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Accounting for Climate Change (Virtual Classroom)

Course Details

Code:9510v
Select a start date for more details
Virtual Classroom
18 Oct 2021
Level
Overview
CPD
4 Hours
Time
13:00-17:00
Location
Virtual Classroom
Cost
£395.00
Subject to Online Tax From Web (Read more)
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Introduction

This online training is being delivered live in a 4-hour session which runs from 13:00 – 17:00 London (UK).

You can learn more about our virtual, online courses and how they work on our course FAQ page. Or view our Virtual Classroom schedule to see what else is being delivered live in our online classrooms. If you don’t see the Public Financial Management training topic, you are looking for, or if you would like an online classroom in another time zone, please tell us.

Climate change poses a significant risk to the world and its economy. Most industries have been, or are likely to be, affected and need to manage its impact. Investors are increasingly emphasising the importance of ESG (Environmental, Social and Governance) factors, particularly climate-related risk, when making investment decisions. Furthermore, regulators and governmental bodies are ever more focusing on the impact of climate change on financial reporting.

“IFRS Standards do not refer explicitly to climate‑related matters. However, companies must consider climate‑related matters in applying IFRS Standards when the effect of those matters is material in the context of the financial statements taken as a whole.” - IFRS Foundation

This course will explain how companies should consider climate-related matters in applying International Financial Reporting Standards (IFRS) and help them decide how to reflect these matters in their financial reports. It provides an introduction to a topic that is rapidly gaining importance, and will significantly impact financial statements in both the short and longer terms. We will also look into the future for accountants, financial reporting and environmental and social disclosures.

Learning Objectives

  • Explain how existing IFRS requirements already address climate-related matters
  • Explain key considerations for integrating climate-related matters into financial statements applying IFRSs
  • Apply the concept of materiality in considering what climate-related matters are important to financial statement users
  • Identify potential financial implications arising from climate-related risks
  • Identify when additional disclosures are required in the financial statements to enable investors to understand the impact of climate-related matters
  • Consider potential implications for the audit of climate related disclosures.

Who Should Attend

  • Finance department staff involved in the preparation financial statements
  • Regulators who analyse financial statements to ensure compliance
  • Analysts who review financial statements
  • Auditors involved in reviewing financial statements

Topics

  • Application of the concept of materiality in considering what climate-related matters are important to financial statement users
  • Areas of financial reporting likely to be affected by climate-related matters, including:
    • Key estimates and judgements
    • Asset impairment and related issues (e.g., revisions of useful lives and other estimates)
    • Fair value measurements of assets and liabilities
    • Credit risk and estimated credit losses
    • Environmental and other provisions and contingent liabilities
  • Disclosures in the financial statements
  • The link between reporting climate-related matters in the financial statements and other climate-related reporting in the annual report
  • Specific issues that may arise regarding the audit and climate related disclosures

Teaching Method

  • Live group internet instruction in virtual format by specialist instructor
  • Use of case studies and real-world examples to illustrate practical application
  • Interactive participation is encouraged, with all attendees being required to be present on camera for the duration of the sessions
  • All participants receive comprehensive electronic course notes, including presentation slides and handouts
  • This virtual training is being delivered live and online in a session which runs from 13:00 – 17:00 London (UK).

Instructors

The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

Venue

Our seminars take place in 4 star professional conference facilities, generally in city-centre 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.

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

 

Field of study: Accounting

Prerequisites

Basic understanding of accounting under IFRSs. No advance preparation is required for this course.