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Objectives(Module 1)
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This is an introductory course to highlight the salient features of accounting for financial instruments in accordance with IFRSs. The course covers the basic technical requirement of recognising, measuring, presenting and disclosing financial instruments.
• Clarifying important definitions and identify financial instruments
• Scope of IAS 32, IAS 39 and IFRS 7
• Presentation:
◊ Classification of financial instruments:
- Equity Vs. Liability
- Settlement in own equity instruments
- Continent settlement provisions and settlement options
◊ How to present compound instruments
◊ Presenting interest, dividends, loses and gain from financial instruments
◊ Treasury shares
◊ Offsetting of financial assets and financial liabilities
• Disclosure:
◊ Understanding the basic disclosure requirement of the standard:
◊ Financial Risks
- Understanding various types of financial risk on the balance sheet
• Recognition and Derecognition
• Initial recognition of financial assets and financial liabilities
• Accounting for regular way purchase or sale of financial assets
• Derecognition rules for financial assets and financial liabilities
• Classification and reclassification
• Rules on classifying the four categories of financial assets:
◊ Financial assets at fair value through profit or loss
◊ Held-to-maturity investments
◊ Loans and receivables
◊ Available-for-sale financial assets
• Rules on reclassifications of financial assets
• Accounting for gains and loss of financial assets and financial liabilities
• Measurement
• Initial and subsequent measurement of financial liability
• Fair value measurement techniques
• Accounting for amortised costs using effective interest rate method
• Impairment of financial assets
• Applying objective evidence of impairment in practice for
◊ Uncollectibility of financial assets
◊ Equity investment
• Impairment and reversal of impairment on financial assets
• Introduction to hedge accounting
• Designation of hedging instruments
• Fair value hedges for receivables and payables
• Cash flow hedges for future anticipated cash flows
Who should attend
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• Main target audience - Practicing Accountants:
◊ Company accountants
◊ Internal/external auditors
◊ Preparer of financial statements
Danny has over 25 years of working experience in public practice, commerce and industry. He was trained with a firm of Chartered Accountants in London where he worked for over 10 years in the audit and consultancy. He also held the positions of business development and business operation manager with two UK multinational companies based in London for 5 years. Danny also has two years of public practice experience in Malaysia in Between 1996 and 1997 where he was an audit manager with a firm of accountants.
He is currently the partner of a firm providing financial training and consulting for firms in public practice and industry. Danny specialises in International Financial Reporting Standards. He is an experienced speaker in financial reporting and financial statement analysis for several professional institutions and public listed companies in Malaysia and overseas. Danny is serving as a project manager to the Malaysian Accounting Standard Board in several working groups.
Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a member of Malaysian Institute of Accountants, a fellow member of Chartered Instituted of Management Accountants, a fellow member of Association of Chartered Certified Accountants and an associate member of Malaysian Institute of Taxation.
If you are having trouble registering online then you may download and fill out this registration form and fax it to (65) 65090292.
