IFRS Fundamentals for Finance Professionals Training

The programme

Programme overview

Ratomac standard-specific IFRS courses — including IFRS 9, IFRS 15, IFRS 16 and IFRS 17 — assume a working foundation in accounting. This course provides that essential entry point: a plain-language grounding in the IFRS Conceptual Framework, financial statement presentation (including the transition from IAS 1 to IFRS 18, effective for periods beginning on or after 1 January 2027), and recognition and measurement fundamentals, for junior finance staff, career-changers and non-specialists.

Participants will leave able to read and interpret IFRS-based financial statements, identify which standards apply to a given transaction, and progress confidently into Ratomac specialist IFRS 9, IFRS 15, IFRS 16 or IFRS 17 programmes.

Who should attend

Who is this programme for?

• Junior Accountants and Finance Officers New to IFRS
• Finance Staff Transitioning from Local GAAP-Based Reporting to IFRS
• Non-Accounting Professionals Who Need to Interpret IFRS-Based Financial Statements
• Professionals Preparing for Ratomac More Advanced IFRS 9, IFRS 15, IFRS 16 or IFRS 17 Courses

Learning outcomes

What you will learn

• Explain the purpose, structure and underlying principles of IFRS Accounting Standards
• Describe the respective roles of the IFRS Foundation and the International Accounting Standards Board (IASB) in global financial reporting
• Understand how IFRS Accounting Standards are developed, amended and maintained
• Navigate the core financial statements and understand current and forthcoming presentation requirements
• Apply foundational recognition and measurement principles across common transaction types
• Identify which IFRS Accounting Standards apply to different transactions and industry contexts
• Distinguish between full IFRS Accounting Standards, IFRS for SMEs and local GAAP-based reporting frameworks
• Read and interpret IFRS-based financial statements with greater confidence
• Identify relevant IFRS updates and determine when new or amended requirements become effective
• A Clear IFRS Entry Point: Gain the foundational grounding required before progressing into more technical, standard-specific IFRS courses.
• Plain-Language Learning: Understand IFRS through practical explanations and worked examples rather than unnecessary technical jargon
• Confident GAAP-to-IFRS Transition: Develop a clearer understanding of how IFRS-based reporting differs from local or jurisdiction-specific accounting frameworks
• Know Where to Look: Learn how to determine which standards apply to particular transactions and where to find authoritative IFRS guidance
• Current IFRS Awareness: Understand how to distinguish requirements currently in force from newly issued or forthcoming requirements, including the transition from IAS 1 to IFRS 18

Explore the programme

Detailed programme outline

• Why global accounting standards exist and the reporting problems they are designed to address
• Purpose and structure of IFRS Accounting Standards
• The IFRS Conceptual Framework and its core principles
• Objective of general-purpose financial reporting
• Qualitative characteristics of useful financial information
• Elements of financial statements
• How the Conceptual Framework underpins individual IFRS Accounting Standards
• Structure and role of the IFRS Foundation
• Role and responsibilities of the International Accounting Standards Board
• How new IFRS Accounting Standards and amendments are developed
• Understanding exposure drafts, amendments, effective dates and transition requirements
• IFRS adoption and application around the world
• Understanding the distinction between full IFRS Accounting Standards, IFRS for SMEs and local reporting frameworks
• Where to find and how to navigate authoritative IFRS guidance
• Keeping track of current standards and future changes
• Purpose and components of a complete set of financial statements
• Statement of financial position
• Statement of profit or loss and other comprehensive income
• Statement of changes in equity
• Statement of cash flows
• Notes and supporting disclosures
• IAS 1 presentation principles applicable during the transition period
• Current and non-current classification fundamentals
• Introduction to IFRS 18 Presentation and Disclosure in Financial Statements
• Transition from IAS 1 to IFRS 18
• New defined subtotals in the statement of profit or loss under IFRS 18
• Introduction to management-defined performance measures
• Improved principles for aggregation and disaggregation of financial information
• Common financial statement presentation errors and how to avoid them
• IFRS 18 replaces IAS 1 for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted.
• Understanding assets, liabilities, equity, income and expenses
• Recognition principles within the IFRS Conceptual Framework
• Derecognition fundamentals
• Measurement bases used in IFRS Accounting Standards
• Historical cost
• Current value and fair value concepts
• Applying recognition and measurement principles to common transactions
• Understanding the role of estimates, assumptions and professional judgement
• Common recognition and measurement mistakes made by new practitioners
• Overview of the IFRS Accounting Standards most finance professionals encounter in day-to-day reporting
• Inventories
• Property, plant and equipment
• Intangible assets
• Impairment of assets
• Revenue recognition
• Leases
• Financial instruments
• Provisions and contingent liabilities
• Income taxes
• Events after the reporting period
• Fair value measurement
• Understanding how individual standards interact with the Conceptual Framework
• Recognising recent amendments and determining whether they affect an organisation
• Introduction to IFRS 19 Subsidiaries without Public Accountability: Disclosures and where it may apply
• Building a personal reference map of the standards relevant to your role
• IFRS 19 allows eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosure requirements and becomes effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted.
• Recognising when a transaction falls within a specific IFRS Accounting Standard
• Understanding when IFRS 9 Financial Instruments applies
• Understanding when IFRS 15 Revenue from Contracts with Customers applies
• Understanding when IFRS 16 Leases applies
• Understanding when IFRS 17 Insurance Contracts applies
• Industry contexts in which specialist standards have greater significance
• Recognising other specialised requirements relevant to particular industries and transactions
• Why the Conceptual Framework remains important when applying specialist standards
• Knowing when specialist technical guidance or further training is required
• Mapping IFRS Accounting Standards across a typical organisation
• Building confidence to read and interpret unfamiliar standards
• Understanding how IFRS requirements, amendments and effective dates are organised
• Distinguishing between standards currently effective and requirements issued for future application
• Monitoring IASB developments and maintaining current IFRS knowledge
• Understanding where IFRS for SMEs may apply
• Awareness of the updated third edition of the IFRS for SMEs Accounting Standard
• Identifying the appropriate specialist IFRS training for your role
• Building a structured personal IFRS development pathway
• Progressing into IFRS 9, IFRS 15, IFRS 16 or IFRS 17 specialist training
• The third edition of the IFRS for SMEs Accounting Standard was issued in 2025 and becomes effective for annual periods beginning on or after 1 January 2027, with earlier application permitted.

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.