required:
- Analysis of the annual report;
- Comprehension of P&L, BS and Cashflow Statement.
Day 1 : Introduction and key IFRS Standards
- IASB : IFRS - GAAP – organisation – the Standards – the Interpretations (IFRIC) - the EU endorsement process - Working groups - Focus and strategy - IFRS around the world – PIR’s – current work plan (research, standard setting, maintenance, other…) - …
- EFRAG: role, position, agenda, current work plan European Union: accounting directive, recent initiatives (e.g. the public consultation on the European Framework for Public Reporting by Companies, exploring “sustainable finance”…)
- Related bodies: valuation board, sustainability board, integrated reporting board
- Regulatory impact: ESMA and ESEF
- Link with wider Corporate Reporting: update on the current debate
- Overview – role – purpose – evolution - …
- Definitions - Primary users - Matching principle - Recognition - Measurement – Performance - Fair Value – Impairment - Other Comprehensive Income (OCI) – Materiality - Consolidated versus separate financial statements - …
PM Key IFRS standards
- IAS 1 Presentation of financial statements
- IAS 7 Statement of Cash Flows
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
- IFRS 13 Fair Value Measurement
Day 2: New (recent) Standards
AM/PM New (recent) Standards, and practical examples
- IFRS 9 : background, history, link with IFRS 4 (liabilities), main features…
- Including fees in the 10% test for derecognition (amendments to IFRS 9)
- IFRS 15 : background, history, main features…
- IFRS 16 : background, history, main features…
Day 3: New Standards and Research projects
AM New Standards, and practical examples
- IFRS 17: only state-of-affairs
- Amendments to IAS 1
- Amendments to IAS 7
- Accounting Policies (ED)
- Definition of material (Q4 2018)
- Principles of disclosure (research project)
- Targeted standards-level review (ED)
PM Research projects
- BCUCC (expected DP 2H 2019)
- Discount rates (Q4 2018)
- Dynamic risk management (1H2019)
- IFRS 3 Business Combinations – Goodwill and impairment (DP or ED)
- + Amendments to IFRS 3 Business Combinations (Definition of a Business)
- Share-based payment (project summary 09/2018)
- FICE : discussion paper
- Accounting for Pensions (recent paper Canadian standard setter)
- Accounting Policies and Accounting Estimates - Amendments to IAS 8 (Q4 2018)
- Accounting Policy Changes (Amendment to IAS 8)
- Improvements to IFRS 8 Operating Segments (Amendments to IFRS 8 and IAS 34)
- Management commentary (ED expected H1 2020)
- Rate regulation (DP or ED expected H2 2019)
Day 4 : Primary Financial Statements project and Financial Statement Analysis
AM Primary Financial Statements project
- ED or DP expected in 1H2019 !
- Against the background of what we have now : e.g. IAS 1, IAS 7, IFRS 1…
- What is missing? What is the problem? What could be the solution? Which direction is the project taking?...
- Together with this: the discussions about Alternative Performance Measures (APMs) (i.a. exploring a recent paper from the Canadian standard setter).
- Debate about “Better Communication” : what does that mean?
Financial Statements Analysis
- Analysis of the financial position
- Leverage ratio’s…
Day 5: Financial Statement Analysis
AM/PM Analysis of performance/profitability
- Operating margins
- Free cash flow
- Value creation
- Cost of capital…
- Cash flow statement
Duration: 5-day course
Time: 9 a.m. - 5 p.m. (6 hours of training per day)
Location: Febelfin Academy, Rue d’Arlon - Aarlenstraat 80, 1040 Brussels
Type of course:
- Theoretical training: During our theoretical training courses we offer a combination of theory and practical exercises. The cases, examples and exercises are taken from everyday situations or are contributed by you and then solved under the guidance of the trainer.
- Exercises on real life cases and studies of the different players on the market are addressed.
- PowerPoint presentation
Risk, finance & treasury
Compliance & audit