International Financial Reporting Standards for Compensation Professionals

• Gain an overview of the International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).
• 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.
• Learn key financial statements (such as income, financial position, cash flows and more) and the power of the notes that accompany accounts.
• Examine IAS 19 short- and long-term benefits, as well as post-employment and termination benefits.

This course is ideal for HR, payroll, and global rewards professionals who want to become more fluent in international accounting standards and key financial statements while understanding how these relate to short- and long-term employee benefits.

Global compensation is shaped by ever shifting international accounting standards and reporting requirements: Keep up with this critical information and ensure you and your financial peers are communicating clearly and using the same terms by gaining the insights provided in this course.

Financial Reporting Standards

• History
• IASB mission and objectives
• Benefits of moving to one set of standards
• IASB structure

Objectives of Financial Reporting

• Definition of accounting
• Objectives of financial reporting
• Users of accounting information
• Conceptual framework

Financial Statements

• Accrual accounting
• Four main financial statements

IAS 19: Employee Benefits

• Why have IAS 19?
• Changes
• Scope of IAS 19
• Types of employee benefits
• Accounting for short-term benefits
• Accounting for post-employment
• benefits
• Accounting for long-term benefits
• Accounting for termination benefits

Standards for Total Reward

Professionals

• What is IFRS 2
• Types of Long-Term Incentives
• Determination of Fair Value of Long-Term Incentive Instruments
• What Valuation Method should you use?