IFRS Update

Introduction

The course aims to:

  • Provide an update on recent developments in IFRSs
  • Give practical guidance on and resolve difficult issues companies may face in preparing/analysing financial statements under IFRS

We will focus on some of the more recent pronouncements including IFRS IC (Interpretations Committee) agenda decisions.  We will also discuss issues that have arisen on implementing recently issued standards IFRS 16 Leases and IFRS 9 Financial Instruments as well as some accounting implications of the Covid-19 pandemic.

Who Should Attend?

  • This training course is addressed to those responsible for preparing and analysing financial statements under IFRS
  • It is intended for people who already have knowledge of international standards and need to update this knowledge, especially due to new or amended standards introduced in the last two years

Session Outline

IFRS and IC updates

The IASB continuously amends Standards and Interpretations and some of these modifications are smaller in scope, referred to as agenda decisions by the IFRS Interpretations Committee. We will look into the latest and most important of these modifications. Below is a selection of the topics we will cover.

  • The Exposure Draft (ED) on General Presentation and Disclosure on the proposed revised format of financial statements under IFRS
  • The proposed revision to the treatment of goodwill and the annual impairment test
  • Covid-19 rent concessions as they apply to modification of leases under IFRS 16 Leases
  • Other issues that are discussed by the IASB and IFRs Interpretation Committee
  • The role of agenda decisions in applying IFRS
  • The new definition of a business under IFRS 3 and how this impacts the preparation of consolidated accounts
  • Interest Rate Benchmark Reform – the impact of the phasing out of LIBOR on IFRS 9

The Impact of the Pandemic on financial reporting under IFRS

  • A discussion of some of the issues that have arisen resulting from the COVID-19 pandemic

Other sessions from the same series

IFRS 16 Leases: Lessons from implementation | 9 November 2021 | 9:00

IFRS 9 Financial Instruments: Classification, measurement and impairment - a practical guide | 30 November 2021 | 9:00

Registration fee*

Regular fee: €69

Discounted price for EY Alumni: €59

All three sessions: €160

*Eligible for CPE Circuit credits. Group discounts apply.

CPE Accreditation

This workshop is eligible for 4 hours CORE CPE credits. 

Speaker

Brian Connolly | BComm, ACA, ACMA, AITI

A seasoned EY trainer, he has been putting his diverse international business experience in good use by helping organizations achieve their targets by empowering their people through energetic, value adding training programs.

He has developed and conducted professional training seminars with emphasis on IFRS, US GAAP, accounting and finance to corporate audiences in many countries including Poland, Hungary, Russia, Romania, UK, Kuwait, Bahrain, Saudi Arabia, UAE, Oman, Turkey.

Webcast

IFRS Update

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