International Financial Reporting Standards (IFRS)

Transcription

1 Standards (IFRS) Course Programme Effective September BPP Professional Development - Expertise You Can Trust Courses include:

2 IFRS CPD Courses 1 IFRS is the future of global financial reporting. UK GAAP has already adopted a number of the more complex International equivalents, such as financial instruments and foreign exchange, with the expectation that over the next few years UK GAAP will no longer be the regulations used in the UK for all but the smallest of companies. The British Government has declared that IFRS will be applied to Central Government for year ends in The Securities and Exchange commission in the USA are now talking about when they adopt IFRS and not whether they adopt. Of course, this may be a number of years away but when you consider that in order to adopt IFRS there is a lead time of three year-ends, having a good grasp of IFRS cannot wait until the first reporting date. One of the many issues with IFRS is the pace of change. There has been a second stable platform, so the latest standards have implementation dates throughout 2009, which means that you not only need to be familiar with the existing treatments, but also with the rules that will be coming in next year. The most significant of these affect business combinations, with the changes expected to have significant implications on the way that deals are structured. Be ahead of the game with our suite of IFRS courses. Tel: Fax: bookings@bpp.com Group Accounting Under IFRS Accounting for Business Combinations Under IFRS - Amended Standards The introduction of IFRS makes significant changes to how we account for business combinations. For example merger accounting is banned, goodwill ceases to be amortised and many additional intangibles will need to be recognised separately in the group accounts. This course will explain the impact of adopting this standard. It will also look at other related standards on topics such as accounting for associates, accounting for joint ventures, the effects of changes in foreign exchange rates and financial reporting in hyperinflationary economies. This course does not provide detailed coverage of the revised standards issued by the IASB in January 2008 that apply for accounting periods beginning on or after 1 July Details of these new standards are included in our Accounting for Business Combinations - Amended Standards course. Acquisition accounting Fair values Purchased intangibles Goodwill, including the requirement for annual impairment testing Disclosure requirements Associates and joint ventures Changes in foreign exchange rates and financial reporting in hyperinflationary economies VAT including refreshments and materials Leeds 24 Oct Dec 2008 London 07 Nov Dec 2008 Luton 16 Dec 2008 Manchester 05 Dec 2008 Reading 12 Dec 2008 Southampton 01 Sep am pm The IASB have recently issued a revised version of IFRS and consequential amendments to IAS 27. The new standards are applicable for accounting periods beginning on or after 1 July 2009 but early adoption is permitted. Similar revised standards are expected to be introduced under UK GAAP. These revised standards introduce a number of significant changes to existing accounting practice. These changes include the immediate expensing of most directly attributable acquisition costs, changes in how we account for goodwill, minority interests and contingent consideration, a new approach to step acquisitions and a new approach to acquisitions and disposals that do not result in a change in control. This course provides a concise overview of the revised standards. Examples and illustrations are used throughout to explain the key changes and their implications. The key changes that have been made The impact on a company s financial statements The practical implications VAT including refreshments and materials London 19 Nov 2008 Manchester 2 Sep pm pm

3 IFRS CPD Courses 5.5 Tel: Fax: Standards - Introduction Course level All listed companies throughout the European Union are now required to prepare consolidated financial statements that comply with Standards ( IFRS ). This requirement may be extended to cover publicly accountable companies and the UK subsidiaries of group companies that apply IFRS. This one-day course is designed to give participants an introduction to the basics of IFRS. It focuses on the basic differences between IFRS and UK GAAP. No prior knowledge of IFRS is assumed. More complex issues are explored on our IFRS - Advanced course. (see below) The IFRS regulatory environment The format and contents of IFRS statements Commonly encountered balance sheet issues Commonly encountered income statement issues Disclosure issues The content and requirements of key IFRS and how these differ from UK GAAP 92 + VAT including lunch, refreshments and materials Birmingham 16 Sep 2008 Leeds 21 Oct Dec 2008 Liverpool 24 Oct 2008 London 16 Sep Oct Nov Dec 2008 Luton 0 Dec 2008 Manchester 11 Nov 2008 Newcastle 06 Nov 2008 Nottingham 01 Dec 2008 Reading 08 Dec 2008 Southampton 0 Dec 2008 Standards - Keeping Up-to-Date The IASB and FASB have published a roadmap for convergence between IFRS and US GAAP. Many changes to IFRS are therefore taking place, with new standards being issued and older standards being revised or replaced. This course is designed to bring you up-to-date with the latest developments and proposals and is therefore suitable for delegates with some existing knowledge of IFRS. Recently issued IFRSs. Recently issued IFRICs Proposed future changes Practical applications of existing IFRS VAT including lunch, refreshments and materials Birmingham 17 Sep 2008 London 25 Sep Dec 2008 Manchester 18 Sep 2008 Newcastle 04 Dec pm pm 11 Standards - Advanced This two-day course examines major convergence issues in detail. This course will focus primarily on the standards dealing with group issues, employee benefits, share-based payments and deferred tax. An introduction to accounting for financial instruments is also given. This course is practical in nature and draws on real-life examples and case studies. Attendees should have a good working knowledge of the basics of IFRS through attendance, for example, on the BPP IFRS Introduction course. Detailed accounting and disclosure requirements of key developments The practical problems of converting financial statements into IFRS Possible future changes VAT including lunch, refreshments and materials ( VAT for non Members) Birmingham Sep 2008 Leeds 22-2 Oct Dec 2008 London Sep Oct Nov Dec 2008 Manchester 12-1 Nov IFRS A Comprehensive Refresher Course level This two-day course provides an essential refresher of international reporting standards. It will benefit all who have some experience of international standards, either from their professional exams or in the workplace, who are in need of a comprehensive but concise refresher. The course covers the main requirements of all extant standards (excluding industry specific standards) and provides practical examples and illustrations throughout to demonstrate key treatments required by the standards. This course includes details of those standards that are mandatory for 2008 financial year-ends. It does not provide detailed coverage of the new and revised standards that apply from 2009 onwards. Details of these standards are included in our New & Revised IFRSs Applicable from 2009 course. IFRS reporting requirements First time adoption of IFRS Format and content of the financial statements Key income statement issues and balance sheet issues Key requirements relating to financial instruments Key disclosures Key group accounting issues VAT including lunch, refreshments and materials ( VAT for non Members) Leeds 1-14 Nov 2008 London 22-2 Sep Nov 2008 Luton Dec 2008 Manchester 02-0 Oct Dec 2008 Newcastle Dec 2008 Nottingham Dec 2008 Reading Dec 2008 Southampton Dec

