In addition to our events throughout Europe and North America, IASeminars now offers an extensive range of technical IFRS & US GAAP training courses to clients in the Middle East.
Using Dubai as our regional hub, we have scheduled a number of public courses ranging from introductory to advanced, from general to specific.
See below for the complete list of courses, and click on the links for more information and to register. Alternatively, all of our
course topics can also be delivered on an
in-house basis.
IASeminars is pleased to be partnering throughout the Middle East with
Morgan International Offshore, a leading regional provider of educational and training services based in Beirut with offices in 24 major cities.
All Courses in Dubai
For a chronological listing by course number, click
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1000: IFRS Comprehensive Workshop (8-day course)
This eight-day comprehensive workshop focuses on all significant IFRS requirements, with detailed explanations and examples presented by two expert instructors. The programme includes the latest pronouncements, and participants will be brought up-to-date on all topics.
Through the use of case studies, exercises, and SIC & IFRIC Interpretations, the workshop covers: A brief history of IFRS | The GAAP hierarchy (explanation & application) | Balance sheet format and contents | Income statement presentation and specific disclosures (earnings per share, segment reporting, discontinued operations, related parties, accounting policies, discontinued operations) | Cash flow statements | Statement of shareholders’ equity (including presentation alternatives) | Interim reporting | Recognition and measurement of assets (property, plant & equipment, intangible assets, inventories, investment property) including the accounting treatment of impairment and assets held for sale | Interest capitalisation | Accounting estimates and errors | Revenue recognition | Changes in accounting policy | Provisions/non-financial liabilities (including those for employee benefits) and other liabilities | Contingencies (identification & disclosure) | Share-based payment | Leases | Current and deferred taxes | Investments in associates and joint ventures | Business combinations and consolidated financial statements, including special purpose entities | Construction contracts | Financial instruments, including the treatment of derivatives & hedge accounting | Foreign currency transactions and financial statement translation | Events after the balance sheet date | Hyperinflation | Government grants | Brief overview of industry-specific standards (agriculture, insurance, oil & gas, employee benefit plan providers) | First-time adoption of IFRS | Discussion of future developments (Exposure Drafts, Draft Interpretations, Discussion Papers, IASB & IFRIC projects and agenda, convergence plans with major national GAAPs).
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1020: IFRS Overview, with US GAAP Comparison (3-day course)
This three-day interactive workshop is a step-by-step overview of the technical issues involved in IFRS and the critical differences between IFRS and US GAAP. The programme is presented using financial statements, case studies, and extensive examples. Course topics include: Financial statement presentation and specific disclosures (segment reporting, events after the balance sheet date, cash flow statement, related parties, accounting policies/changes in estimates/errors, discontinued operations) | Revenue recognition | Recognition and measurement of assets (property, plant & equipment, borrowing costs, investment property and intangible assets) including the accounting treatment of impairment and assets held for sale | Contingencies and non-financial liabilities (including those for employee benefits) | Share-based payment | Foreign currency transactions | Investments in associates and joint ventures | Inventories | Overview of business combinations, including a recap of the January 2008 revisions | Consolidated financial statements, including special purpose entities | Financial instruments, including the IFRS 7 disclosure requirements | First-time adoption of IFRS | Comparison of the Conceptual Frameworks for IFRS and US GAAP | Discussion of significant differences between IFRS and US GAAP | Expected future developments (update on the IASB-FASB convergence project, status of global accounting convergence, Exposure Drafts, other IASB projects and work agenda).
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1080: IFRS Technical Update
This one-day course brings delegates up-to-date with IFRSs and IFRICs that were issued, amended or became effective within 12 months and presents information on other recent and impending pronou...
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1080: IFRS Technical Update
This one-day course brings delegates up-to-date with IFRSs and IFRICs that were issued, amended or became effective within 12 months and presents information on other recent and impending pronouncements. Topics to be covered are finalised in the run-up to the course in order to be as current as possible. The course covers the following new Standards, Interpretations and final Amendments to existing Standards (includes those effective 2008 or later): IFRIC 12 Service Concession Arrangements (December 2006, effective January 2008) | IFRS 8 Operating Segments (December 2006, effective January 2009) | Amendment to IAS 23 Borrowing Costs (March 2007, effective January 2009) | IFRIC 13 Customer Loyalty Programmes (June 2007, effective July 2008) | IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction (July 2007, effective January 2008) | Revised IAS 1 Presentation of Financial Statements – comprehensive income (September 2007, effective January 2009) | Revised IFRS 3 Business Combinations (January 2008, effective July 2009) | Revised IAS 27 Consolidated and Separate Financial Statements (January 2008, effective July 2009) | Consequential amendments to IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures (January 2008, effective July 2009) | Revised IFRS 2 Share-based Payment (January 2008, effective January 2009) | Amendment to IAS 32 Financial Instruments: Presentation, relating to puttable instruments and obligations arising on liquidation (February 2008, effective January 2009) | Annual Improvements Project for 2007 - Amendments to 20 IFRSs (May 2008) | Amendment to IFRS 1 First-time Adoption of IFRS and IAS 27 Separate and Consolidated Financial Statements, relating to cost of an investment on first-time adoption (May 2008, effective January 2009) | IFRIC 15: Agreements for the Construction of Real Estate (July 2008, effective January 2009) | IFRIC 16: Hedges of a Net Investment in a Foreign Operation (July 2008, effective October 2008) | Amendment to IAS 39 Financial Instruments: Recognition and Measurement – Eligible Hedged Items (July 2008, effective July 2009).
The programme also includes a progress report on current Exposure Drafts, Discussion Papers and ongoing IASB projects. Our expert instructors provide an update on IFRIC deliberations, IASB future projects, and the status of US GAAP and other GAAP convergence projects.
