Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course is designed to teach participants the main provisions of the IASB standards over financial instruments and provide participants with the necessary knowledge to apply those standards to their own financial instrument fact situations.
The course will cover 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 will also cover its provisions over offsetting of financial assets and liabilities.
IFRS 9 will form a significant component of the course as it contains the guidance over financial instrument classification, measurement and impairment and their timing of recognition. We will cover many provisions of IFRS 9 that can be difficult to apply and/or require significant judgment.
The course will also cover 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 will assist participants 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 standard apply to all companies and they often requires certain planning, systems and processes to apply them effectively. The course will cover real-world examples and case studies and will also cover recent standard developments associated with financial instruments.
Topics Include:
- Overview and scope
- Classification, reclassification and presentation
- Initial recognition, subsequent measurement, de-recognition and offsetting
- Impairment
- Disclosures
- Future developments
- Derivatives and embedded derivatives
- Hedging
NOTE: No updates or changes were made to the 2024 version of this course. If you completed the course in 2023, please be advised the 2024 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- November 21, 2024, 1:00 p.m. - 5:00 p.m.
- November 22, 2024, 1:00 p.m. - 5:00 p.m.
Key Takeaways
By the end of this course, participants will learn the following about financial instruments:
- The three classification categories for financial assets and related criteria;
- Key factors to consider in assessing whether an instrument or its components represent an equity or liability instrument (or derivative) and common areas where this assessment occurs;
- The subsequent measurement models of financial assets and liabilities;
- Key concepts, elections and application of the IFRS 9 expected credit loss impairment model;
- Presentation and disclosure requirements and examples of such disclosures;
- New hedge accounting model under IFRS 9 and how to identify certain derivative and embedded derivatives; and
- Recent developments.
Who Will Benefit
Professionals responsible for the accounting, presentation and disclosure of financial instruments.
Prerequisite(s)
Although not mandatory, participants would benefit from pre-reading the most recent edition of IFRS 9, IFRS 7 and IAS 32 contained in the CPA Handbook Accounting Part I.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Chris Leduc, CPA, CA, MBA is professor/coordinator at Cambrian College in Sudbury, Ontario. Chris made the move to academics after working as an audit manager for 5 year in a small public accounting firm. In his academic leadership role, Chris is always involved with the CPA Professional Education Program and also keeping up-to-date on recent accounting and assurance pronouncements. Chris has sharing his experience and knowledge with others as a session leader for CPA Ontario and CPA Canada since 2013.