4 IFRS CPD Courses 5.5 Tel: Fax: IFRS & US GAAP Compared Course level The adoption of Standards (IFRS) across the European Union and beyond represents a significant step forwards as we move towards a truly global set of financial reporting standards. However, it will still be some years before IFRS and US GAAP are fully converged. This course focuses on these differences and how they are likely to be resolved. This course will benefit anyone who is familiar with US GAAP and wants to gain a better understanding of how it differs from IFRS. A basic understanding and knowledge of US GAAP is assumed. The IFRS regulatory environment The format and contents of financial statements under IFRS Key differences that currently exist between IFRS and US GAAP The roadmap for convergence between IFRS and US GAAP 92 + VAT including lunch, refreshments and materials Location and date London 05 Nov 2008 IFRS First-time Adoption Workshop If the ASB proceeds with its current proposals many additional entities in the UK will be required to adopt IFRS in the near future. IFRS 1 provides guidance on the first-time adoption of IFRS. This case study based workshop looks at the requirements of this standard and will provide practical guidance on producing your opening IFRS balance sheet and restating your prior year financial statements to comply with IFRS. This course assumes some prior knowledge of IFRS and is suitable for those who have worked with IFRS in practice, studied IFRS as part of their professional exams or attended our IFRS introduction course. Current proposals to extend the use of IFRS to additional UK entities How to identify key conversion issues How to create your opening IFRS balance sheet and exceptions from the normal requirements of IFRS that can be applied when producing it Presentation and disclosure requirements How to communicate the transition to IFRS to investors and other stakeholders 92 + VAT including lunch, refreshments and materials Birmingham 2 Oct 2008 Leeds 1 Nov 2008 London 0 Sep 2008 Manchester 14 Nov Understanding Accounts Prepared Under IFRS Course level You may not think that IFRS are relevant to your business as you re not listed and have decided to continue to use UK GAAP when preparing your accounts. But many of your customers or suppliers will be adopting IFRS and it is essential that you can make sense of their financial statements in order to make informed business decisions. As an investor or analyst you will also want to understand what IFRS accounts are telling you about a company s performance. Working from real financial statements, this course will help you make sense of IFRS accounts and help you to get to grips with the new terminology, new formats and new disclosures. No prior knowledge of IFRS is required. The IFRS regulatory environment The format, content and terminology used in IFRS compliant financial statements The reconciliations between IFRS and UK GAAP The implications of the key differences between IFRS and UK GAAP What impact there is on reported profits and net asset values VAT including refreshments and materials Birmingham 22 Sep 2008 London 20 Oct pm pm New & Revised IFRSs Applicable From 2009 Many accountants breathed a sigh of relief when the IASB announced that no new or revised standards would apply until 1 January However, this brief period of relative stability is fast coming to an end. New and revised standards have already been issued relating to operating segments, borrowing costs, presentation of the financial statements, business combinations, consolidated accounts and provisions and contingencies. With still more changes in the pipeline, including amendments to 25 standards as part of the IASB s annual improvements project, now is the time to start planning for the future. This course looks at the changes that will be introduced in 2009, providing an overview of the key changes and practical advice on how to make the transition as smooth as possible. Recent IFRICs that are applicable for the first time in 2009 will also be covered. Significant new and revised standards Amendments arising from the IASB s annual improvements project Other minor amendments Recent IFRICs 92 + VAT including lunch, refreshments and materials London 20 Nov 2008 Manchester 24 Sep pm 6

