Duration 4 days
100% positive reviews
0 student
Assessments: Yes
Language English
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Skill level: All levels
In the ever-evolving retail landscape, compliance with International Financial Reporting Standards (IFRS) is crucial for transparent and accurate financial reporting. The IFRS for Retail Businesses course is tailored to equip finance professionals in the retail sector with the skills needed to navigate the complexities of IFRS. Over the course of 4 days, participants will delve into key standards such as IFRS 15 for revenue recognition, IAS 2 for inventory management, and IFRS 9 for financial instruments. With a course fee of ₦250,000, this training will empower participants to enhance their financial reporting practices, ensuring compliance and strategic decision-making in their organizations.
Description
Curriculum
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Retail businesses face unique financial challenges, from revenue recognition on sales transactions to managing vast inventories of products. This course covers the application of key IFRS standards specifically tailored for retail operations, helping participants understand the financial reporting implications of their business activities. Participants will learn how to apply IFRS 15 to recognize revenue from sales, IAS 2 for inventory valuation, and IFRS 9 for managing financial instruments. By the end of this course, finance professionals in the retail industry will be better prepared to ensure compliance with global financial regulations and contribute to strategic financial planning.
This course is ideal for accountants, financial managers, controllers, auditors, and CFOs in retail organizations. It caters to both experienced professionals and those new to IFRS in the retail context.
Course Objectives
By the end of this course, participants will be able to:
Apply IFRS 15 to recognize revenue from retail sales, including online and offline transactions.
Implement IAS 2 to account for inventory management, including cost formulas and inventory write-downs.
Understand IFRS 9 for managing financial instruments relevant to retail operations, such as receivables and payables.
Apply IFRS 16 to understand lease accounting for retail spaces and the implications for balance sheets.
Analyze and prepare financial statements in compliance with IFRS, ensuring accurate representation of the retail business.
Stay updated on recent IFRS developments that impact the retail sector, including changes in revenue recognition and inventory accounting.
Personal Impact
Gain a comprehensive understanding of IFRS standards critical to retail businesses, enhancing your financial acumen.
Equip yourself with the knowledge to ensure compliance with global financial regulations, making you an asset to your organization.
Improve your ability to manage and report on inventory effectively, which is crucial for retail operations.
Enhance your skills in recognizing revenue from diverse retail transactions, including online sales.
Position yourself as a knowledgeable professional in the retail sector, ready to tackle the financial challenges of a rapidly changing industry.
