International Financial Reporting Standards (IFRS) - International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) - a set of documents (standards and interpretations) regulating the rules for the preparation of financial reporting necessary for external users to make economic decisions regarding the enterprise.

The processes of globalization of economic relationships require the formation and compliance with standard rules for maintaining financial reporting in various segments of the world market - commodity, financial, stock and others. In this regard, the transition of subjects of international economic activity to IFRS is becoming extremely relevant.

International standards make it possible to create conditions and prerequisites for accelerating the integration of national securities markets into the international system of financial markets, as well as increasing the influx of foreign investment.

Unlike some national reporting rules, international standards are principles-based rather than hard-and-fast rules. The fundamental feature of international standards is that when working with reporting, they recommend starting not from legislative norms, but from economic realities. Thus, one of the basic principles is the priority of economic content over form.

The purpose of the transition of enterprises to IFRS is to increase market transparency of business, which, in turn, is a prerequisite for improving the quality of corporate governance (at the microeconomic level) and improving the investment climate (at the macroeconomic level).

International financial reporting standards have been officially recognized since 2011 and began to be used in the Russian Federation, so IFRS courses have become extremely popular.

Almost all enterprises consider IFRS training a relevant matter and send their accountants to IFRS courses. First of all, companies that work in contact with foreign partners and conduct international trade show interest in the courses.

IFRS courses

IFRS training is based on standards adopted in Russia - the path of their adaptation to international standards has been accepted as the main direction for implementation in everyday use. Therefore, the courses are aimed not at beginners, but at knowledgeable people, for whom only the form of displaying financial statements changes.

The principles of international standards differ in many ways from national standards, from terminology to the form of balance sheet preparation. It is difficult to study all this on your own, so Moscow actively sends accountants and economists to IFRS courses.

Based on the results of the training, a final certification is carried out, and a diploma or certificate is issued depending on the program of classes conducted.

Form of study	Class schedule
Part-time (evening) 2-3 times a week	3 times a week from 18.30 to 21.30 or
Weekend group (Saturday or Sunday)	2-3 times a week from 10.00 to
Training period	until 16.00
depending on the program and class schedule	Weekend group - Saturday or Sunday from
final examination	10.00 to 16.00
depending on the program

Topic 1. IFRS structure and accounting principles

1. Purpose of IFRS and their distribution. Application of international financial reporting standards in the Russian Federation.

2. Structure of standards (IAS, IFRS, SIC, IFRIC). Changes to IFRS and the procedure for applying new standards.

3. Conceptual framework of IFRS: qualitative characteristics of financial information, going concern assumption, accrual basis, main elements of financial statements.

Topic 2. Main differences between Russian accounting standards and international accounting standards

1. Distinctive features of the principles for preparing financial statements according to international and Russian standards. Conceptual differences. Differences due to established accounting practices. Technical differences.

Topic 3. Structure of financial statements according to IFRS

1. IAS 1 Presentation of Financial Statements. IAS 34 Interim Financial Reporting. Composition of financial statements, relationship between reporting forms. Statement of financial position. Statement of comprehensive income. Statement of changes in equity. Cash flow statement. Notes to the financial statements.

2. IAS 8 "Accounting policies, changes in accounting estimates and errors."

3. Consideration of examples of financial statements of Russian corporations under IFRS.

Topic 4. Valuation of assets and liabilities in accordance with IFRS

1. Measurement at initial recognition and subsequent measurement of assets and liabilities.

2. IFRS 13 "Fair value". Basic rules for determining the fair value of assets and liabilities.

2. The procedure for calculating discounted value. Concepts of annuity, PV, NPV, discount rates. Application of the discounting method when calculating asset impairment, present value of receivables and payables. Examples of discounted value calculations.

3. IAS 21 "The Impact of Changes in Exchange Rates". Determination of functional currency, initial recognition and subsequent measurement of foreign currency transactions. Translation into presentation currency.

Topic 5. Inventory accounting

1. 1. IAS 2 "Inventories". Recognition criteria, calculation of inventory cost.

