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IFRS Update and Application Briefing (2 days)
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Introduction

This two-day IFRS Update and Application Briefing is designed for experienced preparers and users of IFRS financial statements. It has two aims

  • To explain clearly the requirements of significant new and amended Standards and Interpretations effective for 2019 and later
  • To share recent practical experience of implementing IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers

The comprehensive course materials also cover all other published amendments to IFRSs and current outstanding Exposure Drafts.

Please note that, given the specialised nature and complexity of IFRS 17 Insurance Contracts, time does not permit in-depth coverage of IFRS 17. For those with a particular interest in insurance, we recommend our three-day program, Insurance Contract Accounting Workshop.

This program provides answers to questions such as:

  • What are the recent and likely future changes to IFRSs?
  • When must they be applied?
  • What are the transitional provisions?
  • How do the new requirements differ from current rules?
  • What are the best ways of implementing these requirements?
  • What are the financial statement and performance reporting implications?

Learning Objectives

  • Be prepared to comply with changes in IFRSs
  • Learn how to implement the latest developments
  • Network and exchange insights with other experienced practitioners
  • Benefit from real-world illustrations and examples of implementing recent Standards
  • Plan ahead for expected future changes

Topics

  • Significant new and amended Standards
    • IFRS 16 Leases (replacing IAS 17 from 2019)
    • IFRS 17 Insurance Contracts (replacing IFRS 4 from 2022)
    • IFRIC 23 Uncertainty over Income Tax Treatments (effective 2019)
  • Recent practical experience of implementing major Standards for 2018
    • IFRS 9 Financial Instruments
    • IFRS 15 Revenue from Contracts with Customers
  • Overview of other amendments to standards, including
    • Annual Improvements 2015-2017 Cycle
    • IAS 1 and 8 Definition of Material
    • IFRS 3 Definition of a Business
  • Current Exposure Drafts
  • Update on latest IASB Work Plan

Teaching Method

  • Group live instruction, cases, examples, group work, open discussions
  • Description and explanation of changes in IFRSs, including implementation requirements and transitional rules
  • Use of illustrative IFRS financial statements and worked examples
  • Interactive participation is encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

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

A reasonable prior knowledge of the technical requirements of IFRSs. No advance preparation is required for this course.