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Cert. IFR

Description

Course Overview: ACCA Certificate in International Financial Reporting (CertIFR)

The ACCA CertIFR is a globally recognized short course designed to equip finance professionals with a solid understanding of International Financial Reporting Standards (IFRS). This program offers a practical and comprehensive introduction to IFRS, enabling participants to confidently apply key reporting principles in their roles.

What You’ll Learn:

  • Fundamental principles and structure of IFRS

  • Key standards such as IFRS 15 (Revenue), IFRS 16 (Leases), IFRS 9 (Financial Instruments), and more

  • Preparation and presentation of financial statements under IFRS

  • How to transition from local GAAP to IFRS

Sorry! No classroom available for this course.

Course Curriculum

ACCA Certificate in International Financial Reporting (CertIFR)

Module 1: Introduction to IFRS

  • History and development of IFRS

  • The role of the International Accounting Standards Board (IASB)

  • Benefits and challenges of adopting IFRS

  • The conceptual framework for financial reporting

Module 2: Presentation of Financial Statements (IAS 1)

  • Components of financial statements

  • Fair presentation and compliance with IFRS

  • Accounting policies, estimates, and errors

  • Structure and content of financial statements

Module 3: Revenue Recognition (IFRS 15)

  • The five-step revenue recognition model

  • Contract identification and performance obligations

  • Transaction price determination

  • Revenue recognition over time vs at a point in time

Module 4: Financial Instruments (IFRS 9 & IFRS 7)

  • Classification and measurement of financial assets and liabilities

  • Impairment model and expected credit losses

  • Hedge accounting

  • Disclosures related to financial instruments

Module 5: Leases (IFRS 16)

  • Identifying a lease

  • Accounting for leases by lessees and lessors

  • Initial and subsequent measurement

  • Presentation and disclosure requirements

Module 6: Property, Plant, and Equipment (IAS 16) & Intangible Assets (IAS 38)

  • Initial recognition and measurement

  • Depreciation and impairment

  • Revaluation model and cost model

  • Recognition of internally generated intangible assets

Module 7: Provisions, Contingent Liabilities and Assets (IAS 37)

  • Definition and recognition criteria

  • Measurement of provisions

  • Contingent liabilities and contingent assets

  • Disclosure requirements

Module 8: Income Taxes (IAS 12)

  • Current and deferred tax

  • Recognition of tax liabilities and assets

  • Temporary differences and tax bases

  • Tax disclosure requirements

Module 9: Consolidated Financial Statements (IFRS 10, IFRS 3, IAS 28)

  • Control and consolidation procedures

  • Non-controlling interests

  • Business combinations and goodwill

  • Equity method of accounting

Module 10: First-Time Adoption of IFRS (IFRS 1)

  • Transition to IFRS from local GAAP

  • Exemptions and exceptions on first-time adoption

  • Reconciliations and disclosures

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