IFRS Masterclasses 2019 - PwC · 2019. 5. 8. · scope of the IFRS 9 standard, deﬁne business...

IFRS Masterclasses 2019PwC’s Academy - helping people grow

www.pwc.nl/academy

For whomThe IFRS masterclasses are for professionals with a background in finance and who work in an accounting, reporting and/or controlling role and for everyone else who is interested in the practical application of IFRS. Basic accounting knowledge and experience is required to use the knowledge offered during these master-classes to its utmost.

TrainersThe trainers are professionals and members of the PwC Capital Markets and Accounting Advisory Services (CMAAS) group who use the IFRS standards assisting clients with IFRS transitions and/or complex IFRS accounting topics on a daily basis.

Contact PwC’s Academy+31 (0)88 792 [email protected]/academy

Understanding accounting standards is one thing, applying them in practice can be complex. Especially if your company is involved in complex transactions, applying IFRS can be challenging. The training courses of PwC’s Academy are designed to help you take on this challenge and provide you with the insights that you require to successfully apply IFRS in practice.

Update and increase your accounting knowledge efficiently by attending our IFRS masterclasses. We offer concise, practical, high quality, accredited training courses. Recent developments and examples from our daily practice are part of the program.

Our IFRS masterclasses:IFRS 15 - 8 October 2019IFRS 16 - 14 October 2019IFRS 9 - 5 November 2019Intregrated reporting - date to be announced

The subjects covered include in particular the new standards almost all of the topics that companies encounter when applying IFRS. They range for example from revenue from contracts with customers to specific accounting rules related to financial instruments and consolidation. You may subscribe to all masterclasses or to separate masterclasses you deem relevant.

The program of masterclass 1 is designed to help you understand and apply the accounting principles of the five-step model. Upon completion of this module you will be able to decide if the item of income is in the scope of the standard; identify the contract with the customer; identify the performance obligations in the contract; allocate the transaction price and define the revenue recognition pattern.

This masterclass focuses on the introduction of IFRS 15, the revenue recognition standard, which has replaced the former standards IAS 18 and IAS 11. This new standard has been effective since 2018, the impact of the standard could be significant for many companies from both an accounting and processes perspective. The introduction of the new standard has three objectives:

to remove inconsistencies and weaknesses in existing revenue recognition standards by providing clear principles for revenue recognition in a robust framework;

to provide a single revenue recognition model which will improve comparability over a range of industries, companies and geographical boundaries;

to simplify the preparation of financial statements by reducing the number of requirements to which preparers must refer.

During this session we address the most important changes as compared to the former accounting requirements. It is important that companies understand the concept of IFRS15 and are able to apply this in relation to their own business and activities.

Before the classroom session participants complete an e-learn ‘Revenue Standard’.

Date, time & location8 October 2019, 13:15h - 17:30hPwC Utrecht

PE-pointsThis training course qualifies for 3 PE hours / points.

CostsThe price for attending IFRS 15 amounts to €595,- exempt from VAT. No other discounts apply to these costs. This amount includes course material, lunch and complementary drinks.

ParticipationFor your application and further information please consult our site: www.pwc.nl/academy.

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eroepsorganisatie van Accountants

Game: IFRS Adventure GameIn January 2016 the International Accounting Standards Board (IASB) issued IFRS 16, ‘Leases’, and thereby started a new era of lease accounting – at least for lessees! Whereas, under the previous guidance in IAS 17, Leases, a lessee had to make a distinction between a finance lease (on balance sheet) and an operating lease (off balance sheet), the new model requires the lessee to recognise a lease liability reflecting future lease payments and a ‘right-of-use asset’ for almost all lease contracts; the only optional exemptions are for certain short-term leases and leases of low-value assets. For lessees that have entered into contracts classified as operating leases under IAS 17, this could have a significant impact on the financial statements. At first, the new standard will affect balance sheet and balance sheet-related ratios such as the debt/equity ratio. Aside from this, IFRS 16 will also impact the income statement, due to the recognition of interest expense on the lease liability capitalised and depreciation of the ‘right-of-use’ asset (that is, the asset that reflects the right to use the leased asset).

Implementation of the new standard includes many challenges such as the measurement of the lease liability, data collection, system implementation and internal process redesign, to name a few.

During this masterclass, we will discuss the main differences to the former accounting requirements, measurement requirements for the lease liability and the right-of-use asset, and the transitional provisions. It is important that companies understand the challenges of this new standard, so that they are ready for smooth implementation.

Before the classroom session participants complete an e-learn ‘Leasing Standard’

Date, time & location14 October 2019, 11:00h - 16.30hPwC Amsterdam

PE-pointsThis training course qualifies for4 PE hours / points.



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Financial instruments and hedge accountingUpon completion of this module you will be able to indicate that an instrument is in the scope of the IFRS 9 standard, define business model of an instrument, decide whether an instrument meets SPPI test, apply recognition and measurement rules based on classification, and define relevant pattern to calculate expected credit loss on financial assets.

This masterclass concerns a full day of financial instruments. In the morning part the basic principles will be discussed. This will include the relevant definitions and the classification and measurement of financial instruments. After that the measurement principles, fair value and amortized cost will be discussed. The morning session will be closed with IFRS 9 impairments.

The afternoon session will further build on the basic as discussed in the morning. Accounting for derivatives will be the main topic of this session, including embedded derivatives and hedge accounting. The detailed IFRS 9 hedge accounting requirements will be set out by the use of comprehensive examples. We will end the afternoon session by discussing two hot topics, i.e. accounting for refinancings and (reverse) factoring.

Before the classroom session participants complete an e-learn: IFRS 9 for corporates.

Date, time & location5 November 2019, 09:00h - 17:00hPwC Utrecht

PE-pointsThis training course qualifies for7 PE hours / points.



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IFRS Masterclasses 2019 - PwC · 2019. 5. 8. · scope of the IFRS 9 standard, deﬁne business...

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