Course dates
Course overview
Accounting for financial instruments is particularly challenging due to the volume of IFRS content, complexity of activity, and rapid changes that are occurring.
Join us for this 3-day course to increase your understanding of financial instrument accounting and disclosure requirements, receive clear and practical guidance on the new classification and measurement standard IFRS 9, learn about other upcoming changes to financial instrument accounting and prepare for your future financial reporting.
This course explains all standards that deal with financial instrument recognition, measurement, disclosure and presentation, including NEW IFRS 9. Applications will be illustrated with real-life financial statements and practical case studies. In addition, through analysis of enforcement actions, you will learn the financial instrument accounting areas that most commonly result in regulatory scrutiny and restatements for listed entities.
Summary of course content
- Understand all standards relating to financial instruments, including NEW IFRS 9
- Learn how to effectively meet disclosure requirements
- Comply with fair value measurement and impairment guidance
- Discover the areas that most commonly result in regulatory scrutiny and restatements
- Develop strategies for the initial application of IFRS 9
- Analyse the anticipated financial statement and systems impact of IFRS 9
- Monitor the IASB's plans and schedule for future financial instrument revisions
- Prepare for implementation of upcoming new requirements
- Put theory into practice with company case study exercises
Methodology
This course provides an answer to the continuing and growing need for information and practical guidance in relation to IFRS financial instrument accounting, presentation and disclosure issues.
The course content will be updated to include the latest pronouncements and most recent accounting changes current as of the course date.
Who should attend?
- Accountants at financial institutions
- Financial Analysts
- Portfolio Managers
- Securities Analysts
- Credit / Investment Banking
- Senior Managers
- Auditors of financial institutions
Supporting publication
DAY ONE
Coverage of IAS 39 financial instruments: recognition and measurement
- Financial asset and liability classifications
- Reclassification requirements and alternatives
- Applying the fair value option
- Recognising financial instruments
- Measuring financial assets and liabilities
- Measurement at recognition
- Measurement after recognition
- Fair value considerations
- Foreign currency considerations
- Recognising and measuring financial asset impairment
- Reversing impairment
- Derecognising financial assets and liabilities
- Understanding and applying the derecognition model
DAY TWO
Coverage of IAS 39 financial instruments: recognition and measurement (continued)
- Overview of derivatives
- Identifying derivatives
- Accounting for embedded derivatives
- Basic introduction to hedge accounting
- Understanding the three types of hedges
- Accounting for basic cash flow and fair value hedges
- Complying with documentation requirements
- Discontinuing hedge accounting
Coverage of IFRS 7 financial instruments: disclosures
- Determining the level of disclosure needed
- Understanding disclosure requirements
- Qualitative
- Quantitative
- Review of real-world financial institution disclosures
Coverage of IAS 32 financial instruments: presentation
- Distinguishing between liabilities and equity
- Identifying and accounting for compound financial instruments
DAY THREE
Avoiding problems
- Review of enforcement actions relating to financial instrument accounting by listed entities
- Discussion and analysis of common issues
Special issues for first-time adopters of IFRS
- Applying the financial instruments mandatory accounting exception
- Understanding the optional exceptions relevant to financial instruments
Coverage of IFRS 9 financial instruments: classification and measurement
- IFRS 9 introduction: background and scope
- Initial measurement of financial assets
- Treatment of transaction costs
- Subsequent measurement of financial assets
- Cost and fair value
- Classification considerations
- Changes from IAS 39 classifications
- Timing of initial classification
- Reclassifications
- Treatment of debt instruments
- General measurement requirement
- Cash flow characteristics test
- Business model test
- Alternative
- Applying the accounting mismatch guidance
- Derecognition and presentation
- Treatment of equity instruments
- General measurement requirement
- Recognition alternatives for valuation changes
- Gains and losses
- Impairment changes
- Derecognition and presentation
- Derivatives
- General measurement requirement
- Hedging considerations
- Embedded derivatives
- Identifying embedded derivatives
- Changes from previous accounting treatment
- Assessment and measurement
- Special topics
- Contractually linked instruments
- Non-recourse lending
- Disclosures, including disclosure updates and amendments
- Assessing the impact
- Evaluating the financial statement results
- Important transition considerations
- Transition requirements
- Transition options
- Effective date and alternatives
- Determining when to adopt
- Looking ahead
- Interrelationship with future changes
Current events and new developments
- Review of the latest IASB issuances and plans relating to financial instruments
InterContinental Grand Stanford Hotel, Hong Kong, Hong Kong
This programme takes place on a non-residential basis at the InterContinental Grand Stanford Hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.
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Karen Kalishek
Karen Kalishek is an international instructor and consultant specialising in International Financial Reporting Standards (IFRS and US Generally Accepted Accounting Principles (US GAAP)). Karen also writes technical accounting material for publication and is a content author for IFRS and US GAAP e-learning programs.
She is a US Certified Public Accountant (CPA), a Certified Management Accountant (CMA), a Certified Fraud Examiner (CFE) and earned an MBA from the University of Wisconsin. Prior to entering the international arena, she taught graduate level business and finance courses in the USA as well as CPA examination review courses. Karen was formerly Senior Vice-President in a regional bank holding company and also served for eight years on the accounting examination and licensing board of her state. Karen’s extensive experience and engaging teaching style have made her a popular instructor with many repeat clients.
Courses run by this instructor
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Course dates