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IFRS 9: Financial Instruments

  • Accountant
  • CPA (CA)
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • IAP
  • QIAL
  • ACCA
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: August, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • IFRS Financial Instruments
    14 mins
  • Scope of IFRS 9
    26 mins
  • Transfers that quality for derecognition
    41 mins
  • Embedded derivatives
    58 mins
  • Accounting for the time value of options
    80 mins

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 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 in order 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 business 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
  • Other 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


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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

Recommended For

  • This Online Continuing Professional Education webinar is recommended for CPAs, CMA, CIA, CVA, CFA, IAP, QIAL, and Other Professionals who desires to update their Accounting knowledge and skills
  • This Online CPE/CE Webinar is also recommended for CPAs in Canada who desire to help their practice with updated knowledge on IFRS application

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Assistant Controllers
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • CEO
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Staff of Accounting Firm

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2 CPD Credit for CPA - Ireland
  • 2 CPD Credit for Chartered Accountants - Scotland
  • 2 CPD Credit for CA - ICAEW
  • 2 CPD Credit for Chartered Certified Accountants (ACCA)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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.

Presenter

About Presenter

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.

Faq

FAQs content

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Ratings and Review

3.2

11 Ratings

Excellent

0

Very Good

5

Average

3

Poor

3

Terrible

0

MM

Monique Michaud, CPA (US)

Jun 10th, 2022

I have whiplash. We sped through this one.

Carolyn Cudmore
Carolyn Cudmore, CPA (CA)

Jan 1st, 2022

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

HG

Hong Ge, CPA (US)

Feb 1st, 2022

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.

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