Do you know the IFRS standards but find it difficult to apply them to accounting transactions and the preparation of financial statements?
Do you want to learn how to move from:
and at the same time prepare for the ACCA CertIFR exam? This program was designed for exactly that.
By the end of the program you will be able to:
Seven stages every transaction passes through, each handing a defined output to the next.
The starting point: account balances before any treatment. You check that it balances and review it line by line.
Output: Opening balances ready for analysisYou read each line, identify the standard that governs it and its requirements — where the standard turns from text into a decision.
Output: A map of line → standardYou translate the required treatment into debit and credit entries, at the right amounts and the right timing.
Output: Documented, justified entriesDepreciation, amortisation, provisions, expected credit losses, and inventory, revenue and tax adjustments.
Output: Twelve adjustments appliedYou merge the entries and adjustments and rebalance — these are the balances the statements are built on.
Output: Final, confirmed balancesProfit or loss, financial position, cash flows, and changes in equity.
Output: Four interlocking statementsYou tie each disclosure to its standard and complete the presentation requirements — only then is the report complete.
Output: A complete financial reportIt is a cycle, not a straight line: this year’s disclosures become next year’s opening balances, and an error at any stage carries forward.
| Standard | What is applied |
|---|---|
| IAS 1 – Presentation of Financial Statements | — |
| IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors | — |
| Conceptual Framework | — |
| IFRS 15 – Revenue from Contracts with Customers | Applying revenue recognition for contracts with customers. |
| IAS 2 – Inventories | Measurement of inventory, cost, NRV, and adjustments. |
| IAS 16 – Property, Plant and Equipment | Recognition of assets, depreciation, revaluation and disposal. |
| IAS 38 – Intangible Assets | Intangible assets and amortisation. |
| IAS 36 – Impairment of Assets | Impairment testing of assets and accounting for impairment losses. |
| IAS 23 – Borrowing Costs | Accounting for borrowing costs. |
| IFRS 16 – Leases | Right-of-use, lease liability, interest and depreciation. |
| IFRS 9 – Financial Instruments | Measurement, classification, impairment and Expected Credit Loss. |
| IFRS 7 – Financial Instruments: Disclosures | Disclosures and risks relating to financial instruments. |
| IAS 37 – Provisions, Contingent Liabilities and Contingent Assets | Provisions, contingent liabilities and contingent assets. |
| IAS 12 – Income Taxes | Current tax and the concepts of deferred tax. |
| IAS 7 – Statement of Cash Flows | Preparing the statement of cash flows using the Indirect Method. |
| IFRS 18 – Presentation and Disclosure | Understanding the modern presentation and disclosure requirements, noting the effective date. |
Understanding the fundamentals of IFRS financial reporting and applying them in practice, including:
Eleven standards applied to accounting transactions.
You will learn how to convert the Trial Balance into an Adjusted Trial Balance by applying the standards across twelve adjustments.
Hands-on preparation and analysis of the statement, linking every line to the relevant standard.
Detailed preparation and classification of assets, equity and liabilities.
The statement of cash flows, changes in equity, the modern presentation requirements, and the notes.
You will not stop at studying isolated cases. You will work on a complete fictional company containing varied financial data and transactions.
The program includes a dedicated stage preparing for the ACCA Certificate in International Financial Reporting (CertIFR).
You will learn how to convert the Trial Balance into an Adjusted Trial Balance by applying the standards to:
Identify → Apply IFRS → Calculate → Journal Entry → Adjust → Report
We follow the method on a single worked example all the way down: a machine depreciated under IAS 16.
What exactly is this item?
Which standard governs it, and what does it require?
What is the right number?
What is the entry?
How does the trial balance change?
Where does it surface in the statements?
Hands-on preparation and analysis of:
Linking every line to the relevant standard.
Detailed preparation and classification of:
Then: Total Assets = Total Equity + Total Liabilities
Preparing the statement of cash flows using the Indirect Method.
Preparing and analysing the changes in equity.
Understanding the modern presentation and disclosure requirements, noting the effective date.
Notes & Disclosures — Linking the disclosures to the relevant standards, including: IFRS 15 | IFRS 7 | IFRS 16 | IAS 16 | IAS 37 | IAS 2 | IAS 36
You will not stop at studying isolated cases.
You will work on a complete fictional company containing varied financial data and transactions.
And you will produce:
One project that connects the standards to a complete set of financial statements.
The program includes a dedicated stage preparing for:
ACCA Certificate in International Financial Reporting (CertIFR)
It covers:
The program aims to prepare the trainee for the ACCA CertIFR exam; it is not in itself the official ACCA certificate.
Suitable for:
You do not learn IFRS as rules alone...
From knowledge to application — and from application to professional competence
45 training hours
For dates or group enrolment, contact us directly.
