Nigerian Seminars and Trainings

Search conferences, training, seminars, courses and workshops in Nigeria and around the world

business logo

IFRS Conversion Course

By: TSI Limited

Lagos State, Nigeria

26 - 31 May, 2014  6 days

Follow Event

  

Course Overview
According to the Federal Government IFRS Conversion Roadmap, entities in Nigeria are required to convert to IFRS between December 2012 and 2014. These entities have been categorized into 3 groups:
Entities with listed securities and those with government businesses e.g. NNPC
Unquoted or private entities which are of significant public interest because of their nature of business, size, number of employees or their corporate status which require wide range of stakeholders consultations
Small and Medium -size Enterprises (SME)
Despite the above mentioned deadline, most companies listed on the Nigerian Stock Exchange (NSE) and others with significant public interest as well as SMEs are still far behind in their implementation drive. “The implication of IFRS is that you have to go back 24 months before the cut-off date because you need comparative information. Which means since the regulator in Nigeria said the implementation will commence on January 1, 2012, companies will have to go back to January 1, 2010, to start with the closing balance.”
“The transition to IFRS involves the overhauling of a lot of things such as staff benefit, budgeting procedure, control, corporate governance, information technology, shareholding, benefit structure amongst others

Course Objectives
  • A hands –on practical demonstration of conversion from Nigerian GAAP to IFRS
  • Industry-by-Industry worked examples
  • Participants led pseudo conversion from Nigerian GAAP to IFRS
  • Exposure into the theoretical framework of IFRS
Course Outline
  • General Introduction to IFRS, Advantages, Challenges, All Concerned with IFRS etc.
  • Concepts and presentation
  • The IASB conceptual framework
  • IAS 1 - presentation of statements
  • IAS 10 - events after balance sheet
  • IFRS 5 - assets held for sale and discontinued operations
  • IAS 7 - cash flow statements
  • Policies and revenue
  • IAS 8 - accounting policies
  • IAS 18 - revenue
  • IAS 11 - construction contracts; revenue and work-in-progress
  • Inventory and property, plant and equipment
  • Group Account and International Standards
  • Conversion knitty gritty
Sizzler House, 33 International Airport Road, Ajao Estate, Lagos, Nigeria May 26 - 31 May, 2014
NGN650,000.00
(Convert Currency)

+1-646-202-8832, +2348033467639

Related Courses
Contract and Procurement Fraud - Auditing the Procurement Process Contract and Procurement Fraud - Auditing the Procurement Process

3 days, 14 - 16 Mar, 2018 

2018-03-14 12:03:00
Lagos State, Nigeria

TSI Limited

When establishing a management system, organizations have to put in place processes to control the purchasing of products (or services) and their verification. However, the way organizations consider ...

Managing Budgets Managing Budgets

3 days, 23 - 25 Jul, 2018 

2018-07-23 12:07:00
Lagos State, Nigeria

TSI Limited

To ensure effective financial management of a department or and even the entire organization, there is the need to ensure compliance with the approved budget while operational costs need to be ...

Reward Management Course Reward Management Course

3 days, 08 - 10 Oct, 2018 

2018-10-08 12:10:00
Lagos State, Nigeria

TSI Limited

Reward is a very important tool in motivating the workforce, hence the need for this training. Participants would be introduced to the total rewards model and each of its components. ...

Introduction to Corporate Social Responsibility Introduction to Corporate Social Responsibility

3 days, 07 - 09 May, 2018 

2018-05-07 12:05:00
Abia State, Nigeria

TSI Limited

The goal of this training course is to create awareness and advance knowledge about issues in business ethics and supply chain social responsibility. Through readings, discussions, mini-cases and ...