IFRS financial statements

We will focus on areas where more data than for financial statements under Czech accounting standards must be obtained and explain what should be disclosed and why.

Who are the intended participants?

• Accounting staff in charge of statutory financial statements and consolidations under IFRS
• Staff of reporting functions dealing with the preparation of reporting packages under IFRS
• Employees of companies getting ready to transition to IFRS
• All who come across financial statements prepared under IFRS and need to have a basic knowledge of the main principles of IFRS

Programme

• Standards governing the contents of financial statements under IFRS
• Materiality concept in the preparation of financial statements
• Other comprehensive income
• Significant estimates
• Prior-year errors
• Subsequent events
• Related parties including ultimate owner
• Specific disclosures on financial instruments (financial risk and equity management) and fair value
• Other specific disclosures (revenue, investment property, consolidated financial statements and IFRS 12, etc.)

Benefits

After attending the course, you will be able to:

• Find out what data you need to collect for the preparation of notes to financial statements under IFRS
• Understand the mandatory part of financial statements under IFRS
• Understand the purpose of disclosing additional information in the notes
• Know how to disclose significant subsequent events in the financial statements