IFRS HKFRS Training 0603j+app1.hkicpa.org.hk/ifrs/brochure.pdf · 6 Earn your IFRS Delivered by the co-author of the HKICPA / ICAEW IFRS Award Programme, this 3 days workshop will

TrainingHKFRS/IFRS

Self-study IFRS Award ProgrammeLearning & Assessment Pack (Certificate Level)

Intensive IFRS Summer Workshop 3 days

FTC Programme on HKFRS / IFRS

HKICPA HKFRS “CPD” Workshops and Seminars

8181 0CPD

HOURS

CPD Hours70

CPD Hours25

CPD Hours35

CPD Hours57

1/2

4

Learning and

IFRSimplementation

IFRS CertificateLearning Materials

introductory level IFRS CertificateAssessment

demonstrateunderstanding

IFRS DiplomaLearning Materials

advanced level

IFRS DiplomaAssessment

demonstrateunderstanding

International Financial Reporting Standards -

The impact of IFRS is far reachingWith the arrival of IFRS, the global business community now faces a challenging time to ensure it is adequatelyprepared for the requirements of the standards. The introduction of international standards means that mostorganisations will need to change their financial policies, processes and systems.

How does this affect you?From 1 January 2005, Hong Kong Financial Reporting Standards is fully converged with IFRS. This effectivelymeans that organisations currently preparing their financial statements in accordance with Hong Kong SSAP,HKAS and HKFRS will need to start applying these IFRS.

The impact of these fundamental changes and the increased comparability that will result, if not appropriatelymanaged, could directly affect your organisation’s reputation within the marketplace and ultimately its market value.

With these consequences in mind,

Who does this affect?The effect of IFRS extends further than just the finance function of listed companies. Directors, investors,analysts, marketing /PR departments, in effect anyone who uses the information contained in financialstatements, will need to understand the commercial impact of the introduction of IFRS on their business. Unlisted businesses are also affected by the convergence of HK GAAP with international standards.

The HKICPA / ICAEW IFRSLearning and Assessment Programme

How preparedare you?

can your organisation afford not toprioritise IFRS in 2005?

the ICAEW Assessment offersa highly respected qualification.

Are youready?

Hong Kong Institute of CPAs is pleased to introduce a joint programme developed by the dedicated IFRS specialists of the Institute of Chartered Accountants in England and Wales (ICAEW). If you need to demonstrate competence in IFRS, or are looking to enhance your career prospects as an IFRS specialist,

Introducing the

5

IFRS Programme OverviewThe programme currently covers all international standards effective in 2005 and will enable you to: • Understand and apply IAS and IFRS in a business context• Produce and interpret financial statements and information• Make more informed business decisions• Assess the standards’ commercial impact on your business • Provide practical business advice• Regular updates will help keep you up to date of any future changes to the standards

Learning MaterialsIn addition to preparing participants for the IFRS Assessment itself, the ICAEW’s learning materials provide individualsand organisations with a unique resource to enable them to develop a comprehensive understanding of thestandards, in a business context.

IFRS Learning Materials are flexible enough to benefit individuals with no prior knowledge of international standards,and also to provide in-depth support for those who already have a comprehensive understanding of the subject area.

Additionally, the materials are presented in a variety of formats to suit different study preferences and allowindividuals to plan their own study.

IFRS AssessmentThe ICAEW Assessment Programme is on two levels to help meet the different requirements of the marketplace.

Entry Requirements

Sitting the AssessmentsAssessments for both levels are computer based and are available on demand at Pearson VUE’s extensive network ofassessment centres. A list of the centres currently offering IFRS assessments is available on ICAEW website.Additional centres will be opened in response to demand.

Study TimeThe approximate study time for each individual is dependent on their experience and knowledge of internationalstandards. It is, however, estimated that the equivalent of 70 hours full time study is required, for an averageparticipant, for each level of the assessment.

HKICPA / ICAEW IFRS Assessment Programme - OverviewThe HKICPA / ICAEW Assessment Programme is:• High quality – Developed by ICAEW IFRS experts• Flexible – Computer based assessment allow you to access assessments at a time and place of your choice

Relevant to all users and preparers of financial statements•Regular updates provided•

• Available worldwide

IFRS Certificate - Level 1The Certificate focuses on broad knowledge andunderstanding of the international standards.

IFRS Diploma – Level 2 The Diploma develops and assesses theinterpretation and application of the standards ina business environment.

Certificate LevelNo entry requirement

Diploma LevelSuccessful completion of the IFRS Certificate level.

Certificate LevelThe Certificate consists of 100% objective testquestions and is a two hour assessment.

Diploma LevelThe Diploma consists of a mixture of objectivetesting, short questions and business scenarioquestions. The assessment is 2.5 hours.

