Register your FREE IFRS Webinar
Hi PICPAns,
As an active member of PICPA Dubai for the year 2024-2025, you are entitled to an exclusive FREE IFRS webinar on 20th July 2024 from 1PM to 5PM (Dubai Time).
What You’ll Learn
IFRS 9 – Financial Instruments
• Why the new standard?
• What are the new classification?
• What are the measurement changes?
• What is the concept of impairment of Assets?
• Introduction to Expected Credit Loss.
• Understanding the classification of different financial instruments;
• What is the business model approach?
• How to use the SPPI test.
• Impairment test for each financial instruments.
• Disclosure requirements
• Identify the Financial Instruments in the Financial Statements;
• Identify the measurement and classification of Financial Instruments in the Financial Statements
• How Banks rate the client and how PD is derived from these internal ratings
• How staging is determined
• EAD and effective interest calculations
• Collateral eligibility
• ECL modelling
IFRS 15 – Revenue from Contracts with Customers
• Why the new standard?
• What are the Five Steps in recognizing the Revenue from Customer Contracts.
• Understanding the steps in identifying the contract with a customer.
• Identify the performance obligations in the contract.
• Determine the transaction price.
• Allocate the transaction price.
• Recognize revenue when the entity satisfies a performance obligation.
IFRS 16 – Accounting for Leases
• Overview of the IFRS 16 for leases and its relation to IAS 17
o Understand the new method of recognizing the leases in the financial report of IFRS entities, see the difference from the IAS 17 for leases and what are those specific rules not covered by IFRS 16 that is still applicable under IAS 17
• Reporting requirement of IFRS 16 and its impact to Company’s Financial Reporting
o Identify how to “properly” report the right of use and lease liabilities in the financial position of the entity, also see how the new reporting for the lease expense are shown in the statement of operations and cash flow reporting
• The tax implication of the IFRS 16
o See how to reconcile the impact of the IFRS 16 as required under IAS 12 for the timing difference in the recognition of the lease payments.
