IFRS 2016: the latest developments and current issues
Dates
- 14-16 December, 2016
Issues to be discussed
Day 1 and 2
IFRS 16 - Leases
- Main requirements of the standard;
- Lease definition, classification of lease or service contracts;
- Assessment of lease liability;
- Lessee accounting.
Practice of IFRS 15 - Revenue from contracts with customers
- Revenue recognition from contracts with customers;
- Agent or principal;
- License accounting.
Current issues of accounting for deferred taxes in accordance with IAS 12
- Uncertainty in calculation and recognition of tax;
- Recognition of deferred tax assets for unrealised losses.
Case study: Presentation of financial statements
- Amendments and clarifications to IAS 1 - Presentation of financial statements;
- Classification of liabilities;
- Offsetting financial assets and liabilities;
- Amendments and clarifications to IAS 7 - Cash flow statements.
Current issues of asset impairment test
- Requirements of the standard for determination of cash generating unit;
- Methods of assessing the recoverable amount of asset, their main differences;
- Discount rate.
Recent documents and current projects of IASB
Day 3 (optional)
Practice of IFRS 9 - Financial instruments
- Debt and equity classification of financial assets;
- Classification of financial liabilities;
- Assessment of business model;
- Model of expected credit loss on impairment of financial assets;
- Hedging.
Case study: classification of financial instruments on debt and equity instruments
All topics include practical exercises
