[WORKSHOP INVITATION] A decade of IFRS in the European Union

International Financial Reporting Standards (IFRS) has in the last 10 years become a global financial reporting language.
We now have well over 100 countries that prepare IFRS financial statements for their large companies. In 2015, it will be 10 years since IFRS was made mandatory for the listed companies in the European Union.

There have been substantial changes to some of the key standards during this period – IFRS 9 Financial Instruments (which will replace IAS 39) and a new revenue recognition standard IFRS 15 Revenue from Contracts with Customers have been issued in 2014.
Prior to that, in 2013, we had a suite of consolidation standards become effective. The definitions of “control” and “fair value” have been changed to make them more relevant. As a result of recent changes, we will see financial reporting of risk management activities more closely aligned with how risks are managed within the organization, and loan loss provisions being recognised based on forward-looking expected credit loss model.

It is important that finance and non-finance professionals understand the impact on financial analysis of the key principles in and changes to the international standards. We have organized a highly focused IFRS workshop for controllers on 21st November 2014 in Zagreb, which covers key balance sheet and income statement issues in application of IFRSs. This is a highly interactive, examples and case studies driven one-day workshop which will cover important topics like financial instruments, revenue recognition, tangible fixed assets including impairment, lease transactions and consolidated financial statements.

If you or your organization would like to learn about application and analysis of the key global accounting standards, do get in touch with us. We would be delighted to have you on our workshop (prior registration required) on 21st November, and would be happy to work with you in the future to deliver a cost-effective customised in-house programme.

Saket Modi, CFA
London, Great Britain