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Turmoil in the financial markets has not only brought to light the full extent of the growth in the complexity, range and variety of derivatives and their applications. Coming hot on the heels of the mass changeover to IFRS (which is itself in a state of flux), the fallout from the credit crunch has also laid bare just how stretched the accounting and risk management functions of many organisations have become as they strive to keep up with accounting, reporting and regulatory developments.

To meet the need for an understanding, not only of the accounting for derivatives but also of the products themselves, this established, accredited training course from Neoedge, is being continuously and comprehensively updated to offer you both expert training and invaluable practical insight into the most accurate and effective derivatives accounting techniques currently in use.

Finance & Accounting professionals will benefit from this invaluable opportunity to develop both their knowledge and skills in accounting and valuing a wide range of derivatives products. They will learn the essentials of current market practice and regulation and be prepared for their effects and implications on their systems and procedures.

The impact of IFRS on financial instruments and especially derivative accounting has been profound. The Income Statement is more vulnerable to volatility than ever before, reported equity reserves have become a moving target and there is now little certainty that the economic reality of a transaction will be reflected in the accounts. Few would disagree that, in ideal world, accounting should never dictate business decisions; even fewer would disagree that in practice this is now what is happening, at least to some extent.

Only a few years ago, structured financiers, asset and liability management specialists and corporate bankers saw accounting as a post-event recording of transactions. In the new accounting environment, this is no longer the case. Today, you have to take cognisance of the accounting implications whilst a transaction is designed and developed, or face the possibility that even a lucrative deal might not be supported. The rear-view mirror approach no longer provides the competitive edge to succeed. Accounting has become part of the development process of structured finance transactions and to be successful, your business needs to be empowered with the relevant, correct and precise information at hand at any time. Obtaining this information in a useful and relevant format is, however, not always easy as one might expect.

The official IFRS text contains well in excess of 2,000 pages of complex rules, regulations and guidance, and can easily become a minefield to overcome any practitioner that does not know exactly where to look for the correct answer (often, just knowing which question to ask is an advantage!).

The International Accounting Standards Board (IASB) recently issued a new standard on Financial Instruments – IFRS 9, which will have a significant impact on entities dealing with financial instruments and exposed to market risk. Phase III of the IASB’s financial instruments project is still in progress and addresses the complex area of hedge accounting.

This comprehensive three-day course provides an in-depth review of the current IFRS accounting and reporting requirements for derivatives and hedging. Course delegates also receive up-to-date information on IFRS 9 and Phase III of the IASB’s project to replace IAS 39, as well as a brief comparison to US GAAP where applicable.

Day 1

Classification, reclassification and measurement

• Brief IAS 39 refresher
• IFRS 9 on classifications (including embedded derivatives)
• Fair value in practice

Impairment

• Basic refresh to IAS 39 and update on basics of IFRS 9
• Incurred vs expect loss models – implementation issues

Recognition and derecognition

• Basic concepts on recognition – both IAS 39 and IFRS 9
• Derecognition (general and modification criteria)

Day 2

Hedge accounting

• Refresher on IAS 39
• The new proposals – practical implications

IFRS 9 transition and disclosure

• Transition to IFRS 9 – implementation implications Disclosure – what has changed, what is new and how to handle it

IAS 32

• Capital and debt – where are we going
• Offsetting of financial assets and liabilities

Day 3

Transaction workshop

• Securitisations and capital market issuance (walking through a complex transaction)

Questions workshop

• Written questions submitted over the course of the conference

The future

• The IASB agenda – looking into the future
• Non-accounting issues that might impact the industry

Graeme Tosen

Graeme Tosen is the Head of Treasury Finance for the The Co-operative Financial Services UK, where he has responsibility for all Finance and accounting aspects of the Treasury balance sheet, including derivatives, hedge accounting and capital market issuances, including securitisations. Prior to this Graeme headed up the Finance Advisory function for Bank of Scotland Treasury (part of HBOS plc) where he was responsible for technical accounting and regulatory advice, hedge accounting and special purpose entities. He was also financial manager at Gensec Bank in Johannesburg, worked in the Capital Markets and Treasury division of PricewaterhouseCoopers, and lectured in Accounting at the University of Pretoria.

He has written a book on understanding and implementing the highly technical accounting rules of the International Financial Reporting Standards (IFRS) that apply to derivatives and structured finance, published several articles on IFRS and risk management and presented at several international conferences on IAS 39.

Graeme is a member of both the South African Institute of Chartered Accountants and the Institute of Chartered Accountants of England and Wales and is a CFA (Chartered Financial Analyst) charter holder, as well as a member of the Global Association of Risk Professionals.

He holds a masters degree in accounting from the Rand Afrikaans University in Johannesburg, South Africa, where his thesis was on the impact of IAS 39 on e-treasuries as well as a diploma in Financial Strategy from Oxford University

Chris Bruce

Chris Bruce is a Chartered Accountant (member of the Institute of Chartered Accountants of England and Wales) and CFA Charterholder, currently working in Accounting Policy for a major UK bank. He has experience in dealing with IFRS accounting issues, specifically relating to structured and complex transactions, capital markets funding (including securitisations) and derivatives, having worked with treasury and trading functions for the past four years.

Prior to joining his current employers, Chris spent a number of years working for PwC’s audit practice after graduating from Oxford University.

Who should attend this training course?

This course is ideal for delegates with knowledge of accounting for financial instruments who want to strengthen their expertise and implement the more intricate aspects of accounting for derivatives and hedging.

• Accountants at financial institutions
• Financial Analysts
• Portfolio Managers
• Securities Analysts
• Credit / Investment Banking
• Senior Managers
• Auditors of financial institutions

In addition to accountants, auditors and consultants, this workshop will be of value to bank treasury / capital markets / corporate finance staff, including financial controllers/product controllers, back office staff, risk managers, asset-liability managers and executives working on economic and regulatory capital issues. It will also be of value to corporate treasury executives/ controllers, and finance directors/managers from corporates, as well as accountants, controllers and analysts from investment firms and other financial institutions.

Course Key Benefits

It is designed to:

• Understand all standards relating to financial instruments, including NEW IFRS 9
• Learn how to effectively meet disclosure requirements
• Comply with fair value measurement and impairment guidance ·
• Discover the areas that most commonly result in regulatory scrutiny and restatements
• Develop strategies for the initial application of IFRS 9
• Understand the impact of the new rules on structured finance and securitisation transactions
• Analyse the anticipated financial statement and systems impact of IFRS 9
• Monitor the IASB’s plans and schedule for future financial instrument revisions
• Prepare for implementation of upcoming new requirements · Put theory into practice with company case study exercises

This event will be held at Novotel Singapore Clarke Quay, on 14-16 September.

Novotel Singapore Clarke Quay
177A River Valley Road, Singapore 179031
Contact: Julian Egli
Business Services Executive
General: (65) 63383333
DID: (65) 6433 8631
Fax: (65) 6338 4266
Email: H5993-SM9@accor.com

Please quote Implementing IFRS for Financial Institutions Workshop Organised by Neoedge to enjoy Corporate Rate.