Description
Day 1: IFRS 9 Financial Instruments (Part 1)
- Module 1: Overview of IFRS 9
- Introduction to IFRS 9: Financial Instruments.
- Key components of IFRS 9: Classification, Measurement, Impairment, and Hedge Accounting.
- Differences between IFRS 9 and IAS 39 (Financial Instruments: Recognition and Measurement).
- Understanding the business model and contractual cash flow characteristics tests.
- Module 2: Application of IFRS 9 in Financial Reporting (Part 1)
- Measurement categories: Amortized cost, Fair value through profit or loss (FVTPL), and Fair value through other comprehensive income (FVOCI).
- Detailed analysis of the classification criteria.
- Excel Functions: VLOOKUP, HLOOKUP, CHOOSE, MATCH.
Day 2: IFRS 9 Financial Instruments (Part 2) and Practical Application
- Module 2: Application of IFRS 9 in Financial Reporting (Part 2)
- Impairment model: Expected Credit Losses (ECL).
- Hedge accounting: Types and implications.
- Practical considerations for implementing IFRS 9.
- Hands-on Excel Session:
- Advanced Excel techniques for financial instrument modeling under IFRS 9.
- Creating ECL models in Excel.
- Excel Functions: PV, FV, IPMT, PPMT, XNPV, XIRR.
Day 3: IFRS 16 Leases (Part 1)
- Module 3: Introduction to IFRS 16
- Key principles of IFRS 16: Lease accounting.
- Differences between IFRS 16 and IAS 17 (Leases).
- Lessee and lessor accounting models.
- Identifying lease contracts and defining the lease term.
- Module 4: Practical Application of IFRS 16 (Part 1)
- Recognition and measurement of leases.
- Calculating the lease liability at commencement.
- Determining the discount rate.
- Excel Functions: PMT, RATE, NPER.
Day 4: IFRS 16 Leases (Part 2) and Practical Application
- Module 4: Practical Application of IFRS 16 (Part 2)
- Calculating right-of-use assets.
- Practical challenges in implementing IFRS 16.
- Case studies: Real-life examples of IFRS 16 implementation.
- Hands-on Excel Session:
- Lease accounting templates in Excel for calculating lease liabilities and right-of-use assets.
- Building lease amortization schedules.
- Excel Functions: OFFSET, INDEX, INDIRECT, Data Tables.
Day 5: IFRS 13 Fair Value Measurement (Part 1)
- Module 5: Overview of IFRS 13
- Introduction to IFRS 13: Fair Value Measurement.
- Definition and framework of fair value measurement.
- Hierarchy of fair value: Levels 1, 2, and 3 inputs.
- Understanding the principal market.
- Module 6: Applying IFRS 13 in Financial Reporting (Part 1)
- Valuation techniques: Market approach, Cost approach, and Income approach.
- Detailed review of level 2 and level 3 valuations.
- Excel Functions: TREND, FORECAST, GROWTH.
Day 6: IFRS 13 Fair Value Measurement (Part 2) and Practical Application
- Module 6: Applying IFRS 13 in Financial Reporting (Part 2)
- Disclosures required under IFRS 13.
- Practical challenges in fair value measurement.
- Sensitivity analysis in fair value measurements.
- Hands-on Excel Session:
- Using Excel for fair value calculations and sensitivity analysis under IFRS 13.
- Creating valuation models using various techniques.
- Excel Functions: Scenario Manager, Goal Seek, Solver.
Day 7: Integrated Application of IFRS Standards
- Module 7: Integrated Application of IFRS Standards
- Comprehensive review: Linking IFRS 9, IFRS 16, and IFRS 13.
- Integrated case studies: Preparation of financial statements using multiple IFRS standards.
- Common challenges in implementing multiple IFRS standards.
- Hands on Project: Integrated IFRS application case study.
Day 8: IFRS 18 (Part 1)
- Module 8: Overview of Recent IFRS Updates & IFRS 18 (Part 1)
- Introduction to IFRS updates: Purpose and significance.
- Overview of key changes in recent IFRS standards: IFRS 18.
- Introduction to IFRS 18: Primary Financial Statements.
- Key changes in IFRS 18: Categorization, Management Performance Measures (MPMs), and Aggregation.
- Detailed analysis of the new structure of the statement of profit or loss.
- Understanding the requirements for MPM disclosures.
- Excel Functions: Basic arithmetic operations, cell referencing, SUM, AVERAGE.
Day 9: IFRS 18 (Part 2) and Practical Application
- Module 8: IFRS 18 (Part 2)
- Understanding the new categories of income and expenditure.
- Practical implications of IFRS 18 on financial reporting.
- Case studies: Impact analysis of IFRS 18 on sample financial statements.
- Analyzing the bridge between IFRS defined subtotals and management defined subtotals.
- Hands-on Excel Session:
- Using Excel for financial statement preparation under IFRS 18.
- Creating templates for MPM disclosures.
- Excel Functions: IF, SUMIF, SUBTOTAL, Named Ranges, Data Validation.
Day 10: Advanced Excel for Financial Reporting & Final Project
- Module 9: Advanced Excel for Financial Reporting
- Advanced Excel functions for financial modeling and analysis.
- Creating dynamic financial reports and dashboards.
- Automating financial calculations using Excel macros (introduction).
- Power Query and Power Pivot introduction.
- Final hands-on project:
- Developing a full financial report under updated IFRS standards using Advanced Excel.
- Presentation of final projects and feedback.
- Excel Functions: Macros (Recording and editing), Power Query, Power Pivot, Advanced Charting.
Description
Understand Key IFRS Updates:
- To provide participants with a comprehensive understanding of the latest updates to IFRS standards, particularly IFRS 18, IFRS 9, IFRS 16, and IFRS 13, and how these changes impact financial reporting.
Enhance Financial Reporting Skills:
- To equip participants with the knowledge to apply the revised IFRS standards in the preparation and presentation of financial statements, ensuring compliance and improved financial disclosure.
Develop Practical Application Techniques:
- To enable participants to apply the principles of IFRS 18, IFRS 9, IFRS 16, and IFRS 13 in practical scenarios through case studies, examples, and hands-on exercises, enhancing their real-world application.
Master Advanced Excel for Financial Reporting:
- To improve participants' proficiency in using Advanced Excel for financial modeling, analysis, and reporting, particularly in the context of applying IFRS standards.
Integrate Multiple IFRS Standards:
- To teach participants how to integrate multiple IFRS standards (IFRS 18, IFRS 9, IFRS 16, and IFRS 13) into cohesive financial statements, addressing common challenges and ensuring comprehensive compliance.
Improve Decision-Making Skills:
- To help participants use financial data more effectively in decision-making processes by understanding the implications of the updated IFRS standards on financial performance and position.
Prepare for Future Financial Reporting Requirements:
- To prepare participants for upcoming financial reporting requirements by understanding the future applicability of IFRS updates and ensuring they are equipped to handle these changes proactively.
General Notes
GENERAL NOTES
i. The clients have many options on where they would wish to have the training
ii. The client should communicate their preferred training venue at least seven days before the training date failure to which the training shall take place in Nairobi.
iii. This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
iii. Training manuals and additional reference materials are provided to the participants.
iv. Upon successful completion of this course, participants will be issued with a Chania finance consultancy certificate.
v. The onsite training fee covers tuition fees, training materials, tea at 10am, lunch, tea at 4pm, training venue and a certificate on completion. Accommodation and travel may be arranged for our participants upon request.
vi. The online training fee covers tuition fees, training materials, and a certificate on completion.
Available at the following Venues
- Nairobi
- Google Meet
Choose the date you would like to take the course
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