Further InformationFor further information, to order materials or apply for an assessment, please visit our websitewww.hkicpa.org.hk/ifrs. Alternatively, please contact our training team at (852) 2287 7228or email [email protected]

Assessment Programme HKICPA / ICAEW IFRS

6

Earn your IFRS

Delivered by the co-author of the HKICPA / ICAEW IFRS Award Programme,

this 3 days workshop will provide you with comprehensive coverage of the

entire IFRS in an interactive workshop manner.

Studying at the Certificate Level will develop and demonstrate:

• a broad knowledge and understanding of financial reporting across all IFRS

• the ability to apply principles, concepts and knowledge from IFRS in simple businesssituations

• understanding of financial information produced under IFRS.

The course will cover the most relevant standards to the Certificate Level assessment.

Participants should have an accounting background and experience of financial

reporting.

This tutor lead course will:

• focus on the key aspects of the Certificate programme through the use of lecturesand illustrative examples

• consolidate knowledge through computer based question practice with tutor support

• outline the assessment process and the different question types through hands onpractice

• allow participants to identify gaps in their knowledge and obtain assistance andadditional practice in these areas

Participants will be guided by the IFRS Award Programme Manual (certificate level)

with interactive tutorial throughout the sessions. Tutorial exercises will be selected from

the IFRS Award Programme Practice Assessment CD in a structured manner.

After attending the course participants should be able to complete their studies of the

learning programme, revise their knowledge and attempt the mock examination before

undertaking the formal assessment.

Intensive Summer Workshop 3 days1/2

21/

7

SME Training FundApplication Deadline - 30 June 2005The Trade and Industry Department will cease acceptingnew applications for the SME Training Fund witheffect from 1 July 2005. Applications mustreach the Department on or before 30 June 2005.Late submissions will not be entertained.Details at http://www.smefund.tid.gov.hk/eng/stf.html

Workshop leader

Nick is a Senior Lecturer at ManchesterMetropolitan University Business School(MMUBS) in the UK, where he specialises inadvanced financial reporting and internationalaccounting. Prior to joining the MMUBS heheld senior financial positions in UKmultinational enterprises.

Course fee HKICPA members HK$ 11,500Non-members HK$ 13,500Inclusive of the IFRS AwardProgramme Learning &Assessment Pack

Venue To be advisedClass Size Around 40

It would be advisable for each participant tohave access to the International FinancialReporting Standards ISBN 1-904230-44-Xas published by the IASB. A copy can be purchasedthrough Hong Kong Institute of CPAs at bulkdiscount price.

To enrol, please complete theenrolment form in page 15.

this summer26 – 29 July 2005

Applying forthe Formal Assessment

The certificate assessment programme

covers all extant standards and

interpretations that form part of the IASB

‘2005 Stable Platform’. The recommended

study time before attempting the

Assessment is 70 hours. This is through

the use of the Programme Manual and

the Practice Assessment Pack.

For information on how to

apply for an assessment go to

www.hkicpa.org.hk/ifrs.

You will also find important information

on what happens on the assessment

day and what you can take into the

exam with you.

On successful completion of the certificate

assessment, you will receive a Certificate

of Achievement by post and will be

eligible for the Diploma level assessment.

(Details of the Diploma level learning and

assessment programme will be announced

in due course)

Nick Scott BSc FCA

Enquiries:

2287 7228

credential

8

HKICPA HKFRS “CPD”Workshops

HKAS 40 Investment Property 30 July 2005 (Sat)HKAS 17 Leases

Time : 9:00 a.m. – 12:00 noonCPD Credit Hours : 3 hoursVenue : SCOPE, City University of Hong Kong (Admiralty Centre)

Workshops

HKAS 19 Employee Benefits 27 August 2005 (Sat)HKFRS 2 Share-based Payment (Relating to Employee Benefits)

Time : 9:00 a.m. – 12:00 noonCPD Credit Hours : 3 hoursVenue : SCOPE, City University of Hong Kong (Admiralty Centre)

HKAS 16 Property, Plant and Equipment 17 September 2005 (Sat)HKAS 36 Impairment of Assets

Time : 9:00 a.m. – 12:00 noonCPD Credit Hours : 3 hoursVenue : The Chinese Manufacturers’ Association of Hong Kong

Ms. Tsang has accumulated years of audit experience from international

professional firms covering Hong Kong major listed companies and

multinational enterprises. She is currently specializing in transaction

support practice, providing advisory services to corporate and financial

investors for their mergers and acquisitions in Asia and around the world.

