IFRS and Oracle Applications Program

Learning and holding CertIFR (Certificate in International Financial Reporting) and Oracle Applications program 

This financial reporting program offers:

• A broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS).
• Teaching by breaks down specific standards topic-by-topic, using case studies, which are based on real-life examples, and many exercises, multiple-choice questions and sample answers for you to test your knowledge as you progress through the course.
• Basic Oracle Applications

Course objectives

• to help you understand how International Financial Reporting Standards (IFRS) are used around the world
• to explain how the International Financial Reporting Standards Foundation (IFRSF) / International Accounting Standards Board (IASB) work and how these are being changed
• to examine the fundamental requirements of IFRS on a standard-by-standard basis
• to provide guidance on how to use IFRS in practice.

Who is it for?

If you are a professional accountant or auditor, qualified in accordance with your national accounting standards, then this is the qualification for you. You do not need to have any experience or formal qualifications in accounting and auditing to apply for this certificate.

Exam

The certificate is assessed by a one—hour exam with multiple-choice questions.

The syllabus

1. The nature and operations of the IASB

Structure of the IFRSF/IASB

Extant standards of the IASB

The framework.

2. The status and use of IFRSs around the world

The use of IFRS around the world

The IASB roadmap

The annual IASB bound volume and its use.

3. Presentation and profit

IAS 1, Presentation of financial statements

IFRS 15, Revenue from contracts with customers

IAS 8, Accounting policies, changes in accounting estimates and errors.

4. Accounting for assets and liabilities – part 1

IAS 16, Property, plant and equipment

IAS 38, Intangible assets

IAS 40, Investment Property

IAS 36, Impairment of assets

IAS 23, Borrowing costs

IAS 20, Accounting for government grants and disclosure of government assistance

IAS 2, Inventories

IAS 17, Leases

IFRS 5, Non-current assets held for sale and discontinued operations

5. Accounting for assets and liabilities – part 2

IFRS 13, Fair Value Measurement

IFRS 32, Financial instruments – presentation

IFRS 9, Financial instruments

IFRS 7, Financial instruments: disclosures

IFRS 2, Share-based payment

IAS 37, Provisions, contingent liabilities and contingent assets

IAS 10, Events after the reporting period

IAS 19, Employee benefits

IAS 12, Income taxes

IAS 41, Agriculture

IFRS 6, Exploration for and evaluation of mineral resources.

6. Group accounting

IFRS 10, Consolidated Financial Statements

IAS 27 (revised 2011), Separate financial statements

IFRS 3, Business Combinations

IAS 28 (revised 2011), Investments in associates and joint ventures

IFRS 11, Joint arrangements

IFRS 12, Disclosure of interests in other entities

IAS 21, The effects of changes in foreign exchange rates

IAS 29, Financial reporting in hyperinflationary economies.

7. Disclosure standards

IAS 7, Statement of cash flows

IAS 24, Related party disclosures

IAS 33, Earnings per share

IAS 34, Interim financial reporting

IFRS 4, Insurance contracts

IFRS 1, First time adoption of IFRS

IFRS 8, Operating segments.

8. Principal differences between UK/US GAAP and IFRS
9. Proposals for change

Second face of program: Oracle Applications

Introduction to Oracle Applications Footprint

Navigating in Oracle Applications

• Logging into and logging off from Oracle Applications
• Accessing Responsibilities
• Using forms & menus
• Data Flow Across Oracle Applications
• Entering data using forms
• Retrieving, Editing and Deleting records
• Accessing Online Help
• Running reports and programs
• Introduction to Multiple-Organization and Multiple- Organization Access control (MOAC)

General Ledger

Accounting Structure

• Understanding the General Ledger Functions and Features
• Accounting Setups – Periods
• Accounting Setups – Currency
• Accounting Setups – Chart of Accounts
• Accounting Setups – Ledger

Summary Accounts

• Understanding how Summary Accounts are used in General Ledger
• Defining Rollup Groups for Creating Summary Accounts

Accounting Transactions

• Creating Manual Journal Entries
• Posting Journal Entries
• Entering Foreign Currency Journals
• Creating Reversing Journals (Manual / Automatic)
• Creating Recurring Journals
• Performing Accounting Inquiries
• Opening and Closing Financial Periods.

Financial Reporting

• Identifying Financial Reporting Across the General Ledger Business Process
• Understanding Basic Report Building Concepts
• Understanding the Financial Statement Generator
• Generating Financial Reports using the Standard Request Submission Form

Payables

• Describing the Procure to Pay Process Flow
• Overview of Payables Processes
• Understanding Supplier Entry
• Understanding Invoice Entry
• Understanding Payments
• Defining Supplier and Supplier Sites
• Entering Invoices and Invoice Distributions
• Validating Invoices
• Applying and Releasing Holds on Invoices
• Entering Payments
• Creating, Applying, and Releasing Holds on Prepayments
• Payables Period Closing

Receivables

• Describing the overall Order to Cash Process
• Defining the Features to Enter and Maintain Party and Customer Account Information
• Creating and Maintaining Party and Customer Account Information
• Enabling Customer Account Relationships
• Entering and Completing Invoices
• Correcting Invoices
• Describing the Receipt Process
• Applying Receipts
• Payables Period Closing

Cash Management

• Describing the bank account model
• Defining banks
• Defining bank branches
• Creating bank accounts
• Creating a bank transfer
• Entering and importing bank statements
• Reconciling bank statements manually and automatically

 Dates and fees

• Number of lectures 12
• Duration    48 hours
• Assessment for the Certificate in IFRS at a cost of £130 each.