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IFRS and the Polish Accounting Act - the main differences

The process of introducing IFRS in the company is quite challanging. Difficulties are usually caused by the huge amount of knowledge that you need to apply in a relatively short period of time.
This training focuses on the essential differences faced mainly in the process of converting between national rules and IFRS. Issues less common, or not related to national economic realities are intentionally omitted.  Participants focus not only on the understanding and quantification of the differences, but also on the analysis of its impact on  the financial statements. The training focuses on the practical examples illustrating selected aspects numerical examples. 
  • For whom?
  • Objectives and advantages
  • Programme
  • Date and location
  • Price
  • Contact
  • Educational points/units
  • Download course programme in PDF

For whom? 

The training is intended for anyone interested in the subject of International Financial Reporting Standards. We address them, among others, to:
  • Financial directors, chief accountants and employees of financial departments responsible for the implementation of IFRS and subsequent reliable reporting in accordance with the above-mentioned standards,
  • Management staff responsible for financial reporting,
  • Financial controllers and controlling services, which are usually obliged to budget and interpret financial data,
  • Statutory auditors wanting to develop their skills related to IFRS-related issues, Analysts - in the scope of assessment and interpretation of information presented by companies,
  • People who already have knowledge of international reporting and want to systematize it in the context of differences from national regulations. 

Objectives and advantages 

  • The training has a workshop character: it combines various trainer presentation techniques with the participants' own work.
  • Intensive and practical: each of the rules is richly illustrated with numerical examples.
  • A unique training program based on experience in working with key entities in the implementation of IFRS. 

It is possible to organize a in-house training course on the individual customer's order. 


Comparison of the IFRS system to Polish accounting principles
  • Basic information on financial reporting in Poland and worldwide.
  • The process of creating new IFRS standards and introducing changes to Polish accounting principles.
  • Regulations arising from the Accounting Act, ordinances and national accounting standards.
  • Conceptual IFRS assumptions with particular discussion of basic accounting concepts and the definition of assets, liabilities, revenues, costs and capital. 
Presentation of financial statements
  • Components of the full financial statements in accordance with IAS 1 and UoR.
  • Minimum requirements for the presentation of items in the statement of comprehensive income and statement of financial position; sample formats.
  • Statement of changes in equity.
  • Cash flow statement: similarities and differences. 
Revenue recognition
  • Recognition of revenues from the sale of finished goods, services and other goods. Revenues resulting from long-term construction contracts.
  • Fair value measurement.
  • Comparison with national regulations. 
Property, plant and equipment
  • Initial recognition of property, plant and equipment: costs that are capitalized as part of the initial recognition (purchase price, manufacturing costs, costs related to removing the asset at the end of the economic useful life).
  • Depreciation of components.
  • Valuation models after initial recognition: historical cost and revalued value.
  • Social assets.
  • Classification of spare parts. 
Borrowing costs
  • Definition of borrowing costs according to IAS 23 and UoR.
  • Basic differences: general financing costs, exchange rate differences, breaks in capitalization
  • Important issues related to the application of the capitalization method: assets for which the financial cost can be capitalized, capitalization period, capitalization rate. 
Government subsidies
  • Similarities and differences in the recognition of subsidies covering costs and investment outlays: classification of subsidies, their presentation, received loans bearing an interest rate below the market rate.
Intangible assets
  • Recognition conditions: traceability, control, future economic benefits, reliable valuation.
  • Intangible assets identified in the process of business combinations.
  • Period of use: definite and indefinite; accounting consequences.
  • Principles for recognizing research and development costs. 
Provisions, liabilities and contingent assets
  • Definitions of reserves, contingent liabilities and contingent assets in accordance with IAS 37 and UoR.
  • Valuation rules: determining the expenditure required to meet the obligation, discounting, collapsing the discount.
  • Provisions for employee benefits: retirement severance payments, jubilee awards, unused annual leave.
Impairment of assets
  • Identification of external and internal premises for impairment.
  • Determination of the recoverable amount and value in use in accordance with the guidelines of IAS 36.
  • Identification of a cash-generating unit (CGU); allocation of impairment to individual assets included in the CGU.
  • Comparison with CRS 4 Impairment of assets.
First-time adoption of IFRS
  • Subjective scope of IFRS 1 - the definition of entities applying international standards for the first time.
  • Rules related to transition to IFRS: specification of the reporting date and date of transition, application of mandatory and optional exemptions, impact of changes on the values ​​of assets, liabilities and capital.
Consolidated financial statements and business combinations - key issues
  • Business combinations: fair value measurement, goodwill and "negative goodwill" calculation, non-controlling (minority) shareholders, acquisition method and pooling method.
  • Goodwill: depreciation (UoR) and impairment (IAS 36).
  • Provisional settlement of business combinations.
  • Changes in the capital group: sale and purchase of shares transactions.
Financial instruments - basic issues
  • Categories of financial instruments: comparison of IAS 39 and MF regulation. Valuation rules for each category.
  • Valuation of financial assets and financial liabilities based on the adjusted purchase price (amortized cost).
  • Embedded instruments, hedge accounting.
Other issues: similarities and differences
  • Events after the reporting period.
  • Accounting policies, errors and estimates.
  • Wrestling.
  • Investment Estates.
  • Non-current assets held for sale and discontinued operations.
  • Segment reporting.
  • Leasing.
  • Payments in shares.
  • IFRS 13 measurement at fair value.


Participants receive a full package of training materials. Due to the broad context of the issues presented, the materials are not only used in class, but also allow you to return to the topics discussed after the training to repeat and consolidate the acquired knowledge. 

Date and location 

  • 2-3 November 2021 | Warsaw or Online Live
Price 2100.00 PLN (+ 23% VAT)
E-mail the Course Co-ordinator


Aleksandra Trych | mobile +48 505 171 636 |

Educational points/units 

Our training meets the conditions for self-education. 
Statutory auditors may undergo some compulsory professional development as part of self-education. During the 3-year settlement period, the number of self-study hours is at most 48 hours of self-study. (Ordinance of the Minister of Finance of November 21, 2014 on the mandatory professional development of statutory auditors). 
Self-education topics include: 
  • accountancy
  • financial audit
  • taxes
  • general economic knowledge - especially economic and financial law
  • IT issues
  • soft skills, the possession of which is necessary to perform the auditor's professional activities. 
Participation in stationary training includes the number of hours specified on the certificate. At EY Academy of Business 1 training day = 8 educational hours. 

CPD (Continuing Professional Development) - our trainings meet the requirements of international professional organizations (ACCA, IIA) regarding the further education of their members.