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21.05. - 22.05.2012, Zagreb
Trainer: Saket Modi
Course overview
International Financial Reporting Standards (IFRS) is fast becoming the global accounting language. The correct adoption of IFRS promises organisations in all the sectors many benefits including greater consistency, comparability and transparency of financial reporting resulting in enhanced investor confidence across the globe. This two day workshop focuses on key IFRSs including recent changes for banks and financial institutions. In addition, it includes an understanding of the impact of proposed changes in Bank regulation on capital and profitability of banks.
At the end of the workshop, the participants will obtain an in-depth understanding of the complex standards on financial instruments and be able to analyse and interpret financial statements of banks. There will be extensive use of a range of financial instruments, real life examples and case studies on banking transactions to understand banks financial statements.
Learning outcomes
To enable participants to:
- understand banks financial statements including key ratios
- obtain a detailed understanding of the principles of IFRS 9 Financial instruments
- understand the impact on financial statements of measurement, fair valuation, impairment and de-recognition of financial instruments
- analyse and interpret bank IFRS financial statements
Who should attend?
The workshop will be useful for new and experienced preparers and users of bank financial statements including:
- Chief accountants
- Finance directors
- Finance managers and accountants
- Financial controllers
- Management accountants
- Information system managers
- Auditors
- Portfolio managers
- Corporate analysts
IFRS for banks and financial institutions
Day 1 Outline
08:30 - 09:00 Registration
09:00 - 10:30 Introduction to IFRS Financial statements
- Financial statements presentation for banks
- Understand financial assets, financial liabilities and equity instruments
- Recognition and measurement of compound financial instruments
- Classification and measurement of financial instruments
10:30 - 10:45 Break
10:45 - 12:15 Financial instruments: Fair value accounting
- Valuation of derivatives
- Credit and debit valuation adjustments
- Impact of fair value accounting on financial statements
Practical case study: Measurement and recognition of financial instruments
12:15 - 13:15 Lunch
13:15 - 14:45 Financial instruments: Impairment and De-recognition
- Impairment and reversals of impairment of financial assets
- Update on proposed changes in IFRS 9
- Detailed understanding of de-recognition principles for financial assets
Practical case study: Applying de-recognition principles to financial assets
14:45 - 15:00 Break
15:00 - 16:30 Financial instruments: Hedge Accounting – Part I
- Hedging and hedge accounting under IFRS
- Understand how hedging helps achieve risk management objectives
- Different types of hedges under IFRS
Practical case study: Hedging solution for corporate
Day 2 Outline
09:00 - 10:30 Hedge Accounting – Part II
- Hedging different types of risks
- Hedging highly expected/forecast transactions
- Micro hedging versus macro hedging
Practical case study: Hedging accounting and impact on financial statements
10:30 - 10:45 Break
10:45 - 12:15 Business combinations and Consolidation
- Principles of IFRS 3 Business combinations and recognition of goodwill/gain on acquisition
- Determination of control and implementation guidance on consolidation of subsidiaries including special purpose entities
- Consolidation of foreign subsidiaries
Practical case study: Determination of goodwill on acquisition and consolidation of acquiree company
12:15 - 13:15 Lunch
13:15 - 14:45 Bank regulation
- Understand regulatory capital, risk weighted assets and Basel accords
- Impact of Basel III on banks and financial institutions
- Dodd-Frank and legislative reforms
Practical case study: Impact of Basel III on capital and profitability of banks
14:45 - 15:00 Break
15:00 - 16:30 Case study on analysis of bank financial statements
Trainer
 Saket Modi is a Chartered Accountant with 15 years experience, a trainer and consultant in financial reporting and accounting, specialising in International Financial Reporting Standards (IFRS). Saket has extensive expertise in designing and delivering training for US, UK, European, African and Asian organisations. He has trained professionals and students both in the UK and internationally, and gained valuable experience working with Big 4 accounting firms and FTSE listed companies in UK.
Saket has spent considerable time delivering customised training workshops on accounting and financial reporting for banks, financial institutions and corporations. The workshops have covered a wide range of topics from basic financial statements to looking at specific issues faced by financial institutions around measurement, reporting and disclosures of financial instruments including derivatives. In addition, he has delivered trainings on topics like revenue recognition, consolidation, business combinations, hedging, impairment and accounting for foreign operations and changes in foreign exchange rates.
Saket has designed and delivered training for Barclays Bank, Credit Suisse, Central Bank of Sri Lanka, Deutsche Bank, JP Morgan and Royal Bank of Scotland. He has also delivered training for African corporations, law and accountancy firms, and spoken at the Institute of Chartered Accountants of India and Institute of Internal Auditors.
Saket is also a financial services consultant with Group Corporate Treasury, Lloyds Banking Group. In his earlier role, he led the financial reporting team of the structured transactions business of the Lloyds Banking Group. He had responsibility for financial reporting of approximately 50 Special Purpose Entities (SPEs) in accordance with IFRS and looked into technical accounting issues at entity, bank and group level. Prior to that, he worked with Ernst & Young and PricewaterhouseCoopers.
Saket is an accredited trainer of JCI, an international network of professionals and entrepreneurs and was the Training Director of JCI London for 2010 and 2011.
Saket is a member of the Institute of Chartered Accountants of India and has completed the IFRS Certificate course from the Institute of Chartered Accountants in England and Wales. He was awarded a full scholarship for MSc Multinational Accounting and Financial Management at the University of Reading, UK which he completed with distinction.
Application deadline
11th May 2012
Course fees
3.590,00 HRK / 490,00 EUR + VAT
Bank: Privredna banka Zagreb, Račkoga 6, Zagreb, Hrvatska
Bank account: 2340009-1110356112
IBAN: HR6023400091110356112
SWIFT CODE: PBZGHR2X
Discounts
- 5% - members of Klub kontrolera
- 10% - 2 participants from the same company or members of Klub Banka
- 15% - 3 or more participants from the same company
Early Bird Discount
- 5% - additional discount for paid course fees until 30th March 2012
Course fees include training materials, a certificate of attendance, lunches and refreshments.
Language
The training will be conducted in English.
Media partner
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