We know from our clients that International Financial Reporting Standards (IFRS) is a major issue for most companies and finance professionals so we have developed leading expertise in IFRS to be shared.
Together with our experts, we have designed a whole range of open seminars covering the most recent topics and developments in the area of IFRS. All of our courses are designed to be practical and engaging – we use case studies and examples to illustrate IFRS in practice and help you learn.
The seminars will help anyone from the field of accounting and finance to deal with consolidation issues they may encounter in carrying out their financial reporting duties.
21 MARCH | Seminar addresses the basic rules of consolidation of an existing group and accounting for acquisitions and disposals of companies according to both CZ GAAP and IFRS. The seminar covers IFRS 10, IAS 28, IFRS 3 and IFRS 5. Practical examples illustrate basic consolidation adjustments, such as elimination of intercompany transactions and balances focused on inventories and fixed assets purchased within a group, goodwill, etc. The seminar also equips you to understand the accounting treatment of business transformations according to CZ GAAP and IFRS.
30 MARCH | During this workshop you will learn step by step how to prepare a cash-flow statement using indirect method. You will not only get practical tips and an overview of the most common modifications (taxes, asset, setoffs, capitalization, etc.) but also a certainty that cash flow calculated from a balance sheet prepared using the indirect method always works out. We will also discuss the basic differences in the structure of cash flow according to CZ GAAP and IFRS and possible pitfalls during the preparation of consolidated cash flow.
18 APRIL | The seminar will present the new fundamental change in accounting for operating lease which will be for lessee newly recognized in balance sheet. The seminar includes practical examples of calculation and accounting for new assets and liabilities related to operating lease. The specific contracts’ provisions (option on extension, indexation, variable lease, residual price guarantee, etc.) and the contracts’ changes and their impact on the assets and liabilities amount will be included in the course. We will tell you how to get ready and what to do on the transition day. The seminar also focuses on the standard impact on the key financial indicators, financial risks and internal systems and processes.
24 APRIL | The seminar is focused on the consolidation of complex groups and accounting of changes in ownership of companies within a group during the year (step-by acquisitions, increase of ownership in subsidiary, etc.). You will learn about the implication of transactions under common control (e.g. merging subsidiaries, restructuring a group). We will also discuss the specifics of internal transactions or transactions with owners which are not transacted under market conditions and the impact of interest cost capitalization on the group.
27 APRIL | Effective 1 January 2018 a new standard IFRS 15 replaces all existing IFRS and US GAAP regulations of revenue recognition and brings important changes in the way of revenue accounting. This standard affects accounting of large number of contracts for the supply of goods and services to customers. During the course our tutors will present case studies showing different methods for reporting revenues in comparison with present methods. Case studies are suitable for application in companies that prepare their stand-alone financial statements under IFRS as well as for companies that assemble consolidation packages for the group reporting purposes.
19 MAY | This half-day seminar is suitable for those who want to put their theoretical knowledge of consolidation of balance sheet, income statements and statement of changes in own capital into practice according to IFRS (with small adjustments also applicable for CZ GAAP). You will go through a complex case study which includes consolidation of complex group with following specifics: subsidiary controlled for the whole period, newly acquired foreign subsidiary with non-controlling put option, associate, intercompany transactions (long, mid and short term), dividends payment, impairment of goodwill etc.
25 MAY | The first part of the seminar focuses on impairment testing of both tangible and intangible assets and goodwill according to IAS 36. A theoretical overview is followed by a summary of the most common pitfalls and by a practical example of calculation based on a model of future cash flow. The topic of the second part of the seminar summarises the requirements of IAS 37 for the recognition and measurement of provisions – it focuses on provisions for restructuring, decommission of assets, onerous contracts and employee and termination benefits. Practical examples show how the basic principle is applied.
TO BE CONFIRMED | Practical approach to applying hedge accounting in accordance with IAS 39. It will cover the fundamentals of hedge accounting (e.g. documentation requirements, hedge effectiveness testing etc.) and examples of applying the fundamentals in practice (e.g. cash flow hedging for forecast purchase or sales in a foreign currency).
TO BE CONFIRMED | This seminar combines accounting and tax issues. In the first part we take you through pitfalls in tax (tax deductibility, temporary and permanent differences). The second part gives you knowledge of principles and how to calculate deferred tax. Practical examples summarise the majority of the situations attendees could find themselves in. The seminar also gives you knowledge of effective tax rate reconciliation as a control mechanism for calculating deferred tax and summarises the difference between calculating deferred tax according to CZ GAAP and IFRS.
TO BE CONFIRMED | This seminar is aimed at providing a solid understanding of accounting for financial instruments in accordance with IFRS. The course is led by our experts who have extensive knowledge in training and consultancy in the area of financial and banking sector: IAS 32 Financial Instruments (Presentation), IAS 39 Financial Instruments (Recognition and measurement), IFRS 7 Financial Instruments (Disclosures).
TO BE CONFIRMED | This course includes key information about standards or amendments that have recently come into effect and a summary of the impact of the standards effective in the EU since 1 January 2017 (for example new revenues and leases standard, impact of IFRS 9 change on impairment of receivables, amendment of IAS 1 or IAS 12 - taxes). A part of the course also focuses on the most common problematic areas. This year we will focus on the common mistakes during acquisition accounting (business combination in consolidation), provisions, share base payments or debt vs equity.
TO BE CONFIRMED | This seminar is addressed to the professionals from accounting, controlling and reporting departments and to the treasury and risk management professionals who currently deal with IAS 39 to IFRS 9 transition issues and those who need to know latest standard regulations to make decisions about the transition preparation and related changes.
TO BE CONFIRMED | Come to find out the most important differences between CZ GAAP and IFRS and make your day to day life easier. The seminar is focused on basic principles and rules of recognition and measurement according to IFRS. We stress the areas which have different treatment in CZ GAAP and IFRS such as tangible and intangible fixed assets, provisions, financial instruments, leasing, revenues, consolidation, etc. This seminar gives you a general overview of the above. Detailed information together with a number of practical examples are part of our other seminars focused especially on individual areas.
TO BE CONFIRMED | This course focuses on the preparation of financial statements in accordance with IFRS as adopted by the European Union for the year with the ending date 31 December 2016. This course emphasizes the publishing of information that is now required in comparison to the year 2015 and focuses on common mistakes / deficiencies that arise when preparing the financial statements in accordance with IFRS, such as publishing regarding financial instruments (IFRS 7 and IFRS 13), the structure of the primary financial statements, publishing the impairment of non-financial assets, terminating activities and assets held for sale, related parties, etc. This course will introduce you to the reporting requirements and, in particular, help you to understand them.