IFRS Accounting Principles Masterclass

A Comprehensive Overview of IFRS, Tax Legislation, and the Companies Act

Platform:

Online

In-class

Date	Venue	Duration
16 - 20 November 2026	Sandton, Gauteng	5 Days

Course Introduction

This Prospen Accounting training delves into the requirements of the IFRS, Tax legislation, and the South African Companies Act, International Financial Reporting Standards. It also explores the requirements of the Accounting conceptual framework and the controls needed to ensure compliance with the Companies Act, Tax legislation, and accounting standards. Delegates should have a basic background in accounting to understand these requirements and legislative mandates.

Prospen Africa’s IFRS Accounting Principles Masterclass training course will focus on the practical application of IFRS, Tax, and the Companies Act across various industry sectors. The Masterclass provides updates on recently released standards and tax legislation amendments that will impact future periods. It is specifically designed for those in accounting, reporting, and/or controlling areas within accounting and finance.

Course Objectives

Upon completing this masterclass, participants will enhance their knowledge, understanding, and analytical skills in IFRS, Tax legislation, and the Companies Act, with the following benefits:

Understand newly issued standards — including IFRS 18 and IFRS 19 — along with IASB projects, and their impact on financial statements
Understand the accounting for income tax and value added in financial statements, including deferred tax effects
Understand the Companies Act legislation to ensure compliance
Understand basic controls to ensure compliance with standards and legislative requirements
Understand the practical implementation of more complex standards
Understand disclosure and accounting requirements in financial reporting of a group of companies
Understand practical implications of using IFRS in specific industries, including mining, financial services, and public interest entities
Understand sustainability-related disclosure requirements under IFRS S1 and S2

Who should attend?

Accounting Professionals
Finance Executives
Financial Managers (Tax & Reporting)
Bookkeepers
Accounting Clerks
Internal Auditors

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: Foundation, Conceptual Framework, and Presentation

Module 1: Introduction to IFRS

History and evolution of IFRS; IASB and IFRS Foundation; due process; IFRS hierarchy; IFRIC Interpretations; global adoption; benefits and challenges

Module 2: Conceptual Framework for Financial Reporting

Objective, users, qualitative characteristics, elements, recognition, derecognition, measurement, capital maintenance; practical case study

Module 3: Financial Statement Presentation (IAS 1 / IFRS 18 Transition)

Complete set of financial statements; Statement of Financial Position, Profit or Loss, Changes in Equity, Cash Flow, Notes

Module 4: IFRS 18 – Presentation and Disclosure in Financial Statements (NEW)

Replacement of IAS 1; new operating profit subtotal; profit before financing and taxes; income/expense categories; MPMs; aggregation/disaggregation; practical workshop redesigning financial statements

Module 5: Accounting Policies and Estimates (IAS 8)

Selection and changes in accounting policies; changes in estimates; error corrections; retrospective vs. prospective application

Day 2: Asset Accounting, Inventories, Revenue, and Financial Instruments

Module 6: Property, Plant and Equipment (IAS 16)

Recognition, initial and subsequent measurement, revaluation model, component accounting, depreciation, derecognition

Module 7: Borrowing Costs (IAS 23)

Capitalisation principles, qualifying assets, practical calculations

Module 8: Investment Property (IAS 40)

Fair value model, cost model, transfers

Module 9: Intangible Assets (IAS 38)

Recognition, research vs. development, useful lives, amortisation, internally generated assets

Module 10: Impairment of Assets (IAS 36)

Impairment indicators, recoverable amount, value in use, CGUs, reversal of impairment

Module 11: Inventories (IAS 2)

Cost formulas, NRV, inventory write-downs, manufacturing costs

Module 12: Revenue Recognition (IFRS 15)

Five-step model, performance obligations, variable consideration, contract modifications, principal vs. agent; industry cases: construction, telecommunications, mining, retail

Module 13: IFRS 9 Financial Instruments

Classification and measurement (amortised cost, FVOCI, FVTPL); ECL model, stages 1-3; hedge accounting (fair value, cash flow, net investment)

Module 14: IFRS 7 Disclosures

Credit risk, liquidity risk, market risk, sensitivity analysis

Day 3: Liability Accounting, Lease Accounting, and Group Accounting

Module 15: Provisions and Contingencies (IAS 37)

Provisions, contingent liabilities, contingent assets, onerous contracts

Module 16: Employee Benefits (IAS 19)

Short-term benefits, post-employment benefits, defined contribution and defined benefit plans

Module 17: Income Taxes (IAS 12)

Current tax, deferred tax, temporary differences, tax rate reconciliation

Module 18: IFRS 16 Leases

Lessee accounting (right-of-use assets, lease liabilities); lessor accounting (finance/operating leases); sale-and-leaseback, variable payments, modifications

Module 19: Business Combinations (IFRS 3)