Workshop leader:

Ms. Judy TsangBA, MBA, MSc, CPA,CPA (Australia), FCCA

Target Audience : All interested parties or all the preparers, usersand auditors of financial statements and those whowant to familiarise with the new Hong KongAccounting Standards

Language : CantoneseFee per session : HK$750 HKICPA member / student / IA / HKAAT

member / studentHK$1,500 non-member

Class Size : Around 40

9

HKAS 38 Intangible Assets 15 October 2005 (Sat)HKAS 2 Inventories

Time : 9:00 a.m. – 12:00 noonCPD Credit Hours : 3 hoursVenue : Pacific Place Conference Centre

HKAS 12 Income Taxes 10 December 2005 (Sat)

Time : 9:00 a.m. – 12:00 noonCPD Credit Hours : 3 hoursVenue : The Chinese Manufacturers’ Association of Hong Kong

HKAS 21 The Effects of Changes in 26 November 2005 (Sat)Foreign Exchange Rates

HKAS 18 RevenueHKAS 20 Accounting for Government Grants and

Disclosure of Government AssistanceHKAS 11 Construction ContractsHKAS 23 Borrowing Costs

Time : 9:00 a.m. – 1:00 p.m.CPD Credit Hours : 4 hoursVenue : Novotel Century Hong Kong

and Seminars

10

• Introduction of the requirements of HKFRS 3,including- Scope and purchase method of accounting- Identifiable assets, liabilities and contingent

liabilities- Accounting for goodwill and intangible assets

• Update of the corresponding amendments in HKAS36 and 38

• Potential contentious and implementation issues• Relevant practical examples and real cases

Issues in Applying HKFRS 3, HKAS 36 and HKAS 38 22 July 2005 (Fri)

Time : 6:30 p.m. – 9:30 p.m.CPD Credit Hours : 3 hourVenue : Novotel Century Hong KongFees : HK$450 HKICPA member / student / IA / HKAAT member / student

HK$700 non-member

The introduction of HKFRS 3 Business Combinations together with the corresponding amendments in HKAS 36Impairment of Assets and HKAS 38 Intangible Assets have imposed significant changes on the accounting ofbusiness combinations, goodwill, negative goodwill, intangible assets and related impairment review. Topics to bediscussed will include:

SeminarsMr. Lam is experienced in providing assurance and financial advisory

services to various clients, including local arms established by listed or

private companies from Africa, HK, Mainland China, Netherlands, Russia

and US Fortune 100 company. One of his current tasks is to assist his

clients in compliance with the new financial reporting standards. He is

also actively involved in the training of the new financial reporting

standards for accountants, journalists and general public in various

seminars and workshops and by using real life cases and examples.

One of his cases won the gold award in HKICPA’s first accounting case

competition in 2001.

Speaker:

Mr. Nelson LamFCPA(Practising), CFA, MSc,MBA, BBA(Hons), ACA, ACS,CPA(US), FCCA

Target Audience : All interested parties or all the preparers, users andauditors of financial statements and those whowant to familiar with the new standards onproperty, plant and equipment, leases andinvestment property

Language : CantoneseClass Size : Around 200

11

Issues in Applying HKAS 16, 17 and 40 (Re-run) 26 July 2005 (Tue)

Time : 6:30 p.m. – 9:30 p.m.CPD Credit Hours : 3 hours

Venue : Hong Kong Convention & Exhibition Centre

Fees : HK$300 HKICPA member / student / IA / HKAAT member / studentHK$480 non-member

Full set of HKFRS is effective from 2005 and imposes significant changes on the current accounting practice.In particular, significant concern and attention have been raised on the accounting of property, plant andequipment (HKAS 16), leases (HKAS 17) and investment property (HKAS 40). Topics to be discussed will include:

• Update on major changes from the supersededHKSSAP 13, 14 and 17

• The implication of the changes introduced by HKAS16, 17 and 40

• Potential contentious and implementation issues

• Relevant practical examples and real cases• Effective and efficient ways in applying the new

standards

Issues in Applying HKFRS 5 and HKAS 27, 28 and 31 9 August 2005 (Tue)




The introduction of HKFRS 5 Non-current Assets held for Sale and Discontinued Operation, has imposed new

requirements on the measurement and disclosures of the non-current assets held for sale and the disclosures

of discontinued operations. Simultaneously, the amendments on HKAS 27 Consolidated and Separate

Financial Statements, HKAS 28 Investments in Associates, and HKAS 31 Investments in Joint Venture have

refined the exemption criteria and incorporated new requirements on separate financial statements and the

new requirements of HKFRS 5. Topics to be discussed will include:

• Introduction and implication of the newrequirements of HKFRS 5, including

• Classification of non-current assets or disposalgroup as held for sale

• Measurement and disclosures of non-currentassets or disposal group as held for sale

