International Financial Reporting Standards (IFRS)

Introduction

This GLOMACS IFRS training course, designed in line with SOCPA certification requirements, provides professionals with a comprehensive understanding of International Financial Reporting Standards (IFRS) and their practical applications across different industries. As the most widely adopted financial reporting framework worldwide, IFRS ensures transparency, consistency, and comparability in financial statements.

This training course offers an in-depth study of advanced IFRS topics, focusing on complex standards, practical implementation, and compliance strategies. Participants will gain insights into new and evolving IFRS regulations, along with updates from the International Accounting Standards Board (IASB).

Participants will develop expertise in:

• Understanding accounting standards and their impact on financial reporting
• Complying with disclosure and consolidation requirements for financial statements
• Structuring IFRS-compliant financial statements, including fundamental assumptions and disclosures
• Recognizing and measuring financial elements based on international accounting principles
• Applying IFRS standards for revenue recognition and financial reporting

Objectives

Upon completing this IFRS training course, participants will be able to:

• Understand current IFRS requirements and upcoming changes, including the SOCPA-IFRS convergence roadmap
• Apply IFRS principles to prepare compliant financial statements with proper disclosures
• Interpret recognition and measurement criteria under IFRS, as aligned with SOCPA standards
• Analyze fair value measurement principles and their impact on financial reporting
• Implement best practices for IFRS adoption and compliance across industries

Training Methodology

The training course will be delivered interactively, covering all IFRS & SOCPA requirements in a clear and practical manner, with a comprehensive review of the objectives and rationale of the standards included. Active participation will be encouraged through a combination of direct instruction, case study analysis, examples, and exercises to illustrate the application of standards.