IFRS Refresher – 2021

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, Director, Corporate Accounting Advisory Services, KPMG in Malta

Georges provides a wide range of Accounting Advisory services, including group consolidations and the preparation of consolidated financial statements under both GAPSME and IFRS, technical accounting advice on complex matters, development of Excel-based models (such as leasing, ECL impairment and consolidation tools), and outsourced corporate accounting and compliance services, such as preparation of management accounts and financial statements. His portfolio of clients is very diverse, including groups and companies operating in sectors such as manufacturing, logistics, aviation, cruise line business, gaming, diversified multinationals, construction, and financial services. Georges also lectures on the Financial Reporting (FR) and Strategic Business Reporting (SBR) ACCA modules to students as part of their studies in fulfilment of the ACCA qualification.