The IFRS Refresher sessions cover the more prevalent accounting standards under the IFRS framework including latest developments in 2021 and beyond. As IFRS are constantly changing, these sessions serve as a comprehensive but concise refresher. It starts by giving an overview of IAS 1 Presentation of Financial Statements, and then delves into the accounting standards relating to non-current assets, and how other standards interact with the measurement of these assets. The second session covers Income Taxes, Provisions, Fair Value Measurement, Business Combinations, and the standards which form part of the consolidation suite.

The following are the standards which are dealt within this IFRS Refresher course:

Session 1:

• IAS 1 Presentation of Financial Statements
• IAS 16 Property, Plant and Equipment
• IAS 38 Intangible Assets
• IAS 40 Investment Property
• IAS 36 Impairment of Assets
• IAS 20 Accounting for Government Grants
• IAS 23 Borrowing Costs

Session 2:

• IAS 12 Income Taxes
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets
• IFRS 13 Fair value Measurement
• IFRS 3 Business Combinations
• IFRS 10 Consolidated Financial Statements
• IAS 27 Separate Financial Statements
• IAS 28 Investments in Associates and Joint Ventures
• IFRS 11 Joint Arrangements

Target Audience:

The session is aimed for accounting professionals and financial controllers.

Learning Outcomes:

In the world of today where accounting standards are continuously revised and revamped, the aim of this IFRS Refresher is to provide a high-level overview of the more commonly applied IFRS/IAS standards in the financial statements with the objective to increase your confidence in dealing with these areas.

Prerequisites:

Basic knowledge on deferred tax is recommended.

Trainer:

Georges Xuereb, Senior Manager, Accounting Advisory Services, KPMG in Malta

Georges provides IFRS and GAPSME advice and delivers accounting topic papers to his clients on complex technical accounting matters. He also assists clients in the preparation of separate and consolidated financial statements in accordance with IFRS or GAPSME, including groups operating in sectors such as manufacturing, logistics, gaming, international business, construction, and financial services. His area of focus in these diverse industries includes IFRS consolidations and implementation of recently issued IFRSs such as IFRS 16 Leases, IFRS 15 Revenue from Contracts with Customers, and IFRS 9 Financial Instruments for non-financial institutions. Georges also implements Excel-based consolidation tools to large groups to improve their consolidation reporting process, with a focus on quality and complex accounting requirements and reducing reporting timeframes. He has also developed an IFRS 16 Leases tool to assist clients in transitioning to the new leases standard, with focus on automation and timely reporting. Georges delivers technical training and presentations on IFRS matters both internally to his colleagues and to his clients, and delivers lectures on the Financial Reporting and Strategic Business Reporting modules to students as part of their studies in fulfilment of the ACCA qualification.

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