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International Financial Reporting Standards – IFRS Updates 2018

Duration: 2 Days | 8:30 am – 5 pm
Sunday – Tuesday

16th – 17th September 2018 Karachi Pakistan.
18th – 19th September 2018 Lahore Pakistan.

Course Overview:

This is a full update seminar over two days on new developments of IFRS.

The International Accounting Standards Board (IASB) has finished with its programme of major developments in International Financial Reporting Standards (IFRS). The future work plan of the IASB in the medium term will only focus on improvements of the current standards. It is for this reason that this seminar is a must as it is an important foundation for the future.

Over the last five years the IASB has issued various new standards on Financial Instruments, Revenue, Leases and Insurance. The IASB also issued a Framework for Fair Value and guidance on Integrated Reporting also saw the light. The current Conceptional Framework that was issued in 1989 was also replaced in 2018. IFRS for Small and Medium Enterprises were also updated in 2013.

All these new developments and changes to other financial reporting standards will be addressed in this seminar. The seminar also deals with consolidations, joint arrangements and associates which were updated shortly before the major updates above.

Learning outcomes from this course:

• Gain insights on the new conceptional framework of financial reporting;
 Understand the new developments in the reporting standards on Fair value (IFRS 13), Revenue (IFRS 15) , Financial Instruments (IFRS 9 and related standards), Leases (IFRS 16), Insurance (IFRS 17) and all new interpretations, including IFRIC 19 and IFRIC 21;
· Apply the new developments above in practical scenarios;
· Note the changes on reporting standards that are revised such as IAS 1, IAS 16, IAS 19, IAS 41 etc.
· Present financial and non-financial information in the Integrated Reports of companies;
· Implementation of group related standards in the consolidated financial statements, including associates and joint arrangements;
· Understand the new changes to IFRS for SMEs and the differences with full IFRS standards;
· Focus on measurement and recognition requirements on all new and updated reporting standards; and
· Get updated on the new work plan of the IASB

Who Should Attend?

• Finance (Directors, Managers, Controllers)
• Financial Accountants
• Revenue officers
• Internal & External Auditors
• Company secretaries
• Compliance (Directors, Managers)
• Risk (Directors, Managers)
• Support Services (Directors)
• Chartered Accountants