This seminar will set out the requirements of IAS1, IAS24, and IAS37 and enable you to
- Understand the standard in detail and its relevant practical implications
- Be updated on recent changes and developments and
- Apply the relevant requirements in practice.
More specifically the seminar will address the following topics:
IAS 1 – Presentation of Financial Statements:
- Objectives of IFRSs governing the presentation of financial statements
- Describe the structure and content of statements of financial position and statements of profit or loss and other comprehensive income Discuss ‘fair presentation’ and the accounting concepts/principles
IAS 37 – Provisions, Contingent Liabilities and Contingent Assets:
- Define provisions, legal and constructive obligations, past events and the transfer of economic benefits
- State when provisions may and may not be made, and how they should be accounted for
- Explain how provisions should be measured
- Define contingent assets and liabilities – give examples and describe their accounting treatment
- Identify and account for: 1. Onerous contracts 2. Environmental and similar provisions
- Discuss the validity of making provisions for future repairs or renewals.
IAS 24 – Related Party Disclosures
- Define and apply the definition of related parties
- Explain the disclosure requirements for related party transactions.
All professionals seeking to obtain in depth understanding of the accounting standards whether working in the profession or the industry
To register for this seminar, please click here.
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