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1210: IFRS and US GAAP Accounting for Derivatives and Hedging (2-day course)
This two-day course provides a comprehensive view of the most important accounting and reporting requirements for derivatives and hedging activities under US GAAP (FAS 133) and IFRS (IAS 39 and IFRS 7). Course topics, presented through model journal entries, financial statement disclosures, case studies, and real-world examples, include: Reporting and control environment | Key players in the industry | Financial instruments used in hedging | Dangers of misusing derivatives | Importance of internal controls | Designing an effective hedge (identifying the hedged risk, selecting the hedging instrument, assessment of hedge effectiveness, documentation and disclosure) | Testing hedge effectiveness (critical terms analysis, statistical methods, cumulative dollar offset method, short-cut method) | Hedge accounting (purpose of hedge accounting, qualifying for hedge accounting, benefits and costs, alternatives to hedge accounting) | Hedge classification (fair value hedges of an existing asset or liability, firm commitments) (cash flow hedges of an existing asset or liability, forecasted transactions) | Applying hedge accounting (fair value hedge of an investment, fair value hedge of inventory, fair value hedge of a firm commitment, cash flow hedge of a forecasted transaction, accounting for hedge ineffectiveness, accounting for a discontinued hedge) | Interest rate swaps (economics of interest rate swaps, floating to fixed rate swaps, fixed to floating rate swaps, qualifying for the short-cut method, basis swaps) | Hedging interest rate risk (role of duration in hedging, interest rate futures and options, cash flow hedges of anticipated transactions, assessing hedge effectiveness, interest rate hedging strategies) | Foreign exchange hedges (fair value hedges of assets and liabilities, cash flow hedges of assets and liabilities, accounting for hedge ineffectiveness, foreign exchange hedging strategies, net investment hedges of foreign operations) | Embedded derivatives (definition, identifying and valuing hybrid instruments, 'clearly-and-closely related' criteria, determining if bifurcation is necessary, dominant economic component tests) | Required journal entries | Disclosures and notes to the financial statements | Comparisons between US GAAP and IFRS | Latest developments (the Fair Value Option, Amendment to IAS 39 on eligible hedged items, US GAAP Statement 133 Implementation Issues, Fair Value Measurement - IASB Discussion Paper and US GAAP Statement 157, FAS 161 Disclosures about Derivative Instruments and Hedging Activities, Overview of the IASB Discussion Paper (March 2008) on reducing complexity in reporting financial instruments, FASB Exposure Draft (June 2008): Accounting for Hedging Activities - an Amendment of FASB Statement 133, and other emerging issues).
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1220: IFRS Accounting for Foreign Currency Transactions
This one-day course provides an in-depth review of the accounting and disclosure requirements for foreign currency transactions under IAS 21 The Effects of Changes in Foreign Exchange Rates. Our expert instructors explain and illustrate the technical and practical issues arising when accounting for purchase and sale transactions expressed in foreign currencies and using a multi-currency system. Course coverage includes: A review of IAS 21 | Determining the functional currency of an entity | Change in functional currency | Reporting foreign exchange transactions in the functional currency | Analysis of monetary and non-monetary items | Determining the exchange rate | Initial and subsequent measurement of foreign currency transactions | Recognition of exchange differences | Interrelationship between IAS 21 and IAS 39 | Overview of foreign currency markets and trends | Hedging foreign currency risk | IFRIC 16 Hedges of a Net Investment in a Foreign Operation.
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1225: IFRS and US GAAP Fair Value Accounting (2-day course)
This two-day course explores the measurement of fair value and the impact of the 'Fair Value Option' under both IFRS and US GAAP. The programme covers, through the use of examples and case studies: Fair value measurement | New definition of fair value | Fair value hierarchy | Market participant assumptions | Various risks affecting fair value measurements | Measurement of assets and liabilities | Valuation techniques (market-based and non-market based) | Disclosures | Transitional rules | Impact of fair value measurement rules in key areas including: Business combinations and intangibles; Nonmonetary transactions; Long-lived assets held for sale; Pensions and other postretirement benefits; Financial instruments; Asset retirement obligations; Revenue; Impairment testing; Provisions and other liabilities | Fair Value Option for financial instruments | Current status of the IASB Discussion Paper on fair value measurement | Current status of the IASB Exposure Draft on provisions.
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1230: IFRS Business Combinations Accounting Workshop (2-day course)
This two-day course provides an in-depth review and hands-on experience in applying IFRS 3 Business Combinations - and related principles such as the fair value measurement of acquired assets and assumed liabilities and contingent liabilities, the calculation of goodwill, the evaluation of contingent payments, the treatment of business combinations achieved in stages, provisional accounting and subsequent changes to valuations. Using extensive case studies in an interactive group environment, our expert instructors guide delegates through business combination accounting rules and practical applications, including: Identifying a business combination | Determining the date of the acquisition | Identifying the acquirer | Calculating the cost of the business combination (including treatment of contingent payments) | Recognition and measurement of acquired assets, including intangible assets | Accounting for in-process research and development | Recognition and measurement of assumed liabilities, including contingent liabilities | Provisional accounting rules | Accounting for subsequent changes in valuation | Accounting for goodwill | Treatment of bargain purchases | Impairment testing of goodwill and intangible assets with indefinite useful lives | Restructuring provisions | Treatment of noncontrolling (minority) interests | Put and call options on minority interests | Tax considerations | Disclosure requirements | Business combinations achieved in stages | Reverse acquisitions | Transitional provisions.
In addition, the course includes a brief overview of the most significant changes that will be required in accounting for business combinations under the revised IFRS 3 issued 10 January 2008. The effective date for the revised standard is 1 July 2009, with limited early application permitted. The programme also includes a discussion of the current status of the IASB Discussion Paper on fair value measurement and its potential affect on business combinations.
Delegates who would benefit from in-depth review of the changes to current accounting requirements that will become effective with revised IFRS 3 are encouraged to also consider attending Course 1235: IFRS Business Combinations - Implementing the New Standard.
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1235: IFRS Business Combinations - Implementing the New Standard
This one-day course provides delegates with the information needed to understand and apply the significant revisions to IFRS 3 and IAS 27 published on 10 January 2008. The interactive programme is designed to give delegates hands-on assistance in preparing for the changes to business combinations accounting, which are effective 1 July 2009, with limited early application permitted. The course presents comparisons to current IFRS business combinations accounting requirements and also illustrates and explains new guidance for topics that are not addressed under the current standard. Course topics include: Scope of the standard | The purchase method of accounting | Identifying a business combination (definition of a business and a business combination, application to variable interest entities) | Identifying the acquirer | Determining the date of the acquisition | Calculating the cost of the business combination (alternatives for determining the total amount to be recognised by the acquirer, application of consideration paid or direct measurement of the business acquired, determining the total amount of consideration, items included and excluded from cost, treatment of direct and acquisition-related costs, shares issued as part of purchase price) | Accounting for contingent payments (classified as liabilities, classified as equity) | Recognition and measurement of acquired assets and assumed liabilities (valuation allowances, reacquired rights from the acquiree, receivables and loans, restructuring costs, pension and other postretirement benefits, intangibles, accounting for in-process research and development) | Preacquisition contingencies (contingent liabilities – financial and nonfinancial instruments, contingent assets, remeasurement issues) | Excludable transactions (replaced equity-based and outstanding awards, identification and treatment) | Accounting for goodwill and gains (identifying goodwill, accounting requirements for goodwill, the full goodwill option, treatment of bargain purchase transactions resulting in a gain) | Tax considerations (initial recognition of deferred tax assets and liabilities, treatment of deferred tax benefits recognised subsequent to acquisition) | Provisional initial accounting and subsequent changes in valuation | Identification and treatment of reverse acquisitions | Issues relating to noncontrolling interests (identification, business combinations achieved in stages, the full goodwill method and application to partial acquisitions, step acquisitions – control through two or more investments, step dispositions – disposal of partial interest with control retained, financial statement presentation, earnings per share) | Disclosure requirements | Related amendments to other standards | Effective date and implications | Current status of the IASB Discussion Paper on fair value measurement and its potential effect on business combinations.
