IFRS Workshop for Banks and other Financial Institutions

This three-day program offers invaluable guidance on meeting current and likely future international accounting rules and disclosure requirements. Coverage includes lending and repossessed assets, accounting implications of regulatory requirements, disclosures, and IFRS 13 Fair Value Measurement. The complex requirements of IAS 39 Financial Instruments: Recognition and Measurement are discussed and explained, as well as the classification and measurement, impairment and hedge accounting requirements of IFRS 9 Financial Instruments. Numerous examples and illustrations are provided, including application of the effective interest method under various scenarios, retained servicing, loan commitments and financial guarantees, loan impairment and restructurings, and derivatives and hedging. Where applicable, the aforementioned IFRS accounting rules are contrasted with those under US GAAP.

The theory and application of the standards is demonstrated with illustrative examples, complemented by application of the standards in an interactive group environment utilizing case studies, model financial statements, and practical exercises.

This course answers questions such as:

What are the current and likely future IFRS reporting requirements for financial institutions?
When and how can financial instruments be reclassified?
What are the accounting requirements for loan losses, repossessed assets, and fee income?
How are effective interest rates calculated for various financial instruments?
What rules apply to the recognition, measurement, impairment, and derecognition of financial instruments?
How are the disclosure requirements of IFRS 7 met in practice?
How does the ‘incurred loss model’ of IAS 39 compare with the ‘expected loss model’ of IFRS 9?
What are the other significant changes that will result from applying IFRS 9?
What are the transitional provisions of IFRS 9?

Saket Modi

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