Diploma in International Financial Reporting Standards (IFRS) is a specialized program designed to provide participants with a comprehensive understanding of the principles and application of IFRS, which are the globally recognized accounting standards used by companies to prepare financial statements.
- The course begins with an introduction to the history, development, and objectives of IFRS. Participants learn about the structure of the International Accounting Standards Board (IASB) and its role in setting global accounting standards.
- Participants delve into the fundamental principles underlying IFRS, including concepts such as accrual accounting, fair value measurement, substance over form, and prudence.
- The course covers the conceptual framework of IFRS, which provides the foundation for the preparation and presentation of financial statements. Topics include the qualitative characteristics of financial information, elements of financial statements, and the recognition and measurement criteria.
- Participants study the key IFRS standards applicable to various financial reporting areas, including revenue recognition (IFRS 15), leases (IFRS 16), financial instruments (IFRS 9), and others. They learn how to apply these standards to prepare financial statements in compliance with IFRS requirements.
- The course provides practical guidance on the preparation of financial statements in accordance with IFRS. Participants learn about the structure and content of financial statements, including the statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows.
