Modern economies depend on cross-border transactions and the constant flow of international capital. Over three-quarters of all financial transactions take place across borders, and the number is expected to rise. It is common for investors to look for global investment opportunities and diversification. Also, multinational businesses raise capital, conduct transactions, and have international affiliates in many countries.

Cross-border transactions used to be complicated due to the fact that different countries had different accounting standards. This issue is addressed by the International Financial Reporting Standards (IFRS), which provide high-quality, internationally recognized accounting standards. IFRS brings transparency, accountability, and efficiency to financial markets around the world.

Let’s learn how IFRS is defined before we dig deep into the International Financial Reporting Standards Training Course.

What are International Financial Reporting Standards (IFRS)?

International Financial Reporting Standards are a set of requirements for preparing and presenting financial statements that are globally accepted. This system promotes consistency in accounting practice across reporting agencies all over the world, ensuring that financial records are comprehensible to everyone. Over the years, it has evolved into a global accounting standard.

It is widely accepted because it aids the free flow of capital. For example, a United States investor would be more comfortable investing in any United Arab Emirates company after analyzing financial records prepared according to this accounting standard. As a result, accounting risks associated with such investments are eliminated when investors follow IFRS.

IFRS Course Objectives

More than 150 countries currently use IFRS for local reporting. As more countries adopt IFRS, the demand for finance professionals with IFRS certification is growing worldwide. Lynchpin’s IFRS Training Course empowers you by assisting in understanding how the key international financial reporting standards (IFRS) are interpreted and applied by providing practical and detailed knowledge. The major objectives of this training course are as follow:

• Assisting you in understanding international financial reporting standards (IFRS)
• Explaining how the IFRS/IASB works and is evolving.
• Regularly assessing IFRS fundamental requirements to benefit preparers, auditors, and users.
• Using questions, cases, and exercises to provide guidance on applying IFRS in practice.
• Describing the basics of IFRS qualification

Who should attend IFRS Course?

IFRS is rapidly gaining acceptance in various economically developed countries. Financial professionals from different countries are seeking certification in IFRS to stay on top of the field. Following are some of the eligible professionals who can gain benefit from the IFRS Training Course in Dubai:

• All accounting experts involved in financial statement preparation
• Assistant accountants, financial controllers, and finance managers
• Decision-makers who rely on up-to-date and precise financial data
• Finance directors, chief financial officers (CFOs), and strategic planners

Lynchpin’s IFRS Course Outline

IFRS is a newly introduced regulation, which is why its training course consists of an in-depth introduction to IFRS terminologies. In addition to that following topics are included in IFRS Training Course in Dubai:

Module 1 – Introduction to IFRS

• Relationship between the International Accounting Standards Board (IASB) and IFRS Foundation
• A current list of IAS (International Accounting Standards) and IFRS Standards (International Financial Reporting Standards).
• An Overview of the Financial Reporting Framework
• Global IFRS standards and practice

Module 2 – Incorporating IFRS into Asset Accounting

• Property, Plant & Equipment
• Intangible Assets
• Investment Property
• Rents and leases
• Information about government grants and assistance
• Impairment of Assets

Module 3 – Revenue Recognisement Accounting

• Amounts earned from customer contracts
• Contract Costs

Module 4 – Liabilities and Taxation Accounting

• Provisions
• Contingent Liabilities
• Lease Liabilities
• Lease Liabilities
• Income Taxes
• Benefits gained by employees

Module 5 – Financial Instruments

• Financial Assets, Financial Liabilities & Equity
• Recognition of Financial Instruments
• Fair Value Measurement
• Impairment of Financial Assets

Module 6 – Financial Statements Presentation

• Presentation of Financial Statements
• Statement of Cash Flows
• Interim Financial Reporting
• Accounting Policy Selection and Accounting Estimation

Module 7 – Group Financial Statements

• Business Combination
• Consolidated Financial Statements
• Separate Financial Statements
• Partnerships & Joint Ventures
• Exchange rate fluctuations and their effects

Module 8 – Other IFRS Standards

• Related Party Disclosures
• Earnings Per Share
• A process of exploring and evaluating mineral resources
• First-time adoption of IFRS
• IFRS for Small and medium enterprises