This course is designed to present the upcoming changes from current practice and presumes a fundamental understanding of accounting for business combinations. Delegates who would benefit from training on current accounting requirements are encouraged to consider attending Course 1230: IFRS Business Combinations Accounting Workshop (2-day course) prior to Course 1235.
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1245: IFRS Consolidations Workshop (2-day course)
This two-day interactive workshop provides delegates with a comprehensive understanding of IAS 27 Consolidated and Separate Financial Statements, as well as providing relevant knowledge of IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures. The programme also includes the accounting and disclosure requirements relating to consolidation of foreign operations under IAS 21 The Effects of Changes in Foreign Exchange Rates. Course topics, presented through the use of practical examples, exercises, and case study, include: Consolidation requirements and methodology | Determining control | Accounting for noncontrolling (minority) interests | Eliminating entries | Reporting dates and accounting policies | Consolidating special purpose entities | Consolidating investments in associates and equity method investments | Application of the proportional consolidation method | Consolidation effects relating to each type of joint venture | Consolidating foreign currency financial statements | Financial statement translation | Treatment of goodwill and fair value adjustments on initial recognition | Intra-group trading transactions | Transfer of assets within the group and unrealised profit | Monetary items forming part of a net investment in a foreign operation | Intra-company dividends | Disposal of foreign operations | Tax effects of financial statement translation and foreign currency transactions | Cash flow reporting | Financial reporting | Presentation and disclosure | Requirements relating to separate financial statements.
In addition, delegates are brought up-to-date with new developments including the Exposure Draft on Joint Arrangements and the revisions to IAS 27, IAS 28 and IAS 31 resulting from the new Business Combinations standard. Course participants also learn the latest developments and tentative conclusions of the IASB project on consolidation and special purpose entities.
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1260: IFRS Accounting for Taxes, Provisions, Contingencies & Financial Liabilities (2-day course)
This two-day course provides a comprehensive review of IFRS requirements for recognition, measurement and disclosure of liabilities. Course topics, presented through the use of exercises, illustrative financial statements, and case studies, include: Provisions | Contingencies | Criteria for liability recognition | Identifying ‘obligating events’ | Determining probability and amount of payment | Present value | Dealing with risks and uncertainties | Commitments | Third-party reimbursements | Changes in contingent liabilities or provisions | Provisions for restructuring, including rules for restructuring associated with a business combination | Asset retirement obligations | Warranties and other sales-related obligations | Refunds and allowances | Events after the balance sheet date | Financial liabilities | Distinguishing debt from equity | Classification of compound instruments | Offsetting assets and liabilities | Off-balance sheet debt | Recognition and derecognition criteria | Disclosure of fair value and key assumptions | Revised IAS 32 Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation | Income taxes | Principles of the required balance sheet liability method | Determination of temporary differences and tax base | Recognition of current and deferred tax assets & liabilities | Exceptions to the recognition rules | Measurement issues | Specific tax-issue transactions (government grants, leases, pensions, share-based payment, asset revaluation, investment property, financial instruments) | Business combinations | Tax treatment in consolidated financial statements | Tax effects of intra-group transactions | Foreign currency tax issues | Tax presentation & disclosure requirements.
In addition, we will bring you up to date with the relevant requirements of IFRS 7 Financial Instruments: Disclosures, the Exposure Draft of IAS 37 resulting from the Business Combinations project, and the current status of the convergence project affecting IAS 12.
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1270: IFRS and US GAAP Accounting for Restructurings and Discontinued Operations
This one-day course includes comprehensive coverage of both IFRS and US GAAP accounting for discontinued operations and restructurings. Topics covered for discontinued operations include: Scope of the standards (assets and operations, exclusions) | Definitions and identification (IFRS and US GAAP) | Non-current assets held for sale | Disposal groups | Discontinued operations | Components to include and exclude | Classification requirements (held for sale criteria, exceptions and grey areas) | Measurement (at initial classification, at first balance sheet date, in subsequent periods, changes in group assets and liabilities, gain/loss recognition) | Financial statement presentation (balance sheet, income statement, cash flow statement, income tax considerations) | Disclosure | Interim reporting | Operations subsequently retained (measurement issues, presentation and disclosure). Restructuring topics include: Recognition (IFRS and US GAAP) | Activities that qualify as restructuring | Timing of recognition | Criteria for recognition | Provision measurement (IFRS and US GAAP) | Initial valuation | Methods and considerations | Subsequent period adjustments | Identification and accounting for specific costs | Termination benefits (IFRS and US GAAP) | Contract termination costs | Other costs | Financial statement presentation and disclosure | Restructurings and discontinued operations associated with business combinations (IFRS and US GAAP) | Impact of the new business combinations standard.
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1280: IFRS Accounting for Pensions, Other Employment Costs & Share-Based Payments (2-day course)
This two-day course includes comprehensive coverage of pension accounting, other employee benefits and share-based payments under IAS 19 and IFRS 2. IAS 19 topics, presented through the use of examples, cases, and illustrative financial statements, include: Treatment of short term employee benefits (wages, salaries, compensated absences, fringe benefits, benefits in kind, bonuses) | Termination benefits | Deferred compensation | Pension plans | Classification of pension plans | Accounting for defined benefit and defined contribution pension plans | State plans | Business combination recognition requirements | Determining current pension expense and related assets and liabilities | Utilising the ‘corridor’ approach to amortise actuarial gains & losses | Treatment of settlements and curtailments | Other post-employment benefits | Disclosure requirements | Illustrative presentations | Methods available for first-time adopters | Brief comparison to US GAAP. In addition we will bring you up-to-date with recent amendments to IAS 19 due to the Convergence Project and proposed changes to IAS 19 resulting from Phase II of the Business Combinations Project. Programme coverage includes the recent amendment to IAS 19 Actual Gains and Losses, Multi-employer Plans and Disclosures.
