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IFRS 9 and 15 Training

2 Day Training

Dates: 17 – 18 April 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

This is a Non-accredited Course

Course Introduction

This IFRS 9 and 15 Training program provides a comprehensive overview of IFRS 9 and IFRS 15, two of the most significant International Financial Reporting Standards (IFRS) impacting financial reporting. Participants will gain a clear understanding of the key requirements, practical considerations, and implications of these standards. Through interactive presentations, case studies, and discussions, participants will develop the skills necessary to implement these standards effectively.

 

Materials:

  • Training slides and handouts

  • IFRS 9 and 15 standards

  • Practical case studies

Assessment:

  • Pre- and post-training quizzes

  • Case study analysis and group discussions

Course Objectives

At the end of the IFRS 9 training the delegates are expected to understand:

  • Understand the key changes introduced by IFRS 9 compared to IAS 39.

  • Classify and measure financial assets and liabilities under IFRS 9.

  • Apply the expected loss model for impairment assessment.

  • Identify and account for hedge accounting relationships.

  • Analyze and interpret the financial statements of companies applying IFRS 9.

At the end of the IFRS 15 training the delegates are expected to understand:

  • Understand the principles underlying the five-step model for revenue recognition.

  • Identify performance obligations within contracts.

  • Measure transaction price and allocate it to performance obligations.

  • Recognize revenue over time in accordance with IFRS 15.

  • Prepare the required disclosures under IFRS 15.

  • Analyze and interpret the financial statements of companies applying IFRS 15.

Who should attend?

This training is designed for accounting professionals who need to understand and apply IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Customers). This includes accountants, auditors, financial analysts, and other stakeholders involved in financial reporting.

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: IFRS 9 – Financial Instruments

Topics:

  • Introduction to IFRS 9:Key differences from IAS 39, key principles, and effective date.

  • Classification and Measurement:Identifying financial assets and liabilities, applying the classification framework, and understanding different measurement models.

  • Impairment:Applying the expected loss model, recognition and reversal of impairment losses, and disclosures.

  • Hedge Accounting:Recognizing and measuring hedge accounting positions, effectiveness criteria, and presentation.

  • Case Studies:Practical application of IFRS 9 to various financial instruments.

Day 2: IFRS 15 – Revenue from Contracts with Customers

Topics:

  • Introduction to IFRS 15:Key principles, five-step model, and effective date.

  • Identifying Performance Obligations:Analyzing contracts to identify distinct promises to transfer goods or services.

  • Measuring Transaction Price:Determining the consideration to be recognized, variable consideration estimates, and changes in transaction price.

  • Recognizing Revenue:Applying the five-step model, allocation of transaction price, and recognizing performance obligations over time.

  • Disclosures:Required disclosures under IFRS 15.

  • Case Studies:Practical application of IFRS 15 to various contracts.

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