Learning Outcome of IFRS Training

Now we have learned about the course outline of the IFRS Training Course. So, let’s talk about what you will be able to achieve after completing this professional training course:

• Understand and explain the structure of the international accounting framework will be easier with the IFRS Course
• Learn to apply relevant financial reporting standards to key financial report elements
• Identify and comply with the company’s disclosure requirements in financial reports and notes
• Organize cohort financial statements (excluding cash flow statements) for affiliates, collaborators, and partnerships

Learn to Utilize IFRS Principles through Lynchpin’s Training Course in Dubai

Financial reports must follow four fundamental principles of IFRS (International Financial Reporting Standards): clarity, relevance, reliability, and comparability. These standards are implemented worldwide, so following those means, they will be understood by financial professionals in UAE, Asia, African countries like Nigeria and the USA. IFRS Training Course will help us to comprehend these principles. In addition, these principles can be used while writing financial reports as follows:

Clarity

Financial reports must be easy to read and understand to follow the principles of clarity. After getting IFRS Training, you can follow guidelines that provide considerable clarity in determining how the specific information will be presented in financial statements.

Relevance

You will be able to understand the principle of relevance after completing the IFRS Training Course. Moreover, this training will teach you to make information relevant to general accounting firms and companies.

Reliability

IFRS Training will assist in comprehending the reliability principle, which explains that all transactions, events, and business activities in financial reports are reliable.

Comparability

Compatibility is one attribute that improves the utility of financial reports. Lynchpin’s IFRS Course assists users in comparing a company’s financial performance and position over time.

Personal Benefits of IFRS Training Certification

IFRS Accounting Standards enhance transparency by improving international accuracy and consistency of financial statements. These standards also allow investors, as well as other shareholders, to make more educated economic decisions. There are several benefits for individuals who attend an IFRS (International Financial Reporting Standards) Certification Course:

• Learn how to standardize financial statements, which will ultimately boost financial statement accuracy and consistency in major financial markets.
• Identify losses early and expand management’s contracting with companies.
• Improve financial reporting transparency and coherence
• Learn the skills that will help you land jobs with some of the best companies
• You can increase your chances of getting a promotion or a better job
• Develop your IFRS expertise and begin a successful career in finance.

Organizational Benefits of IFRS Training Certification

There are numerous benefits that can be gained by organizations that register their finance professionals to attend an IFRS (International Financial Reporting Standards) Certification Course. Among these benefits are:

• A more accurate comparison of the financial statements can be achieved since you are able to see how the financial statements of the organizations compare
• A simple and high-quality reporting standard can be established
• The IFRS streamline accounting standards, allowing companies to manage their resources more efficiently
• A reduction in the cost of auditing and regulatory reporting
• Foreign markets can provide businesses with a greater source of capital at a lower rate since they create a sense of trust among investors.

Training Methodology

Lynchpin Training designs courses based on the professional backgrounds and experience of the training audience. A highly skilled trainer teaches the classroom. We use literature reviews, problem-solving activities, and group discussions to encourage participation.

The trainer gives each participant an opportunity to discuss their own experiences, issues, concerns, and best practices from their organizations. In addition to providing feedback to participants in a timely manner, the trainer coaches them as needed. Lynchpin Training follows the Do-Review-Learn-Apply procedure to facilitate its training courses.

Why Attend Lynchpin’s IFRS Training Course in Dubai?

Lynchpin has trained students from around the world for the past twelve years. IFRS Training Courses are popular because of a number of reasons. Lynchpin offers tourism services for foreigners in addition to its IFRS workshops. It is this feature that sets Lynchpin Training apart from its competitors. The tourism feature allows financial professionals from all over the world to come to Dubai and learn from our training.

A key focus of our Training Institute is practical learning. Our International Financial Reporting Standard (IFRS) Training bridges the gap between academic theories and professional careers. Expert finance professionals deliver training for Financial Reporting to ensure the best services are given to students.

We offer an IFRS Certification Course to help you master financial reporting by equipping you with the skills, techniques, and training you need. Lynchpin’s financial reporting training course will enable you to demonstrate current and up-to-date knowledge and abilities. Do you have anything to say? We are here to assist you. Don’t hesitate to contact us to find out how we can help you.