Who is the IFRS Essentials course intended for and what prior knowledge do you need?

The IFRS Essentials course is intended for financial professionals who deal with IFRS in their work: finance directors, controllers, financial administrators, accountants, financial consultants and managing directors. You need a basic knowledge of financial reporting and annual accounts. Specific prior knowledge of IFRS is not required; the course starts with the background and builds up to the common standards.

What is the difference between IFRS and Dutch GAAP?

IFRS (International Financial Reporting Standards) is the international reporting standard; Dutch GAAP is the Dutch variant. IFRS focuses more strongly on fair value and transparency towards providers of capital, whereas Dutch GAAP more often starts from historical cost and alignment with tax reporting. In the IFRS Essentials course you cover these differences on the basis of standards such as IAS 16, IAS 36, IAS 38 and IFRS 3.

Which IFRS standards are covered in the IFRS Essentials course?

In the IFRS Essentials course you cover all the common IFRS standards you need for correct financial reporting. These include IAS 1 (presentation), IAS 2 (inventories), IAS 7 (statement of cash flows), IAS 8, IAS 10, IAS 16, IAS 27, IAS 28, IAS 36, IAS 37, IAS 38, IFRS 1, IFRS 3 and IFRS 5. You learn to apply them directly to your own annual accounts.

Do you receive a certificate after the IFRS Essentials course?

Yes, on completion of the IFRS Essentials course you receive a certificate of participation from Learnit. This certificate shows that you have attended a full course day on the common IFRS standards, the differences with Dutch GAAP and the application of practical calculation models. You can add it to your CV or LinkedIn profile as evidence of your knowledge of IFRS reporting.

Is the IFRS Essentials course delivered in the classroom or online?

The IFRS Essentials course is taught classroom-based at You follow the course in a small group, together with other financial professionals. This set-up allows for direct interaction with the trainer and room to raise your own practical questions about financial reporting and annual accounts. The course material is included.

When should you choose a classroom-based IFRS course instead of self-study or a multi-day programme?

IFRS Essentials is suitable if you already have a basic knowledge of finance and want a quick, workable overview of the common IFRS standards such as IAS 1, IAS 2, IAS 16, IAS 36, IAS 38 and IFRS 3. You have direct interaction with a trainer, can ask questions about your own annual accounts and work with practical calculation models. With self-study you miss that feedback and it takes longer before you apply the standards correctly. A multi-day IFRS programme makes more sense if you are becoming responsible for the full IFRS implementation or consolidation within a listed group. For controllers, administrators and financial advisers who need to report with IFRS in mind or want to act as a sparring partner for management, it is generally sufficient.

What does the IFRS Essentials course give me that I cannot get from a handbook or online articles?

The IFRS Essentials course adds three things you will not find in a handbook. First, you work with practical calculation models that you apply directly to your own annual accounts, for example for IAS 16 (property, plant and equipment), IAS 36 (impairment) and IAS 38 (intangible assets). Second, you get a direct comparison between IFRS and Dutch GAAP, tailored to your situation. Listed, larger SME or private entity. Third, you can put questions to an experienced trainer and discuss cases with other finance professionals. The course runs, classroom-based. Self-study gives you the theory; this course gives you application, sparring and feedback on your own figures.

How do I know whether my organisation has to do anything with IFRS at all, or whether Dutch GAAP will suffice?

IFRS is mandatory for listed companies within the EU for their consolidated annual accounts. Non-listed companies may choose: Dutch GAAP (Title 9 of Book 2 of the Dutch Civil Code and the Dutch Accounting Standards) or IFRS on a voluntary basis. Applying IFRS voluntarily is mainly relevant if you have international investors, foreign parent companies or subsidiaries, if you are considering a stock market flotation, or if group reporting is done under IFRS. For purely Dutch SMEs without that context, Dutch GAAP is usually sufficient. In the IFRS Essentials course (classroom-based,) you learn the concrete differences between IFRS and Dutch GAAP and which considerations play a role in that choice, so that you can give well-founded advice within your own organisation.

