International Accounting Standards (IAS) Course

Introduction

The International Accounting Standards (IAS) Course is designed to provide participants with a comprehensive understanding of the framework, principles, and application of IAS and International Financial Reporting Standards (IFRS). This course enables professionals to confidently prepare, interpret, and analyze financial statements that align with international accounting requirements.

The course begins with an overview of the IAS/IFRS framework, exploring its objectives, structure, and the standard-setting process led by the International Accounting Standards Board (IASB). Participants will gain insight into key accounting principles such as accrual accounting, fair value measurement, revenue recognition, financial instruments, and lease accounting. The course also examines how IAS ensures the reliability and comparability of financial statements across different jurisdictions.

With a strong emphasis on practical application, the course uses real-world case studies and financial reporting examples to demonstrate the implementation of IAS in various industries. Participants will learn to apply specific standards, interpret financial disclosures, and assess the impact of IAS on decision-making, investment, and regulatory compliance. Complex topics such as consolidation, impairment of assets, and deferred taxes are addressed in a clear, structured manner.

By the end of the course, participants will be equipped with the knowledge and skills needed to operate confidently in international financial environments. This course is ideal for accountants, auditors, financial analysts, finance officers, regulators, and anyone involved in the preparation or review of financial statements in accordance with international standards.

Who should Attend?

This course is ideal for:

·       Accountants and Finance Officers responsible for preparing or reviewing financial statements in line with IAS/IFRS.

·       Auditors and Internal Control Professionals who need to assess compliance with international accounting standards.

·       Financial Analysts and Investment Professionals who rely on accurate and standardized financial information for analysis and decision-making.

·       Chief Financial Officers (CFOs), Controllers, and Accounting Managers seeking to align their organization's reporting practices with global requirements.

·       Regulators and Compliance Officers who oversee corporate financial disclosures and reporting compliance.

·       Tax Consultants and Legal Advisors involved in international financial transactions and regulatory frameworks.

·       Professionals from Multinational Corporations and NGOs who operate in multiple jurisdictions and require standardized financial reporting practices.

Duration

5 days

Course Objectives

By the end of this course the learners should be able to:

• Understand the structure, objectives, and role of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) in promoting global financial reporting consistency.
• Apply key IAS/IFRS principles and standards in the preparation, presentation, and interpretation of financial statements.
• Analyze and interpret financial information in accordance with internationally accepted accounting frameworks to support sound financial decision-making.
• Identify differences between local accounting standards and IAS/IFRS, and understand their implications for multinational operations and reporting.
• Handle complex accounting areas, such as revenue recognition, leases, financial instruments, provisions, and impairment of assets using appropriate IAS standards.
• Assess the impact of IAS on organizational compliance, transparency, and stakeholder confidence, including its relevance for investors, regulators, and international partners.
• Enhance professional competence and ethical judgment in applying international standards in diverse financial reporting environments.
• Prepare for transitions or conversions from local GAAP to IFRS, ensuring smooth alignment with global reporting requirements.

Course Outline

Module 1: Introduction to Financial Reporting and IAS Framework

• Overview of financial reporting in credit institutions
• Purpose and users of financial statements
• Evolution, objectives, and structure of IAS and IFRS
• Conceptual framework for financial reporting
• Fundamental principles: accrual basis, going concern, consistency, and materiality

Module 2: Presentation and Structure of Financial Statements

• IAS 1: Presentation of Financial Statements
• Components and structure of financial statements
• Current vs. non-current classification
• Key disclosures and fair presentation
• IAS 7: Statement of Cash Flows
• Cash flow categories: operating, investing, and financing
• Direct vs. indirect methods
• IAS 34: Interim Financial Reporting
• Minimum content and measurement principles for interim reports

Module 3: Accounting Policies and Adjustments

• IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors
• Selection and application of accounting policies
• Handling prior period errors and estimate changes
• IAS 10: Events After the Reporting Period
• Adjusting vs. non-adjusting events
• Disclosure requirements and examples

Module 4: Revenue, Inventory, and Operational Assets

• IAS 2: Inventories
• Valuation methods: FIFO, weighted average
• Net realizable value and cost formulas
• IAS 16: Property, Plant and Equipment
• Recognition, depreciation, and revaluation
• IAS 23: Borrowing Costs
• Capitalization rules for qualifying assets
• IAS 40: Investment Property
• Cost vs. fair value model
• Transfers and measurement principles

Module 5: Intangible and Biological Assets

• IAS 38: Intangible Assets
• Recognition criteria and amortization
• Internally generated vs. acquired intangibles
• IAS 41: Agriculture
• Measurement of biological assets and agricultural produce

Module 6: Employee and Related Party Disclosures

• IAS 19: Employee Benefits
• Short-term, post-employment, and other long-term benefits
• Defined contribution vs. defined benefit plans
• IAS 24: Related Party Disclosures
• Identification of related parties
• Disclosure requirements for transactions and balances

Module 7: Foreign Currency Transactions and Hyperinflation

• IAS 21: The Effects of Changes in Foreign Exchange Rates
• Functional vs. presentation currency
• Translation of foreign operations
• IAS 29: Financial Reporting in Hyperinflationary Economies
• Restatement of financial statements
• Indicators of hyperinflation

Module 8: Group and Associate Accounting

• IAS 27: Separate Financial Statements
• IAS 28: Investments in Associates and Joint Ventures
• Equity method application and disclosures
• Introduction to IFRS 10 (for context on consolidated financial statements)

Module 9: Income, Provisions, and Impairments

• IAS 12: Income Taxes
• Current vs. deferred taxes
• Recognition and measurement of tax assets and liabilities
• IAS 36: Impairment of Assets
• Indicators, testing, and calculating recoverable amounts
• IAS 37: Provisions, Contingent Liabilities and Contingent Assets
• Recognition criteria and measurement

Module 10: Financial Instruments and Performance Measures

• IAS 32: Financial Instruments: Presentation
• Distinction between debt and equity instruments
• IAS 39: Financial Instruments: Recognition and Measurement (legacy standard, for context)
• Classification, recognition, and hedge accounting basics
• IAS 33: Earnings Per Share
• Basic and diluted EPS calculations
• Disclosure and interpretation

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: training@upskilldevelopment.com Tel: +254 721 331 808

Training Venue

The training will be held at our Upskill Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Upskill certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: training@upskilldevelopment.com, +254 721 331 808

Terms of Payment

Unless otherwise agreed between the two parties payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better.