It is an advanced course that requires basic knowledge of IFRS.
During the course students will:
- Compare IFRS and national accounting standards (for example, Belarusian GAAP) and study all the differences in theory and practice.
- Learn to apply the principles of national financial statements transformation into IFRS financial statements.
- Study and learn to apply typical IFRS adjustments to such accounts as prepaid expenses, accounts receivable and prepayments, inventories, fixed assets and intangible assets, loans and borrowings, allowances, reserves, provisions, income and expenses accounts.
- Learn to distinguish between opening restatement adjustments (ORA) and adjustments of the current period (AJE).
- Get a deep insight into typical adjustments to non-monetary accounts applied according to IAS 29 "Financial reporting in hyperinflationary economies"
According to IFRS, every transaction should be reported in accordance with its economic substance instead of its presentation form required by the local accounting standards. In this regard financial specialists should learn to apply their professional judgment.
Format of training on Financial statements transformation
Corporate IFRS training can be conducted in the following formats:
- an intensive basic training for a few days (3-8 days);
- a full course training in off-work hours (4-5 months);
- distance learning through online learning support system (4-5 months).
The course syllabus and schedule are adapted to the needs of every client: some aspects of the course can be given more attention, and some can be studied in less detail.
A key feature of FIN.by trainings is its online learning support system test.fin.by, which allows students:
- to test their knowledge through online tests and assignments after each topic, which are graded automatically;
- to ask questions regarding theoretical material and get a prompt and detailed response from qualified professionals practicing in the field of IFRS and financial statement transformation.