Course Detail(A243 : Overcoming the Practical Challenges of adopting IFRS 9 / FRS 109 Financial Instruments)

A243 : Overcoming the Practical Challenges of adopting IFRS 9 / FRS 109 Financial Instruments

7.00 CPE Hours (Category 1)
Classroom


Programme Objective
To provide accounting professionals with practical guidance on the adoption of IFRS 9 / FRS 109 Financial Instruments through the review of case studies, active discussions, sharing of experiences and reinforcement of key concepts and requirements.

At the end of the session, participants are expected to be able to:

1) Appreciate new financial reporting requirements, including new disclosures arising from the new IFRS 9/ FRS 109 Financial Instruments accounting standard

2) Develop an understanding of common challenges encountered by corporations in their implementation of IFRS 9 / FRS 109, ranging from:

  • common contractual features which result in financial assets breaching the contractual cash flows characteristics test (commonly known as the ‘solely payment of principal’ test);
  • setting up organizational processes and controls surrounding financial asset portfolios in view of the IFRS 9 / FRS 109 “business model” test;
  • developing approaches in addressing the new expected credit loss (ECL) requirements to various in-scope financial instruments
  • hands-on development of a possible ECL model for trade receivables, walking through the various IFRS 9/ FRS 109 ECL principles

3) Be aware of requirements and practical expedients available in relation to the transition to IFRS 9 / FRS 109

4) Appreciate the merits, and expanded opportunities to applying the new hedge accounting requirements on scenarios previously difficult/ not possible to apply under IAS 39 / FRS 39.

Programme Outline

0.5 Day (AM)

  • Recap on key changes introduced by IFRS 9 / FRS 109 Financial Instruments
  • General impact on financial statements
  • Classification & Measurement
    • “SPPI” test and common contractual features which result in financial assets breaching the test
    • “Business model” test and designing organizational processes and controls to ensure financial asset portfolios are appropriately designed and financial reporting is aligned to business model
    • Case studies

 
0.5 Day (PM)

  • Impairment
    • Common challenges in implementing IFRS 9 / FRS 109 ECL model
    • Common marketplace implementation approaches to various receivable counterparties
    • [Hands on activity] Develop expected credit loss model for trade receivables
    • Case studies
  • Hedge Accounting
    • Overview of new hedge accounting concepts introduced in IFRS 9 / FRS 109
    • Illustrative case study scenarios where hedge accounting is now possible/ easier to implement
  • Disclosures: Walk through selected new IFRS 7 / FRS 107 disclosures, amended due to IFRS 9 / FRS 109
  • The requirements and the elections available for transition to IFRS 9 / FRS 109

 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, knowledge checks and interactive discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

The programme is an intermediate to advanced level to meet the needs of audit and accounting professionals. Other users of the financial statements would also benefit from this programme.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

23 Oct 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Aylwin How

Date & Time

05 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chua Yee Tian
Aylwin How

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Aylwin How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Aylwin has over 14 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He is also a Technical Accounting Partner in the National Professional Practice Department.
 
Aylwin is a member of the Financial Instrument Valuation team, having graduated in 2009 with a MSc Financial Engineering, administered by the Nanyang Technological University of Singapore.
 
Other than audit, he is involved in advising entities on accounting and valuation for complex financial structures and hedging strategies. He is also involved in IFRS conversion projects in Southeast Asia as a lead project manager, which involves review and alignment of chart of accounts for consolidation purposes, as well as development of accounting policy manuals.
 
In his role as a Technical Accounting Partner, he is responsible for providing comments on Exposure Drafts issued by the IASB (including Conceptual Framework, IFRS 9 - impairment, hedge accounting, etc). He speaks at external seminars and gives lectures at local universities on various aspects of accounting (including financial instruments and consolidation/ business combination accounting).
 

Chua Yee Tian
Senior Manager | Audit & Assurance | Financial Services
Deloitte & Touche LLP

 
Yee Tian is currently a Technical Accounting Senior Manager with Deloitte Singapore’s National Professional Practice Department, providing accounting advices to various functions within Deloitte South East Asia. He a Chartered Accountant with core experience in public accounting; providing assurance and advisory services to local and regional clients in the financial services industry (banks, investment management (including private equity and funds) and trading companies).

Other than the audit of statutory financial statements, he is also experienced in advising on IFRS Implementation for financial institutions and conglomerate and conducting compliance reviews (including reviewing remediation actions relating to regulator’s inspection reports).

