We provide an extensive programme of specialist courses for business and finance professionals. Our courses are suitable for every level of staff from new starters to specialists. All our courses are delivered in a practical, interactive workshop-style environment. We limit the number of attendees so we can deliver a more personal experience. We provide you with everything you need on the day – from comprehensive course materials to full refreshments. Our courses will provide a great learning experience!

IFRS 15 – Revenue from Contracts

This half day IFRS 15 – Revenue from Contracts training course provides an in-depth understanding of the requirements of IFRS 15 using a number of examples and exercises.

Revenue recognition has been at the heart of many accounting scandals, with huge inconsistencies between entities.  Hence IFRS 15 is a very detailed and comprehensive standard that aims to tighten up the accounting for revenue and improve comparability. Even where an entity’s results are not expected to change significantly, there is still a significant increase in the volume of disclosure required.

There are some significant decisions to be made when transitioning to IFRS 15, namely whether to take a fully retrospective or cumulative catch-up approach, how to make and control the many judgements & assumptions required in the accounting approach, and whether your systems can manage the on-going application and disclosure requirements.

IFRS 16 – Leases

This half day IFRS 16 leases training course provides a comprehensive look into IFRS 16 – Leases.

2019 hails the end to operating leases and off-balance sheet financing in the accounts of lessees.  The IASB expects one in two quoted companies to be affected by the introduction of IFRS 16, forcing them to bring approx. $3tn of leasing obligations on their balance sheets. This change in accounting will impact companies P&L profile, debt covenants and credit scores.

For existing finance leases, the standard will also bring changes, and increase the accounting complexity. Owing to the number of assumptions and estimates required by IFRS 16, ongoing annual maintenance of the accounting numbers will be significantly increased, especially for entities that have lease extension/termination options or variable lease payments.

How will companies identify all their leases and gather the data required to calculate the necessary adjustments on transition? Will the standard change decisions to buy rather than lease? These questions will be addressed as part of a detailed analysis of the requirements, using exercises and examples to enhance understanding.

IFRS 17 Insurance Contracts – How to do the numbers (Two day)

A central feature of our IFRS 17 two day training course is the working through of detailed exercises in order to convey a knowledge of “how to do the numbers” which can then be applied in practice. Discussion of the various inputs will then follow logically from this core working knowledge.

IFRS 17 changes fundamentally the way in which insurance contracts are accounted for over time. After investing 20 or so years of development effort into IFRS 17, the IASB expectation is that it will bring greater transparency about the profitability and financial position resulting from conducting insurance contract business.

Preparing for and implementing IFRS 17 is problematic and challenging, requiring considerable effort to gain an initial understanding of the impact on the reported numbers as well as identifying upgrades to processes and systems to ensure they can provide IFRS 17 compliant data.

Learning outcomes

By the end of the course participants will be able to:

  • Demonstrate a thorough working knowledge of the rules applied by IFRS 17
  • Articulate how the numbers are constructed and presented
  • Communicate to others the story that those numbers are telling
  • Appreciate the major differences between IFRS 4 and IFRS 17
  • Evaluate the method and timetable for transition to IFRS 17

IFRS 17 Insurance Contracts (Half day)

IFRS 17 changes fundamentally the way in which insurance contracts are accounted for over time. After investing 20 or so years of development effort into IFRS 17, the IASB expectation is that it will bring greater transparency about the profitability and financial position resulting from conducting insurance contract business.

Preparing for and implementing IFRS 17 is problematic and challenging, requiring considerable effort to gain an initial understanding of the impact on the reported numbers as well as identifying upgrades to processes and systems to ensure they can provide IFRS 17 compliant data.

This half day IFRS 17 (half day) training course will revolve around a numerical review of the basics of the general accounting model for insurance contracts followed by a consideration and discussion of the main areas of difficulty that in practice will arise in applying the model to insurance contracts.

Learning outcomes

By the end of the course participants will be able to:

  • Demonstrate a working knowledge of the basic elements of the general accounting model applied by IFRS 17
  • Articulate the key numbers that will be presented in the statements of profit or loss and financial position and how different they are to those under current practice
  • Communicate to others the story that the IFRS 17 numbers are telling
  • Explain the main areas of difficulty that will most likely arise in practice
  • Demonstrate the timetable for transition to IFRS 17 and the options permitted for achieving that

IFRS 17 Insurance Contracts (One day)

This IFRS 17 one day training course will commence with a review of the basics of the general accounting model for insurance contracts using a worked numbers example. This will be followed by a consideration of the main areas of difficulty that will arise in practice in applying the model to insurance contracts. These and the IFRS 17 solution to them will be illustrated (where appropriate) with further numbers examples which will be worked through interactively with the participants.

IFRS 17 changes fundamentally the way in which insurance contracts are accounted for over time. After investing 20 or so years of development effort into IFRS 17, the IASB expectation is that it will bring greater transparency about the profitability and financial position resulting from conducting insurance contract business.

Preparing for and implementing IFRS 17 is problematic and challenging, requiring considerable effort to gain an initial understanding of the impact on the reported numbers as well as identifying upgrades to processes and systems to ensure they can provide IFRS 17 compliant data.