• Presentation and disclosures of discontinuedoperations

• Refined exemption criteria in HKAS 27 and itsimplication on HKAS 28 and 31

• Implications of the amendments of HKAS 27, 28and 31

• Discussion on proportionate consolidationintroduced by HKAS 31

• Relevant practical examples and real cases

12

Overview of HK(IFRIC) Interpretations 1 November 2005 (Tue)1, 2, 3, 4 and 5




While full set of HKFRS is effective from 2005, certain HK(IFRIC) Interpretations (previously HKFRS Interpretations)are also introduced, including HK(IFRIC) Interpretations 1, 2, 3, 4 and 5. They give authoritative guidance onsome identified financial reporting issues. Topics to be discussed will include:

• Overview of the major guidance of the HK(IFRIC)Interpretations 1, 2, 3, 4 and 5

• Potential contentious and implementation issues

• Implication of the Interpretation on applying therespective standards

• Relevant practical examples and real cases

HKFRS 6 Exploration for and Evaluation 5 October 2005 ( Wed)of Mineral Resources and HKAS 41 Agriculture




Together with HKAS 41 Agriculture, the latest HKFRS, HKFRS 6 Exploration for and Evaluation of MineralResources, has introduced new requirements on accounting for agriculture and exploration and evaluationexpenditures incurred on mineral resources. Topics to be discussed will include:

• Overview of the new requirements of HKFRS 6,including

• Recognition and measurement of exploration andevaluation assets

• Impairment requirement under HKFRS 6

• Review the requirements of HKAS 41• Potential contentious and implementation issues of

HKFRS 6 and HKAS 41• Relevant practical examples and real cases

Issues in Applying HK Interpretations 1, 2 and 3 5 September 2005 (Mon)




While full set of HKFRSs is effective in 2005, certain locally developed Interpretations have also been introduced.HK Interpretation 1 The Appropriate Polices for Infrastructure Facilities (previously SSAP-Int 22), HK Interpretation2 The Appropriate Policies for Hotel Properties (previously SSAP-Int 23) and HK Interpretation 3 Revenue - Pre-completion Contracts for the Sale of Development Properties (previously SSAP-Int 24) would have significantimpact to infrastructure facilities, hotel properties and property sellers and developers. Topics to be discussed willinclude:

• Overview of the new local Interpretations• The implication of the Interpretations on

infrastructure facilities, hotel owners and propertydevelopers

• Potential contentious and implementation issues• Relevant practical examples and real cases

13

SeminarsSpeaker:

Mr. Eric TangMr. Matthew Sze

Eric Tang, FCPA, is an audit partner of Deloitte Touche Tohmatsu inHong Kong with more than 15 years of extensive audit experience,particularly with listed companies and corporate finance, and advisesclients on initial public offerings. Mr. Tang joined the firm’s StrategicCareer Development Program in 1992 and worked in its Los Angelesoffice for a period of eighteen months where he gained muchexperience in US GAAP.

Matthew Sze, CPA, is a senior manager of Deloitte Touche TohmatsuHong Kong Assurance and Advisory Services with over 10 years ofextensive audit experience, particularly with listed and multi-nationalcompanies, and advises clients on IPOs, acquisitions and financial reporting.

Language : Cantonese supplemented with English

A Closer Look at HKAS 21 8 August 2005 (Mon)“The Effects of Changes in Foreign Exchange Rates”

Time : 6:30 p.m. – 8:00 p.m.CPD Credit Hours : 1.5 hours



Topics to be discussed will include:

• Elaboration on the denfinitions• Reporting currency versus funtional currency• Initial recognition and recognition of subsequent

changes

• Translation• Tax effects of all exhange differences• Hedge accounting for foreign currency items

DE

CN

OV

OC

TS

EP

AU

GJU

LHKICPA HKFRS CPD Programme at a glance

Date Time Formt Topic Speaker Venue

22-Jul-05 6:30 - 9:30 p.m. Seminar HKFRS 3 Business Combinations Nelson Lam Novotel CenturyHKAS 36 Impairment of Assets Hong KongHKAS 38 Intangible Assets

26-Jul-05 6:30 - 9:00 p.m. Seminar HKAS 16 Property, Plant and Equipment Nelson Lam Hong Kong ConventionHKAS 17 Leases & Exhibition CentreHKAS 40 Investment Property

30-Jul-05 9:00 - 12:00 noon Workshop HKAS 40 Investment Property Judy Tsang City University of Hong KongHKAS 17 Leases (Admiralty Centre)

8-Aug-05 6:30 - 8:00 p.m. Seminar A Closer Look at HKAS 21 Eric Tang & Hong Kong Convention- The Effects of Changes in Matthew Sze & Exhibition Centre

Foreign Exchange Rates

9-Aug-05 6:30 - 9:30 p.m. Seminar HKAS 27 Consolidated and Separate Nelson Lam Hong Kong ConventionFinancial Statements & Exhibition Centre