IFRS 2 is the standard on accounting for equity compensation such as share options and other share-based payment transactions. Related topics, presented via case studies, examples, and financial statements, include: Scope of IFRS 2 Share-based Payment | Accounting for share-based payments (including treatment of vesting conditions, modifications, cancellations and settlements) | Equity-settled share-based payment transactions | Cash-settled share-based payment transactions | Transactions with settlement alternatives | Measuring the fair value of equity instruments | Valuation techniques | Inputs to an option pricing model | Selection of an option pricing model (Black-Scholes, Monte Carlo, other models) | Disclosure requirements | Illustrative presentations | Transition and methods available to first-time adopters | Latest developments including: IFRIC 11 IFRS 2 – Group and Treasury Share Transactions | IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction | Amendment to IFRS 2 concerning amendments for vesting conditions and cancellations (January 2008, effective January 2009) | Exposure Draft: Proposed amendments to IFRS 2 and IFRIC 11– Group Cash-settled Share-based Payment Transactions | Current status of the IASB Discussion Paper on fair value measurement | Overview of the IASB Discussion Paper - Preliminary Views on Amendments to IAS 19 (March 2008) | Brief comparison to US GAAP.
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1285: Actuarial Concepts in Pensions and Employee Benefits
This one-day course includes comprehensive coverage of the elements needed to understand basic actuarial concepts and to link the actuarial report with the accounting principles applied in both IFRS (IAS 19) and US GAAP (FAS 87, 88, 132, 158, etc.) and their respective pension and benefit-related disclosures.
Course topics, presented through the use of examples, model statements, and case study, include: Actuarial terminology | General actuarial concepts | Actuarial concepts in pensions | Recognising and understanding the differences between defined benefit and defined contribution plans | Actuarial assumptions and other assumptions | Technical aspects of actuarial valuations | Assets | Liabilities | Cost components | Understanding actuarial gains/losses | Understanding the actuarial report and linking the actuarial report with the accounting disclosures.
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1290: IFRS Asset Valuation & Impairment (2-day course)
This two-day course focuses on the specific measurement requirements for each type of asset, and the resulting impact on profit and loss. Course topics, presented through the use of exercises, illustrative financial statements, models, and case studies, include: Measurement bases | Fair value | Inventories | Property, plant & equipment | Leased assets | Intangible assets | Financial instruments | Investment property | Measurement requirements and alternatives for first-time adoption of IFRS | Measurement of assets acquired in a business combination | Non-current assets held for sale | Measurement of significant influence and joint venture assets | Impairment of assets | Asset valuation disclosures | IFRIC 10 Interim Financial Reporting and Impairment | Current status of the IASB Discussion Paper on fair value measurement.
Our expert instructors also explain the Discussion Paper prepared by the staff of the Canadian Accounting Standards Board relating to measurement on initial recognition. This paper evaluates possible measurement bases (historical cost, current cost, fair value, net realisable value, value in use and deprival value) against criteria derived from the IASB Framework, as well as covering developments in finance theory, present value and statistical probability principles, and measurement practices.
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1295: IFRS Accounting for Property, Plant and Equipment
This one-day course provides an in-depth review of IFRS accounting and disclosure requirements relating to property, plant and equipment. Our expert instructors explain and illustrate the technical and practical issues that may arise when accounting for such assets, including: Definitions and scope of IAS 16 | Recognition of property, plant and equipment | Recognition criteria | Identifying assets and parts of assets | Spare parts, stand-by equipment, and servicing equipment | Guidance on initial measurement | Elements of cost | Measurement of cost | Exchange transactions | Interest capitalisation (IAS 23) | Asset retirement obligations | Assets purchased with a cash flow hedge of a forecast transaction (IAS 39) | Assets acquired under a government grant (IAS 20) | Treatment of cost subsequent to acquisition | Replacing parts of an asset | Changes in decommissioning and restoration costs (IFRIC 1) | Measurement after initial recognition – cost model and revaluation model | Depreciation of property, plant and equipment | Identifying an asset or part of an asset to be depreciated | Allowed depreciation methods | Depreciable amount and residual value | Useful lives | Accounting for changes in estimate | Accounting for changes in depreciation methods | Start of depreciation | Idle assets and facilities | Fully depreciated assets | Amortisation of leasehold improvements | Investment property (IAS 40) | Assets held for sale (IFRS 5) | Impairment of property, plant and equipment (IAS 36) | Identifying an asset that may be impaired | Measuring recoverable amount | Recognising and measuring an impairment loss | Cash-generating units | Reversing an impairment loss | Asset disposals | Current Status of the IASB Discussion Paper on Fair Value Measurement | Balance sheet presentation | Disclosures.
The programme also contains guidance on issues not specifically addressed in IFRS, including: Accounting policy and minimum capitalisation | Cost of items to treat environmental contamination | Lump-sum purchase of a group of assets | Capitalising construction overheads | Applying group and composite depreciation | Techniques for short-lived, low-cost assets (tools, dies, utensils, etc.) | Accounting for returnable containers | Treatment of composite depreciation disposals | Treatment of involuntary asset losses.
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1300: IFRS and US GAAP Valuation of Brands and Other Intangible Assets
This course has been developed in association with Intangible Business Ltd. (www.intangiblebusiness.com), a specialist brand valuation, strategy and development consultancy. It focuses on the approaches that may be used to identify and value intangible assets in accounting for business combinations. The programme also covers other important intangible-related valuation issues such as impairment.
The one-day programme covers the following topics using models, examples, real-world illustrations, and case study: Governing guidelines (IFRS, US GAAP, valuation standards, other regulations, normal practice) | Standard of value (fair value, market value) | Identifying the intangible assets (criteria for recognition, how to identify, checklists) | Valuation methodologies (income approach, market approach, cost approach) | Case study (outlining the valuation of intangibles and associated issues for a business acquisition) | Lives of intangible assets (significance, template) | Impairment (intangible assets, goodwill) | Residual goodwill (justification, synergies, intangible assets not meeting recognition criteria, others) | Key differences IFRS 3 to SFAS 141 (impairment, write back of prior impairments, goodwill disclosure) | Summary of key overall issues.
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1310: IFRS and US GAAP Revenue Recognition
This one-day course presents the information needed to navigate complex issues surrounding the recognition and measurement of revenue under both IFRS and US GAAP, an area closely scrutinised by regulators such as the SEC in the US and the Financial Reporting Review Panel in the UK. Utilising extensive examples and real-world case studies, the programme covers: IAS 18 =i:[Revenue] | IFRIC 13 =i:[Customer Loyalty Programmes] | IFRIC 15 =i:[Agreements for the Construction of Real Estate] | Relevant FASB requirements | SEC criteria for revenue recognition | Revenue with right of return | Delivery and 'substantial performance' | Multiple-element contracts | Gross versus net reporting (including presentation of taxes collected and remitted) | Round tripping | Barter transactions | Deferred payments (discounting) | Sale and repurchase agreements | Bill and hold sales | Vendor consideration given to a customer | Service provider consideration given to a manufacturer or reseller | Reimbursements for out-of-pocket expenses | Nonrefundable advance payments received | Effect of fair value measurement | Accounting for collaborative arrangements | Accounting for the sale of real estate subject to a buy-sell clause | Recent revenue recognition abuses.
