E-Learning_online IFRS

GID 23000 – IFRS 9 Impairment workshop (1 day): On Demand Via Live Webinar

£1,550.00 £1,100.00

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Course Introduction

IFRS 9 Impairment workshop

The IFRS 9 Financial Instrument became effective from 1 January 2018 which bring together a new framework concerning the classification and measurement of financial instruments, impairment (expected credit losses) and hedge accounting requirements. The newly introduced impairment framework has been built upon previous work to develop a more forward-looking provisioning model, which recognizes the expected credit losses on a more timely basis. The entities in many countries have either not yet implemented the requirements of IFRS 9 or have not been successful in building a more robust Expected Credit Loss (ECL) model for their organisation. For most organisations, it is still a work in progress and the COVID19 situation has raised further questions on the predictability of their existing ECL model. 

The new IFRS 9 would result in a substantial overhaul of the accounting rules for financial instruments, which is expected to deeply transform the financial statements of financial and non-financial institutions. Leaders of internationally operating financial institutions factor these prospective changes into their plans today, recognizing the value of planning ahead and the needs to competitively position the organization for the future.

Therefore, we have developed this one-day Impairment Workshop to discuss all the latest challenges relating to the ECL models, best practices, COVID19 scenario, back-testing issues, and how you can improve your model by addressing the critical issues. This course will help professionals in understanding a clear roadmap for implementing the ECL model and also synergies between the regulatory and IFRS 9 impairment requirements. This programme would highlight lessons learned from the European organisation who have implemented highly sophisticated ECL models. This is a hands-on workshop in which we will discuss real-life examples and group case studies

The accounting changes set forth in this new impairment framework has fundamentally changed the impairment methodology, accounting, and disclosure requirements. The impact on organizational processes and systems will be significant which will require technical expertise, planning, strategic and other wide-ranging implementation considerations to implement the expected loss model. 

In this forward-looking workshop, you will be updated on the recent changes to the IFRS 9 and you will spend one day to get an in-depth and hands-on understanding of the impairment modelling issues, transitional challenges, best practices and understanding the impact and unresolved issues. We will offer our view on the development and direction of ECL model, and highlight how you can improve your model to achieve a more realistic outcome. differences between the old vs. new changes. We will also discuss the models available for the new standards and the implications these have for your business.

Join us for this comprehensive walk-through of the expected credit loss model. 

Instructor Bio

Our trainers have specialist knowledge and first-hand experience of implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), Risk management strategies, Management practices, Compliance matters such as Basel regulations, Solvency II, Anti Money Laundering regulations and number of other evolving regulatory matters. This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained.
They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentation of important concepts/approaches and case studies.  Here’s your chance to get to know some of our faculty members and thought-leaders in their fields.

Instructor for this Programme

Shasat Faculty

Course Description

Session -1

  • Incurred Loss Model vs. Expected Credit Loss Model
  • Scope of Expected Credit Loss Model under IFRS 9
  • Objective of an expected credit loss impairment model
  • Latest Challenges including predictability of the existing ECL models.
  • COVID19 Situations and ECL model modifications required
  • Industry Examples

Session -2

  • Expected Credit Losses
  • Main proposal
    • amortised cost of a financial asset or financial liability
    • Three bucket Model
    • 12-month expected credit losses
    • Lifetime expected credit losses
    • credit losses
    • loss allowance
    • credit risk rating grades
    • credit-adjusted effective interest rate
    • Assessing when an entity shall recognise lifetime expected credit losses
    • effect of changes in credit risk
  • Mathematical models to calculate lifetime expected credit losses and their limitations
    • Implementation challenges – Specific Instruments
  • An estimate of expected credit losses shall reflect:
  • an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes;
  • the time value of money
  • Group Exercise and Case Studies

Session-3

  • Interest revenue
  • Effective interest method
    • Effective interest rate;
    • Gross carrying amount of a financial asset
    • modification of gain or loss
    • objective evidence of impairment
  • Application of the model to assets that have been modified but not Derecognised
  • Application of the model to loan commitments and financial guarantee Contracts
  • Financial assets that are credit-impaired on initial recognition
  • Simplified approach for trade receivables and lease receivables
    • Exceptions to the general model
  • Group Exercise and Case Studies
  • Issue of pro-cyclicality and building buffer

Session 4

  • Alignment with Basel III/IV
  • Expected credit loss impairment model for corporates
  • Disclosure requirements and challenges ahead
  • Implementation road map and planning
  • Comparison with the CECL approach proposed by the FASB;
  • Is the proposed impairment model a done thing or more issues to emerge?
  • Effective date and transition
  • Emerging issues and challenges
  • Group Exercise

Question & answer Session

Why you must attend?

With more and more countries adopting the IFRS as their accounting standards (almost over 140 countries) and also due to regular revisions and replacement of existing standards & principles, you must continue to develop your conceptual and practical understanding of IFRSs.  If you intend to use IFRS for the first time then you must have the required knowledge and skills to implement the IFRSs, be able to understand how this transition affects company’s reporting, and what it means going forward. If you have already implemented IFRS even then you need to make sure that you continue to invest your time in learning and keep yourself updated with further changes to the IFRSs.

We have designed this course to give you all the required knowledge, skills and experience to deal with these challenges.  We have one of the best and most experienced faculties’ in the world, with over 15 years of IFRS implementation experience in the European region and working with a number of clients in the emerging markets.