How quickly after the IFRS Essentials course can I actually apply the standards in my work?

That depends on your starting level and the complexity of your organisation. If you already work in a financial role with knowledge of Dutch GAAP, you can start applying the basic standards such as IAS 1 (presentation), IAS 2 (inventories) and IAS 16 (property, plant and equipment) straight after the course day. The practical calculation models you receive during the day can be applied to your own figures immediately. For more complex topics, such as IFRS 3 (business combinations) or consolidation under IAS 27, you will generally need more time and possibly someone to spar with. Expect it to take a few weeks before you can draw up a complete set of annual accounts under IFRS independently. For a sparring partner role towards management, you will be sufficiently equipped afterwards to ask the right questions and assess the impact.

What does IFRS Essentials add if I already have experience with Dutch GAAP and prepare my organisation's financial statements?

The course focuses specifically on bridging the differences between Dutch GAAP and IFRS. If you already prepare annual accounts under Dutch GAAP, you gain insight into where IFRS differs in terms of measurement principles, presentation and disclosures. In concrete terms, you cover standards such as IAS 16 (property, plant and equipment), IAS 36 (impairment), IAS 38 (intangible assets) and IFRS 3 (business combinations), precisely on the points where Dutch reporting rules work out differently. You work with practical calculation models that you can apply directly to your own company information. The course is not an IFRS introduction from scratch, but builds on existing financial knowledge. For experienced Dutch GAAP users, this means you can move through the basics more quickly and have more time for the specific impact on your organisation. Investment:.

How does IFRS Essentials compare with an extensive IFRS programme lasting several weeks or a post-master's in IFRS?

IFRS Essentials is a classroom course aimed at giving you a workable overview of the common IFRS standards for financial reporting and annual accounts. A post-master IFRS programme or a multi-day programme lasting several weeks goes into greater depth on case studies, technical dilemmas and complex consolidations, and is aimed at accountants and specialists who apply IFRS on a daily basis. IFRS Essentials is a better fit if you are responsible for or advise on the annual accounts and want to master the main principles of IFRS: differences with Dutch GAAP, standards such as IAS 1, 2, 7, 16, 36, 37, 38 and IFRS 3, plus practical calculation models. For a specialist role in IFRS reporting at a listed company, a more in-depth programme is more realistic.

What does the IFRS Essentials course cost and how long does it take?

You will find the current price at the top right of this course page, together with the schedule, location and delivery format. For in-company or bespoke courses we are happy to provide a quotation on request.

IFRS Essentials course (1 day)

Name: IFRS Essentials
Price: 695.0 EUR
Availability: InStock

Would you like to get a grip on IFRS and make your annual accounts transparent and compliant? In the IFRS Essentials course you work with the current IFRS standards, discover the differences with Dutch GAAP and apply practical calculation models directly to your own organisation.

Description

The International Financial Reporting Standards (IFRS) provide greater transparency and comparability in the financial market. Listed companies are required to apply IFRS, but application can also be valuable for larger SMEs and other businesses.

In the IFRS Essentials course you work with the common IFRS standards for financial reporting and financial statements. You gain insight into the differences between IFRS and Dutch GAAP and you discover which companies have to apply IFRS. Using current practical examples, you see what the impact of IFRS is on your organisation.

Using a number of practical calculation models, you learn how to make your annual accounts transparent and compliant. During the course there is ample room to raise your own questions and discuss them with the trainer and the other participants.

Topics

The IFRS Essentials course covers all the IFRS standards you need for sound financial reporting. You learn the differences between IFRS and Dutch GAAP and find out which companies are required to apply IFRS. Using practical examples, you see what the impact of IFRS is on your organisation.