In addition, Yee Tian has facilitated various internal and external trainings/ seminars covering financial reporting standards, auditing standards, and financial service industry regulatory compliance issues.
 


Programme Objective
To provide accounting professionals with practical guidance on the adoption of IFRS 9 / FRS 109 Financial Instruments through the review of case studies, active discussions, sharing of experiences and reinforcement of key concepts and requirements.

At the end of the session, participants are expected to be able to:

1) Appreciate new financial reporting requirements, including new disclosures arising from the new IFRS 9/ FRS 109 Financial Instruments accounting standard

2) Develop an understanding of common challenges encountered by corporations in their implementation of IFRS 9 / FRS 109, ranging from:

  • common contractual features which result in financial assets breaching the contractual cash flows characteristics test (commonly known as the ‘solely payment of principal’ test);
  • setting up organizational processes and controls surrounding financial asset portfolios in view of the IFRS 9 / FRS 109 “business model” test;
  • developing approaches in addressing the new expected credit loss (ECL) requirements to various in-scope financial instruments
  • hands-on development of a possible ECL model for trade receivables, walking through the various IFRS 9/ FRS 109 ECL principles

3) Be aware of requirements and practical expedients available in relation to the transition to IFRS 9 / FRS 109

4) Appreciate the merits, and expanded opportunities to applying the new hedge accounting requirements on scenarios previously difficult/ not possible to apply under IAS 39 / FRS 39.

Programme Outline

0.5 Day (AM)

  • Recap on key changes introduced by IFRS 9 / FRS 109 Financial Instruments
  • General impact on financial statements
  • Classification & Measurement
    • “SPPI” test and common contractual features which result in financial assets breaching the test
    • “Business model” test and designing organizational processes and controls to ensure financial asset portfolios are appropriately designed and financial reporting is aligned to business model
    • Case studies

 
0.5 Day (PM)

  • Impairment
    • Common challenges in implementing IFRS 9 / FRS 109 ECL model
    • Common marketplace implementation approaches to various receivable counterparties
    • [Hands on activity] Develop expected credit loss model for trade receivables
    • Case studies
  • Hedge Accounting
    • Overview of new hedge accounting concepts introduced in IFRS 9 / FRS 109
    • Illustrative case study scenarios where hedge accounting is now possible/ easier to implement
  • Disclosures: Walk through selected new IFRS 7 / FRS 107 disclosures, amended due to IFRS 9 / FRS 109
  • The requirements and the elections available for transition to IFRS 9 / FRS 109

 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, knowledge checks and interactive discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

The programme is an intermediate to advanced level to meet the needs of audit and accounting professionals. Other users of the financial statements would also benefit from this programme.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Aylwin How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Aylwin has over 14 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He is also a Technical Accounting Partner in the National Professional Practice Department.
 
Aylwin is a member of the Financial Instrument Valuation team, having graduated in 2009 with a MSc Financial Engineering, administered by the Nanyang Technological University of Singapore.
 
Other than audit, he is involved in advising entities on accounting and valuation for complex financial structures and hedging strategies. He is also involved in IFRS conversion projects in Southeast Asia as a lead project manager, which involves review and alignment of chart of accounts for consolidation purposes, as well as development of accounting policy manuals.
 
In his role as a Technical Accounting Partner, he is responsible for providing comments on Exposure Drafts issued by the IASB (including Conceptual Framework, IFRS 9 - impairment, hedge accounting, etc). He speaks at external seminars and gives lectures at local universities on various aspects of accounting (including financial instruments and consolidation/ business combination accounting).
 
Chua Yee Tian
Senior Manager | Audit & Assurance | Financial Services
Deloitte & Touche LLP

 
Yee Tian is currently a Technical Accounting Senior Manager with Deloitte Singapore’s National Professional Practice Department, providing accounting advices to various functions within Deloitte South East Asia. He a Chartered Accountant with core experience in public accounting; providing assurance and advisory services to local and regional clients in the financial services industry (banks, investment management (including private equity and funds) and trading companies).

Other than the audit of statutory financial statements, he is also experienced in advising on IFRS Implementation for financial institutions and conglomerate and conducting compliance reviews (including reviewing remediation actions relating to regulator’s inspection reports).

In addition, Yee Tian has facilitated various internal and external trainings/ seminars covering financial reporting standards, auditing standards, and financial service industry regulatory compliance issues.
 

Upcoming Schedule

Registration is closed

Date & Time

23 Oct 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Aylwin How

Venue

60 Cecil Street
ISCA House
Singapore 049709