Training Objectives
International Financial Reporting Standards (IFRS) are obligatory in preparing and presenting financial reports in Kuwait. Yet, IFRS undergo some changes or additions from time to time and financial professionals should update their knowledge to help their entities comply with those standards.
This training course offers a high-level overview of the latest accounting standards developments/changes, practical application issues of existing standards and upcoming changes. At the end of the course, participants will be aware on the major changes in accounting standards affecting companies in different industry sectors.
This training course offers a high-level overview of the latest accounting standards developments/changes, practical application issues of existing standards and upcoming changes. At the end of the course, participants will be aware on the major changes in accounting standards affecting companies in different industry sectors.
By the end of this course, participants will be able to:
- Describe the setting process in IFRS and list the currently available standards.
- Explain the most recent updates on existing IFRS and evaluate the effect of newly issued standards on their organization.
- Determine the correct presentation and minimum disclosure for the components of statement of financial position, statement of comprehensive income, statement of owners' equity and statement of cash flows in accordance with IFRS.
- Appraise and properly account for transactions affecting current assets and liabilities, non-current assets and liabilities, revenues and expenses in accordance with IFRS.
- Apply professional judgment in applying IFRS for matters relating to non-recurrent business transactions.
Target Audience
- Professionals working in accounting and audit.
- Auditors
- Finance Mangers.
- Financial Analysts.
Training Methodology
The course will run on a workshop basis, including:
- Live- led sessions by the instructor.
- Slide presentations.
- Practical Application.
- Brainstorming.