The following topics are covered:

Background and origins of IFRS
Comparison between IFRS and Dutch GAAP
IFRS on the stock exchange, in SMEs, in large companies and at private entities
The IFRS standards in outline
Property, plant and equipment (IAS 16 / IFRS 5)
Intangible assets (IAS 38)
Inventories (IAS 2)
Presentation of financial statements (IAS 1 / IFRS 1)
Impairment of assets (IAS 36)
Revenue from contracts with customers (IFRS 15)
Liabilities and provisions (IAS 37)
Consolidated financial statements and participating interests (IFRS 10 / IAS 27)
Investments in associates and joint ventures (IAS 28)
Business combinations (IFRS 3)
Leases (IFRS 16)
Financial instruments (IFRS 9)
Statement of cash flows (IAS 7)
Changes in accounting policies and estimates (IAS 8)
Events after the reporting period (IAS 10)
Current developments, including sustainability reporting (IFRS S1 and S2)

Result

After this course you know exactly what IFRS means for your financial reporting and annual accounts. You know the differences between IFRS and Dutch GAAP and you understand the considerations and benefits of applying IFRS.

You can:

recognise and apply the IFRS standards relevant to your organisation, apply practical IFRS calculation models to your own company information, prepare your annual accounts transparently and compliantly, and act as a sparring partner on IFRS for management.

You will also be up to date with current developments in IFRS, so that you can make well-considered choices in your financial reporting.

Target audience

Do you work on your organisation's financial reporting or financial statements? Or do you advise management on financial planning and strategy on the basis of the annual figures? Then this IFRS course is for you.

The course is intended for finance professionals who deal with IFRS in their work, such as:

finance directors and CFOs, managing directors, controllers and business controllers, administrators and finance officers, accountants, financial consultants and advisers.

A basic knowledge of financial reporting and the Dutch annual accounts (Dutch GAAP) is useful, but not a requirement.

Teaching method

Throughout this course, theory and practice alternate continuously. You work in a small group, so there is room for your questions and for the specific situation of your organisation. The trainer is an experienced IFRS specialist who takes you through the standards that are relevant to your work.

Using examples and case studies from day-to-day practice, you discover what IFRS means for financial reporting and the financial statements. You work with practical calculation models yourself, so that you can apply what you have learned directly to your own company information.

You receive the course materials digitally and a certificate of participation afterwards.

Prior knowledge

You do not need any specific prior knowledge to start this course. It is useful, however, if your work involves financial reporting or financial statements, for example as a controller, administrator, accountant or financial adviser.

Language

The training is given in Dutch as standard. The trainer has a good command of English. English-language course material can be used. With a minimum enrolment of 3 participants, the training can also be given entirely in English.

Number of days:

1 day

Course times:

from 10 am to 5 pm

Study load:

7 hours

Education level:

This training is suitable for all levels.

Exemptions:

Exemptions do not apply to this course.

Preparation time:

No preparation time applies to this course.

Certificate:

At the end of the course, a certificate is issued as proof of participation.

The best training for you

At Learnit you will always find a course that takes you further. From (technical) IT skills to communication or personal leadership. You can also choose the training format that suits you best: a classroom course, a tailor-made course at your own office, an online course or an e-learning. We have the right course and the right format for everyone. Because learning in the way that suits you best delivers the best results.

Moving forward together

Taking a training course at Learnit means learning together. Together with your experienced trainer, together with your course group or together with your colleagues. And whether you take the training at home, at your office or at one of our training locations, we are always available to help you. To share our knowledge with you in a way that is genuinely useful to you. Getting further together through personal attention and understanding each other well; that is what we believe in.

Apply it directly in your work

Learning theory from a book that you can then hardly use in your work? Not at Learnit! Whichever training you take with us, you can put it to use at your workplace straight away. Because of the unique learning objectives you set together with the trainer at the start of the training. Because of the alternation between theory and (interactive) practical assignments. And by bringing the challenges you face in your daily work along to the training.