5 4 TO BOOK: Contact our CPD Team on ; return this booking form to BPP Professional Education, 5th Floor, Boulton House, Chorlton Street, Manchester M1 HY; fax it to or quoting reference IFRS108. Terms and conditions Acknowledgement of Booking If you have not received acknowledgement of your booking by one week before the course date please telephone our CPD team on Substitute Delegates If you are unable to attend, a substitute may attend in your place at no extra charge. Please inform us of these changes as soon as possible. Payment Payment of the course fee is due prior to the course date. You and your company/fi rm are jointly and severally liable for payment of all fees. For bookings made 14 days or less (including the 14th day) prior to the date of the course, the fee is payable immediately and is non-refundable. Cancellations and Refunds All cancellations MUST be in writing. For bookings cancelled at least 15 days (by 5.0pm) prior to the course date, we will refund the course fee. For bookings cancelled between 14 and 4 days (by 5.0pm) prior to the course date delegates may attend another course of equivalent value free of charge. The fee is still payable and is non-refundable. For bookings cancelled working days or less (by 5.0pm) inclusive of the course date, delegates may attend another course of equivalent value for an administration fee of 25 plus VAT for a half-day course, 50 plus VAT for a one day course, or 100 plus VAT for a two day or more course. We reserve the right to vary course content and/or presenters or to cancel a course where necessary. Non refundable credits must be used within 12 months from date of issue. BPP Professional Development Membership Scheme You may receive a discount of up to 50% if you (or your fi rm) have a valid BPP PD Membership. The discount applies only to Professional Development Courses offered by BPP Professional Education s Professional Development division. No discount is available on any courses offered by other divisions of BPP Professional Education leading to a professional qualifi cation with any UK or overseas body. A BPP Professional Development (PD) Membership cannot be cancelled or any fee refunded. Any fee is payable and non-refundable even if no courses are booked. Membership discounts do not apply to administration fees. Bookings made with a BPP PD Membership are subject to the terms and conditions of the Membership scheme. It may be necessary for reasons beyond our control to alter the course content or speakers. E&OE. Full terms and conditions can be viewed at Booking Form PHOTOCOPY IF REQUIRED DELEGATE NAME (Mr/Mrs/Miss/Ms) Name(s)... Surname... Member Body... Year Qualifi ed... Specialist area... Firm... Address/DX Tel No... Fax No I AM ALREADY A MEMBER OF THE BPP MEMBERSHIP SCHEME I/WE WISH TO BECOME A MEMBER(S) OF THE BPP MEMBERSHIP SCHEME CORPORATE/FIRM MEMBERSHIP VAT = INDIVIDUAL MEMBERSHIP VAT = COURSE TITLE(S) DATE(S) LOCATION(S) COST(S) VAT Total Exc. 17.5% Example Standards (IFRS) - Introduction 16/09/08 London Membership (inc VAT) (if applicable)... TOTAL... Do you have any special needs/disability that may affect you in the event of a building evacuation whilst you are on BPP premises? Yes/No I would like a certifi cate/s of attendance for the above course/s Signed... Date... I, the above named, agree to abide by the BPP Professional Education Terms and Conditions METHOD OF PAYMENT(Please have your card details ready if calling our CPD team) MASTERCARD/VISA: Valid From:.../... Expiry Date:.../... Cardholder s name (as it appears on the card)... Card No:.../... /.../... Security Code (last three digits on the signature strip)... MAESTRO/DELTA: Valid From:.../... Expiry Date:.../... Cardholder s name (as it appears on the card)... Card No:.../... /.../... Issue No:... ref: IFRS108W Security Code (last three digits on the signature strip)... CHEQUE enclosed - payable to BPP Professional Education Amount % Total... BPP Professional Education, 5th Floor, Boulton House, Chorlton Street, Manchester, M1 HY, DX Manchester 62 Tel: Fax: bookings@bpp.com or Professional Development 5th Floor, Boulton House Chorlton Street Manchester M1 HY enquiries@bpp.com Tel: Fax: DX: Manchester 62 Sustainable Forest Recyclable ECF Low Chlorine

6 BPP Professional Education help people and businesses build their skills. We provide professional training to management and staff at all levels and train for recognised professional qualifications. Accountancy Actuarial +44 (0) Financial Services +44 (0) Human Resources +44 (0) Insolvency +44 (0) Law MBA +44 (0) Professional Development Taxation +44 (0) IFRS108W Professional Development 1 Procter Street Holborn, London WC1V 6DW Tel: (0) Fax: DX: Manchester 62 Sustainable Forest Recyclable ECF Low Chlorine enquiries@bpp.com