"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 of the training covers following topics:

1. Introduction
2. Assets:   Trade Receivables, Inventories, Non-current tangible assets, Impairment of assets
3. Liabilities:   Provisions and contingent liabilities, Borrowings, Leasing
4. Other areas:   Accruals, Revenue recognition, Subsequent events, Foreign exchange operations, Income taxes
5. Reporting:   Preparation of financial statements, Cash flows statement

Training and all related materials are delivered in Azerbaijani. Standart training duration is 16 hours.
Training fee for corporate clients can range from 2,300 AZN to 2,950 AZN depending on the level of customization.