International Financial Reporting Standards

The Nigerian Federal Executive Council adopted International Financial Reporting Standards (IFRS) to be used in preparing financial statements by all companies in Nigeria from 2012. IFRS are designed as a common global language for business affairs so that company accounts 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. The objectives of the course is to acquaint Senior Management Staff with the knowledge required to Understand reporting requirements using IFRS, Evaluate all reports that form part of companies annual reports and accounts, Prepare financial statements using IFRS, Interpret and compare financial statements of various companies using IFRS.

Learning contents:

  • The structure and operations of the International Accounting Standards Board
  • International Accounting Standards and International Financial Reporting Standards developed by the International Accounting Standards Board
  • The status and use of IFRS around the world
  • Nigeria IFRS conversion Roadmap
  • Overview of IAS 1 to 41
  • Overview of IFRS 1 to 14
  • First time adoption of IFRS
  • Evaluation of all reports in companies annual reports and accounts using IFRS
  • Codes of corporate governance in Nigeria
  • Case studies

For whom:   Directors, Company secretaries, Chief financial officers, Accountants

 

Fee:                One hundred and fifty thousand naira only

Duration:     One day