HKAS 28 Investments in AssociatesHKAS 31 Investments in Joint VentureHKFRS 5 Non-current Assets held for

Sale and Discontinued Operation

27-Aug-05 9:00 - 12:00 noon Workshop HKAS 19 Employee Benefits Judy Tsang City University of Hong KongHKFRS 2 Share-based Payment (Admiralty Centre)(Relating to employee benefits)

5-Sep-05 6:30 - 8:30 p.m. Seminar Hong Kong Interpretations 1 Nelson Lam Hong Kong Convention &(previously SSAP-Int 22) The Exhibition CentreAppropriate Polices for InfrastructureFacilities, 2 (previously SSAP-Int 23)& 3 (previously SSAP-Int 24) TheAppropriate Policies for Hotel Properties& Revenue - Pre-completion Contractsfor the Sale of Development Properties

17-Sep-05 9:00 - 12:00 noon Workshop HKAS 16 Property, Plant and Equipment Judy Tsang The Chinese Manufactuers’HKAS 36 Impairment of Assets Assocation of Hong Kong

5-Oct-05 6:30 - 8:30 p.m. Seminar HKFRS 6 Exploration for and Evaluation Nelson Lam Hong Kong Convention &of Mineral Resources Exhibition Centre

HKAS 41 Agriculture

15-Oct-05 9:00 - 12:00 noon Workshop HKAS 38 Intangible Assets Judly Tsang Pacific Place ConferenceHKAS 2 Inventories Centre

1-Nov-05 6:30 - 8:30 p.m. Srminar Overview of HK(IFRIC)-Int 1 Changes in Nelson Lam Hong Kong Convention &Existing Decommissioning, Restoration Exhibition Centreand Similar Liabilities, 2 Members’ Sharesin Co-operative Entities and Similar 3Emission Rights, 4 Determining whetheran Arrangement contains a Lease, 5 Rightsto Interests Arising from Decommissioning,Restoration and EnvironmentalRehabilitation Funds

26-Nov-05 9:00 - 1:00 p.m. Workshop HKAS 21 The Effects of Changes in Judy Tsang Novotel Century Hong KongForeign Exchange Rates

HKAS 18 RevenueHKAS 20 Accounting for Government

Grants and Disclosure of GovernmentAssistance

HKAS 11 Construction ContractsHKAS 23 Borrowing Costs

10-Dec-05 9:00 - 12:00 noon Workshop HKAS 12 Income Taxes Judy Tsang The Chinese Manufactuers’Assocation of Hong Kong

Continuing Professional DevelopmentEnrolment Form

Membership No. Full Name of Participant(s) Name of Course Date FeesMembershipStatus

CTSystem

Payment enclosed

15

16

FTC Programmeon

Anthony CrosslandGroup Finance Manager, The Co-operative Group

The in-house IFRS course that FTC devised for uswas ideally tailored to the needs of our complex anddiverse group of businesses. All our senior financestaff felt it was highly relevant and informative

“”

We are a training company. Our goal is very simply, to meetour clients’ needs. Our Professional Qualification Division hasa single goal of getting students through their examinations.Our Professional Development Division’s goal is to makeemployees and, therefore, organisations more productive.

FTC’s CPD programmes allow you to keep up to datewith the latest changes in financial reporting, corporategovernance or assurance and meet the requirements ofthe Hong Kong Institute of Certified Public Accountants(HKICPA) for CPD with the minimum of fuss.

Given the practical nature of the programmes, ourProfessional Development team of lecturers are allexperts in their area. As ex-practit ioners with awealth of Asian and wider international experience,y o u c a n b e s u re t h a t a F T C P ro f e s s i o n a lDevelopment course will provide you with the toolsfor improved performance. Courses are constantlyupdated and introduced to reflect industry practiceand future developments.

17

Bruce CowieBruce is a UK Chartered Accountant and has beenlecturing full time on Financial Reporting topics for thepast 20 years.

He has presented to a very wide range of audiences,including multi-national and national companies,many government departments, ICAEW local andnational conferences, and small medium and largefirms of accountants.

In these presentations Bruce has built an enviablereputation of being able to make even the driest ofsubjects interesting.

Bruce specialises in IFRS, US GAAP and UK GAAP,and is an acknowledged expert in InternationalFinancial Reporting Standards, particularly in IAS 32and 39. He also presents regularly on the differencesbetween the three regimes as well as havingcovered Canadian, German, French, Dutch andGerman practice.

Charles Batchelor

Charles is FTC’s Corporate Product Manager for IFRS.He coordinates FTC’s national team of CPD presentersand is responsible for writing and keeping theinternational accounting standards material technicallyup to date.

Charles joined FTC in 1995 and presents both IFRS,UK GAAP and corporate governance courses in the

UK, Far East and Europe. He is FTC’s leading authorityin Financial Reporting compliance issues.