2. Methods for valuing inventories at the end of the reporting period, the concept of net selling price.

3. Methods for writing off inventories as part of the cost of products manufactured and services provided.

Topic 6. Accounting for fixed assets, asset impairment, investment property

1. IAS 16 “Fixed assets”: definition, basic principles for the formation of initial value, further changes in initial value. Accounting for fruit crops within the framework of IAS 16. Methods of depreciation of fixed assets. Component approach to fixed asset accounting. IAS 23 "Borrowing Costs". Recognition criteria. Start, suspension and termination of capitalization. The influence of the reserve for the liquidation of fixed assets and environmental restoration on the determination of the book value of fixed assets. Revaluation of fixed assets: methodology, reflection in the financial statements. Methods for accounting for the revaluation reserve: upon disposal of an object, annual transfer of excess depreciation.

2. IAS 38 "Intangible assets". Recognition criteria, initial measurement of intangible assets acquired separately and in a business combination, internally generated intangible assets. Accounting for subsequent costs. Features of the subsequent valuation of intangible assets: SS method, indefinite useful life, liquidation value.

3. Investment property (IAS 40). Concept and composition, recognition criteria, transfer of fixed assets to investment property. Methods for determining the carrying value at the end of the reporting period, accounting for changes in fair value.

4. IAS 36 "Impairment of Assets". Impairment of fixed assets, goodwill, intangible assets with an indefinite useful life. Signs of asset impairment. Impairment test methodology (estimation of recoverable amount, calculation of value in use). Cash generating unit. Accounting and distribution of impairment losses. Reversal of impairment loss.

Topic 7. Lease of fixed assets

1. IFRS 16 "Lease". Lessor accounting: operating and finance leases. Determination of interest expense for finance lease.

2. Lessee accounting: lease recognition requirements, lease term, initial recognition and subsequent accounting of lease rights and lease obligations. Exceptions.

3. Sale and leaseback transactions. Adjustments to fair value.

4. Disclosure of information about leases in financial statements.

Topic 8. Recognition of revenue from the sale of goods and services in accordance with IFRS

1. IFRS 15 "Revenue from contracts with customers". The concept of transfer of control. 5 steps to recognize revenue.

Topic 9. Business combination

1. IFRS 3 “Business Combinations” - business combination transactions. Accounting for goodwill. Non-controlling interest.

Topic 10. Consolidated and separate reporting

1. 1. IFRS 10 "Consolidated reporting". Concept of control. Reporting consolidation methodology. Major consolidation adjustments. Consolidation of the statement of financial position, statement of profit or loss and other comprehensive income.

2. IAS 27 "Separate Financial Statements". Reflection of investments in subsidiaries and associated companies in the investor’s separate statements.

Topic 11. Investments in associated companies

1. IAS 28 Investments in Associates. Equity method of accounting for investments in associated companies.

Topic 12. Reserves, contingent assets and contingent liabilities

1. IAS 37 "Provisions, contingent liabilities and contingent assets" - concept and examples.

2. Criteria for creating a reserve, legal and constructive obligation, possible categories of reserves. Contingent liabilities and contingent assets.

3. Consideration of information disclosure in actual reporting of Russian corporations.

Topic 13. Events after the reporting date

1. IAS 10 “Events after the reporting period”: adjusting and non-adjusting events, specific cases.

2. Recognition and disclosure as part of financial statements.

Topic 14. Financial instruments: recognition, measurement, disclosure in financial statements

1. IFRS 9 "Financial Instruments". The concept of a financial instrument. Financial assets and financial liabilities. Classification and reclassification of financial instruments.

2. Initial recognition and subsequent measurement of financial instruments. Modification of cash flows for financial instruments carried at amortized cost. Creation of a reserve for impairment of financial assets.

Topic 15. Income tax

1. IAS 12 “Income taxes”: the concept of deferred taxes, the procedure for determining and accounting for temporary differences. Application of the "balance sheet method" when calculating deferred tax. Recognition of a deferred tax asset. Offsetting deferred tax assets and liabilities.

2. Examples of disclosure of real data in financial statements.

Topic 16: Discontinued operations and non-current assets held for sale (IFRS 5)

1. The concept of discontinued operations. The procedure for reflecting the results of discontinued operations. The procedure for recording non-current assets intended for sale.

Topic 17. Cash flow statement

1. IAS 7 “Cash Flow Statement” - structure, presentation forms. Distribution of cash flows between operating, investing and financing activities.

2. Direct and indirect methods of reporting.

Topic 18. Transformation of Russian reporting into IFRS reporting

1. IFRS 1 "First-time adoption of IFRS": preparation of the first financial statements under IFRS. Date of transition to IFRS. Incoming balance. Main exceptions to IFRS requirements when preparing first financial statements.

