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IFRS-International Financial Reporting Standards Workshop Training Course

A 3-day intermediate-level financial training course on international financial reporting standards (IFRS).

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What you will learn in this practical IFRS training course:

This intermediate IFRS course provides for a thorough review of the most relevant parts of the IAS/IFRS framework.

All topics will be accompanied with examples and cases to illustrate effective application.

Issues that arise in practice will be discussed and you are encouraged to participate by tabling company specific issues you've encountered.

Additionally, more specific issues will be discussed as there are: income taxes, capitalization of expenses, lease applications and foreign currency treatment.

Particular attention will be devoted to financial products during day 3 given their relevance in today's economic environment and media attention they recently received.

Have a question? Email us at:

or call us at: (+852) 2273-4393

IFRS Training Course Agenda

"The course is a good one to set/refresh your knowledge levels on IFRS/IAS." - G.A., Millennium Capital Holdings, UAE

"The whole course was well arranged, co-ordinated and well presented." - A.R., Deputy Manager, Guaranty Trust Assurance, Nigeria

"I think this is a comprehensive course..." - A.W., Finance Manager, Gulf Takaful, Kuwait

DAY ONE

IASB and the conceptual framework

The content of the IASB Framework
Assessment of the IASB framework
Convergence and the IASB-FASB framework project
IASB-FASB exposure draft & discussion paper
Measurement bases for financial accounting

Consolidated financial statements and procedures

Concept of a group
Definition of a subsidiary & control aspect
Application to special purpose vehicles (SPE's)
Requirements to prepare consolidated financial statements & exemptions
Disclosures in consolidated financial statements
Consolidation procedures
Accounting for changes in ownership interests during reporting period (IAS 27 including 2008 changes)
Treatment of non-controlling (or minority) interests

Joint Ventures

Scope of IAS 31
Accounting requirements for:
- Jointly controlled operations
- Jointly controlled assets
- Jointly controlled entities
- Transactions between venture and a JV

Foreign Exchange

Scoping of IAS 21
Reporting foreign currency transactions in the functional currency of an entity
Use of a presentation currency other than the functional currency
Tax affects following exchange differences
Intragroup transactions

DAY TWO

Capitalization of borrowing costs

Requirements of IAS 23
Classification of borrowing costs
Commencement, suspension and cessation of capitalization

Leasing

Accounting for finance and operating leases
Financial lease: Issues for lessees and lessors
Operating lease
Sale- and lease-back
Leases as financial instruments
Service concessions and similar arrangements
Disclosure requirements under IAS 17
Practical issues
- Lease classifications
- Changing the terms of leases
- Derecognition of financial leases
- Sub-leases and back-to-back leases
- Payments made in relation to the termination of operating leases
- Repo-agreements

Revenue Recognition

The nature of revenues
The timing of revenue recognition
Critical event approach
Accretion approach
The requirements of IAS 18
Complete review
The IASB/FASB joint revenue recognition projects
Practical issues
Sale of goods
Receipt of initial fees
Subscription fees
Installation fees
Revenue recognition in the telecom sector
Regulatory liabilities
Customer loyalty programs

Income Taxes

Nature of taxation and scope of IAS 12
Recognition of tax assets and liabilities
- Current tax
- Deferred tax
- Consolidated tax return and group relief
- Allocation of tax charge or credit
- Measurement and disclosure

DAY THREE

Financial Derivatives

Requirements of IAS 21
Reporting foreign currency transactions in the functional currency of the entity
Tax effects
Disclosure issues
Translation to a different presentation currency
Intra-group transactions

Financial derivatives II

IAS 32 versus IAS 39
Scope
Embedded derivatives (focus on forex, interest rate, services contracts and leases)
Classification of financial instruments

Financial derivatives III- recognition, derecognition and offset

Recognition principles
Derecognition
Financial assets
Financial liabilities
Accounting treatment
Offset
Legal framework
Master netting agreements
Future developments

Financial derivatives IV- Financial liabilities and equity

Contractual obligation to deliver cash/financial assets
Contracts settled by delivery of the entity's own equity
Contingent settlement options
Derivative financial instruments with settlement options
Differences of classification between consolidated and a single entity financial statements
Settlement of financial liability
Reclassification of instruments
Compound financial instruments

Financial derivatives V- Measurement

Initial measurement and fair value
Subsequent measurement and recognition of gains and losses
Fair value measurement considerations
Amortized cost and the effective interest method
Impairment
Foreign currency contracts

Financial instruments VI- Hedge accounting

Hedging instruments and hedged items
Types of hedging relationships
Accounting for effective hedges
Qualifying conditions for hedge accounting

Financial instruments VII- Disclosures

IFRS 7
Structuring the disclosures
Impact of financial instruments on an entity's financial position and performance
Nature and extent of risk arising from financial instruments
Presentation within the set of financial statements

Who should attend this IFRS training course?

