Certificate in

IFRS

International

Financial Reporting

Standards

ISMInternational School Of Management

U N L O C K I N G K N O W L E D G E

About the course

This programme which is designed according to the International Accounting

Standards Board (IASB) and Association of Chartered Certified Accountants (ACCA)

curricular with inputs from ICAN professional assessors is certified by the International

School of Management (ISM), Lagos for professional practitioners and

accounting/finance graduates. As the convergence in accounting standards

accelerates globally, more than 120 countries (including Nigeria) have subscribed to

the IFRS. It is now compulsory for publicly traded companies but also unavoidable for

every company in Nigeria to use international financial reporting standards (IFRS)

developed by the International Accounting Standards Board (IASB) instead of the

previous standards used in Nigeria (“Nigerian GAAP”).

Many professionals and organisations are expected to embrace this major shift in accounting practice and

financial reporting in Nigeria. The implementation of IFRS represents a massive shift in financial reporting

philosophy as well as compliance with new technical accounting requirements. Therefore, the International

School of Management (ISM), Lagos has been the IFRS provider of choice to many professionals and

corporate organisations in the last 2 years.

The adoption of IFRS in Nigeria also has implications for the capital market players, equity or non-equity

investors and the regulators. Of particular importance is this new development to many foreign investors

interested in the Nigerian markets.

and investor relations.

Participants will be able to apply the skills gained from this programme to the preparation of IFRS financial

statements and they will also learn how to analyse IFRS financial statements in business and economic decision

making.

This course is accredited for ICAN MCPE credits

This four-days intensive and rigorous expert level course has been designed to enable participant to

understand the impact of the adoption of IFRS on both company financial statements in particular and

business decisions and practices in general. The programme delivers the skills to prepare professionals and

their organisations for the implementation of IFRS. It explains the IASB's philosophy of financial reporting, the

technical requirements of IFRS and the impact of IFRS reporting on investment and financing decisions,

mergers and acquisitions, other contractual arrangements

Who

should attend? The transition to IFRS, which began in Nigeria

in 2012, currently has major implications for

the professional accountants, chief financial

officers, corporate treasurers, investment and

securities analysts, corporate financiers,

bankers, accounting/finance tutors and other

preparers and users of company financial

statements.

This course is accredited for ICAN MCPE credits

Specific benefits to the participants and their organisations

About the International School of Management(ISM) Lagos

ISM Lagos is a niche world class Nigerian business school with enviable professional and academic alliances across Africa,Europe and America. ISM Lagos is approved by the Federal Ministry of education and the Lagos State Agency for Mass Education as a postgraduate level academic institution for the provision of further and higher education in business and finance .

The institution parades a faculty of seasoned Nigerians and foreigners in strategic alliance with Laureate Online Education in Netherlands and Resource Development International (RDI) in the UK for offering graduate and postgraduate level qualifications up to doctoral level with prestigious partner universities such as University of Liverpool, Walden University, Roehampton University London and University of Bradford.

Faculty: ACCA, ICAN & ICAEW Certified

ISM Lagos is proud of a dedicated and passionate seven (7) member faculty of IFRS experts who have extensive IFRS training, advisory & conversion experiences. Our dedicated IFRS faculty members are all certified professionals having written relevant examinations and satisfied the requirements of regulators such as ACCA, ICAN and ICAEW.

Majority of our faculty members are also IFRS consultants to regulatory bodies. In line with our scholar-practitioner philosophy, all our faculty members have been in the professional accounting practise within banks, blue chip corporations and international professional accounting firms.

Profile of individual faculty member is available upon request.

Participants will be able to deal with the challenges of transition from statements of accounting standards to IFRS Participants will learn about the implication of IFRS for tax reporting and other local regulations They will to use IFRS financial statements in investment and financing decisions Participants will comprehend the impact of IFRS on their organisations and other businesses. They will be more familiar with the reasons for the adoption of new financial reporting regime and its numerous advantages They will understand the IASB's approach to financial reporting and its likely impact on company financial statements They will be aware of likely future changes in IFRS Participants will be able to handle conflicts between the IFRS and the local regulations on accounting and Financial reporting

This course is accredited for ICAN MCPE credits

Decision usefulness, transparency and comparability Key principles - recognition and measurement of assets, liabilities, income and expenses Key principles - disclosure and presentation The transition from national standards to IFRS

