Accounting, Finance and Budgeting
IFRS 9 Financial Instruments
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IFRS 9 Financial Instruments Course
Introduction:
Course Objectives:
At the end of this This IFRS 9 Financial Instruments training course you will able to:
- Consider the three separate IFRS areas regarding accounting for financial instruments
- Recognize and measure financial instruments
- Understand how to deal with financial instruments that are transferred in full or part, or items that are derecognized
- Classify and measure financial assets under the three categories in IFRS 9
- Analyze the impact of IFRS 9 on the classification of financial assets, including embedded derivatives
- Classify and measure financial liabilities under the two categories in IFRS 9
- Evaluate the principles of fair value measurement in IFRS 13
- Apply the principles in relation to de-recognition of financial assets
- Calculate the impairment loss on loans and other financial assets under the expected credit loss model in IFRS 9
- Analyze the estimates and judgements in the expected credit loss impairment model
Who Should Attend?
This IFRS 9 Financial Instruments Course ideal for:
- Financial and management accountants in corporate and financial institutions
- Staff in treasury, operations, risk management, IT or compliance departments
- Internal auditors of entities reporting under IFRSs
- External auditors with clients facing the complexities and challenges in adopting and implementing IFRS 9
- 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 and disclosures related to financial instruments and the changes introduced by IFRS 9
- Professors and other instructors with educational facilities
- First-time adopters of IFRSs, seeking to analyse the implications of applying IFRS 9 initially
Course Outlines:
IAS 32 Financial Instruments Presentation
- ASB standards applicable to financial instruments: IAS 32, IAS 39, IFRS 7, IFRS 9 and IFRS 13
- Introduction to IFRS 9
- Definition of financial assets, financial liabilities and equity instruments
- IAS 32 Financial Instruments: Presentation – financial liability versus equity instruments, compound financial instruments and offsetting
- Interest, dividends, losses and gains
- Offsetting financial assets and liabilities
- Statement of financial position
- Three impacts
IFRS 9 Financial Instruments
- Overview of IFRS 9
- A potted history
- Timings
- Recognition and derecognition
- Accounting treatments
- Classification and measurement
- Two tests
- Barnaby Ruffles’ securities
- IFRS 9 and impairment
- Impairment
- Credit Cars’ ECLs
- Impacts
- Are you up to Standard?
IFRS 9 and Hedge Accounting
- Overview of hedging, accounting for different types of hedges and comprehensive
- Objectives and scope
- Which items qualify as hedges?
- Accounting for hedging relationships
- Hedging groups of items
- Issues with IAS 39 hedge accounting
- IFRS 9 hedge accounting model
- Hedging instruments
- Qualifying criteria
- Hedge documentation
- Hedge effectiveness requirements
- Rebalancing
- Discontinuation
Measurement of financial assets and financial liabilities
- Initial recognition including treatment of transaction costs
- Subsequent measurement (IFRS 9 and IFRS 13)
- Debt instruments
- Equity instruments
- Fair value movements due to changes in own credit risk and reporting it for financial liabilities designated at fair value through profit or loss
Impairment of financial assets
- Introduction to IFRS 9 expected loss model – background, scope and impact of the model
- Application of IFRS 9 expected credit loss model
- 12-month and lifetime expected credit losses
- Determination of significant increases in credit risk
- Measurement of expected credit losses
- Modified financial assets
- Simplification and practical expedients
- Purchase/origination of credit-impaired financial assets
- Individual and collective assessment of impairment