IFRS in a Nutshell

Overview

Course duration: 1 day.

This one-day overview for non-financial managers and individuals will provide an introduction to IFRS, highlighting the key differences between IFRS and UKGAAP and allowing you to identify where you need further specialist accounting assistance.

Is it right for me?

Suitable for those working in companies moving to IFRS wishing to understand the key changes. Also suitable for those tasked with analysing accounts (credit controllers, M&A advisors, providers of finance etc.) who will need to review accounts in the new IFRS formats.

What will I learn?

By the end of this course you will be able to:

• Understand the IFRS regulatory environment
• Understand the format and contents of IFRS financial statements 
• Understand the rules of IFRS 

What will it cover?

The Regulatory Environment

• The background to international harmonisation
• The rules for UK companies

Structure of Financial Statements Under IFRS

• The statement of financial position (balance sheet)
• The statement of comprehensive income (profit and loss account)
• The statement of cash flows and statement of changes in equity
• Notes to the financial statements

The Rules of IFRS

• Recognition of assets and liabilities
• Measurement of assets and liabilities
• Disclosure requirements

Further Issues in Moving to Report Under IFRS

• Practical issues in the switch to IFRS
• Educating the users of the financial statements

Personal Development

• Formulating an action plan

Further courses to consider

Advanced Finance for Senior Managers and Directors