2. Transfer method and parallel accounting method. Practical tasks on transposing individual elements of financial statements (end-to-end examples throughout the course).

3. The final task of transforming reporting.

Topic 1. IFRS structure and accounting principles

1. Purpose of IFRS and their distribution. Application of international financial reporting standards in the Russian Federation.

2. Structure of standards (IAS, IFRS, SIC, IFRIC). Changes to IFRS and the procedure for applying new standards.

3. Conceptual framework of IFRS: qualitative characteristics of financial information, going concern assumption, accrual basis, main elements of financial statements.

Topic 2. Main differences between Russian accounting standards and international accounting standards

1. Distinctive features of the principles for preparing financial statements according to international and Russian standards. Conceptual differences. Differences due to established accounting practices. Technical differences.

Topic 3. Structure of financial statements according to IFRS

1. IAS 1 Presentation of Financial Statements. IAS 34 Interim Financial Reporting. Composition of financial statements, relationship between reporting forms. Statement of financial position. Statement of comprehensive income. Statement of changes in equity. Cash flow statement. Notes to the financial statements.

2. IAS 8 "Accounting policies, changes in accounting estimates and errors."

3. Consideration of examples of financial statements of Russian corporations under IFRS.

Topic 4. Valuation of assets and liabilities in accordance with IFRS

1. Measurement at initial recognition and subsequent measurement of assets and liabilities.

2. IFRS 13 "Fair value". Basic rules for determining the fair value of assets and liabilities.

2. The procedure for calculating discounted value. Concepts of annuity, PV, NPV, discount rates. Application of the discounting method when calculating asset impairment, present value of receivables and payables. Examples of discounted value calculations.

3. IAS 21 "The Impact of Changes in Exchange Rates". Determination of functional currency, initial recognition and subsequent measurement of foreign currency transactions. Translation into presentation currency.

Topic 5. Inventory accounting

1. 1. IAS 2 "Inventories". Recognition criteria, calculation of inventory cost.

2. Methods for valuing inventories at the end of the reporting period, the concept of net selling price.

3. Methods for writing off inventories as part of the cost of products manufactured and services provided.

Topic 6. Accounting for fixed assets, asset impairment, investment property

1. IAS 16 “Fixed assets”: definition, basic principles for the formation of initial value, further changes in initial value. Accounting for fruit crops within the framework of IAS 16. Methods of depreciation of fixed assets. Component approach to fixed asset accounting. IAS 23 "Borrowing Costs". Recognition criteria. Start, suspension and termination of capitalization. The influence of the reserve for the liquidation of fixed assets and environmental restoration on the determination of the book value of fixed assets. Revaluation of fixed assets: methodology, reflection in the financial statements. Methods for accounting for the revaluation reserve: upon disposal of an object, annual transfer of excess depreciation.

2. IAS 38 "Intangible assets". Recognition criteria, initial measurement of intangible assets acquired separately and in a business combination, internally generated intangible assets. Accounting for subsequent costs. Features of the subsequent valuation of intangible assets: SS method, indefinite useful life, liquidation value.

3. Investment property (IAS 40). Concept and composition, recognition criteria, transfer of fixed assets to investment property. Methods for determining the carrying value at the end of the reporting period, accounting for changes in fair value.

4. IAS 36 "Impairment of Assets". Impairment of fixed assets, goodwill, intangible assets with an indefinite useful life. Signs of asset impairment. Impairment test methodology (estimation of recoverable amount, calculation of value in use). Cash generating unit. Accounting and distribution of impairment losses. Reversal of impairment loss.

Topic 7. Lease of fixed assets

1. IFRS 16 "Lease". Lessor accounting: operating and finance leases. Determination of interest expense for finance lease.

2. Lessee accounting: lease recognition requirements, lease term, initial recognition and subsequent accounting of lease rights and lease obligations. Exceptions.

3. Sale and leaseback transactions. Adjustments to fair value.

4. Disclosure of information about leases in financial statements.

Topic 8. Recognition of revenue from the sale of goods and services in accordance with IFRS

1. IFRS 15 "Revenue from contracts with customers". The concept of transfer of control. 5 steps to recognize revenue.

Topic 9. Business combination

1. IFRS 3 “Business Combinations” - business combination transactions. Accounting for goodwill. Non-controlling interest.