A sample of Charles’s client list for corporate trainingincludes: KPMG, Astra Zeneca, Robert HalfInternational, Robson Rhodes, Scottish Power, Dabs.com, United Utilities, Michelin, BNFL, Johnsons, SSLInternational, Kingfisher plc, Zurich Insurance, MBNA,Co-Op Group, Black Horse and PKF. Charles is amember of the Institute of Chartered Accountants InEngland and Wales and is also a passed CIMA finalist.

Judy RandleJudy is CPD National Product Manager for FTC in theUK. She is responsible for developing FTC’s CPDcourse programme and for presenting public andbespoke technical update courses for a wide range oforganisations.

Judy has over 15 years of training experience. She isan expert in all aspects of both International and UKFinancial Reporting and has lectured extensivelythroughout the UK and in Cyprus, Germany andMalaysia.

Her in-house clients include NM Rothschild & Sons,KPMG, PWC, Brewin Dolphin, PKF, The Co-operativeGroup, Johnson Matthey and Reg Vardy Plc.

Judy qualified as a UK Chartered Accountant withPWC and worked as an audit manager with a trainingrole in their Zimbabwe office. She joined FTC in 1994.

PROFILESCOURSE DIRECTOR

HKFRS / IFRS

18

FINANCIAL REPORTING

WHO WILL BENEFIT

• Accountants involved in thepreparation or audit of IFRSaccounts.

• Those managing the change toIFRS

WHAT YOU WILL GAIN

From 1 January 2005, Hong KongFinancial Reporting Standards(HKFRS) will be converged with IFRS,with 2004 comparatives restatedunder new standards. The course willexplain the main differences betweenIFRS and HK GAAP to help youunderstand the impact it will have onyour business.

CONTENT

The International Framework

Principles of IFRS

Presentation of financial statementsunder IFRS

Summary of the main principles of keyIFRS including major differences from HKGAAP

How the changeover will be applied

6 INTRODUCTION TOINTERNATIONALFINANCIAL REPORTINGSTANDARDS (IFRS)COURSE CODE: CPD1801

WHO WILL BENEFIT

• Accountants involved in thepreparation or audit of IFRSaccounts

WHAT YOU WILL GAIN

The course looks in detail at key IASs/IFRSs. It will ensure for each standardthat you:

- understand the main provisionsand the impact on your financialstatements

- appreciate the problem areas ofapplication

- are aware of proposeddevelopments

CONTENT

The course will include:

IAS 12 Deferred taxation

IAS 19 Employee benefits

IFRS 1 First time application of IFRS

IFRS 3 Business combinations

This course can be structured to includeother IASs/IFRSs upon your request.

3 INTERNATIONALFINANCIAL REPORTINGSTANDARDS (IFRS) –FURTHER ASPECTSCOURSE CODE: CPD1802

COST

(includes course notes)

◗ Member HK$2,240

◗ Non-member HK$2,800

◗ Duration 2 x 3 hours

COST


◗ Member HK$1,120



‘Very useful course – best I have heard onthis somewhat dry and complicated topic.Stayed interested throughout andunderstood it!!’Recent delegate

‘Presentations were lively and interspersedwith questions and answers’‘Lecturer excellent – he made what couldbe a been a very dull topic sound exciting’Recent delegate

Tutor: ..................... Judy Randle

9.30am-12.30pm

19 August 2005

1.30pm-4.30pm


9.00am-12.00pm

20 August 2005

19

FINANCIAL REPORTING

1919

WHO WILL BENEFIT

• Finance staff involved in thepreparation or audit of IFRSaccounts for financial servicescompanies

WHAT YOU WILL GAIN

The course looks in detail at key IASs/IFRSs which are particularly relevantto companies in the financial servicessector. It will ensure for each standardthat you:

- understand the main provisionsand the impact on your financialstatements

- appreciate the problem areas ofapplication

- are aware of proposeddevelopments

6INTERNATIONALACCOUNTINGSTANDARDS (IAS) FORFINANCIAL SERVICESCOMPANIESCOURSE CODE: CPD1803

CONTENT


- IAS 32 & 39 Financial instruments- IAS 18 Revenue recognition – Interest

income- IAS 17 Leases- IFRS 3 Business combinations- IFRS 1 First time application of IFRS

WHO WILL BENEFIT

• Accountants in industry,commerce or practice whoneed to be aware of themassive changes currentlytaking place in financialreporting.

• Anyone returning to dealingwith financial reporting afterseveral years break.

WHAT YOU WILL GAIN

This course will bring you right up todate on all the latest developmentsand emerging issues. Practicalexamples, discussion and actionpoints will make it relevant to yourorganisation.

