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Fundamental of International Accounting Standards

Fundamental Of International Accounting Standards (1)

Location Erbil

Fee $250

Course Date

Sunday, 19 January 2025

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Course Overview

This course provides a comprehensive introduction to International Financial Reporting Standards (IFRS), equipping participants with the knowledge and skills to navigate global financial reporting requirements. Through interactive sessions, students will learn to interpret and apply key IFRS principles, compare IFRS with other frameworks like GAAP, and prepare and analyze basic financial statements that comply with international standards. The course is ideal for finance professionals and those in related fields who seek a foundational understanding of IFRS and its application in diverse business contexts.

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Course Objectives

The course is designed to give a foundational understanding of International Financial Reporting Standards (IFRS) and their application in global business contexts. Students will learn to interpret and apply key IFRS principles, understand the differences between IFRS and other accounting frameworks (such as GAAP), and develop the skills to analyze and prepare basic financial statements in compliance with international standards.

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Learning Outcomes

  • Explain the Purpose and Scope of IFRS

  • Differentiate Between IFRS and Other Accounting Frameworks

  • Apply Key IFRS Principles

  • Prepare and Interpret Basic Financial Statements

Course Outlines

  • Conceptual Frameworks of financial reporting

  • IAS 1 Presentation of Financial Statements

  • IFRS 1 First time adoption on international financial reporting standards

  • IAS 16 Property, Plant and equipment

  • IAS 38 Intangible assets

  • IAS 40 Investment properties

  • IAS 20 Governmental grants

  • IAS 37 Contengincies and provisions

  • IAS 2 Inventory

  • IFRS 15 Revenue from contract with customers

  • IFRS 16 Lease contracts

  • IAS 21 Transaction in Foreign Currency

  • IAS 10 Event after reporting period

  • IAS 8 Changes in accounting policy, estimate and error correction

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By the end of the course, participants will be able to:

  • Understand the Purpose and Scope of IFRS: Explain the objectives of IFRS and its role in standardizing financial reporting globally.

  • Differentiate Between IFRS and Other Accounting Frameworks: Identify the key differences between IFRS and frameworks like GAAP and understand the impact of these differences on financial reporting.

  • Apply Key IFRS Principles: Use essential IFRS principles to guide financial reporting decisions and ensure compliance with international standards.

  • Prepare and Interpret Basic Financial Statements: Construct and analyze financial statements that reflect IFRS compliance, covering assets, liabilities, income, and expenses.

  • Navigate Specific IFRS Standards: Gain familiarity with standards including IAS 1 (Financial Statements Presentation), IAS 16 (Property, Plant, and Equipment), IFRS 15 (Revenue Recognition), and others, applying them to real-world scenarios.

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Course Schedule and Details

  • Duration: 7 days

  • Time: 17:30 - 20:30

  • Language: English/Arabic

  • Format: Classroom-based

  • Refreshments: included

  • Location: Erbil, mselect office

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Payment

Must be made 7 working days before the start of the course. Payment can be made in cash, by bank transfer or through exchange offices.

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How do I register?

You can register by emailing training@mselect.com with the following details:

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  • Full Name:

  • City/Town:

  • Email Address:

  • Phone number:

  • Name of the course:

​register now