IFRS Fundamentals for Finance Professionals Training

The Foundational IFRS Grounding Every Finance Professional Needs

Platform:

Online

In-class

Date	Venue	Duration
05 - 09 October 2026	Sandton, Gauteng	5 Days
23 - 27 November 2026	Sandton, Gauteng	5 Days

Course Introduction

Prospen’s standard-specific IFRS courses — including IFRS 9, IFRS 15, IFRS 16 and IFRS 17 — assume a working foundation in accounting. This course provides that essential entry point: a plain-language grounding in the IFRS Conceptual Framework, financial statement presentation (including the transition from IAS 1 to IFRS 18, effective for periods beginning on or after 1 January 2027), and recognition and measurement fundamentals, for junior finance staff, career-changers and non-specialists.

Participants will leave able to read and interpret IFRS-based financial statements, identify which standards apply to a given transaction, and progress confidently into Prospen’s specialist IFRS 9, IFRS 15, IFRS 16 or IFRS 17 programmes.

Course Objectives

By the end of this IFRS Fundamentals for Finance Professionals Training course, participants will be able to:

Explain the purpose, structure and underlying principles of IFRS Accounting Standards
Describe the respective roles of the IFRS Foundation and the International Accounting Standards Board (IASB) in global financial reporting
Understand how IFRS Accounting Standards are developed, amended and maintained
Navigate the core financial statements and understand current and forthcoming presentation requirements
Apply foundational recognition and measurement principles across common transaction types
Identify which IFRS Accounting Standards apply to different transactions and industry contexts
Distinguish between full IFRS Accounting Standards, IFRS for SMEs and local GAAP-based reporting frameworks
Read and interpret IFRS-based financial statements with greater confidence
Identify relevant IFRS updates and determine when new or amended requirements become effective

Course Benefits

A Clear IFRS Entry Point: Gain the foundational grounding required before progressing into more technical, standard-specific IFRS courses.
Plain-Language Learning: Understand IFRS through practical explanations and worked examples rather than unnecessary technical jargon
Confident GAAP-to-IFRS Transition: Develop a clearer understanding of how IFRS-based reporting differs from local or jurisdiction-specific accounting frameworks
Know Where to Look: Learn how to determine which standards apply to particular transactions and where to find authoritative IFRS guidance
Current IFRS Awareness: Understand how to distinguish requirements currently in force from newly issued or forthcoming requirements, including the transition from IAS 1 to IFRS 18

Who should attend?

Junior Accountants and Finance Officers New to IFRS
Finance Staff Transitioning from Local GAAP-Based Reporting to IFRS
Non-Accounting Professionals Who Need to Interpret IFRS-Based Financial Statements
Professionals Preparing for Prospen’s More Advanced IFRS 9, IFRS 15, IFRS 16 or IFRS 17 Courses

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

Module 1: Introduction to IFRS and the Conceptual Framework

Why global accounting standards exist and the reporting problems they are designed to address
Purpose and structure of IFRS Accounting Standards
The IFRS Conceptual Framework and its core principles
Objective of general-purpose financial reporting
Qualitative characteristics of useful financial information
Elements of financial statements
How the Conceptual Framework underpins individual IFRS Accounting Standards

Module 2: The IFRS Foundation, IASB and Global Standard-Setting

Structure and role of the IFRS Foundation
Role and responsibilities of the International Accounting Standards Board
How new IFRS Accounting Standards and amendments are developed
Understanding exposure drafts, amendments, effective dates and transition requirements
IFRS adoption and application around the world
Understanding the distinction between full IFRS Accounting Standards, IFRS for SMEs and local reporting frameworks
Where to find and how to navigate authoritative IFRS guidance
Keeping track of current standards and future changes

Module 3: Presentation of Financial Statements — IAS 1 and Transition to IFRS 18

Purpose and components of a complete set of financial statements
Statement of financial position
Statement of profit or loss and other comprehensive income
Statement of changes in equity
Statement of cash flows
Notes and supporting disclosures
IAS 1 presentation principles applicable during the transition period
Current and non-current classification fundamentals
Introduction to IFRS 18 Presentation and Disclosure in Financial Statements
Transition from IAS 1 to IFRS 18
New defined subtotals in the statement of profit or loss under IFRS 18
Introduction to management-defined performance measures
Improved principles for aggregation and disaggregation of financial information
Common financial statement presentation errors and how to avoid them
IFRS 18 replaces IAS 1 for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted.

