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International Financial reporting Standard (ifrs) for Small and medium Entities (sme's)

Introduction

The International Accounting Standards Board (IASB) was set up in 2001 to lay down principles for identification, recognition, measurement, presentation, and disclosure
of the elements of financial statements of all profit oriented entities in the form of International Financial Reporting Standards
(IFRSs). IASB is committed to making available high quality, transparent, and comparable
information to participants in the capital markets of the world and other users for making economic decisions. Harmonisation of financial reporting has become an important agenda in many countries as part of their
reform process and in about 110 jurisdictions globally the IFRSs is either required or permitted. Considering that around the world
SMEs comprise more than 90% of all firms and employ substantial workforce in any country, and with a view to make it easy for these
entities to adopt a high quality accounting principles, the IASB issued IFRS for SMEs in July, 2009 as a separate document. For this
purpose SME’s are defined as entities that are not listed but have to report to external users that includes existing and potential
creditors, and credit rating agencies.

Objectives
By the end of the programme, the participants
will be able to:

* Develop a deeper understanding of the conceptual framework for preparation and
presentation of financial statements in the context of the IFRS for SMEs

* Effectively apply the rules of measurement and reporting for various important
business events
* Appreciate the differences among full IFRSs, Indian GAAP, and this standard
* Devise a plan for making a smooth transition from Indian GAAP

Contents
The programme will cover the following topics:

Module 1 - Introduction

A. IFRS/IASB - An Overview
B. Objective and framework for preparing and presenting financial statements
C. SMEs
D. Transition-first time adoption

Module 2 - Financial Statements

A. Financial Statement Presentation -Stand Alone & Consolidated Financial Statement Presentation -Currency

Module 3-Assets, Liabilities and Equity

A. Assets, including Financial Liabilities
I. Tangible Assets:
* Property, Plant & Equipment
* Inventory
* Investment Property
II. Intangible Assets
III.Financial Assets & Liabilities
B. Liabilities
I. Provisions & Contingencies
II. Leases
C. Equity

Module 4 - Comprehensive Income

A. Revenues and Gains - Sale of goods & rendering of services, Interest, Other Incomes
B. Expenses and Losses including Borrowing Costs
C. Other Comprehensive Income Pedagogy
The programme will be conducted using case studies, discussions and team work.

Programme Charges:

Residential: Rs.60,000/-
Non-residential: Rs.58,000/-

Padmini Srinivasan, S Sundararajan

Two or More Day Programme

Bangalore

From 06-Sep-2010 To 09-Sep-2010

Indian Institute of Management Bangalore

A 100-acre oasis in south Bangalore, the Indian Institute of Management Bangalore (IIMB), with its all-stone architecture, lush verdant woods and landscaped gardens provides an idyllic environment to engage in management studies, academics and learning. IIMB has world-class infrastructure that facilitates excellence in teaching, research, consulting and other professional activities.

Located in India’s high technology capital, IIMB is in close proximity to some of the leading corporate houses in the country, ranging from information technology to consumer product companies, giving it the added advantage of integrating classroom knowledge with practical experience.

Established in 1973, the Institute has since then built on its base of highly accomplished faculty, world class infrastructure and motivated student body to emerge as one of the premier institutes for management education and research promoting managerial excellence in the country. IIMB strives to achieve excellence through partnerships with industry, and leading academic institutions, the world over. IIMB's mission is to "build leaders through holistic, transformative and innovative education."

Indian Institute of Management Bangalore
Bannerghatta Road, Bangalore, India
Pin Code: 560 076
Phone Number: +91-80-26582450 / 26993996
Fax Number: +91-80-26584050 / 26584004 / 26584181 / 26581602
E-mail: info@iimb.ernet.in
web:- http://www.iimb.ernet.in/