Accountants
Auditors
Financial controllers
Finance staff
Treasury accountants
Senior Managers

Have a question? Email us at:

or call us at: (+852) 2273-4393

Why Ethan Hathaway training courses?

Practical. Learn from experienced and active industry practitioners and what's being practiced by your peers.
Applicable. Apply what you learn in your job and your career
Specially designed courses by industry active experts for industry practitioners
Quality Control. Each expert instructor is interviewed and vetted through our senior management and our 5-point instructor criteria.
Valuable. Earn more revenue or save your organisation from monetary loss. You and your organisation will quickly earn back your investment on the course fee and more
Enjoyable. Speakers who have a passion for their topic
Clear. Turning complex concepts into easy to understand concepts
Limited seats - each session is limited to between 18-25 seats

What do you receive from an Ethan Hathaway training course?

You gain knowledge and skills that make you valuable to your company and your career
Instruction by industry experts
Course notes and reference package
Daily lunch, snacks and refreshments
Certificate of completion
Meeting your industry peers
Ask questions relevant to your job

Download the course brochure to learn more

Your course instructor

Luc Nijs: Luc is the founder, chairman & group CEO of a global emerging markets merchant banking group & conglomerate with offices around the globe.

He further holds the Aizkraukles Banka chair in investment banking & the Rietumu Banka chair in private equity & entrepreneurial finance at the Riga Graduate School of Law in Latvia where his lecturing and research focuses on issues like globalization & corporate strategy as well as corporate & investment strategies for emerging markets and in particular the relationship between investment strategies and returns and the impact of country context and institutional voids on returns in particular.

He is further the director of the centre for global emerging markets private equity and entrepreneurship and is responsible for the emerging markets & global portfolio management and the emerging markets PE & VC course at the institute and provides extensive executive coaching, training and consulting in these matters for funds, corporate executives and financial institutions worldwide.

He was previously with Arthur Andersen and Deloitte in a number of global positions and a professor at Instituto de Empresa (Madrid).

He is fluent in Dutch, English, French, German and Portuguese and has sound working knowledge of Russian and Chinese.

Dates & Locations & Fees

Date	Location	Venue	Course Fee	Early Bird Fee
10 Oct - 12 Oct, 2010	Dubai, United Arab Emirates	TBA	US$3998	See Brochure
20 Oct - 22 Oct, 2010	HK, Hong Kong	Marco Polo Prince Hotel	US$3998	See Brochure
25 Oct - 27 Oct, 2010	SG, Singapore	Marina Mandarin Hotel	US$3998	See Brochure
25 Jan - 27 Jan, 2011	Dubai, United Arab Emirates	TBA	US$3998	See Brochure
11 May - 13 May, 2011	Johannesburg, South Africa	TBA	US$3998	See Brochure
7 Sep - 9 Sep, 2011	Amsterdam, Netherlands	TBA	US$3998	See Brochure
21 Sep - 23 Sep, 2011	HK, Hong Kong	Marco Polo Prince Hotel	US$3998	See Brochure
5 Oct - 7 Oct, 2011	SG, Singapore	Marina Mandarin Hotel	US$3998	See Brochure
13 Dec - 15 Dec, 2011	Dubai, United Arab Emirates	TBA	US$3998	See Brochure

Early Bird Savings Early Birds Save Up To 30% Off the Regular Fee, download the brochure to learn more

Limited seats - Email us: for availability.

* Venue, dates, course fees, promotions, course content, course instructor are all subject to change

Can't find a session in a city near you?

If there's no session scheduled in a city near you, you have the following options:

In-house training: If you have a group of 8 or more, consider having us run this course in-house for you
Co-sponsored training: Between 5-7 people, consider a co-sponsored course - you agree to send this set number of people to the course if we run it in a city near you and Ethan Hathaway sells the remaining seats to other companies
Distance learning: Less than 5 people, consider distance training format: live trainer presents over phone lines/web at pre-scheduled times (available only for select courses)
Just tell us where you want the course: Let us know which city you'd like us to run this course in - we'll plan it if there's enough demand

Email us at: for more information regarding the above options.

Register for the course

You may book your place on the course by any of these methods:

Online booking - simply click on the "Register Me" button next to the course date you wish to register and it will take you through our quick online registration procedure.
Email us at: - please include your full contact details.
Fax us the booking form (included in the brochure) to: +852 3014-0721
Or call: +852 2273-4393 during normal office hours

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