International Financial Reporting Standards for Compensation Professionals (T7)

Course

Learn the Language All Global Rewards Professionals Should Know

This course presents an introduction to International Financial Reporting Standards (IFRS). It will provide you with the understanding you need to interact effectively with accounting and finance departments in your company.

  • Explore an overview of IFRS and the International Accounting Standards Board (IASB).
  • Understand the objectives of financial reporting and how to identify and work with key stakeholders.
  • Determine how financial statements relate to your compensation and benefits work.
  • Examine International Accounting Standard 19 (IAS 19) short- and long-term benefits, as well as post-employment and termination benefits.

What You Will Learn

 

1. Introduction to the IASB and the IFRS

  • The objectives of the IASB
  • The structure of the standard setting body and sub-committees
  • The conceptual framework
  • The IAS and IFRS standards

2. Objectives of Financial Reporting

  • Relationship between the conceptual framework and stakeholders
  • Providing information to the stakeholders of the organization
  • Who are the stakeholders?

3. Financial Statements

  • Content of the key financial statements
    • Statement of financial position
    • Statement of income
    • Statement of other comprehensive income
    • Statement of cash flows
    • Notes accompanying the accounts - the true source of information

4. IAS 19 Purpose and Scope

  • Concept of accrual accounting
  • Basic principle that the cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable
  • How is this done?

5. IAS 19 Short-Term Employee Benefits

  • Definition
  • Types of short-term benefit
  • Benefits that accrue
  • Benefits that do not accrue
  • Profit sharing and bonus plans
  • Accounting treatment for short-term benefits
  • Practical examples of treatments

6. IAS 19 Types of Post Employment Benefit Plans

  • IAS 19 Features of a defined benefit plan
    • Calculating the liability of a defined benefit plan
    • Accounting treatment of a defined contribution plan
    • Practical examples of treatment
  • IAS 19 Features of a defined benefit plan
    • Calculating the liability of a defined contribution plan
    • Methods of calculation including the reliance on actuarial and financial assumptions
    • Discounted cash flow techniques. Issues to be addressed, such as what is the appropriate discount rate

7. IAS 19 Other long-term benefits

  • Accounting treatment of other long-term benefits
  • Benefits that are immediately expensed
  • Benefits that are accrued

8. IAS 19 Termination Benefits

  • Categories of benefits that qualify and the conditions that determine these categories
  • Determination of the conditions for a plan
  • Treatment of the benefits provision/payments

Learning Options

Classroom

On-site instructor-led delivery of course materials with the added value of face-to-face interaction with a subject-matter expert and peers.

Course and Certification Exam

Members: $1,495 USD

$2,200 USD

Course Only

Members: $1,390 USD

$2,085 USD

E-Learning

Self-paced online learning with access to pre-recorded course modules delivered by an instructor.

Print Option
60-Day Access
(course materials shipped within 7 business days)

Member: $1,350 USD

$1,880 USD

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Green Option
60-Day Access
(e-course materials available online immediately)

Member: $1,285 USD

$1,780 USD

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Please note: 60-day access to e-course material starts immediately on the day of purchase. Purchase includes course materials and exam.

Self Study

Independent learning with access to printed course materials and exam option.

Course Materials and Certification Exam

Members: $1,275 USD

$1,780 USD

Add to Cart
Certification Exam Only

Members: $875 USD

$1,130 USD

Add to Cart

Course Credits & Certifications

  • Recertification

    Course: 2 credits

    Exam: 0.5 credits

  • CEUs

    Course: 1.5 credits

    Exam: 0.3 credits

  • HRCI Recertification

    16 classroom hours

  • SHRM Recertification
    16 classroom hours

More Information

Who Should Register

This course is for those individuals pursuing their GRP or CCP Canada or for Human Resources and Compensation Professionals who have global responsibility for compensation and rewards programs for countries outside of the U.S.

How to Register

Test Your Knowledge

Challenge yourself by trying to answer actual test questions from one of our courses.

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Policies

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Have Questions?

Phone

+1 877 951 9191

USA and Canada

+1 480 951 9191

Other Countries

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