IFRS (International Financial Reporting Standards)

Who Should Attend

• Investment analysts
• Financial Analysts
• Accountants
• Portfolio Managers
• Securities Analysts
• Credit / Investment Analysts
• Pension Fund Managers
• Auditors

Overview

• Applying IFRS in Practice
• The Framework
• Statement of Financial Position
• Statement of Comprehensive Income
• Statement of Changes in Equity
• Statement of Cash Flows: choice between direct and indirect method

Financial statement presentation and disclosure

• IAS 8 Changes in accounting policies, estimates and accounting errors
• Related parties disclosure
• Discontinued operations
• Operating segments

IFRS 9 Fair Value & Cash Flow Hedge Accounting

• Identifying ineffectiveness
• Splitting a hedge between effectiveness and ineffectiveness
• Excluding spot forward differential
• Addressing documentation issues

Revenue Recognition for Goods and Services

• Interest, royalties and dividends
• Fair Value and other valuation issues
• Inventory impairment
• Property, plant and equipment
• Pensions and retirement
• Effective Interest rates

Valuation

• Depreciation
• Revaluation
• Assets held for sale

Measurement alternatives

• Intangible assets
• Purchased intangibles
• Investment property transfers
• Acquisition as part of a business combination
• Internally generated intangible assets
• Measurement requirements and alternatives

Impairment

• Identifying impairment indicators
• Determining recoverable amount
• Measuring and recognising impairment
• Cash generating units and impairment of goodwill

Case Study: Annual report of major local company and major financial institution