We have designed this course to give you all the required knowledge, skills and experience to deal with these challenges. We have one of the best and experienced faculties in the world with over 10 years of experience in implementing IFRS in the UK and also in other jurisdictions. This is an instructor-led course for professionals (beginners to expert level) who want gain a complete and in-depth understanding of the new impairment model (Expected Credit Loss) under IFRS 9 to understand and implement the new forward-looking impairment calculation model. This IFRS course has been designed to be highly interactive and practical to provide exhaustive learning of conceptual and practical issues for those who are looking to sharpen their skills and knowledge about the accounting of financial instruments.

Shasat has developed this high-quality learning programme to help users develop their knowledge and understanding of the expected credit loss model under IFRS 9. Class sizes are limited (Maximum 10 participants per class) to preserve maximum interactivity and to enhance the fulfillment of learning outcomes. Some of the key features of our training courses are:

  • Expert IFRS instructors with field experience;
  • Distinct scenarios, examples and case studies to explain concepts and methodologies;
  • A firm grounding for developing skills and competencies essential for financial reporting
  • Access to IFRS templates, tools, models and resources
  • Opportunities to discover new career path in IFRS/US GAAP

Teaching methodology

  • User-friendly slide deck which summarises the concept, methodology, and principles in a simplest possible manner;
  • Interactive sessions with real-life case studies;
  • Concepts and methodologies are explained using examples and distinct scenarios;
  • Group exercises to illustrate accounting principles;
  • Discussion on GAAP differences, industry issues, and diversity in practices
  • Additional course material and handouts to all the attendees
  • Participants are encouraged to ask questions.

Who should attend?

This course is suitable for professionals (beginners to specialists) from all industry groups.  Examples of some of the roles that will benefit from this course are:

  • Chief Financial Officers/ Finance Directors;
  • Finance executives
  • Corporate finance function;
  • Accountants / Financial Controllers
  • Financial Reporting Executives
  • Treasurer
  • Budget Officers / Forecasting Specialists;
  • Auditors (internal/External)
  • Risk managers
  • Merchant bankers
  • Tax Directors /managers
  • Regulators;
  • Academicians
  • Accountancy students
  • Analysts
  • Fund Managers and Investors
  • Strategic and Financial Planners
  • Private Equity and M&A Specialists
  • Investment Bankers
  • Corporate Bankers
  • Investment Managers
  • Senior operations managers

Feedback

All delegates will receive an evaluation questionnaire upon completion of the course. The feedback from these questionnaires allows Shasat to conduct trend analysis and continuously approve the quality of its learning solutions

Venue & other info

All our training courses are organised at one of the recognised professional training facilities or training facilities at one of the 4 to 5 star hotels in the city.  We will send you the joining instructions with venue details at least 2 weeks before the commencement of the training program.  We provide tea/coffee, snacks, and lunch during the duration of this course. You are responsible to organise your accommodation.

Changes to the conference:

Shasat may at its sole discretion change the format, speakers, participants, content, venue location, and programme or any other aspect of the Conference at any time and for any reason, whether or not due to a Force Majeure Event, in each case without liability.

Sponsorship Opportunities

If you are seeking to profile your products, expertise, and experience in the field of Financial Instrument then the Shasat will endeavour to assist your business objectives with opportunities such as:

Brand exposure

  • Targeted brand awareness and the association of your company with this area of expertise.

Thought leadership

  • Present your expertise to a targeted group of industry leaders.

Product demonstrations

  • Exhibit your products to new prospective clients already attending this conference.

Networking

We will provide you with a platform to meet face to face with a room full of potential clients and exhibit the benefit of your services. For more information on how Shasat can help you meet your marketing objectives, Contact our customer service team at info@shasat.com

Data protection

The personal information which you provide to us will be held by us in our database. You agree that Shasat may share this information with other companies in the Shasat Group. Occasionally your details may be made available to selected third parties who wish to communicate with you offers related to your business activities. If you do not wish to receive these offers please contact the database manager at info@shasat.com

For more information about how Shasat uses the information, you provide please see our privacy policy at: http://www.shasat.co.uk.com.   If you do not wish your details to be available to companies in the Shasat Group or selected third parties, please contact the customer service at info@shasat.com.

Payment

In order to enrol for this programme, you can either make the payment online through our website or you can opt to make the payment via bank transfer/Demand draft/Cheque payment. Our payment web page will give you all the necessary options at the time of check out. Should you face any difficulty, please do not hesitate to contact us with your selected course and our customer services team will be happy to guide you through the payment process. You must also bear all the bank charges in relation to payment of course fees and payment must be made at least 3 weeks before the course date. Registration will be confirmed upon receipt of payment and completion of registration form only.

Group discount

We offer a group discount of 15% if you book a course for 4 or more people. Please contact our customer services desk at info@shasat.com to discuss further on how to obtain a group discount code.

CPD hours

Each participant will be issued a training certificate which will certify that you have successfully completed the training course and the number of hours you spent to complete this training course.

Enquiries

Please contact our Customer Service for further assistance at info@shasat.com

In-House Training

Our trainers have specialist knowledge and first-hand experience of implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), Risk management strategies, Management practices, Compliance matters such as Basel regulations, Solvency II, Anti Money Laundering regulations and number of other evolving regulatory matters. This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained.
They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentation of important concepts/approaches and case studies.