Certificate in International Financial Reporting Standards |Meirc

Course Methodology

The course uses interactive techniques, such as brief presentations by the consultant, the application of different theories, and group exercises, to exchange experience and the knowledge acquired throughout the course.

Course Objectives

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

Identify the components of comprehensive income and other comprehensive income
Properly account for income taxes and determine current vs. deferent taxes
Classify the various type of investments according to IFRS 9
Determine the concepts of control and power and consolidate a set of financial statements
Define the term significant influence and apply the equity method
Apply the required steps in business combination and account for goodwill

Target Audience

Professionals in finance and accounting and those seeking to take their IFRS knowledge to a higher level.

Target Competencies

Calculating total comprehensive income
Presenting income tax transactions
Accounting for financial assets
Applying the equity method
Consolidating financial statements
Measuring goodwill

Overview of Fundamental Concepts in IFRS
- History of IFRS
- The complete set of financial statements
- Classification of assets and liabilities
- Components and classification of stockholders’ equity
- Total Comprehensive Income (TCI)
- Components of Other Comprehensive Income (OCI)
Income Taxes (IAS 12)
- Recognition and measurement of current tax
- Recognition and measurement of deferred tax
- Recognition in profit and loss
- Deferred tax asset or liability
- Presentation and disclosure
Financial Instruments
- Classification of financial assets under IFRS 9
- Business model and cash flow test
- Amortized cost
- Fair Value through Profit and Loss (FVTPL)
- Fair value through Other Comprehensive Income (OCI)
- Impairment of financial assets
- Presentation of financial instruments under IAS 32
- Disclosure requirements under IFRS 7
Consolidation of Financial Statements (IFRS 10)
- Definition of power and control
- Identification of subsidiary
- Consolidation procedures
  - Intercompany transactions
  - Non-Controlling Interests (NCI)
  - Loss of control
Accounting for Joint Arrangements and Associates (IAS 28)
- Types of joint arrangements
  - Joint operations versus joint venture
- Accounting for joint operations (IFRS 11)
- Accounting for joint ventures and associates according to the equity method
- Identification of associates and the concept of significant influence
- Impairment of investments accounted for under the equity method
Business Combinations (IFRS 3)
- Determining fair value
- Steps in the accounting process for business combinations
- The acquisition method
- Goodwill and gain from a bargain purchase
- Two options to measure non-controlling interests
- Impairment of goodwill

National Association of State Boards of Accountancy (NASBA)

Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Field of Study : Accounting

Prerequisites : None

Advanced Preparation : None

Delivery Method : Group Live

Number of CPE credits : 25

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Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for full attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

List of Certified Courses

2024 Schedule & Fees

Fees

Per participant

USD 5750

Fees + VAT as applicable

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Location & Date

5 - 9 May, 2024

Dubai

English

Paramount Hotel Midtown

17 - 21 Nov, 2024

Dubai

Arabic

Paramount Hotel Midtown

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Tax Registration Number: 100239834300003

This course is also offered in Virtual Learning, click on the course below.

Certificate in International Financial Reporting Standards (IFRS) - Virtual Learning