IFRS, Juba, South Sudan

International Financial Reporting Standards (IFRS)
Course Content
 The Conceptual Framework of IFRS
o The need for International Accounting Standards
 Introduction to FM Statements
 Introduction to Accounting Standards
o International Accounting Standards Board (IASB) Framework
 Role of IASB
 Status of IASB
 Contents of the Framework
 Objectives of the FM Statements
 Underlying Assumptions of the FM Statements
• Accrual Basis
• Going Concern
 Elements of the financial statements (definition and rules for recognition)
 Qualitative Characteristics of the Financial Statements
• Understandability
• Relevance (including materiality)
• Reliability
• Comparability
 Recognition of the elements of financial statements
 Measurement of the financial statements
 Historical cost
 Net Realizable Value
 Current Cost
 Present Value
 The Fundamental Concepts of Relevance and faithful representation (true and fair view)
 Description of SME Sized Entities

 Inventories-IAS 02
o Definition of Inventories
o Valuation of Inventories
o interchangeable Items
 FIFO Costing
 Weighted Average Costing
 Construction Contracts-IAS 11
o Definitions of Construction Contracts
o Accounting Treatment of Construction Contracts
o Disclosures in financial statements related to construction contracts
o Financial Statement Extracts for construction contracts
 Investment Property-IAS 40
o Definition of Investment Property
o Rules of the recognition of Investment Property
o Measurement
o Disposal of Investment Property
 Property, Plant and Equipment (PPE)-IAS 16
o Definitions and Initial measurement of PPE
o Subsequent expenditure on PPE
o Revaluation of PPE
o Depreciation Policy and Methods
o Disposal of PPE
 Intangible Assets-IAS 38
o Nature and accounting treatment
o Criteria for Initial recognition and measurement
o Subsequent accounting treatment
o Research and Development Expenditure
o Disposal of Intangible Assets
 Provision and Contingencies-IAS 37
o Introduction to Provision
o Legal and Constructive Obligations
o Recognition and Measurement of Provisions
o Introduction to contingent assets and liabilities
 Revenues-IAS 18
o Definition of Revenues as per IAS 18
o Rules for the recognition of investment Property
o Measurement
o Disposal of Investment Property
 Government Grants-IAS 20
o Definitions and Initial Measurement
o Recognition Criteria
o Non-Monetary Grants
o Disclosures in the financial statements
 Borrowing Costs-IAS 23
o Definitions and qualifying assets
o Recognition criteria and capitalization method
o Disclosures in the financial statements
 Introduction to Employee Benefits –IAS 19
 Accounting for current tax –IAS 12
 Foreign Currency Transactions and accounting IAS -21
o Currency Concepts
o Reporting Foreign Currency Transactions
o Initial recognition
o Subsequent measurement
o Treatment of exchange difference

 Events after the reporting period-IAS 10
o Definitions
o Treatment of adjusting and non-adjusting events
o Disclosures in the financial statements


5 Days

Juba, South Sudan

590 USD

Investment Covers:
• Training
• Training Materials
• Certificate
• Lunch and refreshment
• Trainer’s fee
• Training Venue

Confirmed Date:
August 01,2016

[email protected]
[email protected]

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