"IFRS Basics" Training

International Financial Reporting Standards (IFRS) are the most widely accepted accounting standards worldwide. Over 120 countries and about 7,000 public companies have complied with IFRS. Azerbaijani legislation requires reporting under IFRS for all companies of public significance since 2004. All other companies must prepare their financial statements either under IFRS of under National Accounting Standards, which are very close to IFRS.
 
This two-day course provides an overview of all major technical IFRS requirements applicable to most common transactions and includes numerous examples and tasks from local real life circumstances. We also explain practical aspects of implementation and relevant techniques to be applied.
During the course you will learn about: 
  •     Concepts and current requirements of IFRS
  •     Implementation of IFRS in main areas that affect most companies
  •     Major differences between IFRS and traditional local accounting practices
  •     Preparing IFRS financial statements
The training should be useful for finance directors, accountants, finance analysts, reporting specialists, internal and external auditors.
The program and timeline of the training is as follows:
 
Overview Elements of financial statements 30 mins
  Double-entry accounting 45 mins
  Accrual concept 30 mins
  Other concepts (materiality, substance over form, prudence) 30 mins
Assets Receivables 60 mins
  Inventories and Cost of Sale 60 mins
  Fixed and intangible assets 90 mins
  Impairment of assets 45 mins
Liabilities Provisions and contingent liabilities 60 mins
  Borrowings 60 mins
  Leasing 60 mins
Other areas Accruals and prepayments 60 mins
 
Revenue recognition
60 mins
  Events after balance sheet date 45 mins
  Foreign currencies 45 mins
  Taxation 45 mins
Reporting Preparation of financial statements 45 mins
  Cash flow statement 90 mins
  Total   16 hours
 
Training and all related materials are delivered in Azerbaijani. 
Training fee for corporate clients can range from 2,300 AZN to 2,950 AZN depending on level of customization. Training fee for individuals is 320 AZN per person. 
 
Those interested may fill out below application forms and our managers will contact you shortly!