International Financial Reporting Standards (ifrs) For banks and financial institutions
COURSE OVERVIEW
DURATION
5 days
DATE
23 – 27 Jan, 08 – 12 May, 31July – 04 August, 30 Oct – 03 Nov 2023
FEE
£4500
LOCATION
The Business Xchange Hub, Marco Polo House
3-5 Lansdowne Road, Croydon, Surrey, CR0 2BX United Kingdom
Course overview
This course provides a comprehensive overview of the effects that the current and impending standards have on the financial statements of Banks and financial institutions. In addition, likely changes to IFRS based on the IASB’s technical agenda are reviewed.
Objectives
- To acquire theoretical knowledge about principles of preparation of international financial statements
- To become familiar with the IAS/IFRS applicable to the banking industry
- To consider specific cases of IAS/IFRS application by banks.
Who should attend
This course is ideal for individuals at all levels within an organization who need to have detailed knowledge of IFRSs. In essence, it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions and preparing, reviewing or approving IFRS financial statements.
The course is ideal for bank employees and specialists dealing directly and indirectly with preparation of bank financial statements according to international standards.
Training methodology
- Training is conducted in an interactive form and includes a number of case studies
This course can also be taken in
Accra: 16 – 20 Jan, 10 – 14 April, 24 – 28 July, 23 – 27 Oct 2023
Dubai: 23 – 27 Jan, 27 Mar – 31March, 19 – 23 June, 29 Aug – 02 Sept 2023
Texas: On Request
Course Content
The Strategic Management PlanFinancial reporting in credit institutions
- Financial statements purposes
- History, objectives, structure of IASB
- Basic principles of financial reporting
IAS 1 “Presentation of financial statements”
- Goal and application of standard
- Components of financial reporting
- Accuracy of reporting and its’
- accordance with IFRS
IAS16 “Fixed Assets”
- Definition
- Definition criteria
- Recognition and initial measurement
- Subsequent measurement
- Depreciation
- Disposal
- Disclosures
IAS 38 “Intangible assets”
- Key terms and definitions
- Recognition and initial measurement
- Future measurement and re-measurement
- Amortization
- Disclosures
IAS 17 “Lease”
- Operating and finance lease definitions
- Principles of lease accounting for PPE
IAS 36 “Impairment of assets”
- Introduction and key terms
- Impairment test
- Impairment indicators
- Recognition of impairment loss
- Recoverable value calculation
- Reversing an impairment loss
- Disclosures
Taxes IAS 12 “Income”
- Introduction
- Concept of deferred taxes
- Accounting for deferred taxes: main rules
- Presentation and disclosure of deferred taxes
IAS 24 “Related party disclosures”
- Object and field of application of standard
- Key terms
- Criteria of Related Parties’ recognition
- Requirement for disclosure of information on associated parties
IAS 37 “Provisions, contingent liabilities and contingent assets”
- Provisions – definition, recognition and measurement
- Evaluation
- Contingent assets and liabilities – definition and recognition
- Disclosure
IAS 32 and 39 “Financial instruments”
- Definition of financial instruments
- Financial assets & liabilities
- Classification of financial instruments
- Measurement of financial instruments:
- Initial recognition
- At the time of financial statements preparation
- Derivatives: basis of recognition
- Hybrid (combined) financial instruments
- Accounting for financial assets write-down
- Cancellation of financial instruments recognition
IFRS 7 “Financial instruments:
- Accounting policy
- Statement of financial position
- Other comprehensive income statement
- Disclosure
IFRS 9 “Financial instruments”
- Classification and measurement of financial instruments.
Book this course
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