Course Outline

The transition to IFRS

The regulatory background

IFRS financial statements Preparation and presentation framework

Property, plant and equipment, intangible assets and inventories Impairment of assets

The basic standards - assets

Provisions, employee benefits including pensions and leases Income taxes

The basic standards - liabilities

Revenue from the sale of goods, services and long-term contracts

The basic standards - income and expenses

Statement of cash flows

IFRS financial statements

More complex issues - financial instrumentsPrimary and derivative financial instruments On balance sheet versus off balance sheet Investments in equity and debt securities - cost or market value Hedging instruments and hedge accounting Own equity and debt instruments Derecognition issues including securitisations

Some of the specific standards to be treatedThe Conceptual Framework for Financial ReportingIFRS 1 First-time Adoption of International Financial Reporting StandardsIFRS 2 Share-based PaymentIFRS 3 Business CombinationsIFRS 4 Insurance ContractsIFRS 5 Non-current Assets Held for Sale and Discontinued OperationsIFRS 6 Exploration for and Evaluation of Mineral ResourcesIFRS 7 Financial Instruments: DisclosuresIFRS 8 Operating SegmentsIFRS 9 Financial InstrumentsIFRS 10 Consolidated Financial StatementsIFRS 11 Joint ArrangementsIFRS 12 Disclosure of Interests in Other EntitiesIFRS 13 Fair Value MeasurementIFRS 14 Regulatory Deferral AccountsIFRS 15 Revenue from Contracts with CustomersIFRS 16 LeasesIFRS 17 Insurance Contracts

This course is accredited for ICAN MCPE credits

Some of the specific standards to be treated (Cont’d)IAS 1 Presentation of Financial StatementsIAS 2 InventoriesIAS 7 Statement of Cash FlowsIAS 8 Accounting Policies, Changes in Accounting Estimates and ErrorsIAS 10 Events after the Reporting PeriodIAS 11 Construction ContractsIAS 12 Income TaxesIAS 16 Property, Plant and EquipmentIAS 17 LeasesIAS 18 RevenueIAS 19 Employee BenefitsIAS 20 Accounting for Government Grants and Disclosure of Government AssistanceIAS 21 The Effects of Changes in Foreign Exchange RatesIAS 23 Borrowing CostsIAS 24 Related Party DisclosuresIAS 26 Accounting and Reporting by Retirement Benefit PlansIAS 27 Separate Financial StatementsIAS 28 Investments in Associates and Joint VenturesIAS 29 Financial Reporting in Hyperinflationary EconomiesIAS 32 Financial Instruments: PresentationIAS 33 Earnings per ShareIAS 34 Interim Financial ReportingIAS 36 Impairment of AssetsIAS 37 Provisions, Contingent Liabilities and Contingent AssetsIAS 38 Intangible AssetsIAS 39 Financial Instruments: Recognition and MeasurementIAS 40 Investment PropertyIAS 41 Agriculture

This course is accredited for ICAN MCPE credits

Groups of companies

Subsidiaries, associates, joint ventures and special purpose entities

Foreign subsidiaries

Mergers, acquisitions and disposals

Accounting for business combinations including goodwill

Accounting for discontinuing and discontinued operations

Investor relations, investment analysis and investment decisions Management compensation Acquisition agreements and other contractual arrangements Treasury IT systems

The wider implications of the transition from national to international standards

FOR FURTHER ENQUIRIES, PLEASE CONTACT:

International School of Management (ISM) Lagos

5 Yesuf Abiodun Street, Oniru, Victoria Island, Lagos.

Tel: 08090890909, 08085369898, 08085369976, 08086815957

Email: registrar@ism.edu.ng

Website: www.ism.edu.ng

* Participants are provided with six months update access to our IFRS online class for discussion, update Q&A,

conversion tips and support via our interactive online platform www.onlinecampus.edu.ng

This course is accredited for ICAN MCPE credits

Registration & Enquiries

Duration : 4 days

Registration : N15, 000 (non refundable)

ISMInternational School Of Management

U N L O C K I N G K N O W L E D G E

PLEASE MAKE CHEQUE TO

INTERNATIONAL SCHOOL OF MANAGEMENT

Tuition : N220, 000