Program Objectives:
By the end of the program, participants will be able to:
- Get abreast of the latest accounting standards that are applicable for this year.
- Explain the major expected changes in the accounting standards from current practice.
- Interpret the pronouncements, exposure drafts and standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
- Identify major differences and similarities between the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS).
This program is designed for:
Accounting and finance staff including controllers, managers, seniors, General Ledger accountants, financial analysts, who wish to keep updated with the new accounting standards and possible changes to existing practices. This program is worth 5 NASBA CPEs.
Locations & Dates:
31 - 31 May 2012 Dubai, English
06 - 06 Dec 2012 Dubai, English
Meirc reserves the right to alter dates, content, venue and trainer with a reasonable notice time.
One extra free place for every 2 paid nominees
Delivery Type: Group-Live
Pre-requisites: None
Related Programs:
Program Outline
The Current Agenda of the IASB and FASB - The Current Projects and Standards Under Consideration
- Summary of the Recently Issued Standards and their Effective Dates
- Next Steps on the Convergence of IFRS and GAAP
Presentation of Financial Statements - Standards Currently Effective
- Recent Developments and Pronouncements
- The Statement of Financial Position
- The Comprehensive Income
- The Statement of Changes in Owners' Equity
- The Statement of Cash Flows
Financial Instruments - Classification of Financial Instruments:
- Held-to-Maturity Debt Securities
- Trading Securities
- Available-for-Sale Securities
- Loans and Receivables
- Fair Value Through Profit and Loss Option
- Determining Fair Value
- Initial Measurement
- Accounting Methods:
- Amortized Cost Method
- Fair Value Method
- Accounting for Subsequent Transactions
- Reclassification and Transfer between Categories
- Offsetting of Assets and Liabilities
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Consolidation Project - Recent Developments Related to Consolidation Accounting, Joint Ventures and Investments in Associates
- Applying Consolidation Principles
- Applying the Equity Method
- Required Disclosures
Accounting for Leases - Latest Deliberations on Lease Accounting
- The New Definition of Leases
- The Effect of the Proposed Changes in Lease Accounting on Financial Statements
- Classification of Leases:
- Operating Lease
- Capital/Finance Lease
Accounting in Small and Medium Sized Entities (SME's) - IFRS for SMEs
- Definition of SME Entities
- Recent Developments
- FASB Project for Accounting in SMEs
Other Topics - Recent Deliberations on Revenue Recognition
- Long-Lived Assets and Intangible Assets
- Impairment Issues
- Liabilities and Owners' Equities
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Programs 
