IFRS 9 in Flux: Navigating Complexities, Overcoming Implementation Hurdles, and Adapting to Continuous Updates

Posted October 2, 2023 by Shasat

Shasat's IFRS 9 workshop equips professionals with knowledge on accounting for financial instruments under IFRS 9, covering recent amendments and complex areas.

In an era where financial accounting plays a pivotal role across diverse industries, Shasat, a prominent educational institution, has unveiled an essential learning opportunity for professionals seeking a comprehensive understanding of the International Financial Reporting Standards (IFRS) 9. This recently launched program aims to empower individuals with in-depth knowledge about the accounting of financial instruments under IFRS 9, which came into effect on 1 January 2018.

The International Accounting Standards Board (IASB) orchestrated a significant overhaul of accounting rules for financial instruments, necessitating a profound understanding of these changes. With numerous insurance companies globally and entities in specific countries actively involved in the implementation of IFRS 9, staying informed is of utmost importance.

Furthermore, in May 2022, the IASB initiated a maintenance project to amend IFRS 9 and IFRS 7 in response to a post-implementation review. Subsequently, in October 2022, the IASB made tentative decisions to introduce additional amendments regarding the derecognition of financial liabilities through electronic cash transfers and disclosure requirements for equity investments under the fair value option.
The core areas of IFRS 9 that this workshop will delve into include classification and measurement, impairment methodology, hedge accounting, and derecognition. Given the pervasive impact of IFRS 9 on business functions, understanding its implications for your overall business model and financial reporting functions is imperative. The changes to the impairment methodology are particularly noteworthy, with most organizations grappling with time constraints to equip their teams with the necessary knowledge and strategic insights for IFRS 9 implementation.

The workshop will feature an esteemed instructor who will share insights and experiences related to the development and direction of IFRS 9. Topics covered will include differences between existing and modified approaches, emerging industry challenges, and an implementation roadmap for these accounting standards. Attendees can also expect discussions on how these changes will affect their businesses.
The workshop promises to be a comprehensive two-day event, offering participants an opportunity to stay current with the latest international accounting standards. This knowledge will better prepare organizations to navigate the impact of these significant changes.

The in-person workshop on IFRS 9 for Financial Instruments offers participants a comprehensive learning experience, covering a wide range of critical topics. Throughout the workshop, attendees will delve into important areas such as understanding recent amendments proposed by the IASB for IFRS 9, achieving amortized cost criteria for financial instruments, applying the Business Model Test and SPPI criteria to existing portfolios, and navigating the fair value through OCI category (FVOCI). Additionally, the workshop will address complex aspects of accounting, including unquoted equity instruments and hybrid instruments, managing own credit risk, addressing accounting mismatches, and changing the classification and measurement of financial instruments under IFRS 9.

Participants will gain valuable insights into the Impairment model, exploring the differences between Incurred loss and expected credit loss models and their impact on impairment allowances. The workshop also covers the application of the expected credit loss model to various financial instruments like trade receivables, financial guarantees, and revolving credit facilities. Furthermore, attendees will learn about hedge engineering, meeting hedge accounting documentation requirements, designing and testing hedge effectiveness, identifying hidden derivatives, and separating hybrid instruments when necessary. To provide a comprehensive perspective, the workshop will conclude by comparing the principal similarities and differences between US GAAP and IFRS in the realm of derivatives and hedge accounting. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IFRS 9 For Financial Instruments Workshop | GID 20002 | Zurich: November 3-4, 2023

IFRS 9 For Financial Instruments Workshop | GID 20004 | Singapore: October 16-17, 2023

IFRS 9 For Financial Instruments Workshop | GID 20005 | Toronto: September 29-30, 2023

IFRS 9 For Financial Instruments Workshop | GID 20007 | Cape Town: October 9-10, 2023

IFRS 9 For Financial Instruments Workshop | GID 20008 | Bermuda: September 28-29, 2023

IFRS 9 For Financial Instruments Workshop | GID 20009 | Sao Paulo: October 16-17, 2023

IFRS 9 For Financial Instruments Workshop | GID 20010 | Seoul: October 30-31, 2023

IFRS 9 For Financial Instruments Workshop | GID 20011 | Dubai: November 14-15, 2023

IFRS 9 For Financial Instruments Workshop | GID 20012 | Sydney: November 22-23, 2023

IFRS 9 For Financial Instruments Workshop | GID 20013 | Miami: December 15-16, 2023

IFRS 9 For Financial Instruments Workshop | GID 20000 | Online | Available on request

For more details and to enrol in the IFRS 9 For Financial Instruments Workshop, please visit:

Shasat's IFRS 9 workshop promises to be an invaluable resource for professionals seeking to navigate the intricacies of financial instruments and their accounting under the International Financial Reporting Standards. Participants can anticipate gaining a profound understanding of IFRS 9 and its implications for their organizations, positioning themselves as informed and well-prepared leaders in the evolving landscape of financial accounting.
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Contact Email [email protected]
Issued By Shasat
Country United Kingdom
Categories Accounting , Banking , Finance
Tags shasat , ifrs 9 , financial instruments , accounting standards , amendments , impairment model , hedge accounting , international financial reporting standards
Last Updated October 2, 2023