This workshop provides a detailed review of the significant technical requirements of International Financial Reporting Standards (IFRSs), including accounting and reporting for financial instruments, as well as other standards relevant to the financial services sector. It includes coverage of the requirements of the relevant standards, hands-on case studies, examples, exercises, small-group projects and benefits from the interactive participation of the attendees. Our specialist instructors explain the principles clearly and simply while providing real-world examples, thereby immersing participants in the intricacies of IFRSs and the implications for banks and other financial institutions. 

Utilising a highly interactive format, the workshop provides a comprehensive overview of the effects that IFRS 9 (financial instruments) has on the financial statements of financial institutions, including updates to the standard as part of the post-implementation review and disclosure expectations set out by key regulators. 

Introduction to IFRSs 

• IFRSs and the IASB structure 

• Overview and organisation of the standards 

• IFRS (conceptual framework) 

• Overview of primary IFRS financial statements 

• Concept of "other comprehensive income" 

• Time value of money 

• IFRS 13 (fair value measurement) 
  
  

Financial statements 

• IAS 1 (presentation of financial statements) 

• IAS 7 (statement of cash flows) 

• IAS 8 (accounting policies, changes in accounting estimates and errors) 

• IAS 10 (events after the reporting period) 

• IAS 33 (earnings per share) 

• IAS 34 (interim financial reporting) 

• IFRS 8 (operating segments) 

• IFRS 18 (presentation and disclosure in financial statements) – replaces IAS 1 from 1 January 2027 

Financial instruments 

• IAS 32 (financial instruments: presentation) 

• Distinguishing between financial liabilities and equity transactions 

• Offsetting financial assets and financial liabilities 

IFRS 9 (financial instruments) 

• Classification and reclassification of financial instruments 

• Solely Payments of Principal and Interest (SPPI) and business model criteria 

• The "fair value option" 

• Initial and subsequent measurement 

• Derivatives and embedded derivatives 

• Calculation of effective interest rates and application of the effective interest method under various scenarios 

• Repossessed assets 

• Loan fees and origination costs 

• Financial guarantees and loan commitments 

• Derecognition of financial instruments 

• Updates to IFRS 9 classification and measurement 

• Application of the expected credit loss model 

• 12-month and lifetime expected credit losses 

• Significant increase in credit risk 

• Measurement of expected credit losses 

• Modified financial assets 

• Simplification and practical expedients 

• Purchase/origination of credit-impaired financial assets 

• Hedge accounting model 

• Overview of hedging and accounting for three types of hedges – fair value, cash flow and net investment hedge 

• Impact of hedge accounting for interest rate and foreign exchange risk 

• IFRS 9 hedge accounting principles: Hedged items, hedging instruments, qualifying criteria, groups and net positions, hedge documentation, hedge effectiveness requirements, rebalancing and discontinuation 

• Update on the dynamic risk management (macro hedging) project 
  
  

IFRS 7 (financial instruments: disclosures) including expectations set out by UK and European regulators 

Other standards as applicable to banks and financial institutions 

Non-financial assets 

• IAS 16 (property, plant and equipment) 

• IAS 23 (borrowing costs) 

• IAS 38 (intangible assets) 

• IAS 40 (investment property) 

• IAS 36 (impairment of assets) 

Liabilities and leases 

• IAS 37 (provisions, contingent liabilities and contingent assets) 

• IAS 19 (employee benefits) 

• IFRS 16 (leases) 

Revenue and other standards 

• IFRS 15 (revenue from contracts with customers) 

• IAS 21 (the effects of changes in foreign exchange rates) 

• IFRS 1 (first-time adoption of IFRSs (reliefs from retrospective application) 

This course is delivered through a dynamic blend of expert-led instruction and hands-on learning designed to maximise engagement and practical understanding. 

• Group live instruction sessions led by IFRS specialists with deep experience in financial institutions 

• Interactive discussions to explore real-world application and share insights with peers 

• Clear, accessible explanations of IFRS technical requirements with a strong focus on financial instruments and the standards most relevant to financial institutions 

• Presentations supported by real-life examples, practical calculations and live Q&A 

• Targeted exercises and case studies enabling participants to apply concepts in a practical context 

• In line with VantagePoint’s sustainability commitment, course materials are provided in digital format. Printed handouts will be limited to in-class exercises only 

This course provides 40 hours of CPE/CPD credits.

VantagePoint is currently in the process of registering with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Our face-to-face courses are typically held in meeting rooms at centrally located four-star hotels. If you have any queries about the venue for your selected training, please don't hesitate to ask. We will provide updates and ensure that you have all the details you need. 

Virtual courses are delivered via Zoom.