The programme also includes the latest developments, including an update on the IASB-FASB joint project on revenue recognition and new changes to financial statement presentation.
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1320: IFRS and US GAAP Accounting for Lessors
This one-day course provides an in-depth review of the accounting and disclosure requirements of IFRS and US GAAP relating to lease accounting by lessors. Utilising examples, case studies, and financial statements, our expert instructors explain and illustrate the technical and practical issues that may arise when accounting for leases, including: Definition of a lease | Lease accounting scope and exclusions | Multiple-element arrangements | Classification of finance (capital) and operating leases | Leveraged leases | Leases involving land | Present value considerations | Lease modifications | Inception of the lease and commencement of the lease term | Accounting for finance (capital) leases | Executory costs | Contingent rentals | Lease penalties | Initial direct costs | Residual value | Lease terminations and sales | Financial statement presentation | Sales-type leases | Direct financing leases | Operating leases | Lease incentives | Sale and leaseback transactions | Leases between related parties | Accounting for leases in a business combination | Lease transactions involving special-purpose entities | Lease disclosures | Status of the IASB-FASB lease project | Future developments.
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1325: IFRS and US GAAP Accounting for Lessees
This one-day course provides an in-depth review of the accounting and disclosure requirements of IFRS and US GAAP relating to lease accounting by lessees. Utilising examples, case studies, and financial statements, our expert instructors explain and illustrate the technical and practical issues that may arise when accounting for leases, including: Definition of a lease | Lease accounting scope and exclusions | Multiple-element arrangements | Classification of finance (capital) and operating leases | Leases involving land | Present value considerations | Lease modifications | Inception of the lease and commencement of the lease term | Accounting for finance (capital) leases | Executory costs | Fair value factors | Bargain purchase options and renewals | Determining minimum lease payments | Estimating economic life | Contingent rents | Interest rate implicit in the lease and incremental borrowing rate | Residual value | Lease terminations | Guarantees and indemnifications | Financial statement presentation | Operating leases | Lease incentives | Scheduled rent increases | Sale and leaseback transactions | Leases between related parties | Subleases | Leases acquired in a business combination | Lease transactions involving special-purpose entities | Lease disclosures | Future developments.
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1400: Meeting IFRS Disclosure and Presentation Requirements (2-day Workshop)
This two-day course focuses on developing the skills to effectively comply with both current and upcoming IFRS disclosure requirements. Participants will learn about IFRS presentation and disclosure requirements in detail, including those most recently issued, as well as new rules that are anticipated in the near future. Illustrations and exercises are used throughout the programme to enhance and reinforce learning. Course topics include:
Presentation of the balance sheet/statement of financial position, income statement/statement of recognised income and expense, cash flow statement/statement of cash flows and statement of changes in equity (including revised IAS 1 Presentation of Financial Statements - statement of comprehensive income) | Disclosure of accounting policies and policies of financial risk management (IFRS 7 Financial Instruments: Disclosures) | Correction of errors and changes in estimates | Disclosure of critical accounting estimates and judgements | Interim financial reporting | Disclosures in respect of assets and liabilities: Property, plant & equipment, Intangibles, Impairment of assets, Financial assets and liabilities (including hedging, derivatives and requirements in accordance with IFRS 7) | Share capital (including Capital Disclosures required by IAS 1) | Employee benefits | Provisions, | Share-based payment| Income taxes | Specific topics such as First-time adoption of IFRS, Business combinations and consolidation, Segment reporting (IAS 14 and IFRS 8), Earnings per share, Discontinued operations and non-current assets held for sale, Events after the balance sheet date, Related party transactions, and Foreign currency | Expected future developments relating to presentation and disclosure.
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1405: IFRS Preparation of Cashflow Statements Under IAS 7
This one-day course is a guide through the technical issues involved in preparing and analysing the statement of cash flows under IFRS, with a comparison to US GAAP requirements. The programme is intended for both preparers and users of financial statements. The course covers, through the use of case studies and real-world financial statements: Purpose of the statement of cash flows | Reporting requirements and entity applicability | Format of the statement (operating, investing, financing sections) | Cash and cash equivalents (definition, policy requirements) | Treatment of bank overdrafts | Presentation methods (direct & indirect) | Gross and net cash flows (criteria and guidelines for netting) | Classifying cash flows | Allowable alternative treatments (dividends, interest, taxes) | Treatment of foreign currency cash flows | Non-cash investing and financing activities | Asset-related government grants | Cash flows from investments in subsidiaries, associates and joint ventures | Acquisitions and disposals of subsidiaries and other business units | Reporting discontinued operations cash flows | Interim cash flow reporting | Disclosure requirements.
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1500: IFRS First-time Adoption Workshop (2-day course)
This two-day workshop provides a comprehensive look at IFRS 1, First-time Adoption of International Financial Reporting Standards. Using real-world examples, case studies, model financial statements and checklists, this workshop enables delegates to understand the more complex issues facing first-time adopters. The course topics include: General principles of IFRS 1 concerning recognition, measurement and the retrospective approach | Mandatory exceptions to the general principles including: Use of estimates; Derecognition of financial assets and financial liabilities; Hedge accounting; and Non-controlling interests | Strategies for the use of voluntary exemptions including: Business combinations; The use of fair value or revaluation as deemed cost; Employee benefits; Cumulative translation differences; Compound financial instruments; Investments in subsidiaries, jointly controlled entities and associates at deemed cost; Assets and liabilities of subsidiaries, jointly controlled entities and associates; Designation of previously recognised financial instruments; Share-based payment transactions; Insurance contracts; Decommissioning liabilities included in the cost of property, plant and equipment (IFRIC 1); Leases – rights of use (IFRIC 4); Fair value measurement of financial assets or financial liabilities at initial recognition; Service concession arrangements; and Borrowing costs | Presentation and disclosure requirements. Other specific issues include: Accounting policy selection, including review of available alternatives | Fair value measurements at the date of transition to IFRS | Impairment testing, with an emphasis on evaluation of goodwill | Requirements for the use of hedge accounting | Consolidation | Reporting liabilities (deferred tax, provisions, leases, pensions) | Press releases and interim reporting | Amendment to IFRS 1 First-time Adoption of IFRS and IAS 27 Separate and Consolidated Financial Statements, relating to cost of an investment on first-time adoption (May 2008, effective January 2009).
