"Latest International Financial Reporting Standards (IFRS) Updates" - This course is approved by NASBA (National Association of State Boards of Accountancy). Seminar attendees are eligible for 16.8 CPE credits upon completion of this workshop.

Course Description:

This training course will give you an understanding of the recent issues and accounting standards which are part of International Financial Reporting Standards (IFRS) reporting. As companies enter into arrangements with their global counterparts, an understanding of IFRS has become increasingly important.

This two day training explains the accounting processes in current IFRS; It reviews several areas of topics from New Revenue Recognition Rules, Insurance Contracts, Agriculture, Financial Statements Impact, Financial instruments, Deferral of development costs, Fixed asset componentization, Accounting for groups, First time adoption of IFRS, Recent pronouncements form Interpretation Committee, Application of IFRS and possible future changes of IFRS

Practical examples, Question and Answers, and case study to discuss issues you may be having in your application of IFRS standards.

By the end of this course you will:

  • Clearly understand the reasons for the move across most of the world to IFRS and the countries that have adopted IFRS in the recent past and those that will adopt in the future
  • Have a good working knowledge of the IFRS standards, and challenges of IFRS standards
  • Clarity of the review Interpretation Committee pronouncements and issues surrounding such
  • How these standards are applied in practice so you can apply them to your own business
  • IFRS principles treatment of the following business areas are discussed: Analyze financial statements treatments prepared in accordance with IFRS of foreign competitors, customers, subsidiaries, potential joint venture and alliance partners
  • Understanding of the current proposals are new standards and these will impact the businesses
  • Identify completed and proposed convergence between the IASB and FASB

Seminar Fee Includes:

AM-PM Tea/Coffee
Seminar Material
USB with seminar presentation
Hard copy of presentation
Attendance Certificate
$100 Gift Cert for next seminar

Learning Objectives:

  • IFRS: Refresher and Important Developments, The Conceptual Framework International Financial Reporting Standards (IFRS)
  • Clearly understand the reasons for the move across most of the world to IFRS and the countries that have adopted IFRS in the recent past and those that will adopt in the future
  • IASB to develop Standards that bring transparency, accountability and efficiency to financial markets around the world.
  • It also helps companies to develop their accounting policies and assists understanding and interpretation of accounting Standards.
  • Six Things You Need to Know About IFRS
  • Differences highlighted include but are not limited to
    • Financial Statement Impact
    • Financial instruments, Deferral of development costs
    • Fixed asset componentization- Accounting for groups- First time adoption of IFRS

Areas Covered:

  • Understand the scope and transitional issues of IFRS adoption
  • Financial Statement Impact, Pensions, Share Based Payments
  • Taxation, Accounting for Groups, Leases, Intangible Assets
  • First Time Adoption of IFRS, Technical Updates
  • Consolidations & Equity Method Investments plus More Topics

Who will Benefit:

  • All professionals who want to expand their knowledge in IFRS.
  • Financial reporting staff of large organizations and entities
  • Auditors, Financial Controllers, Tax Professionals, Accounting & Finance Departments
  • Business Owners, Department Managers, Business and Financial Analysis
  • Corporate Financiers and Investment Bankers

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200,, e-mail

Field of Study:
  • Management Advisory Services: 16.8 CPE Credits
  • Total CPE credits earned in this workshop: 16.8 CPE Credits

Program Delivery Method: Group-Live
Program Level: Intermediate
Advance Preparation/Program Prerequisites: Basic, Intermediate (Update/ Overview/ Latest)

Course Outline:

DAY ONE (8:30 AM – 4:00 PM) DAY TWO (9:00 AM – 4:00 PM)

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

  • Highlight the key differences between US GAAP and IFRS , Refresher background to IFRS, Latest worldwide adoption update
  • The Conceptual Framework International Financial Reporting Standards (IFRS)
  • Explain in some detail the accounting required relating to IFRS and how basis of accounting has changed in many countries from their financial reporting ( GAAP).
  • IASB Standards transparency, accountability and efficiency to financial markets around the world.
  • Standards:

    1. Financial Statements (IAS 32, IAS 36, IAS 39, IFRS 9, IFRS 10)
    2. Fixed asset Impairment- (IAS 36)
    3. Joint Arrangements (IFRS 11)
    4. Accounting for combinations- (IFRS 3) - Consolidations & Equity Method Investments
    5. Intangibles Assets (SIC 32)
    6. Revenue (SIC 31)
  • First time adoption of IFRS, Understand the scope and transitional issues of IFRS adoption (IFRS 1 & IFRS 10)
  • Recent issues and possible future changes of IFRS, Revenue Recognition, (Amendments IFRS 1)
  • Insurance contracts, Retirement Plans (IFRS 26), Employee Benefits (IAS 19) Income Taxes (IAS 12)
  • Practical examples or case study’s / Question and Answers Times
  • IFRS: 9 Impairments
  • IFRIC 10: Interim Financial reporting
  • IFRS: 12 Disclosures of Interest
  • IFRS: 13 Fair Market Value Measurements
  • IFRIC: 15 Agreements for construction of real estate
  • IFRIC: 17 Distribution of non-cash assets
  • SIC 15: Operating Leases - incentives (IFRIC 4) Determining whether an arrangement contains a lease (IFRS 4)
  • SIC 27: Legal form of a lease: Evaluating the lease
  • How to develop your accounting policies that assists with understanding and interpretation of accounting Standards.
  • Important Things You Need to Know About IFRS/ Technical Updates/ Where do we go from here?
  • What is the progress of the US adopting IFRS?
  • Practical examples or case study's / Question and Answers Times

Meet Your Instructor

Dr. David E Sanders PhD,
President, Sanders and Sullivan Consulting

Dr. David is considered one of the worlds leading experts in accounting, finance, business consulting, A/P, A/R, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, Sarbanes Oxley (SOX), sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has conducted approximately 10,100 training sessions, including public seminars, on-sites, company training sessions, chamber of commerce's, colleges, videos, CD's and webinars.

David is called upon nationally and internationally for his Sarbanes Oxley (SOX) training abilities and to perform, walk through interim testing for core financial processes such as internal controls, risk analysis, fraud detection, fraud prevention, internal controls, financial reporting, revenue, inventory, and expenditure testing. David has been award Live Member Status with Sarbanes Oxley Compliance Professional Association which gives him the knowledge and ability to train companies across the globe on SOX.

The author of four acclaimed books and over 28 seminar workbooks, five training CD's and numerous webinars. David has a talent for breaking things down into easy to understand steps that can be implemented immediately. David was an Endorsed Local Provider for the Dave Ramsey Show covering the greater Cincinnati and Northern KY area.

David has a wealth of experience to share that is supported by impeccable financial credentials including over 38 years experience in the financial industry. He holds numerous degrees including Associate Degree in Accounting, Bachelors Degree in Accounting, Master Degree in Tax and a Ph.D. in Finance. His experience has included Accounting Manager, Corporate Controller, CFO, Government Tax Auditor, Business Consultant, and senior partner for various Accounting/ Tax/ Auditing firms nationally.

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Local Attractions

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