Module 4: Recognition and Measurement Fundamentals

Understanding assets, liabilities, equity, income and expenses
Recognition principles within the IFRS Conceptual Framework
Derecognition fundamentals
Measurement bases used in IFRS Accounting Standards
Historical cost
Current value and fair value concepts
Applying recognition and measurement principles to common transactions
Understanding the role of estimates, assumptions and professional judgement
Common recognition and measurement mistakes made by new practitioners

Module 5: Common IFRS Accounting Standards in Practice — An Overview Tour

Overview of the IFRS Accounting Standards most finance professionals encounter in day-to-day reporting
Inventories
Property, plant and equipment
Intangible assets
Impairment of assets
Revenue recognition
Leases
Financial instruments
Provisions and contingent liabilities
Income taxes
Statement of cash flows
Events after the reporting period
Fair value measurement
Understanding how individual standards interact with the Conceptual Framework
Recognising recent amendments and determining whether they affect an organisation
Introduction to IFRS 19 Subsidiaries without Public Accountability: Disclosures and where it may apply
Building a personal reference map of the standards relevant to your role
IFRS 19 allows eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosure requirements and becomes effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted.

Module 6: Industry-Specific Standards and Where They Apply

Recognising when a transaction falls within a specific IFRS Accounting Standard
Understanding when IFRS 9 Financial Instruments applies
Understanding when IFRS 15 Revenue from Contracts with Customers applies
Understanding when IFRS 16 Leases applies
Understanding when IFRS 17 Insurance Contracts applies
Industry contexts in which specialist standards have greater significance
Recognising other specialised requirements relevant to particular industries and transactions
Why the Conceptual Framework remains important when applying specialist standards
Knowing when specialist technical guidance or further training is required

Module 7: Navigating the IFRS Landscape and Preparing for Deeper Study

Mapping IFRS Accounting Standards across a typical organisation
Building confidence to read and interpret unfamiliar standards
Understanding how IFRS requirements, amendments and effective dates are organised
Distinguishing between standards currently effective and requirements issued for future application
Monitoring IASB developments and maintaining current IFRS knowledge
Understanding where IFRS for SMEs may apply
Awareness of the updated third edition of the IFRS for SMEs Accounting Standard
Identifying the appropriate specialist IFRS training for your role
Building a structured personal IFRS development pathway
Progressing into IFRS 9, IFRS 15, IFRS 16 or IFRS 17 specialist training
The third edition of the IFRS for SMEs Accounting Standard was issued in 2025 and becomes effective for annual periods beginning on or after 1 January 2027, with earlier application permitted.

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uMngeni-uThukela Water

IFRS Updates Trainings

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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Financial Analysis, Modelling and Forecasting

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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FAQs – IFRS Fundamentals for Finance Professionals Training

Master foundational International Financial Reporting Standards, key measurement and recognition criteria, financial statement presentation rules, and essential disclosure requirements to ensure accurate, standard-compliant financial reporting.

What topics are covered in the IFRS Fundamentals for Finance Professionals course?

The course covers the core IASB Conceptual Framework, essential presentation standards (IAS 1 & IAS 7), core asset accounting standards (IAS 16, IAS 38, IAS 40), revenue recognition fundamentals (IFRS 15), lease accounting principles (IFRS 16), and basic financial instrument concepts (IFRS 9).

Who should attend this IFRS fundamentals training?

This training is designed for early-to-mid-career accountants, finance managers, financial analysts, audit associates, credit analysts, and corporate reporting teams looking to build a rock-solid operational foundation in International Financial Reporting Standards.

What are the key learning objectives of this foundational IFRS course?

Delegates learn to navigate the IFRS standards hierarchy, prepare compliant financial statements, account accurately for tangible and intangible assets, apply core revenue and lease recognition models, and interpret financial notes with total confidence.

How long is the IFRS Fundamentals for Finance Professionals course?

The programme is delivered as an intensive 5-day practical workshop packed with step-by-step journal entry drills, financial statement disclosure exercises, and real-world accounting scenario analyses.

What practical skills will delegates gain from this masterclass?

Participants will gain hands-on skills in drafting statement of cash flows under both direct and indirect methods, calculating asset depreciation schedules, unbundling contract revenue components, and structuring audit-ready general ledger journal entries under IFRS.

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

Yes. Prospen Africa can tailor the curriculum to match your company’s specific chart of accounts, operational transaction types, internal reporting guidelines, and industry sector focus.

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IFRS Fundamentals for Finance Professionals Training

The Foundational IFRS Grounding Every Finance Professional Needs

Course Introduction

Course Objectives

Course Benefits

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 Fundamentals for Finance Professionals Training

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