Course participants will also learn about managing the IFRS transition process | Planning the project | Involving the whole business | Staff training | Implementing the changes | Collecting the data | Operating parallel reporting systems. This valuable programme includes discussion of real-world experiences in transitioning to IFRS and answers to implementation questions.
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1605: IFRS Accounting for Extractive (Oil & Gas, Mining) Industries (2-day course)
This two-day course focuses on the specific accounting and reporting requirements for extractive industries (oil, gas, and mining). Topics, presented through the use of practical examples and illustrative financial statements, include: IFRS 6 Exploration for and Evaluation of Mineral Resources | Cost elements of exploration and evaluation assets | Initial and subsequent measurement of exploration and evaluation assets | Changes in accounting policies | Classification of assets as property, plant and equipment vs. intangible | Disclosure requirements | Transitional provisions | IAS 16 Property, Plant and Equipment | Provisions for dismantling and restoration costs | IAS 36 Impairment of Assets | IAS 38 Intangible Assets | Depreciation and amortisation rules | Update on the IASB’s project for extractive industries | Overview of US GAAP guidance for extractive industries | Hedge accounting | Practical examples and illustrative financial statements.
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1610: IFRS Oil & Gas Accounting Workshop
This one-day hands-on workshop focuses on exploring and explaining in greater depth the accounting and reporting requirements for the oil and gas industry that are introduced in Course 1605 IFRS Accounting for Extractive (Oil & Gas, Mining) Industries (2-day course). Topics include: IFRS 6 – Implementation issues | Impairment (worked example, review of published disclosures) | Site rehabilitation and environmental costs (worked example, review of published disclosures) |
Changes in accounting policies (discussion of issues, review of published disclosures) | Disclosures (financial disclosures, reserve quantities, qualitative disclosures) | Joint ventures (discussion of accounting and governance issues, worked examples, audits, Exposure Draft on Joint Venture Arrangements) | Production sharing agreements (discussion of the nature of PSAs, accounting issues regarding PSAs).
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1615: Mgt. Accounting and Production Sharing Agreements for the Oil & Gas Industry
This one-day course focuses on the management accounting and reporting issues facing companies in the international oil and gas industry, both generally and with particular reference to the conduct of operations under production sharing agreements.
Course topics, presented using numerous worked examples, include: Characteristic features of the oil and gas industry (scale of operations, nature and timing of cash flows, risks, determination of success) | Accounting issues in the oil and gas industry (capitalisation vs. expense, exploration costs, depreciation, impairment, site restoration costs, revenue recognition, reserve quantities) | Management accounting issues (relationship of management accounting to external financial reporting, selection of management accounting policies, identifying the audience(s) for management accounting information, creating a chart of accounts, selecting cost centres, selecting cost elements, expenditure reporting vs. commitment reporting, reporting expenses, reporting capital expenditures) | Management accounting procedures (detail of reporting, frequency of reporting, overhead allocation, responsibility accounting, introduction to joint venture accounting issues) | Production sharing agreements (nature of production sharing agreements, comparison with other risk sharing arrangements, typical provisions of a PSA) | Accounting and reporting under production sharing agreements (typical provisions of PSA accounting procedures, allowable and non-allowable expenditure, cost recovery, profit oil and gas, ownership of assets, non financial information and reporting) | Reconciliation issues (between external financial reporting and internal management accounts, between internal management accounting and PSA accounts, treatment of tax, treatment of activities outside the scope of PSA, audit, benefits of convergence).
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1620: IFRS and US GAAP Joint Venture Accounting for the Oil & Gas Industry
The purpose of this one-day course is to provide an introduction to both the external and internal accounting issues confronting participants in oil and gas joint ventures. Course topics, presented using numerous worked examples, include: Characteristic features of the oil and gas industry (scale of operations, nature and timing of cash flows, risks, determination of success) | The nature of joint ventures and reasons why oil and gas companies participate in them | Typical provisions of joint venture agreements | IAS 31 Interests in Joint Ventures | US and UK GAAP requirements regarding joint ventures | Relationship between operator and non-operator participants | The financing of joint ventures (billing statements and cash flow reporting) | Reporting of expenditures | Budgets and approvals | Cost allocation methods and issues | Revenue recognition and over & under-lifting | Unitisations and adjustment of interests | Audits | Overview of the IASB Joint Arrangements exposure draft.
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1625: IFRS for the Oil & Gas Industry (3-day course)
This three-day course focuses on the specific accounting and reporting requirements that affect the international oil and gas industry. Topics covered by means of tutorials, practical examples and illustrations from published financial statements include: The distinctive features of the oil and gas industry | Summary of accounting issues in the industry | IASB extractive industries project | Exploration and evaluation (IFRS 6 =i:[Exploration for and Evaluation of Mineral Resources], full cost accounting, successful efforts accounting) | Property, plant and equipment | Impairment of assets | Decommissioning costs and site restoration | Joint ventures | Production sharing agreements, including internal accounting and external financial reporting issues | Reserves and other disclosures | Hedge accounting | Selecting and amending accounting policies | Comparison between IFRS and US and UK GAAP | Worked examples and opportunities for discussion.
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1650: IFRS for Manufacturing Industries (2-day course)
This two-day course examines international financial reporting issues in detail and their effect on manufacturing companies. The programme includes case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Presentation issues | Consolidation requirements | Treatment of variable interest and special purpose entities | Changes in accounting principle | Discontinued operations | Segment reporting | Long-lived assets | Asset retirement obligations | Held for sale assets | Capital and operating leases | Accounting for research and development | Other intangible assets | Indefinite-life intangible assets | Impairment indicators | Accounting for impairment | Inventory | Cost components (including interest capitalisation) | Valuation methods | Recoverable material | Logistics charges | Consumable production items | Tooling amortisation | Customer supplied inventory | Duties and license fees | Supplier rebates | Supplier price adjustments | Non-standard production activities | Indicators of impairment | Measuring and recognising impairment | Financial assets & liabilities | Categories of financial assets and accounting methodology by type | Derivatives | Hedge accounting | Treatment of equity method investments | Debt vs. equity identification and reporting | Provisions and contingencies | Allowance for bad debts | Warranties | Indemnification | Litigation and claims | Restructuring charges | Other provisions and contingencies | Revenue recognition issues | Allowances and discounts | Price protection | Right of return | Repurchase options | Marketing incentives | Shipping charges | Other current revenue issues | Employee compensation | Short-term compensation | Pension measurement, recognition and reporting | Other post-retirement benefits | Share-based payment | Acquisitions | Review of accounting for acquisitions | Overview of the new business combinations standard and impending changes | Recent and upcoming issues | Recently issued standards, interpretations and their impact on manufacturing companies | Proposed IFRS changes that will affect the manufacturing sector | IFRS-US GAAP convergence update | IASB projects and plans of interest to manufacturers.
