Course Detail(A216ET : Accounting For Fair Value And Impairment In A Volatile Market)

A216ET : Accounting For Fair Value And Impairment In A Volatile Market

7.00 CPE Hours (Category 1)
Classroom
In Collaboration with:  


Programme Objective
 
Gain practical knowledge of how to apply fair value and impairment in real life and how market volatility may affect your financial statement line items.
 

Programme Outline


Concrete understanding of fair value and impairment is vital to achieving a fair presentation of financial statements. A lot of financial statement line items use fair value as basis of measurement and should be assessed for impairment. Given the increased volatility in the market conditions, any misconception on these areas could have a significant impact to the fairness of your financial reports.
 
As such, regulators become more stringent and included impairment and fair value among the watch list for common pitfalls that they have observed.
 
This full day workshop is designed to tackle the technical concepts of fair value and impairment followed by illustrations on how to practically apply the concepts in the actual world. Since fair value and impairment can be derived using various approach, we will discuss what approach are acceptable and is commonly used in practice. The training includes lots of examples based on actual case scenarios that will engage the participants to raise more questions and to allow practical learning of fair value and impairment application.
 
Morning session – Fair Value
 
Scope and principles of IFRS 13
General principles of selecting valuation techniques
Overall framework of IFRS 13 –step by step Disclosures
 
Practical application and common issues in applying IFRS 13 to:

  • financial instruments
  • investments in associates, joint ventures and subsidiaries
  • business combination
  • inventory
  • property plant and equipment
  • investment property
  • intangible assets
  • biological assets
  • non-financial liabilities
 
Afternoon session – Impairment
 
Objectives and scope of IAS 36
Identifying assets that may be impaired
Annual impairment review for goodwill and certain intangibles
 
The impairment process through practical exercises:
  • Measuring recoverable amount
  • Identifying cash generating units
  • Fair value less cost to sell
  • Calculating value in use
  • Comparing like for like
  • Recognition of impairment losses
  • Future reversals
  • Disclosures
 
Regulators’ comments on impairment
Application of fair value in impairment of non-financial assets
 
Training Methodology
 
Lecture style
 
Closing Date
 
1 week before programme or until full enrolment.

Intended For

CFOs, Finance, Controllers, Supervisors, Accountants, Analysts

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

22 May 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Senthilnathan Sampath

Date & Time

10 Nov 2016 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Senthilnathan Sampath

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Senthilnathan Sampath
Managing Director
 
Senthil is a Managing Director from the Accounting Advisory Services in PwC Singapore with 16 years working experience. He has extensive practical experience across complex IFRS financial reporting. He specializes in GAAP conversions and technical accounting advice and has worked on accounting conversions with various corporate and financial institutions in Asia, Middle East and United Kingdom.
 
He serves as the key technical director for a number of assurance engagements in the financial services sectors: banks, insurance companies and fund managers. He also performs various training on current accounting topics, and has experience designing and managing highly participative programs on IFRS training.
 


Programme Objective
 
Gain practical knowledge of how to apply fair value and impairment in real life and how market volatility may affect your financial statement line items.
 

Programme Outline


Concrete understanding of fair value and impairment is vital to achieving a fair presentation of financial statements. A lot of financial statement line items use fair value as basis of measurement and should be assessed for impairment. Given the increased volatility in the market conditions, any misconception on these areas could have a significant impact to the fairness of your financial reports.
 
As such, regulators become more stringent and included impairment and fair value among the watch list for common pitfalls that they have observed.
 
This full day workshop is designed to tackle the technical concepts of fair value and impairment followed by illustrations on how to practically apply the concepts in the actual world. Since fair value and impairment can be derived using various approach, we will discuss what approach are acceptable and is commonly used in practice. The training includes lots of examples based on actual case scenarios that will engage the participants to raise more questions and to allow practical learning of fair value and impairment application.
 
Morning session – Fair Value
 
Scope and principles of IFRS 13
General principles of selecting valuation techniques
Overall framework of IFRS 13 –step by step Disclosures
 
Practical application and common issues in applying IFRS 13 to:

  • financial instruments
  • investments in associates, joint ventures and subsidiaries
  • business combination
  • inventory
  • property plant and equipment
  • investment property
  • intangible assets
  • biological assets
  • non-financial liabilities
 
Afternoon session – Impairment
 
Objectives and scope of IAS 36
Identifying assets that may be impaired
Annual impairment review for goodwill and certain intangibles
 
The impairment process through practical exercises:
  • Measuring recoverable amount
  • Identifying cash generating units
  • Fair value less cost to sell
  • Calculating value in use
  • Comparing like for like
  • Recognition of impairment losses
  • Future reversals
  • Disclosures
 
Regulators’ comments on impairment
Application of fair value in impairment of non-financial assets
 
Training Methodology
 
Lecture style
 
Closing Date
 
1 week before programme or until full enrolment.

Intended For

CFOs, Finance, Controllers, Supervisors, Accountants, Analysts

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Senthilnathan Sampath
Managing Director
 
Senthil is a Managing Director from the Accounting Advisory Services in PwC Singapore with 16 years working experience. He has extensive practical experience across complex IFRS financial reporting. He specializes in GAAP conversions and technical accounting advice and has worked on accounting conversions with various corporate and financial institutions in Asia, Middle East and United Kingdom.
 
He serves as the key technical director for a number of assurance engagements in the financial services sectors: banks, insurance companies and fund managers. He also performs various training on current accounting topics, and has experience designing and managing highly participative programs on IFRS training.
 

Upcoming Schedule

Registration is closed

Date & Time

22 May 2017 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 550.00
For Non-Members: $ 630.00

Programme Facilitator(s)

Senthilnathan Sampath

Venue

8 Cross Street
Level 7, Room S1 - S4
PwC Building
Singapore 048424