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DAY ONE
9:00 - 10:30 A BRIEF HISTORY AND
BACKGROUND TO IFRS
Milestones in the development of IFRS
Organization of the IASC/IASB
Sources of standards, interpretive guidance and supplementary
literature
Conceptual framework
Regulatory environments
Convergence with U.S. GAAP: goals, progress and prospects
10:30 - 10:45 Refreshment Break
10:45 - 12:00 Key Income Statement Issues
Revenue recognition
Share-based payments
Interest expense
Extraordinary and unusual items
Discontinued operations
12:00 - 1:00 Luncheon
1:00 - 2:30 OPERATING ASSETS
Inventories
Property, Plant & Equipment
Impairment
Assets in use
Assets held for sale
Asset retirement obligations
Intangible assets and impairment
2:30 - 2:45 Refreshment Break
2:45- 4:00 LIABILITIES AND CONTINGENCIES
Distinguishing between liabilities and equity
Pensions and other post-employment benefits
Contingent liabilities
Restructuring charges
Deferred taxes
4:00 - 5:00 CURRENT PROJECTS AT THE IASB AFFECTING U.S. COMPANIES
5:00 - 5:20 QUESTION AND ANSWER SESSION
DAY TWO
8:30 - 9:30
OFF -BALANCE SHEET TRANSACTIONS
Equity method and proportionate consolidation
Transfers of financial assets with continuing interests
Special purposes entities
Leases
9:30 - 11:15 BUSINESS COMBINATIONS AND CONSOLIDATIONS (coffee break included)
Measuring consideration
Valuation of assets acquired and liabilities assumed
Non-controlling interests
Recognition and measurement of intangible assets
Deferred taxes
Foreign operations
11:15 - 12:15 FIRST-TIME APPLICATION OF IFRS
Overview of the allowed alternatives
Selection of IFRS accounting policies
Preparation of opening balance sheet: the starting point for
subsequent accounting
Determination of estimates for opening B/S and other periods
presented
Presentation and disclosure in the first IFRS financial statements
(and interim reports)
12:15 - 1:15 Luncheon
1:15 - 2:15 CASE STUDY OF IFRS ADOPTION
2:15 - 3:30 (coffee break included) ACCOUNTING POLICIES AND DISCLOSURES
Segments
Earnings per share
Statement of cash flows
Related parties
3:30 - 4:30 FINANCIAL INSTRUMENTS, DERIVATIVES AND HEDGING
Non-derivative financial instruments
Definition of a derivative
Qualifying hedged items
Overview of hedge accounting alternatives
Hedge effectiveness testing, documentation and disclosures
4:30 - 5:00 QUESTION AND ANSWER SESSION
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