IFRS - Financial Instruments

Overview:

This course is designed to teach the main provisions of the IASB standards over financial instruments and provide the necessary knowledge to apply those standards to their own financial instrument fact situations. The course covers IAS 32 which provides guidance for presenting financial instruments as liabilities or equity and the classification of related interest, dividends, losses, and gains. This course also covers its provisions over offsetting of financial assets and liabilities.

IFRS 9 forms a significant component of the course as it contains the guidance over financial instrument classification, measurement, and impairment and their timing of recognition.  We cover the many provisions of IFRS 9 that can be difficult to apply and/or require significant judgment. 

The course also covers IFRS 7 disclosure provisions which are meant to show the nature and significance of a company’s financial instrument holdings and their performance, but also their associated risks and how the company manages those risks.

This course assists you by providing them with the practical knowledge to understand the concepts and provisions of these financial instruments standards and how to apply them to their portfolio of financial instruments. These standards apply to all companies and they often require certain planning, systems, and processes to apply them effectively. The course covers real-world examples and case studies and will also cover recent standard developments associated with financial instruments.

This course is designed to teach you the main provisions of Financial Instruments standards included in Part I of International Financial Reporting Standards, including IFRS 9, Financial Instruments, IFRS 7, financial Instruments: disclosures, and IAS 32, financial instruments: presentation. These standards apply to all companies and require some analysis related to classification, measurement, impairment, or presentation and disclosure provisions.

Course Content:

In this course, you will gain knowledge about the following topics:

• Overview and scope
• Classification, reclassification, and presentation
• Initial recognition, subsequent measurement, de-recognition, and offsetting
• Impairment
• Disclosures
• Future developments
• Derivatives and embedded derivatives
• Hedging

Learning Objectives:

Upon completing this course, you should be able to:

• Understand the three classification categories for financial assets and related criteria
• Consider key factors in assessing whether an instrument or its components represent an equity or liability instrument (or derivative) and common areas where this assessment occurs
• Understand the subsequent measurement models of financial assets and liabilities
• Understand the key concepts, elections, and application of the IFRS 9 expected credit loss impairment model
• Present and disclosure requirements and examples of such disclosures
• Understand the new hedge accounting model under IFRS 9 and how to identify certain derivatives and embedded derivatives
• Learn more about recent developments 

Who Will Benefit: 

Professionals responsible for the accounting, presentation, and disclosure of financial instruments.