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IFRS 9 Financial Instruments

  • Intermediate
  • 18 and older
  • $2,600
  • takes place in 4 star professional, New York, NY
  • 18 hours over 2 sessions

Start Dates (0)

  • $2,600
  • IASeminars in NYC @ takes place in 4 star professional conference facilities , New York, NY 00000
  • 18 hours over 2 sessions
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Class Description

Description

What you'll learn in this ifrs training:

IFRS 9 Financial Instruments is effective from 1 January 2018 and replaces IAS 39 Financial Instruments: Recognition and Measurement. It introduces a logical, more principles-based approach to classification and measurement of financial assets based on the entity’s business model and an instrument’s cash flow characteristics. The new forward-looking impairment model requires earlier recognition, and ongoing assessment of credit losses. IFRS 9’s hedge accounting requirements are more principles-based and more closely aligned with the entity’s risk management practices.


This course provides an in-depth analysis of IFRS 9 Financial Instruments. It provides numerous examples and illustrations to explain the business model and cash flow characteristics test for classification of financial assets, amortised cost and fair value measurement of financial assets and financial liabilities, de-recognition of financial assets (retained servicing, continuing involvement etc.), measurement of expected credit losses and the accounting and impact of different types of hedges on financial statements. In addition, it covers the disclosures in IFRS 7 and the principles of fair value measurement in IFRS 13.


The course is designed to help preparers and users of financial statements to evaluate the impact of IFRS 9 on the business and its financial statements.


Course Benefits

This course is beneficial to preparers and users of IFRS financial statements. The participants will learn the principles in IFRS 9, and its application.

  • Analyse financial instruments to differentiate between liabilities, equity, or a combination of both
  • Apply the principles for classification, initial recognition and subsequent measurement of financial assets and financial liabilities in IFRS 9
  • Evaluate the principles of fair value measurement in IFRS 13
  • Determine the accounting for derivatives and embedded derivatives
  • Compute the effective interest rate and apply the effective interest method for measurement of financial instruments at amortised cost
  • Apply the derecognition principles to financial assets and financial liabilities
  • Apply the expected credit loss model and calculate impairment losses for financial assets
  • Obtain an overview of hedge accounting and analyse the requirements in IFRS 9
  • Comply with the extensive disclosure requirements of IFRS 7
  • Analyse the impact of COVID-19 on IFRS 9 Application

Who should attend?

  • Financial and management accountants in corporate and financial institutions
  • Staff in treasury, operations, risk management, IT or compliance departments
  • Internal auditors of entities reporting under IFRSs
  • External auditors with clients facing the complexities and challenges in adopting and implementing IFRS 9
  • Staff and management of Central Banks, Deposit Insurance Entities, and other agencies with regulatory responsibility in the financial services sector
  • Financial analysts seeking to improve their understanding of the accounting and disclosures related to financial instruments and the changes introduced by IFRS 9
  • Professors and other instructors with educational facilities
  • First-time adopters of IFRSs, seeking to analyze the implications of applying IFRS 9 initially

Prerequisites: Basic understanding of accounting under IFRS or any national standards. No advance preparation is required for this course.

Topics

Session 1 (4 hours)

  • Introduction
    • Introduction to IFRS 9
    • Recap of IAS 32 Financial Instruments: Presentation – financial liability versus equity instruments, compound financial instruments and offsetting
  • Classification of financial assets and financial liabilities
    • IFRS 9 Classification: Amortised cost, Fair value through other comprehensive income and Fair value through profit or loss
      • Business Models criteria
      • Solely Payments of Principal and Interest (SPPI)
    • Fair value option
  • Measurement of financial assets and financial liabilities
    • Initial recognition including treatment of transaction costs
    • Subsequent measurement
      • Amortised cost
      • Fair value measurement (IFRS 13)
  • Reclassification of financial assets
  • Fair value movements due to own credit risk in financial liabilities at fair value through profit or loss
  • Accounting for derivatives and embedded derivatives
Session 2 (4 hours)

  • Amortised cost financial assets
    • Computing the effective interest rate
    • Applying the effective interest method under various scenarios
      • Plain vanilla bonds
      • Variable rate instruments
      • Financial assets that are prepayable
    • Loan commitments
    • Fee income and loan origination costs
    • Financial guarantees
    • Repossessed assets
  • De-recognition principles
    • Derecognition of financial assets
      • Determining whether a transfer has occurred
      • Transfer/retention of substantially all risks and rewards
      • Retaining “control” and measurement of continuing involvement
    • Derecognition of financial liabilities
Session 3 (4 hours)

  • Impairment of financial assets
    • Introduction to IFRS 9 expected credit loss model – background, scope and impact of the model
    • Application of IFRS 9 expected credit loss model
      • 12-month and lifetime expected credit losses
      • Staging of financial assets
      • Determination of significant increases in credit risk
      • Measurement of expected credit losses
      • Modified financial assets
      • Simplification and practical expedients
      • Purchase/origination of credit-impaired financial assets
      • Loan commitments and financial guarantee contracts
Session 4 (4 hours)

  • Hedge accounting
    • Overview of hedging and accounting for three types of hedges – fair value, cash flow and net investment hedge
    • Impact of hedge accounting for interest rate and foreign exchange risk
      • IFRS 9 hedge accounting model
      • Hedged items
      • Hedging instruments
      • Qualifying criteria
      • Groups and net positions
      • Hedge documentation
      • Hedge effectiveness requirements
      • Rebalancing
      • Discontinuation
  • IFRS 7 Financial instruments disclosures
  • Updates
    • Impact of COVID-19 on IFRS 9
    • Interest rate benchmark reform
    • Macro-hedging

Remote Learning

This course is available for "remote" learning and will be available to anyone with access to an internet device with a microphone (this includes most models of computers, tablets). Classes will take place with a "Live" instructor at the date/times listed below.

Upon registration, the instructor will send along additional information about how to log-on and participate in the class.

Refund Policy

Cancellation/Refund Policies:
  • Provider reserves the right in its sole discretion to cancel or reschedule an Event, or to change the instructor without notice. You will be entitled to no compensation or damages in such a case.

  • If Provider cancels an Event (or reschedules it to a date inconvenient to you), we will provide a full refund within 30 days upon your written request, or at your option you may transfer the credit to another Provider Event or to another person.
     
  • If you cancel your registration in writing to Provider at least 14 days before the start of the Event, we will provide an 80% refund - the remaining 20% represents our administration fee. Alternatively, you are welcome to transfer the full credit to another course or to another person at no extra charge.
     
  • If you cancel your registration with less than 14 days prior written notice to Provider, or do not attend the Event for any reason whatsoever, no refund will be made and no Provider Content will be distributed to you. A transfer of the credit to another course or to another person may be possible, in Provider's sole discretion, at an extra charge equal to 20% of the original registration fee.

  • No refunds will be made after you have attended the Event. Nonetheless, the Provider is proud of its reputation in the marketplace and also of its level of customer service, and will always seek to address any concerns that you may have before, during or after the course.

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IASeminars

Whatever your requirements are for training in international accounting, you can be assured that IASeminars are ready to deliver. Offering topics such as IFRS, US GAAP, IPSAS, Management Accounting and Banking Regulation, here at IASeminars we are passionate about helping you progress your professional...

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