IFRS Updates
Standards change every year and the amendments that matter to you are rarely the ones getting the most attention. A session covering everything the IASB issued is largely wasted; a session covering what will change your statements, and what your auditors will ask about, is not. We scope the content against your actual financial statements before writing the material.
1
Scope
Against your statements
2
Prepare
Worked examples
3
Deliver
Interactive session
4
Apply
Your own numbers
5
Follow up
Questions afterwards
How the Training Works
01
Scoping Against Your Statements
We read your most recent statements before designing the session. That establishes which framework applies, which standards are material to you and which amendments will actually require a change.
- Current framework and applicable standards confirmed
- Amendments assessed for impact on your statements
- Prior year audit findings on disclosure reviewed
- Content scoped to what will genuinely affect you
02
Material Preparation
Worked examples built from transactions resembling your own. Illustrative examples about entities nothing like yours are the reason most technical training is forgotten within a week.
- Worked examples based on your transaction types
- Before and after disclosure illustrations
- Comparison between full IFRS and IFRS for SMEs where relevant
- Reference notes to keep after the session
03
Delivery
Interactive rather than presented at. Sessions run in house for a single client or as open programmes, and the in house format allows discussion of your actual accounting questions.
- In house or open programme delivery
- Interactive format with worked exercises
- Questions on your own transactions welcomed
- Recording available where the client requires it
04
Application to Your Numbers
Where an amendment affects you, we work through the actual impact rather than leaving the team to translate a principle into a journal after the session.
- Impact quantified on your own balances
- Journals and disclosure drafted in the session
- Implementation timeline established
- Items requiring auditor discussion identified
05
Follow Up
Questions arise afterwards, when the team applies it. A defined follow up window means the training produces a change in practice rather than a certificate.
- Defined period for follow up questions
- Clarification on application as issues arise
- Summary of agreed treatments circulated
- Refresher scheduled ahead of year end where useful
What You Receive
- Session scoped against your own financial statements
- Worked examples built on your transaction types
- Reference notes retained after the session
- Impact assessment on your own balances where amendments apply
- Attendance record and CPD confirmation
- Defined follow up period for questions
Indicative Timeline
A standard update session runs half a day. Scoping and material preparation take one to two weeks beforehand, which is what makes the session specific rather than generic.
- Statement review and scoping: three to five days
- Material preparation: one week
- Delivery: half day, or full day with application work
- Follow up period: agreed at booking
What We Cover
Content is scoped per client, but these are the areas that recur.
New Standards
Standards newly effective or shortly effective, and what adoption requires in practice.
Amendments
Narrow scope amendments, which are easy to miss and frequently the ones that catch teams out.
Disclosure Changes
Note requirements that changed, a common source of audit findings on otherwise sound statements.
IFRS for SMEs
Differences from full IFRS, and the periodic revisions to the SME standard itself.
Judgement Areas
Impairment, provisions and estimates, where auditors most often challenge management.
Common Errors
Treatments we routinely see wrong in practice, drawn from live engagements.
Frequently Asked Questions
Who should attend?
Anyone preparing or reviewing financial statements, which usually means the finance team and often the financial director. Where the audit committee wants the same content, a shortened board level version works better than including them in the technical session.
Do you cover IFRS for SMEs?
Yes, and for most owner managed clients that is the relevant framework. The SME standard is revised periodically rather than continuously, so those sessions focus more on application than on tracking annual change.
Can the training count for CPD?
We provide attendance records and content outlines suitable for CPD purposes. Whether a particular session meets your professional body requirements depends on their rules, which you should confirm with them.
Is it better in house or as an open programme?
In house, where you have enough people, because the examples can use your own transactions and the discussion can cover matters you would not raise in a public room. Open programmes suit smaller teams.
How current is the material?
Scoped and written for each engagement rather than reused. Standards change and recycled slide decks go stale quickly, which is a reasonable question to ask any provider.
Can you train on a specific standard we are struggling with?
Yes, and focused sessions are frequently more useful than general updates. Revenue recognition, leases and financial instruments are the usual requests.
Related Services
This sits inside our Training practice. Related work: Annual Financial Statements where preparation is outsourced rather than taught, and Audit and Assurance for the audit perspective on the same standards.