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1660: IFRS for the Telecommunication Sector (2-day course)
This two-day course examines international financial reporting issues in detail and their effect on telecommunication entities (telecoms). The programme includes case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Internally generated software | Telecommunication licences | Construction cost of network (financing cost, site selection costs, network planning, dismantling and restoration costs) | Long-lived assets (component approach, start of depreciation, depreciation method and period) | Indefeasible rights of use and capacity arrangements | Impairment indicators in the telecom industry | Defining cash generating units | Calculating recoverable amounts | Valuation of handsets | Inventory versus marketing costs | Bundled (or multi-element) arrangements | Handset sales/Sales of modems | Prepaid revenue | Loyalty schemes/Free minutes | Principal-agent arrangements (agreements with content providers and other third parties) | Interconnect arrangements | Activation costs/Customer acquisition costs/Subscription fees | Recently issued standards, interpretations and their impact on telecommunication firms | Proposed IFRS changes that will affect the sector | IFRS-US GAAP convergence update | IASB projects and plans of interest to telecommunication entities.
Note: This course is endorsed by CIMA, within the Focus on series, as suitable for CIMA members, their staff and colleagues.
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1670: IFRS for the Pharmaceutical Industry (2-day course)
This two-day course examines international financial reporting issues in detail and their effect on pharmaceutical entities. The programme includes case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Review of IAS 38 Intangible assets | When to start capitalising internal development costs | How to treat development costs for generics | Expenditures to consider for capitalisation | Treatment of borrowing costs, patent protection costs, etc. | Development of own intellectual property | Treatment of advertising and promotional expenditures | Determining useful economic lives, start of amortisation, methodology | Examples of indefinite-life intangible assets | Impairment indicators | Revenue recognition | Review of IAS 18 and IAS 11 | Upfront payments, royalties, milestones, non-refundable fees, etc. | Gifts | Treatment of long-term research arrangements | Treatment of multi-element collaboration agreements | Co-marketing expenses and income | Inventories | Indicators of impairment | Measuring and recognising impairment losses | Treatment of trial and validation batches | Review of IFRS 2 Share-based Payment (including equity and cash-settled transactions) | Receipt of listed and unlisted shares in exchange for a product, a patent, other goods or services | Presentation issues | Segment reporting | Recently issued standards, interpretations and their impact on pharmaceutical firms | Proposed IFRS changes that will affect the sector | IFRS-US GAAP convergence update | IASB projects and plans of interest to pharmaceutical entities.
Note: This course is endorsed by CIMA, within the Focus on series, as suitable for CIMA members, their staff and colleagues.
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1680: IFRS for the Information Technology (IT) Sector (2-day course)
This two-day course examines international financial reporting issues in detail and their effect on information technology companies. The programme includes case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Presentation issues | Consolidation requirements | Treatment of variable interest and special purpose entities | Presenting costs by nature or by function | Segment reporting | Long-lived assets | Accounting for property, plant and equipment | Capital and operating leases | Intangible assets | Intellectual property rights | Patent licensing | Research and development | When to start capitalising internal development costs | Which expenditures to consider for capitalisation | Development of own intellectual property | Determining useful economic lives, start of amortisation, methods, etc. | Examples of indefinite-life intangible assets | Impairment indicators and accounting for impairment | Inventory | Indicators of impairment | Measuring and recognising impairment losses | Accounting for impairment | Financial assets and liabilities | Categories of financial assets and accounting methodology by type | Hedge accounting | Treatment of equity method investments | Debt vs. equity identification and reporting | Provisions and contingencies | Warranties | Intellectual property infringement indemnification | Litigation | Restructuring charges | Other provisions and contingencies | Revenue recognition issues | Allowances and discounts | Price protection | Right of return | Shipping charges | Other current revenue issues | Employee compensation including equity incentive plans | Short-term compensation | Pension measurement, recognition and reporting | Share-based payment | Expenditure issues | Cooperative advertising | Vendor payments | Acquisitions | Identification and treatment of goodwill | Acquisition of development-stage technologies | Overview of the new business combinations standard | Upcoming issues | IT relevant Exposure Drafts | IFRS-US GAAP convergence update | IASB projects and plans.
Note: This course is endorsed by CIMA, within the Focus on series, as suitable for CIMA members, their staff and colleagues.
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1690: IFRS for Not-for-Profit Entities (2-day course)
This two-day course examines international financial reporting issues in detail and their effect on not-for-profit (non-profit) entities. The programme includes case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Financial statement presentation and disclosure issues | Consolidation requirements | Financial statement requirements | Reporting by function and by nature | Temporarily restricted, permanently restricted and unrestricted assets | Discontinued operations | Commitments and contingencies | Grant disclosures | Cash and cash equivalents (components, policy, classification) | Receivables (membership, allowance for bad debts, contributions, other) | Inventory (cost components, valuation methods, accounting for impairment) | Long-lived assets (costs to capitalise, depreciation and useful lives, special treatment assets, held for sale assets, accounting for impairment, website development, capital and operating leases) | Financial assets and liabilities (categories of financial assets and accounting methodology by type, financial liability accounting, disclosures) | Revenue | Public support, (direct and indirect) | Contributions (pledges, donated materials and services, special events and membership dues) | Conditional promises to give | Other revenue (inventory sales, service fees, restriction releases, etc.) | Unrelated business taxable income | Grants (recognition and measurement, non-monetary grants, restricted grants, grants related to assets – alternative presentation methods, repayment of government grants, low-interest rate loans and other government assistance) | Expenses | Program services | Fundraising (including gross vs. net presentation) | Membership development | Operations | Direct and indirect costs | Joint costs allocation | Indirect costs allocation (methods and rates) | Excess benefits transactions | Functional expense classification | Defining and documenting programmatic expenses | Employee compensation (short-term compensation , pension measurement, recognition and reporting, other post-retirement benefits, disclosures) | Recently issued standards, interpretations and their impact on not-for-profit entities | Proposed IFRS changes that will affect the non-profit sector | IFRS-US GAAP convergence update | IASB projects and plans of interest to non-profits entities.
Note: This course is endorsed by CIMA, within the Focus on series, as suitable for CIMA members, their staff and colleagues.
