Programme Objective

This programme will provide a comprehensive overview on recently finalised financial instruments standard, IFRS 9 / FRS 109, which will replace IAS 39 (FRS 39). The seminar will focus most heavily on those revisions that will have the greatest practical impact. The changes will be illustrated and examples of how the new standard differs from IAS 39 will be provided. The standard is effective in 2018. The implementation of the changes required by the standard may take an extensive period of time depending on the organisation and the impact on long dated contracts need to be considered in advance.  

Programme Outline

• Brief overview of the basis for the revisions and desired outcomes
• Classification and measurement
• Nature and characteristics of Financial Instruments
• Classification
• Measurement of financial assets and liabilities
• Impairment
• How the expected loss model differs from the current incurred loss model
• Application of model to different portfolios of amortised cost assets
• Alternative method for non-financial institutions
• Hedge accounting
• Revised testing methodology eliminating the 80-125 rule
• Changes for hedges of non-financial items
• Revisions to allow for simplified hedge effectiveness testing
• Effective date and transitional provisions
• Early adoption
• Need for foresight on new contracts and termination of existing contracts
• Implementation issues to consider

Training Methodology

Closing Date for Registration

Intended For

Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. Other users of financial infor-mation will also find the seminar beneficial.