Procedural issues of conversions to IFRS, consolidations and changes in functional currencies

This course consists of three independent sections for which participants can register either separately or in any preferred combination. Get acquainted with the procedural and financial opportunities and pitfalls of such significant changes as there are company conversions to IFRS.

No dates available. If you are interested in attending the training, please fill the form.

Who are the intended participants?

  • Chief financial officers.
  • Executives and managers.
  • Other key personnel who decide on an entity’s strategic issues.

Programme

9am –11:30am
Conversion to IFRS

  • Trends in and reasons for conversions to IFRS: financing, economic globalisation.
  • The procedural management of conversions – company executives, finance and IT departments.
  • The circulation of information.
  • Examples of the basic differences between Czech GAAP and IFRS in their demands on the individual levels of management and staff focusing on the notes to the financial statements.
  • Technical aspects of conversion (accounting system, excel).

12:30pm –2:30pm 
Procedural approaches to consolidations

  • Consolidation obligation.
  • Demands on company executives, finance and IT departments.
  • System solutions and their pros and cons (Excel, Eureka, Tagetik).
  • Expense calculations for HR system solutions, the circulation of information and software solutions.

2:45pm –4:45pm  
Changes in functional currencies

  • Functional currency rules and reasons for the transition to another functional currency.
  • Transition variants (e.g. one vs. two account headings and their modification).
  • Risks of given variants (e.g. fines from the tax authorities, incorrect outputs).
  • Change procedures for the chosen variants.
  • Costliness and benefits of solutions (human factor, software, business value of information, risk of mistakes).

Benefits

After the completion of the course, you will be able to:

  • Effectively manage the conversion of your company to IFRS and another functional currency.
  • Identify procedural risks and shortcomings in the transition to IFRS and/or in the planning of your company’s initial consolidation.
  • Appreciate the costliness and the benefits of the individual solutions to the transitions to IFRS or to another functional currency or to the initial consolidation.
Date

Procedural issues of conversions to IFRS, consolidations and changes in functional currencies

Course fee: 6 800,- CZK ex. VAT
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