Learning outcomes

By the end of the course participants will be able to:

  • Demonstrate a working knowledge of the basic elements of the general accounting model applied by IFRS 17
  • Articulate the key numbers that will be presented in the statements of profit or loss and financial position and how different they are to those under current practice
  • Communicate to others the story that the IFRS 17 numbers are telling
  • Explain the main areas of difficulty that will most likely arise in practice
  • Articulate the permitted modifications to the general model, in particular the premium allocation approach
  • Demonstrate the timetable for transition to IFRS 17 and explain the processes and pros and cons of the different options available.

IFRS Comprehensive Refresher – Day 1

The mutually exclusive two days of this course are designed to provide delegates with a thorough understanding of the accounting and financial reporting requirements of key IFRSs including an insight into the latest changes.  As the days are mutually exclusive, it is possible to book only one of the days. 

Day 1 is designed to provide delegates with a thorough understanding of the accounting treatment and financial reporting requirements of some of the most key standards. Topics are explained thoroughly and accompanied by illustrative examples throughout.

IFRS Comprehensive Refresher – Day 2

The mutually exclusive two days of this course are designed to provide delegates with a thorough understanding of the accounting and financial reporting requirements of key IFRSs including an insight into the latest changes. As the days are mutually exclusive, it is possible to book only one of the days.

The course is ideal for anyone in need of a thorough and up to date refresher of IFRS in a practical and relevant way. It might be that you have not dealt with the detail of IFRS for some time, or that you have been focusing on a few IFRS standards in your work place, necessitating a refresher and update in all of the key areas.

IFRS Group Reporting – A Comprehensive Primer

By the end of this course participants will be able to:

  • Analyse transactions with a view of identifying the status of interests in entities acquired by a group and be able to explain to others the impact of such transactions on the group structure and financial risk profile
  • demonstrate a working knowledge of how consolidations work following the relevant IFRS standards and the numbers that arise a result of the consolidation process
  • articulate the impact on the group financial statements of acquiring and disposing of interests in entities
  • appreciate the importance of the disclosure regime applied by IFRS 12 

IFRS Update – Including Revenue, Financial Instruments and Leasing

This IFRS Update  training course will bring you up to date with the changes to IFRS that have become effective over the past year and the new standards and key exposure drafts proposing changes for the future. It features an in-depth examination of IFRS 16, the leasing standard.

Implementing FRS 102 for Public Benefit Entities

Medium and large not-for-profit entities implemented FRS 102 for the first time during 2016. For many it has been a difficult transition. Some staff at such entities may find it useful to consider the finer detail of FRS 102, which will be covered in this course.

It is during 2017 that small entities will be forced to implement FRS 102, or a tailored version of it, for the first time. This course will go through the key accounting changes that public benefit entities such as charities and housing associations will need to implement as a result of the introduction of FRS 102. This will include transitioning to the FRS 102 SORP from the FRSSE SORP. The disclosure exemptions contained within Section 1A of FRS 102 will also be considered.

Influencing and Rapport Building Skills

Your ability to influence and build rapport will allow you to develop stronger and longer lasting relationships with colleagues and clients. Through an improved understanding and application of different communication styles, you will further develop the core skills that are essential to your role as a manager. You will gain insights into emotional intelligence and its role in persuading and influencing others. It is important to be able to demonstrate confidence and capability in handling challenging situations and challenging people in a variety of professional and personal situations.

Institutional Asset Management

This Asset Management Course is aimed at professionals working at banks, asset managers, insurance companies and especially lawyers and accountants in Financial Services. Many theoretical building blocks underpinning the history of investing have been sorely tested in recent years. Are markets ’Efficient’? Do we live in a statistically ‘Normal’ world? What happened to ‘Risk Free Rates of Return’ in the bond markets? These important issues will be addressed, from a practical perspective, to understand how today’s fund managers deal with such challenges at our Asset Management Course.

More about our courses

With our extensive programme of Accounting and Finance, Taxation, VAT, Governance, Risk and Compliance, Financial Markets and Corporate Treasury, and Charities courses, we can help improve the knowledge and efficiency of your entire team and keep you ahead of ever-changing regulations and developments.

You can easily ask questions and discuss scenarios relevant to your business or workplace. Our comprehensive courses aim to provide a thorough understanding of specific topic areas. As well as a range of refresher and update courses to assist you if you need to update your knowledge.

Whichever course you attend, our expert trainers have been carefully selected for their knowledge and experience. They deliver the courses from a practical perspective giving you the skills to enable you to use what you’ve learned back in the office. 

Onsite training – All courses can be run onsite and tailored to meet your specific training needs. We can also put together bespoke courses if you do not see anything that meets your requirements in our programme. Our trainers are specialists in their respective fields and deliver engaging and informative courses supported by relevant course materials. Find out more here.

If you have an enquiry regarding any one of our courses or you are interested in running a course onsite, our training team would be delighted to help. You can call us on 0844 873 2121 or by contacting us on courses@quorumtraining.co.uk.

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