CONTENT

Latest

- Overview of HK accounting standards- Update on the new HK financial

reporting standards- Update on financial reporting exposure

Drafts- Discussion and Consultation papers- Convergence with IFRS

This course is updated as newdocuments are issued.

COST


◗ Member HK$2,240



6HK ACCOUNTINGSTANDARDS UPDATE &CONVERGENCE WITHIFRSCOURSE CODE: CPD1804

COST


◗ Member HK$2,240



Tutor: ............. Charles Batchelor

9.30am-12.30pm

1 - 2 December 2005

Tutor: .................... Bruce Cowie

9.30am-12.30pm 7.00pm-10.00pm

7 September 2005 8 September 2005


2.00pm-5.00pm 6.00pm-9.00pm

4 December 2005

September Schedule

December Schedule

20

FINANCIAL REPORTING

WHO WILL BENEFIT

• CFOs, Accounting staffresponsible for the preparationof IAS compliant financialstatements and FinanceManagers involved in theongoing measurement ofFinancial Markets performance.

• Treasury and PortfolioManagers will also gain avaluable insight into theimplications of IAS 32 and IAS39 on their dealing and hedgingactivities and the associatedimpact on profit and lossrecognition.

WHAT YOU WILL GAIN

The workshop will give participants athorough understanding of how toimplement IAS 32 and IAS 39 and theimpact these accounting changes willhave on their portfolios and hedgingactivities.

12 FINANCIALINSTRUMENTSACCOUNTINGSTANDARDS IAS 32 & 39IMPLEMENTATIONWORKSHOPCOURSE CODE: CPD1805

COST


◗ Member HK$4,480



CONTENT

Overview of financial instrumentaccounting standards

Classifications and accounting treatment

Embedded derivatives and structuredproducts

Hedging

Measurement

Structured finance and special purposeentities

Financial statements disclosure

“Proves to me that keeping up to date isso important, we will definitely be bookingmore courses”

“Exactly the right level of depth andbreadth – very pleased, thanks”Recent delegate

WHO WILL BENEFIT

• Accountants in industry movinginto a group or subsidiaryaccounting role.

• Anyone who needs to develop(or refresh) their understandingof the principles andpreparation of group accounts.

WHAT YOU WILL GAIN

The course will cover the productionof consolidated accounts, includingassociates and joint ventures fromfirst principles. It will focus on HKGAAP but will highlight differencesfrom IFRS.Practical examples anddiscussion will help you to apply theknowledge gained.

6 GROUP ACCOUNTINGREFRESHERCOURSE CODE: CPD1806

COST


◗ Member HK$2,240



CONTENT

Identification of subsidiaries, exemptionsand exclusions

The fair value exercise and goodwill

Consolidation methods and adjustments

Disposals

Complex group structures

Acquisitions and mergers

Associates and joint ventures

The impact of IFRS


7.00pm-10.00pm 6.00pm-9.00pm

18 August 2005 20 August 2005


9.30am-12.30pm

10 - 11 September 2005

1.30pm-4.30pm

21

FINANCIAL REPORTING

WHO WILL BENEFIT

• Accountants involved in thepreparation or audit of groupaccounts consolidating HK andPRC entities.

• Companies dual listed in HKand PRC which need to preparefinancial statements under bothHK GAAP and PRC GAAP.

• Others with a reasonableknowledge of HK standardswho need to appreciate thedifferences between HK GAAPand PRC GAAP.

6GAAP COMPARISON- HK GAAP VS PRC GAAPCOURSE CODE: CPD1807

WHAT YOU WILL GAIN

The course highlights majordifferences in accounting principlesand disclosures between HK GAAPand PRC GAAP. It helps you correctlyinterpret financial statementsprepared under different GAAP.

CONTENT


- Background / sources of HK GAAP andPRC GAAP

- Major differences between HK GAAPand PRC GAAP

- Presentation of financial statementsunder HK GAAP and PRC GAAP

- GAAP adjustments

WHO WILL BENEFIT

• Those involved in the audit and /or preparation of financialstatements of companies orsubsidiaries reporting underUS GAAP.

• Others with a reasonableknowledge of HK standardswho need to appreciate thedifferences between US GAAP& IFRS / HK GAAP.

WHAT YOU WILL GAIN

In spite of the recent emergence ofIFRS, US GAAP remains the world’smost detailed and influential financialreporting regime.

