Course detail
Course detail
Course 1746
IFRS for Canadian Investment Funds (3 days)
Booking Information
Duration: 3 days
Timing: 09:00 - 18:00
Location: Toronto
(see other locations for this course)
Price: CAD 4,855
Promo codes may be applicable. If you are planning to make a group booking, please contact us.
Prices are subject to Canadian HST
You can also pay in EUR, GBP, USD - you will be given this option later in the booking process
Date(s):
Related courses
- Course 1201: IFRS Financial Instruments Workshop (2 days)
- Course 1208: IFRS for Derivatives and Hedging (2 days)
- Course 1225: IFRS and US GAAP Fair Value Accounting (2 days)
- Course 1741: IFRS for Banks and Other Financial Institutions (3 days)
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Contents
- Introduction
- Prerequisites
- Course Level
- Topics
- Course Benefits
- Teaching Method
- Continuing Professional Education
- Venue
Introduction
Accounting for investment funds under an IFRS environment poses unique challenges for the financial statement preparers. This three-day program provides a comprehensive understanding of and hands-on practice in applying both the current and revised IFRS rules as they relate to investment funds. Our expert instructors provide an in-depth review of the IFRS standards that are of particular important to investment funds, including:
- IFRS 7 Financial Instrument Disclosures
- IAS 1 Presentation of Financial Statements
- IAS 7 Statement of Cash Flows
- IAS 27 Consolidated and Separate Financial Statements
- IAS 32 Financial Instrument Presentation
- IAS 39 Financial Instrument Recognition and Measurement
- IFRS 9 Financial instruments
Utilizing illustrative examples and model financial statements, the theory and practical application of IFRS to investment funds is demonstrated in an interactive group environment. The program also addresses specific considerations for investment funds in relation to consolidations, fair value accounting, and effective interest calculations.
Prerequisites
No advance preparation is required for this course. However the course is best suited to those who have an understanding of investment fund accounting in their local jurisdictions.
Course Level
Intermediate
Topics
- Impact of financial instrument measurement and classification standards on investment funds
- Financial instrument disclosures
- Effective interest method calculations
- Fair value measurement
- Accounting for the underlying investments of investment funds
- Accounting for investments where the fund has control of the investee
- Unitholder equity transactions
- Liability vs. equity treatment of fund units
- Review of current financial reporting structures of investments funds in various local jurisdictions
- Statement of cash flows
- Business combinations
- Functional currency determination
- Impact of IFRS 1 scope exemptions
Course Benefits
- Evaluate the impact of IFRS reporting requirements as applied to investment funds
- Appreciate the impact of IFRS rules for consolidation on accounting for certain investments
- Compare reporting structures of various jurisdictions not using IFRS for investment funds
Teaching Method
- Live group instruction with active participation encouraged
- Illustration of consolidation requirements and methodology, including the application of rules for non-controlling interests
- Comparative demonstration of consolidation issues relating to associates and joint ventures
- Review of the accounting and disclosure requirements for foreign operations
- Extensive hands-on case studies completed in an interactive group environment to demonstrate key points and practical application
- All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials
Continuing Professional Education (CPE)
24 hours
Venue
All of our Toronto seminars take place in 4 star professional conference facilities, usually in city-centre downtown hotels like the Marriott, Sheraton or Hilton brands.
Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available.
Coffee and lunch will be provided.
Evening Courses: Our Tuesday and Thursday classes start promptly at 6pm and finish at 9pm, with a 30 minute break included. Evening class venues will be centrally located with exact details to be confirmed approximately one month before the start date.
Course Summary
This interactive three-day course explores the impact of IFRS on investment funds in Canada through the use of case studies, exercises, model financial statements and break-out sessions.
Topics include: IAS 39 Financial Instruments: Recognition and Measurement / IAS 32 Financial Instruments: Presentation / Financial statement presentation issues / Effective interest rate calculations including accounting for bonds / Accounting for taxes for mutual fund corporations / NI81-106 considerations / Brief comparison IFRS to Canadian GAAP / Discussion of future developments (IFRS 9 Financial Instruments, Exposure Drafts, Draft Interpretations, IASB projects and agenda, convergence update and plans). In addition, the course will take an in depth look at the Canadian specific issues as they relate to investment funds, including reviewing recent research paper publications by the CICA on IFRS implementation for investment funds.