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Accounting for financial instruments under IFRS

The training course does not require any previous knowledge of accounting for financial instruments. Basic knowledge of financial accounting is required.

The course consists of lectures, practical exercises, examples and question and answer sessions. It is conducted in Polish.

Objectives

  • To introduce the measurement, presentation and disclosure of financial instruments for entities using International Financial Reporting Standards (IFRS). 

  • For whom?
  • Objectives and advantages
  • Programme
  • Date and location
  • Tutors
  • Price
  • Contact
  • Educational points/units
  • Download

For whom? 

The two-day course is designed for:

  • those preparing financial statements;
  • chief accountants, financial controllers and finance directors responsible for analysing financial statements.

Objectives and advantages

  • To introduce the measurement, presentation and disclosure of financial instruments for entities using International Financial Reporting Standards (IFRS). 

It is possible to organize a inhouse training course on the individual customer's order.  

Programme 

Sources of regulations regarding accounting of financial instruments
  • Characteristics and evolution of IAS 32, IAS 39, IFRS 7 and IFRS 9
What are financial instruments under IFRS?
  • The scope of application of the standards
  • Definitions of financial assets and liabilities and equity instruments
Financial liabilities and equity
  • Classification rules, examples, contracts for an entity's equity instruments, complex financial instruments
Classification of financial instruments
  • Discussion of the basic categories of financial instruments in accordance with IFRS 9
  • Classification of financial instruments in accordance with IFRS 9: financial assets at fair value through profit or loss, other comprehensive income and at amortized cost
Measurement rules for financial instruments according to IFRS 9
  • Discussion of issues related to measuring the fair value of financial instruments
  • Discussion of the amortized cost valuation using the effective interest rate method:
  • calculation of the effective interest rate including initial fees, commissions and discounts
  • valuation on the day of interest payment and any day between interest payments
Disabling financial instruments
  • Analysis of transfers of financial assets in terms of exclusion from the balance sheet: factoring, securitization, repurchase agreements and securities loan agreements
Compensation of financial instruments
  • Rules for offsetting financial assets and liabilities
Impairment of financial assets
  • Rules for creating revaluation write-offs for financial assets: expected loss model IFRS 9
  • Impairment of an instrument measured at amortized cost
  • Impairment losses for instruments measured at fair value
Introduction to derivative accounting
  • Presentation of the principles of functioning of forward, futures, options and swaps transactions
Embedded derivatives
  • Definition, identification, separation and records: examples of instruments embedded in purchase / sale contracts and operational leasing
Hedge accounting
  • Types of accounting hedging relationships: definitions and examples
  • Determination of the hedged item and hedging instrument
  • Formal requirements for applying hedge accounting
  • Records of fair value hedges
  • Cash flow hedge records
  • Assessment of hedge effectiveness
  • Changes and simplifications introduced by IFRS 9 into the area of ​​hedge accounting
Financial instruments: disclosures
  • Discussion, based on examples from the financial statements, of the requirements for disclosing the impact of financial instruments on the financial position and results of operations as well as the nature and extent of risk related to financial instruments: credit, liquidity and market risk

Materials 

The materials are intended for use during the course and, more importantly, to help participants in their daily work. 

Date and location   

27-28 October, 2020, Warsaw   

Tutors

Jarosław Olszewski FCCA, CFA, CIA Senior Manager   

A graduate of the Poznań University of Economics. Has the powers of a Polish statutory auditor and international ACCA, CFA and CIA. Employed in the EY group since 1996.
The main area of ​​Jaroslaw's specialization are International Financial Reporting Standards. He has several years of coaching experience in conducting both open trainings on general issues, as well as dedicated, specialized workshops on topics arising from specific customer needs. He is the content director in the IFRS postgraduate programs implemented in cooperation with SGH both in the open formula and at the request of key mining and energy companies. In the years 2015-2017 a member of the PIBR Examination Board.   

Maciej Kocon   

A graduate of the Warsaw School of Economics (finance and banking) and Aarhus School of Business (M.Sc. in Finance and International Business) and EDHEC Business School (Certificate in Finance). 
He has 12 years of experience in the consulting department of one of the Big Four companies. He provided audit and advisory services to financial sector institutions and corporations in the field of financial risk management - market liquidity - and regulatory. He also worked at a large universal bank, where he dealt with the sale and development of deposit and treasury services for corporate clients. 
He specializes in projects related to the use of financial instruments in the practice of financial risk management, accounting for financial instruments in accordance with IFRS and Polish accounting regulations,
and projects related to treasury activities. For many years, he has been successfully training in accounting for financial instruments, financial risk management and regulation of the financial sector.      
Price 2100.00 PLN (+ 23% VAT)

Contact

Aleksandra Trych, Warszawa | tel. +48 505 171 636 | aleksandra.trych@pl.ey.com

Natalia Medyńska, Wrocław | tel. +48 789 407 645 | natalia.medynska@pl.ey.com

Educational points/units  

CPD (Continuing Professional Development) - our trainings meet the requirements of international professional organizations (ACCA, IIA) regarding the further education of their members. 

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