IFRS Masterclass for Banks and Non-Financial Corporations

This timely and comprehensive course is intended for those who want to enhance their existing knowledge and understanding on IFRS, update themselves on recent key IFRS changes and be well prepared for all the new major developments of IFRS.

It provides an in-depth examination of the new standard IFRS 9, Financial Instruments, which will be mandatory from 2018. It looks at how companies can prepare for the transition from IAS 39 to IFRS 9 in the key areas of asset classification, impairment of financial assets and hedge accounting.

The course looks at other standards that have been introduced recently including the suite of standards addressing controlling and non-controlling investments as well as structured entities – these are covered in IFRS 10, IFRS 11 and IFRS 12. The course reviews the impact of the introduction of IFRS 13, Fair Value Measurement in 2013. It examines the new standard IFRS 15, Revenue from Contracts with Customers, which will be mandatory from 2018, and reviews how this will impact companies. An update is provided on the expected new leasing standard.

The course is highly practical. There are numerous discussion topics, worked examples and case studies for participants to work through.

Day One

1. IASB Recent and Current Work Programme
2. IAS 32 – Distinction between debt and equity capital
3. IFRS 9 Classification of Financial Assets and Financial Liabilities
4. IFRS 9, Impairment – the new Expected Credit Losses approach

Day Two

1. IFRS 9 – Accounting for Derivatives
2. IFRS 9 – Hedge Accounting
3. IFRS 13, Fair Value Measurement
4. Disclosures required – IFRS 7 and IFRS 13
5. Lease Accounting

Day Three

1. IFRS 10, Consolidated Financial Statements
2. IFRS 10, Investment Entities Amendment
3. IFRS 11, Joint Arrangements & IAS 28 Revised
4. IFRS 12, ‘Structured Entities and Disclosure’
5. IFRS 15: Revenue Recognition – new standard, issued May 2014