IPSAS 41: Classification & Measurement, Impairment, De-recognition, & Hedge Accounting
Join our two-day in-depth IPSAS 41 Financial Instruments workshop in Abu Dhabi, UAE. Financial Instruments became effective for annual reporting periods beginning on or after January 1, 2023. This standard supersedes parts of IPSAS 29 Financial Instruments: Recognition and Measurement.
This new standard introduces a classification and measurement model for financial assets, an expected credit loss model for impairment testing, and a hedge accounting model that broadens the scope of the guidance.
With the increasing integration of finance-related functions across public sector entities, IPSAS 41 significantly impacts business models and financial reporting. The primary changes will arise from the Impairment Methodology, necessitating organizations to have the necessary knowledge and strategic understanding for successful implementation. Even if your organization has implemented the ECL model, it requires regular calibrations and modifications to align with real-life data.
In this workshop, our experienced instructor will provide insights into the development and direction of IPSAS 41, highlight key differences between existing and modified approaches, and discuss emerging industry challenges. Additionally, the instructor will outline the implementation roadmap for these accounting standards and their implications for your organization.
Join us for a comprehensive walk-through of the IPSAS 41 framework, ensuring your organization stays current with the latest international accounting standards.
Key Learning Features
- Understanding how to achieve the amortized cost criteria for financial instruments
- Applying the Business Model test and SPPI criteria on the existing portfolio
- Knowing when to use the fair value through the Surplus/Deficiency category
- Accounting for unquoted equity instruments and hybrid instruments
- Accounting for Own Credit Risk and accounting mismatches
- Understanding when and how to change the classification and measurement of financial instruments
- Understanding the difference between the incurred loss and expected credit loss models for impairment
- Applying the new expected credit loss model
- Assessing the impact of the expected credit loss model on impairment allowance
- Applying the expected credit loss model to trade receivables, financial guarantees, and revolving credit facilities
- Understanding hedge engineering and its potential for achieving better results
- Complying with the hedge accounting documentation requirements
- Designing and testing hedge effectiveness
- Identifying ‘hidden’ derivatives
- Knowing when hybrid instruments need to be separated
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For More Information
We invite you to reach out to our customer service team for further details on our IPSAS 41 Financial Instruments workshop and to enrol. Our team is committed to delivering exceptional service and addressing any inquiries you may have.
We are eager to assist you in advancing your professional development and look forward to hearing from you soon.
Instructor Bio
Our faculty members are highly qualified experts with a diverse range of specializations, including International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, risk management strategies, valuations, mergers & acquisitions, corporate governance, ESG reporting, supply chain management, prudential regulations, and compliance matters such as Basel regulations, Solvency II, Anti-Money Laundering regulations, and more. Additionally, they have expertise in a variety of professional development programs, such as negotiation skills, presentation skills, data management, Python, Block-Chain, Digital Assets, and Becker CPA. This depth and breadth of knowledge ensure an engaging and effective learning experience for professionals and senior executives, helping to enhance knowledge retention.
Our faculty members are seasoned professionals with a wealth of experience in their respective fields. They bring a unique combination of practical knowledge and theoretical understanding to the classroom, making them well-equipped to address the challenges faced by professionals in today’s rapidly changing business environment. Their expertise and hands-on experience ensure that participants receive the most up-to-date and relevant information, which they can immediately apply to their own work. The interactive and engaging learning environment fostered by our expert instructors also helps participants retain information and improves their overall understanding of the subject matter. Whether you’re seeking to expand your knowledge, enhance your skills, or explore new career opportunities, our faculty members are equipped to provide you with the guidance and support you need to achieve your goals.
Instructor for this course
The course instructor will be one of our highly experienced faculty members.
Our Partners
Our Partners in Learning
Course Description
Sessions 1:
- Introduction to IPSAS 41 and IPSASB Timeline
- Comparison of IPSAS 29 vs. IPSAS 41 for Classification of Financial Instruments
- Criteria for measuring financial instruments under each category
- Equity instrument classification and challenges
- Fair Value through Debt Service (FVTDS) for Debt instruments and issues
- Business Model and Characteristics of a Financial Asset Test
- Accounting of Hybrid Instruments/Embedded Derivatives
- Reclassification
- Transition Challenges and Impact
- Examples and Group Case Studies
Session 2:
- Categories for Financial Liabilities
- Hybrid instruments and bifurcation of embedded derivatives
- Accounting of Own Credit Risk and CVA/DVA
- Issues and Challenges
- Examples and Case Studies
- Impairment of Financial Assets – (Incurred loss model vs. expected loss model)
- Proposed expected cash flows model/three-bucket model
- Application of impairment model
- Emerging issues and challenges ahead
- Road map to expected loss model
- General Hedge Accounting
- Aligning hedge accounting with risk management
- Fair value and Cash flow hedges
- Hedged items and Hedging instruments
- Qualitative and Quantitative effectiveness
- De-designation
- Simpler and flexible hedge accounting framework
- Examples and Group Case Studies
By the end of the workshop, participants will have gained a comprehensive understanding of IPSAS 41 and its impact on financial reporting functions. They will have learned about the classification and measurement of financial instruments, accounting for financial liabilities, impairment of financial assets, and hedge accounting. They will also have the opportunity to apply their learning through group case studies and examples.
The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.
All rights reserved. ©2024, Shasat
Why you must attend?
Looking to enhance your understanding of IPSAS 41 financial instruments? Join our upcoming workshop for a comprehensive learning experience.
Implementation can be a complex process, requiring significant system and process changes, quality data, and the adoption of new classification and impairment models. Our workshop is designed to equip you with the knowledge and skills necessary to navigate these challenges successfully. The implementation takes a longer period of time due to the significant challenges associated with the implementation process.
Our experienced faculty members, with over 15 years of experience implementing IFRS in the UK and other jurisdictions, will guide you through a highly interactive and practical approach to learning. You’ll gain a deep understanding of both conceptual and practical issues, including how to achieve amortized cost criteria for financial instruments, apply the business model test and SPPI criteria, and account for unquoted equity and hybrid instruments. Learn about hedge engineering, documentation requirements for hedge accounting, identifying hidden derivatives, and separating hybrid instruments.
Teaching methodology
The training program will employ a comprehensive and engaging approach to learning, designed to deliver maximum impact and retention. The methodology includes:
- A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
- Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
- Explanations of concepts and methodologies through the use of examples and distinct scenarios, allow attendees to understand the material in context.
- Group exercises designed to illustrate accounting principles, encouraging collaboration, and fostering a deeper understanding of the material.
- Discussions on IFRS vs US GAAP differences, industry issues, and diversity in practices provide attendees with a well-rounded understanding of the subject matter.
- Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
- An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.
The combination of these elements creates a dynamic and engaging learning experience that will support the professional development of all attendees.
Who should attend
This course is designed for:
- Public sector senior executives: Chief Financial Officers, Finance Directors, Accountant General, Auditors General, etc.
- Practitioners involved in public sector accounting: accountants, auditors, finance and non-finance staff, budget officers, controllers, treasurers, etc.
- Public Sector accounting conversion project managers and experts, etc.
- Academics, accountancy students, etc. and any person who wants to develop a good understanding and working knowledge of the public sector accounting requirements and its challenges.
No matter your background or experience level, this workshop provides valuable knowledge and skills that will help you stay ahead in today’s global reporting environment. Join us today and gain the competitive edge you need to succeed.
Feedback
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
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Payment
Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.
We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.
Group discount
Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at info@shasat.com. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.
Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.
For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.
In-House Training
Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.
