Course 1790: In-depth IFRS for Banks and other Financial Institutions (5 days)

Transcription

1 Course 1790: In-depth IFRS for Banks and other Financial Institutions (5 days) Course introduction This workshop provides a detailed review of the significant technical requirements of International Financial Reporting Standards (IFRSs), including accounting and reporting for financial instruments, as well as other standards relevant to the financial services sector. It includes coverage of the requirements of the relevant standards and interpretations, hands-on case studies, examples, exercises, small-group projects, and benefits from the interactive participation of the attendees. Our specialist instructors explain the principles clearly and simply and provide real-world examples, thereby immersing participants in the intricacies of IFRSs and the implications for banks and other financial institutions. IFRS 9, the new standard on financial instruments, is mandatory for annual periods beginning on or after 1 January Utilizing a highly interactive format, this course provides a comprehensive overview of the effects that this standard has on the financial statements of financial institutions. The principles of the standards are demonstrated with numerous illustrative examples, complemented by application of the standards in an interactive group environment utilizing case studies, model and real-world financial statements and practical exercises. The registration fee for this unique event includes: 5 days of formal tuition by some of our most senior instructors Full set of course materials (including case studies, illustrations and examples) Lunch and refreshments on every teaching day Topics Introduction to IFRSs IFRSs and the IASB structure Overview and organization of the standards IFRS Conceptual Framework Overview of primary IFRS financial statements Concept of other comprehensive income Printed from on 20 Oct 2018 Page 1 of 6

2 Time value of money IFRS 13 Fair Value Measurement Non-Financial Assets IAS 16 Property, Plant and Equipment IAS 23 Borrowing Costs IAS 38 Intangible Assets IAS 40 Investment Property IAS 36 Impairment of Assets Liabilities IAS 37 Provisions, Contingent Liabilities, and Contingent Assets IAS 19 Employee Benefits IAS 17 (and IFRS 16 effective from 2019) Leases Financial Statements IAS 1 Presentation of Financial Statements IAS 7 Statement of Cash Flows IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 Events after the Reporting Period IAS 33 Earnings per Share IAS 34 Interim Financial Reporting IFRS 8 Operating Segments IFRS 15 (effective from 2018) Revenue from Contracts with Customers Financial Instruments Overview of IFRS 9 Financial Instruments Classification and reclassification of financial instruments Solely Payments of Principal (SPPI) and business model criteria The fair value option Initial and subsequent measurement Derivatives and embedded derivatives Calculation of effective interest rates and application of the effective interest method under various scenarios Repossessed assets Loan fees and origination costs Financial guarantees and loan commitments Derecognition of financial instruments Printed from on 20 Oct 2018 Page 2 of 6

3 Application of the expected credit loss model Hedge accounting model Transition requirements Update on the Discussion Paper regarding dynamic risk management (macro hedging) and IASB s current plan IAS 32 Financial Instruments: Presentation Distinguishing between financial liabilities and equity transactions Offsetting financial assets and financial liabilities IFRS 7 Financial Instruments: Disclosures IFRS 1 First-time Adoption of IFRSs - reliefs from retrospective application IAS 21 The Effects of Changes in Foreign Exchange Rates Teaching method Live group instruction Class discussions lead by IFRS experts with extensive experience with financial institutions Description and explanation of IFRS technical requirements in clear and simple language, with an emphasis on accounting for financial instruments and other standards most relevant to financial institutions PowerPoint presentations, supplemented with examples, calculations, and interactive discussions Short exercises or cases for each significant standard to provide hands-on application practice All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials Prerequisites Some familiarity with financial reporting for banks or other financial institutions under IFRS or national GAAPs. No advance preparation is required for this course. Course benefits Prepare and analyse IFRS financial statements, including statement of financial position, statement of profit or loss and other comprehensive income, statement of cash flows, statement of changes in equity and the notes to the financial statements Printed from on 20 Oct 2018 Page 3 of 6

4 Comply with the extensive IFRS disclosure requirements, including accounting policies and changes in accounting policies, earnings per share, related parties, operating segments, and the qualitative and quantitative disclosures for financial instruments Apply IFRS requirements for recognition and measurement of assets, liabilities, revenues, expenses, gains and losses Calculate impairment of loans and other financial assets in accordance with IFRS 9, as well as impairment of non-financial assets using the cash-generating units approach in accordance with IAS 36 Differentiate between finance and operating leases and learn the impact of IFRS 16 s lease accounting model Classify and measure financial assets under IFRS 9 s three categories Calculate the effective interest rates for various financial instruments common to the banking industry and apply the effective interest method for recognition of interest income and expense Differentiate embedded derivatives between those that must be accounted separately and those that do not require separation from their host instruments under IFRS 9 Apply IFRS requirements for hedge accounting, repossessed assets, loan commitments, loan fees, and financial guarantees Testimonials See what past participants said about this course: IASeminars have been the best service provider so far. IASeminars are excellent and they have good rating with my employer. [And when asked if we can improve:] No improvement, you are excellent! IASeminars value customers and are customer-focused. [On describing changing venues and cost savings:] Very few would do that. Their services and training are world-class. They are just amazing. Manns Hachibozu, Senior Accountant, Bank of Zambia Relevant, customer-focusing course. Very helpful for banks reporting under IFRS. Great instructor [Saket Modi], understandable materials. perfect learning option. Kenneth Mkama, Internal Auditor, CRDB Bank Plc, Tanzania Printed from on 20 Oct 2018 Page 4 of 6

5 I prefer IASeminars training Norah Alowidy I suggest/recommend people to attend seminars organised by IASeminars to realise value for money of their fees. Well organised, relevant content. As usual, the course was helpful in providing the much needed guidance for the implementation of IFRS9. The instructor is highly experienced and gives real life practical examples to put his explanation into perspective. The exercises were relevant and to-the-point and provide a good summary of the learning points. Omar Mboob, Head of Finance, Trust Bank Limited, Gambia Who should attend? Financial accountants and management accountants in the financial services sector seeking in-depth knowledge of all accounting standards and interpretations most relevant to the industry Accounting staff and management of banks and other financial institutions that are adopting IFRSs for the first time, or have already adopted IFRSs, and want to reinforce their understanding of the accounting and reporting requirements Internal and external auditors of entities in the financial services sector reporting under IFRSs Staff and management of Central Banks, Deposit Insurance Entities, and other agencies with regulatory responsibility in the financial services sector Financial analysts seeking to improve their understanding of the accounting and disclosures by banks and other financial institutions CPE / CPD Accreditation Printed from on 20 Oct 2018 Page 5 of 6

6 NASBA IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Field of study: Accounting ICAEW Partner in Learning IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs. Texas State Board of Public Accountancy IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. In House To bring this course in-house please contact us and we will be pleased to assist Printed from on 20 Oct 2018 Page 6 of 6