Topic 10. Consolidated and separate reporting

1. 1. IFRS 10 "Consolidated reporting". Concept of control. Reporting consolidation methodology. Major consolidation adjustments. Consolidation of the statement of financial position, statement of profit or loss and other comprehensive income.

2. IAS 27 "Separate Financial Statements". Reflection of investments in subsidiaries and associated companies in the investor’s separate statements.

Topic 11. Investments in associated companies

1. IAS 28 Investments in Associates. Equity method of accounting for investments in associated companies.

Topic 12. Reserves, contingent assets and contingent liabilities

1. IAS 37 "Provisions, contingent liabilities and contingent assets" - concept and examples.

2. Criteria for creating a reserve, legal and constructive obligation, possible categories of reserves. Contingent liabilities and contingent assets.

3. Consideration of information disclosure in actual reporting of Russian corporations.

Topic 13. Events after the reporting date

1. IAS 10 “Events after the reporting period”: adjusting and non-adjusting events, specific cases.

2. Recognition and disclosure as part of financial statements.

Topic 14. Financial instruments: recognition, measurement, disclosure in financial statements

1. IFRS 9 "Financial Instruments". The concept of a financial instrument. Financial assets and financial liabilities. Classification and reclassification of financial instruments.

2. Initial recognition and subsequent measurement of financial instruments. Modification of cash flows for financial instruments carried at amortized cost. Creation of a reserve for impairment of financial assets.

Topic 15. Income tax

1. IAS 12 “Income taxes”: the concept of deferred taxes, the procedure for determining and accounting for temporary differences. Application of the "balance sheet method" when calculating deferred tax. Recognition of a deferred tax asset. Offsetting deferred tax assets and liabilities.

2. Examples of disclosure of real data in financial statements.

Topic 16: Discontinued operations and non-current assets held for sale (IFRS 5)

1. The concept of discontinued operations. The procedure for reflecting the results of discontinued operations. The procedure for recording non-current assets intended for sale.

Topic 17. Cash flow statement

1. IAS 7 “Cash Flow Statement” - structure, presentation forms. Distribution of cash flows between operating, investing and financing activities.

2. Direct and indirect methods of reporting.

Topic 18. Transformation of Russian reporting into IFRS reporting

1. IFRS 1 "First-time adoption of IFRS": preparation of the first financial statements under IFRS. Date of transition to IFRS. Incoming balance. Main exceptions to IFRS requirements when preparing first financial statements.

2. Transfer method and parallel accounting method. Practical tasks on transposing individual elements of financial statements (end-to-end examples throughout the course).

3. The final task of transforming reporting.

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Where to take IFRS courses in Moscow?

If you decide to study IFRS and are looking for suitable courses to study, then start by testing your level of knowledge. Take the “Do you know IFRS” test for free and receive objective data on your preparation and useful recommendations. Its results will greatly help you in choosing the appropriate training program.

In 2016, there was a large surge in demand for financial specialists who are proficient in preparing financial statements under IFRS. At the same time, the level of wages has also increased sharply. Today, an accountant who knows international standards and knows how to apply them in the process of preparing financial statements earns 40-60% more than his colleague working according to RAS. And if his transformation skills are confirmed by a prestigious international qualification in accordance with IFRS, then the salary can exceed 100,000 rubles per month.

It is no secret that large companies whose securities are traded on the stock market, as well as organizations engaged in insurance and credit activities, are required to submit reports in accordance with IFRS. The trend is that by 2017 these changes in the accounting and reporting system will be applicable to all medium and small businesses in Russia. Consequently, today, knowledge of IFRS is a strong competitive advantage, which tomorrow will become the main requirement when hiring.

According to the results of a study conducted among accountants and financial specialists in Moscow, only 3% of respondents are familiar with international standards. 10% periodically encounter IFRS in their work, but for now they apply them under the strict supervision of more competent colleagues. But 17% of accountants reported that they do not know IFRS at all and do not intend to study them in the near future. But the majority of survey participants (70%) are not yet able to keep records according to IFRS, but are seriously aiming to acquire these skills in 2017. In their opinion, the best training can be provided by professional organizations and training centers that produce internationally certified specialists.

"IFRS. Basis" is an online course that will allow you to acquire a strong knowledge base on international financial reporting standards and learn how to effectively apply it in practice. After passing it, you will be able to receive an international British IPFM diploma.

