Course description
Essentials: A Focus on IFRS 9 Financial Instruments (Virtual Classroom)
This online IFRS training is being delivered live in a single 4 hour session which runs from 13:00 – 17:00 London (UK).
This focus session will take a brief, topic-specific look at IFRS 9.
IFRS 9 has a logical, principles-based approach to the measurement of financial assets based on the business model and nature of cash flows. The forward-looking impairment model requires timely recognition, and ongoing assessment of credit losses. The hedge accounting requirements are principles based and aligned to common risk management practices.
This course provides an overview of the key requirements of IFRS 9 in a practical and interactive way. In addition, it covers the impact of COVID-19 on IFRS 9 application and the IASB guidance in relation to the interest rate benchmark reforms.
This course is an important overview for finance professionals, designed to help preparers and users of financial statements to evaluate the impact of IFRS 9 on the financial statements.
Upcoming start dates
Suitability - Who should attend?
This training course is especially suitable for:
- Financial and management accountants in corporate and financial institutions
- Staff in treasury, operations, risk management, IT or compliance departments
- Internal and external auditors of entities reporting under IFRS
- 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 related to financial instruments
- Professors and other instructors with educational facilities
- First-time adopters of IFRS, seeking to analyse the implications of adopting IFRS 9 initially for accounting for their financial instruments
Outcome / Qualification etc.
This course is beneficial to preparers and users of IFRS financial statements. The participants will analyse the principles in IFRS 9.
- Apply the principles for classification and measurement of financial assets and financial liabilities, including derivatives and embedded derivatives in IFRS 9
- Apply the expected credit loss impairment model for financial assets
- Obtain an overview of hedge accounting and analyse the requirements in IFRS 9
- Review the impact of COVID-19 on applying IFRS 9
- Update participants on the interest rate benchmark reforms
CPE credits are available for all courses.
Training Course Content
This course is designed to cover the following key topics:
- Introduction
- Overview of IFRS 9
- Classification and measurement 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 Model criteria
- Solely Payments of Principal and Interest (SPPI)
- Fair value option
- Fair value movements due to own credit risk in financial liabilities at fair value through profit or loss
- Accounting for derivatives and embedded derivatives
- IFRS 9 Classification: amortised cost, fair value through other comprehensive income and fair value through profit or loss
- Impairment of financial assets
- Introduction to IFRS 9 expected credit loss model – background, scope and impact
- Application of IFRS 9 expected credit loss model
- 12-month and lifetime expected credit losses
- Staging of financial assets
- Determing of significant increases in credit risk
- Measuring expected credit losses
- Modified financial assets
- Simplification and practical expedients
- Purchase/origination of credit-impaired financial assets
- Loan commitments and financial guarantee contracts
- Hedge accounting
- Overview of hedging and accounting for three types of hedges – fair value, cash flow and net investment hedge
- IFRS 9 hedge accounting model
- Hedged items
- Hedging instruments
- Qualifying criteria
- Hedge documentation
- Hedge effectiveness requirements
- Rebalancing
- Discontinuation
- Updates
- Impact of COVID-19 on IFRS 9
- Interest rate benchmark reform
Why choose IASeminars
We've been training for 20 years.
50% of our business comes from returning clients.
We offer instructor-led training in international locations, over Zoom or in house.
Reviews
Average rating 4.3
IASeminars did a great job in explaining a complex chapter like IFRS 9 to the participants in a 4-hour course. Although I was quite experienced, it contributed significantly to ...
I would recommend this course for financials who need an orientation to IFRS
Expenses
The cost of this training course is £395 + VAT.
Saket [course instructor] covered and focused on the areas that are of most interest for us, with clear explanation and examples.