IFRS Update for Managers and Controllers

SM GLOBAL Consulting from London and Business Effectiveness Ltd. are organizing practical workshop in Zagreb.

Workshop lecturer Mr. Saket Modi is a finance professional and consultant in the field of finance for already two decades. His workshops are recognized all over the world and hopefully will find the same recognition in Croatia, which is why we are publishing the program and theme of the 'IFRS Update for Managers and Controllers' workshop. 

[WORKSHOP] IFRS Update for Managers and Controllers

Zagreb, 22.05.2018

LIMITED SEATS AVAILABLE !

► COURSE OVERVIEW

This course provides a comprehensive overview of the significant changes in new IFRSs on financial instruments, revenue and leases. It has been designed to bring preparers and users of financial statements up-to-date with recent developments, including updates to existing standards and new interpretations.

► LEARNING OUTCOMES

To enable participants to obtain an in-depth understanding of the significant updates in the new standards and its impact on financial statements of banks, financial institutions and corporates:

• Analyse the changes to the principles in new standards on financial instruments, revenue and leases.
• Evaluate the impact of transition to new standards on financial statements.
• Obtain an overview of other recent developments in IFRS.
• Analyse and interpret IFRS financial statements.

This course is very interactive with real-life illustrations and case studies.

► WHO SHOULD ATTEND?

The course is useful for preparers and users of financial statements of corporate and financial institutions:

• Staff in finance, treasury, operations, risk management, IT or compliance departments.
• Internal and external auditors.
• Regulatory staff.
• IT staff involved in finance change/transformation.

► COURSE OUTLINE

9:00 – 11:00  Financial Instruments (IFRS 9)

• Classification of financial assets and financial liabilities.
• Impairment of financial assets.
• Application of expected credit loss model including simplifications and practical expedients.
• Hedge accounting
  - Overview of hedging and accounting for different types of hedges
  - IFRS 9 Widening the net: Hedged items and hedging instruments
  - Hedge effectiveness requirements, rebalancing and discontinuation
• Transition requirements and impact

Practical case study: Analysis of the impact of IFRS 9 classification and impairment.

11:00 – 11:15  Break

11:15 – 12:45  Revenue from Contracts with Customers (IFRS 15)

• Scope of the new comprehensive framework for revenue recognition.
• Analysis of five step framework for recognition of revenue.
• Overview of application guidance.
• Presentation, disclosure and transition requirements.

Practical case study: Analysis of the impact of IFRS 15 on financial statements.

12:45 – 13:45  Lunch

13:45 – 15:15  Leases (IFRS 16)

• Issues with existing lease accounting
• Definition of a lease and separating a contract into lease and service components
• Lessee accounting model: measurement of lease assets and liabilities
  - Exemptions and reliefs
• Sale and leaseback transactions
• Overview of Lessor accounting
• Presentation, disclosure and transition requirements

Practical case study: Application of the new lessee accounting model.

15:15 – 15:30  Break

15:30 – 17:00  Case studies and other IFRS updates

• Real-life illustrations of the impact of new standards (IFRS 9, 15 and 16).
• Overview of insurance contracts (IFRS 17).
• Updates to existing standards and new interpretations.
• Current projects of the International Accounting Standards Board