Acquisition method, fair value adjustments, goodwill, bargain purchases

Module 20: Consolidated Financial Statements (IFRS 10)

Control assessment, consolidation procedures, NCI, intragroup eliminations

Day 4: Group Accounting, Specialised Topics, and Industry Applications

Module 21: Joint Arrangements (IFRS 11)

Joint operations, joint ventures

Module 22: Associates (IAS 28)

Equity accounting, significant influence

Module 23: Related Party Disclosures (IAS 24)

Identification, disclosure requirements

Module 24: Foreign Currency Accounting (IAS 21)

Functional currency, foreign operations, translation adjustments

Module 25: Fair Value Measurement (IFRS 13)

Fair value hierarchy, valuation techniques, market approach, income approach

Module 26: Share-Based Payments (IFRS 2)

Equity-settled schemes, cash-settled schemes, modifications

Module 27: Non-Current Assets Held for Sale (IFRS 5)

Classification, measurement, discontinued operations

Module 28: Mining Sector IFRS

Exploration and evaluation, rehabilitation provisions, impairment, revenue complexities

Day 5: Industry Applications, Emerging Developments, and Capstone

Module 29: Financial Services IFRS

ECL modelling, financial instruments, regulatory disclosures

Module 30: Public Interest Entities

ESG reporting, sustainability reporting linkages, governance disclosures

Module 31: IFRS 19 – Subsidiaries Without Public Accountability (NEW)

Scope and eligibility, reduced disclosure framework, relationship with full IFRS, cost-benefit considerations, implementation challenges; practical application: determining IFRS 19 eligibility

Module 32: Sustainability Reporting and IFRS S1 & S2

IFRS S1 general sustainability disclosures; IFRS S2 climate-related disclosures, climate risk assessment, transition planning, governance requirements

Capstone Case Study: IFRS Financial Statement Preparation Project

Statement of Financial Position, Statement of Profit or Loss, Cash Flow Statement, Notes, consolidation adjustments, IFRS 18 presentation disclosures, sustainability disclosure extracts

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uMngeni-uThukela Water

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What made the sessions exceptionally helpful was the deliberate focus on actionable strategies rather than just high-level concepts. The structured approach kept the content engaging. It was a highly impactful professional development experience.

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It has been a really fruitful and helpful training. Many thanks to PROSPEN AFRICA and the facilitator Olufemi. This is definitely going to make my work life easier and meaningful.

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The course really taught us deep in to Payroll and made us aware of things we were not aware of.

Telekom Networks Malawi PLC

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The training was very insightful and the facilitator was very engaging which made everything easier to understand and follow. It has really equipped us in our areas of lack and we feel confident now on our next assignments on forecasts and analysis

Magalies Water

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The course was practical, informative and relevant

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FAQs – IFRS Accounting Principles Masterclass

Master core International Financial Reporting Standards, key measurement principles, technical presentation frameworks, and complex disclosure requirements to prepare compliant, audit-ready financial statements across diverse industries.

What topics are covered in the IFRS Accounting Principles Masterclass?

The masterclass covers the Conceptual Framework for Financial Reporting, key standards including IAS 1 (Presentation), IAS 16 (PPE), IFRS 16 (Leases), IFRS 9 (Financial Instruments), IFRS 15 (Revenue), IAS 36 (Impairment), and recent IASB updates.

Who should attend the IFRS Accounting Principles Masterclass?

This training is designed for chief accountants, financial controllers, finance directors, internal and external auditors, financial analysts, and corporate reporting managers seeking a comprehensive and practical update on global accounting standards.

What are the key learning objectives of this IFRS masterclass?

Delegates learn to apply complex IFRS standards correctly, resolve technical accounting issues, prepare compliant annual financial statements, execute transition adjustments, and communicate financial impacts clearly to key stakeholders.

How long is the IFRS Accounting Principles Masterclass?

The programme is delivered as an intensive 5-day technical masterclass featuring hands-on case studies, practical journal entry workshops, and real-world financial statement disclosure analysis.

What practical skills will delegates gain from this masterclass?

Participants will gain practical skills in unbundling complex transactions under IFRS, constructing audit-proof accounting disclosures, modeling lease schedules, assessing asset impairment indicators, and evaluating financial instrument classifications.

Can Prospen Africa deliver this course as customized in-house training?

Yes. Prospen Africa can tailor the masterclass to focus on specific standards most relevant to your organization's industry sector, current accounting challenges, and internal reporting requirements.

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IFRS Accounting Principles Masterclass

A Comprehensive Overview of IFRS, Tax Legislation, and the Companies Act

Course Introduction

Course Objectives

Who should attend?

Training Methodology

Training Outline

Our Categories

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Success Stories

IFRS Updates Trainings

Financial Analysis, Modelling and Forecasting

Mastering Payroll Preparation, Analysis, and Management

Financial Analysis, Modelling and Forecasting

GRAP training

FAQs – IFRS Accounting Principles Masterclass

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