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1700: IFRS for the Energy Industry (2-day course)
This two-day course examines in detail international accounting issues and their effect on energy companies. Topics, presented through the use of case studies, examples, exercises, and illustrative financial statements, include: Impact of first-time adoption of IFRS | Recently issued standards, interpretations and their impact on energy companies | Proposed IFRS changes that will affect energy companies | Production sharing arrangements vs. concession rents | Property, plant and equipment | Contributed capital | Borrowing costs | Intangible assets | Provisions, contingent liabilities and contingent assets | Impairment of assets | Asset retirement obligations | Transportation agreements | Customer acquisition costs | Long-term fuel purchase and sale contracts | Derivative treatment for energy contracts (including 'own use' exemption) | Tolling contracts | Emission rights trading | Transmission contracts and regulated access | Service concession arrangements, rights of use and lease accounting | Revenue recognition issues | Business combinations and consolidation issues | Risk management via trading and hedge accounting | 'Stand alone' and 'embedded' derivatives | IFRS vs. US / Canadian GAAP.
Note: This course is endorsed by CIMA, within the Focus on series, as suitable for CIMA members, their staff and colleagues.
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1710: IFRS for the Real Estate Sector (2-day course)
This two-day course examines international financial reporting issues with a more in-depth review of those that are specific to the real estate industry. Extensive use of case studies is made to explain learning material and to reinforce knowledge. In addition to covering all significant IFRS, the course includes a more detailed review of the following topics most pertinent to real estate entities: IAS 11 =i:[Construction Contracts] | IAS 12 =i:[Income Taxes] | IAS 14 =i:[Segment Reporting], IFRS 8 =i:[Operating Segments] | IAS 16 =i:[Property, Plant and Equipment] (including cost , component approach, initiating depreciation, depreciation method and period, assets under development, cost model vs. revaluation model) | IAS 17 =i:[Leases] (including classification of leases, treatment by the lessor, lease incentives, service costs, contingent rents, sale and lease-back arrangements, derivatives embedded in lease agreements) | IAS 18 =i:[Revenue] | IAS 23 =i:[Borrowing Costs] | IAS 36 =i:[Impairment of Assets] | IAS 40 =i:[Investment Property] (including definition of investment property, initial measurement, directly attributable expenditures, cost model vs. revaluation model, determination of fair value, presentation of changes in fair value) | Overview of IFRS 1 =i:[First-time Adoption of International Financial Reporting Standards] | Consolidation, investments in associates and joint ventures (IAS 27, IAS 28 and IAS 31) | IFRIC Interpretation 15 =i:[Agreements for the Construction of Real Estate] | Detailed review of presentation of accounts under IFRS as recommended by EPRA including review of best practices recommended by EPRA | Review of model financial statements under IFRS | Review of IFRS financial statements of real estate entities.
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1720: IFRS for the Agricultural Industry
This one-day course examines international financial reporting issues in detail and their effect on agricultural entities. Topics, presented through the use of examples, case studies, and illustrative financial statements, include: An overview of IFRS including general principles (Framework, IAS 8 Accounting policies, changes in accounting estimates and errors, IAS 10 Events after the balance sheet date, IAS 18 Revenue recognition) | Agriculture (IAS 41) including scope, agriculture-related definitions, recognition and measurement of biological assets and agricultural produce, fair value versus cost, treatment of point-of-sale costs, hierarchy in fair value measurement, frequency of fair value measurement, independent valuation, inability to measure fair value reliably, gains and losses, land related to agricultural activity, subsequent expenditures, government grants related to biological assets, disclosures and presentation | Disclosure requirements (IAS 1 Presentation of financial statements, IAS 7 Cash flow statements, IAS 14 Segment reporting and IFRS 8 Operating segments, IAS 24 Related party disclosures, IAS 33 Earnings per share, IAS 34 Interim financial reporting, IFRS 5 Non-current assets held for sale and discontinued operations) | Employee Benefits (IAS 19) | Share-based payment (IFRS 2) | Business combinations (IFRS 3) | Consolidation, including associates and joint ventures (IAS 27, IAS 28 and IAS 31) | Income taxes (IAS 12) | Financial instruments (IAS 32/39 and IFRS 7) | Provisions, contingent liabilities and contingent assets (IAS 37) | Intangible assets (IAS 38) | Leases (IAS 17) | Investment property (IAS 40) | Property, plant and equipment (IAS 16) including elements of cost, component approach, initiating depreciation, depreciation method and period, assets under development, cost model versus revaluation model, borrowing costs, government grants, impairment of assets | Inventories (IAS 2) including scope, measurement, recognition | Discussion of an agricultural entity's IFRS financial statements.
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1730: IFRS and US GAAP for the Construction Industry
This one-day course examines international financial reporting issues and their effect on entities in the construction industry. The programme is presented using case studies and financial statements that illustrate the real-world application of financial reporting requirements. Topics include: Types of construction contracts (fixed price contracts, cost-plus contracts) | Combining and segmenting contracts (general guidance, conditions for combination, conditions for segmentation) | Measuring contract revenues and costs (contract revenues, contract costs) | Percentage-of-completion accounting method (recognising revenues and costs, measuring progress, recognising changes in estimates, accounting for claims and change orders, treatment of anticipated losses, financial statement presentation, interim reporting) | Completed contract method for US GAAP purposes | Accounting for closed or terminated contracts | Disclosures | Recently issued standards, interpretations and their impact on construction firms | Proposed changes that will affect the construction sector | IFRS-US GAAP convergence update | IASB-FASB projects and plans of interest to construction companies.
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1740: IFRS Accounting for Banks and Other Financial Institutions (2-day course)
This highly interactive two-day course explores international financial reporting practices for banks and other financial institutions through the use of case studies, exercises, model financial statements and break-out sessions. Topics include: Regulatory considerations | IFRS 7 Financial Instruments: Disclosures (and brief comparison with the disclosure requirements of Pillar 3 of Basel II) | IFRS financial statements - IAS 1, 7, 8 (including Capital Disclosures and Revised IAS 1 - Comprehensive Income) | Accounting for loans, loan commitments, and impairment under IAS 39 | Classification, recognition, measurement, and derecognition of financial instruments under IAS 39 | Effective interest method under various scenarios | Fair value option | Derivatives and hedging | Property, plant and equipment, including repossessed assets | Recognition of fee income | Brief comparison of IFRS to US GAAP | Illustrative financial statements and disclosures (IFRS and US GAAP) | Discussion of future developments (Exposure Drafts, Draft Interpretations, IASB projects and agenda, convergence update and plans).
In addition, using clear explanations, we will bring you up to date with the current issues and expected pronouncements that are particularly relevant to financial institutions.
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