Overview : IFRS 9 Financial Instruments

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IFRS 9: Financial Instruments

Learning Objectives

To be able to initially measure financial instruments and the subsequent measurement of financial assets and liabilities
To record correctly debt instruments as well as equity instruments
To know how to apply the fair value option
To discuss when and how to apply the other comprehensive income option
To implement the de-recognition of financial assets, liabilities, derivatives, and embedded derivatives

Course Description

IFRS 9 introduces new requirements for how an entity should classify and measure financial assets, replaces the current rules for impairment of financial assets, and amends the requirements for hedge accounting. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures.

This online webinar on the new IFRS 9 will delve into the details of the fundamental changes, with a specific focus on hedge accounting, to enable you to effectively implement the new requirements. IFRS 9 identifies three types of hedging relationships and prescribes special accounting provisions for each: Fair value hedge, Cash flow hedge, and Hedge of a net investment in a foreign operation.

IFRS 9 requires that you be aware of its effect to implement it. Although IFRS 9 is very detailed oriented, you still must know all the areas it covers, You need to know and understand the implications of IFRS 9. Auditors look specifically for the correct application of this standard. It can have a serious impact on some entities, perhaps altering their balance sheet more than they dared to believe. It affects many large entities in the financial industry as well as entities that depend on financial instruments.

IFRS 9 applies in many areas, including such as how financial assets and liabilities are recognized, de-recognized, and valued, as well as imposing substantial disclosure requirements. Auditors need to understand the obligations of IFRS 9, and management has to base decisions on knowledge of this standard to maximize benefits from using financial instruments. In addition, IFRS 9 has specific rules about insurance contracts, which means that the interaction between IFRS 4 and IFRS 9 will have to be considered.

This online CPE webinar covers the following key topics:

The initial measurement of financial instruments
Subsequent measurement of financial assets and liabilities
Debt instruments and Equity instruments
Fair value option
Another comprehensive income option
Measurement guidance
De-recognition of financial assets and liabilities
Derivatives as well as embedded derivatives
Overview of Hedge accounting
Impairment
Presentation and Disclosures
Interaction with IFRS 4
Although hedge accounting is optional, there are qualifying criteria in IFRS 9 to be able to apply hedge accounting

Click here for more webinars on accounting

Webinar Qualifies For

2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
2 General Credit for Accountant/Bookkeeper/Tax Professionals
2 CPD Credit for CPA in Canada
2 CPE Credit for Certified Internal Auditors (CIA)
2 CPE Credit for Certified Fraud Examiner (CFE)
2 CPE Credit for Certified Management Accountants (CMA)
2 CPE Credit for Certified Valuation Analyst (CVA)
2 CPD Credit for Accredited in Business Valuation (ABV)
2 CPE Credit of Financial Reporting for Chartered Global Management Accountants (CGMA)
2 CPD Credit for Certified Financial Forensics (CFF)
2 PL Credit for Chartered Financial Analyst (CFA)
2 CPD Credit for Association of Chartered Certified Accountants (ACCA)
2 CPE Credit for Certified Government Financial Manager (CGFM)
2 CPD Credit for Chartered Accountant - ICAEW
2 CPE Credit for Internal Audit Practitioner (IAP)
2 CE Credit for Certified FP&A Professional (FP&A)
2 CPE Credit for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
2 CPD Credit for Chartered Accountants - Scotland
2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2 CPD Credit for Chartered Accountants - Ireland (CAI)
2 CPD Credit for CPA - Ireland
2 PL Credit for CIPM

About Instructor

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

3.7

Excellent

Very Good

Average

Poor

Terrible

Monique Michaud, CPA (US)

I have whiplash. We sped through this one.

Erin Bonta-lewis, CPA (US)

Good examples

Carolyn Cudmore, CPA in Canada

presented a lot of detailed information so I am sure I will have to refer back to the presentation material at some point

Hong Ge, CPA (US)

The instructor is merely reading the accounting standards! No examples to illustrate the topic. The presentation style is boring and instructor lacks enthusiasm in discussing the topics.

MRR

Michael Richardson Richardson, CPA in Canada

IFRS 9 is such a technical and complex standard, and the trainer was the most monotone, boring presenter I've ever seen. Did not take any questions, read *paragraphs* of text from the slide. Would not recommend.

2 Credits

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Subject Area

Accounting

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Verification Code

IFRS 9: Financial Instruments

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Michel Morley

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

3.7

Monique Michaud, CPA (US)

Erin Bonta-lewis, CPA (US)

Carolyn Cudmore, CPA in Canada

Hong Ge, CPA (US)

Michael Richardson Richardson, CPA in Canada

Subject Area

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