International Finacial Reporting Standards

International Finacial Reporting Standards

International Finacial Reporting Standards


Diploma Courses


Duration : 6 Months


Fees : 200,000 MMK


International Finacial Reporting Standards

International Financial Reporting Standards, usually called IFRS,are issued by the and the (IASB) to provide a common global language for business affairs so that company are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. They are the rules to be followed by accountants to maintain books of accounts which are comparable, understandable, reliable and relevant as per the users internal or external. IFRS, with the exception of IAS 29 Financial Reporting in Hyperinflationary Economies and IFRIC 7 Applying the Restatement Approach under IAS 29, are authorized in terms of the historical cost paradigm. IAS 29 and IFRIC 7 are authorized in terms of the units of constant purchasing power paradigm.

IFRS began as an attempt to harmonize accounting across the European Union but the value of harmonization quickly made the concept attractive around the world. However, it has been debated whether or not de facto harmonization has occurred. Standards that were issued by IASC (the predecessor of IASB) are still within use today and go by the name International Accounting Standards (IAS), while standards issued by IASB are called IFRS. IAS were issued between 1973 and 2001 by the Board of the (IASC). On 1 April 2001, the new (IASB) took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and Standing Interpretations Committee standards (SICs). The IASB has continued to develop standards calling the new standards “International Financial Reporting Standards”.

IFRS Course Outlines

  1. The conceptual framework & Regulatory framework
  2. Presentation of Published financial statements
  3. Properties, Plants and Equipments
  4. Financial Instruments
  5. Leases
  6. Income Tax
  7. Revenue, Construction: Contracts and Inventories
  8. Liabilities
  9. Investment Property, Impairment loss and Borrowing costs
  10. Intangible Assets
  11. Government Grant, Held for Sale and Operation Segment
  12. Earning per share
  13. Reporting financial Performance
  14. Agriculture
  15. Employee Benefits
  16. Foreign Currency
  17. Share-based payment
  18. Group Accounting

Timetable

ClassDateTimeCommencement DateDurationFees(MMK)
Batch 2Sat

Sun

12:30 pm to 2:30pm

12:30 pm to 2:30pm

1-9-186 months200,000