Duration of the program: access is open up to 90 days (60 academic hours).

Take the 1st module of the “IFRS.Basis” course for free to evaluate the training format and make sure that it suits you in all respects.

“ACCA DipIFR (rus)” is a practical course for specialists familiar with the theoretical basis of IFRS and aimed at obtaining the ACCA DipIFR (rus) diploma. The program includes both the study of the theoretical aspects of IFRS and intensive practice of the tasks of the upcoming exam. Course teachers are IFRS specialists, holders of ACCA DipIFR (rus) diplomas and a full ACCA Qualification certificate.

Training format: distance learning (webinars + electronic handouts + personal support from a tutor + testing + independent work + final online exam).

Duration of the program: access is open up to 120 days (80 academic hours).

Get free access to the 1st module of this course to understand the training system and become familiar with its program!

RANEPA under the President of the Russian Federation. Graduate School of Finance and Management

Course: “IFRS. Preparation and presentation of corporate financial statements.”

Training format: full-time/modular system (2 times a month on Saturdays).

Duration of the program: 6 months.

Cost: 80,000 rubles.

Education Center "ELKOD"

Course: “IFRS under the IPBR program (Theory + Practicum)”

Duration of the program: 160 ac. hours.

Cost: 32,000 rub.

Training Center "Specialist" at MSTU. N.E. Bauman.

Course 1: “International Financial Reporting Standards (IFRS): Basic Course.”

Training format: full-time (2-3 times a week/weekdays from 18.00 to 21.45).

Duration of the program: 40 ac. hours.

Cost: from 20,990 rub.

Course 2: “Preparation for the ACCA exam to obtain a diploma in IFRS DipIFR (rus).”

Training format: full-time.

Duration of the program: 48 ac. hours.

Cost: from 29,990 rub.

Educational and Methodological Center "Accounting and Auditing" National Research University Higher School of Economics

Course: “Practice of application of international financial reporting standards”

Training format: full-time.

Duration of the program: 114 ac. hours.

Cost: 40,500 rub.

Institute for Professional Retraining of Specialists National Research University Higher School of Economics

Course: “Advanced level. International Financial Reporting Standards".

Training format: distance learning.

Duration of training: 2.5 months.

Cost: 19,000 rub.

HOCK Training

Course 1: “Basic course in IFRS.”

Training format: full-time.

Duration of the program: 24 ac. hours.

Cost: 19,900 rub.

What is IFRS? Today, many countries around the world use the International Financial Reporting System or, as it is also called, International Accounting. IFRS requires completely new knowledge and work skills.

IFRS training. Where can you study and get confirmation of your qualifications and knowledge?

Moscow Higher School of Economics and offers IFRS courses. You will receive all the necessary knowledge in full. Studying IFRS at the Moscow Higher School of Economics is also a guarantee of successfully passing the exam for international qualifications, such as ICFM, ACCA DipIFR (DipIFR). Purpose of the course:

• studying the basics of financial accounting of income, expenses, assets, liabilities, capital according to IFRS;
• familiarization with the general principles of preparing financial statements under IFRS;
• mastering the practical mechanism for transforming financial reporting items into the IFRS format.

Our IFRS courses are a balanced combination of theory and practical exercises. During the lesson, students will be offered self-tests and practical tasks to consolidate theoretical knowledge.

Course audience

It is designed for:

• accountants of enterprises oriented to the international market;
• financial managers and analysts;
• auditors, economists, etc.;

During the courses you will learn the difference between International Financial Reporting Standards and national standards. Our domestic standards originate precisely from IFRS and in many ways simply duplicate them. IFRS courses are a great way to improve your skills. After training you will receive a corresponding certificate.

IFRS courses: what are their advantages?

International standards training is in great demand among financial professionals around the world. With the help of our lectures, you have the opportunity to obtain qualifications as an international accountant, which will help you:

• effectively conduct financial analysis of the organization’s activities to make informed management decisions;
• prepare financial statements for foreign and Russian investors and partners in accordance with the requirements of international standards;
• understand the priorities of the accounting policies of foreign companies, the psychology of accounting and its internal logic;
• improve the image of your organization when entering foreign markets.

Unlike other educational centers, courses at the Moscow Higher School of Economics are the most affordable - flexible and loyal prices, discount program. Classes are taught by practical teachers with experience.