This course will help delegates:

- understand the key differencesbetween US GAAP & IFRS / UKGAAP

- research problems areas

- be aware of proposeddevelopments

CONTENT

The US regulatory environment andhierarchy of pronouncements

Format and content of accounts

Key balance sheet issues

Important income statement differences

Likely future developments, including theconvergence project

COST


◗ Member HK$2,240



6INTRODUCTION TO USGAAPCOURSE CODE: CPD1808

COST


◗ Member HK$2,240




7 - 8 September 2005

7.00pm-10.00pm


9.30am-12.30pm

9 September 2005

1.30pm-4.30pm

22

FINANCIAL REPORTING

WHO WILL BENEFIT

• Analysts, investors, bankers,lawyers and others who need tounderstand the impact of theintroduction of InternationalFinancial Reporting Standards(IFRS). No prior knowledge ofIFRS is required.

WHAT YOU WILL GAIN

The adoption of IFRS by listedcompanies in 2005 will significantlyaffect their financial statements andkey performance indicators. Thiscourse will give an awareness of theimportant differences between IFRSand HK GAAP to help you correctlyinterpret financial statementsprepared under the new regime.

- Understand the risks & controlaspects of trade financing

6 INTERNATIONALFINANCIAL REPORTINGSTANDARDS FORANALYSTS, INVESTORS,BANKERS & LAWYERSCOURSE CODE: CPD1809

COST


◗ Member HK$2,240



22


5 December 2005

9.30am-12.30pm 1.30pm-4.30pm

CONTENT

The significance of 2005 for IFRS

Presentation and contents of IFRSfinancial statements

The impact of the move to IFRS on keyperformance indicators

COURSE FOR NON-FINANCEPROFESSIONALS

HOW TO ENROLEMAILYou can enrol by email to us [email protected]. Please see theinformation on our booking form forinformation we will need to process yourbooking.

FAXYou can fax the completed booking form(enclosed) to us on 2501 0589.

POSTYou can post the completed booking form(enclosed) to our centres on the back pageof the brochure.

PHONEYou can phone our client service team on2526 3686.

CANCELLATIONS• If you are unable to attend, you may substitute

an alternate delegate at no extra charge.Please let us know as soon as possible.

• Payment of the course fee is due prior to thecourse date.

• Please inform us in writing if you intend tocancel. We accept cancellations up to 14 daysbefore the event and will refund your fees lessan administrative charge.

• Cancellations made within 14 days of the eventwill not be refunded. Delegates may attend analternative course free of charge if cancelledat least 4 working days before the course.

• We reserve the right to alter the publishedprogramme, speaker(s), or to cancel an eventat our discretion, in which case our liability shallbe restricted only to any fees paid to us.

FTC HK CENTRESADMIRALTY Unit 2, 1/F Far East Finance Centre

16 Harcourt Road, AdmiraltyTel: 2526 3686Fax: 2501 0589

OPENING HOUR9:00am - 9:00pm Mon - Fri11:00am - 3:00pm Sat

WANCHAI 5/F Siu On Centre,188 Lokchart Road, Wanchai

23

FINANCIAL REPORTINGTo make your booking, please complete the booking form and fax or post it to us

CONTACT DETAILS

Person to receive joining instructions

Company name and address

Telephone Fax E-mail

We will email to confirm we have received your booking and will send joining instructions approximately 10 days beforethe course. If you do not receive joining instructions please phone our customer service team at the appropriate centre.

COURSE

PAYMENT DETAILS

Cash / EPS

I enclose a cheque made payable to "The Financial Training Company" for

Please charge my ❍ Mastecard

Card No.

CANCELLATIONS

• If you are unable to attend, you may substitute an alternate delegate at no extra charge. Please let us know as soon as possible.

• Payment of the course fee is due prior to the course date.

• Please inform us in writing if you intend to cancel. We accept cancellations up to 14 days before the event and will refund your fees less anadministrative charge.

• Cancellations made within 14 days of the event will not be refunded. Delegates may attend an alternative course free of charge if cancelled at least4 working days before the course.

• We reserve the right to alter the published programme, speaker(s), or to cancel an event at our discretion, in which case our liability shall be

restricted only to any fees paid to us.

BOOKING FORM: CPD Public courses

DELEGATE JOB TITLE MEMBER NO FEES *

DISCOUNT

* 20% Discount for HKICPA members - must provide HKICPA ID to verify status.

$

$

$❍ Visa ❍ AE for

www.ftchongkong.comSignature : Date :

Official use ST ER PY

I agree to the terms and conditions stipulated above.

Tel: 2526 3686 Fax: 2501 0589

Signature: Expiry Date:

Card Holder:

Hong Kong Institute of Certified Public Accountants4th Floor, Tower Two, Lippo Centre,89 Queenway, Hong Kong.Tel: (852) 2287 7228Fax: (852) 2865 6603Email: [email protected]: www.hkicpa.org.hk

Documents

IFRS HKFRS Training 0603j+app1.hkicpa.org.hk/ifrs/brochure.pdf · 6 Earn your IFRS Delivered by the co-author of the HKICPA / ICAEW IFRS Award Programme, this 3 days workshop will