ACCOUNTING & IFRS

ACCOUNTING FOR FINANCIAL INSTRUMENTS & CONSOLIDATION IN BANKS (IFRS 9 and IFRS 10)

This course will give you a deep understanding of the challenges faced by banks when applying financial instruments including derivatives accounting under IFRS 9 and when assessing whether a structured entity (i.e. a special purpose vehicle) should be consolidated under IFRS 10. The seminar has a practical approach and is split into two modules. The first module covers financial instruments accounting under IFRS 9. Learning is based on a heavy use of real life examples, taken from the practical discussions that the teacher has had with European global banks. Derivatives, repos and contingent convertible (CoCos) are covered in detail. The second module covers consolidation of structured entities under IFRS 10. The module is taught with a hands-on approach, dissecting and performing a step-by-step assessment of two real life cases: (i) an RBS deleveraging securitisation executed with Blackstone and (ii) an investment fund sponsored by Deutsche Bank. Read more or download course brochure

ADVANCED FINANCIAL ANALYSIS

The course begins by reviewing lessons on valuation, risk assessment and forecasting that can be derived from the financial crisis. A lecture and discussion reviews mistakes made in valuing sub-prime loans compared to other famous valuation errors. This introduction demonstrates that real valuation errors were not made by wrongly estimating items like Beta, the weighted average cost of capital or wrongly measuring surplus cash. Instead, mistakes in evaluating value drivers, effects of surplus capacity and lack of independent analysis has driven most valuation problems. Review of valuation lessons at the beginning of the course provides context for other subjects in the course. Corporate Valuation Modelling uses case studies, hands-on analysis and template models as the primary teaching tools. However, in teaching this course in the past, we have found that some participants are interested in practical mechanics of Excel (macros, offset and indirect functions etc.). Added optional sessions will be held after 5:00 PM to provide instruction on many practical Excel topics. Read more or download course brochure

ANALYSING BANKS FINANCIAL STATEMENTS

The global financial crisis, the collapse of major financial institutions and an unprecedented volatility in the credit and financial markets have highlighted the importance of bank balance sheet analysis. This course provides a comprehensive overview of the most important trends and developments in bank reporting. The programme starts with an introduction to the key principles of IAS/ IFRS accounting principles and policies; the major disclosure requirements and most recent developments will be discussed. The difference between book valuation, accrual accounting and the fair value methodology will be described. In the second part, an in depth understanding of the asset side of the balance sheet will be developed. Particular emphasis will be laid on the treatment of financial instruments, securities, loans and hedge accounting. Delegates will learn how to apply and forecast the credit cycle and the related provisions for credit losses. Read more or download course brochure

COMPANY ANALYSIS :  VALUATION, FORECASTING & MODELLING

Gain fundamental skills, advance your knowledge and learn how to make data work for you with this intensive course.  Globalisation leading to increased penetration of the internet, as well as the opening up of borders are just two of the many reasons that explain the increasing complexity of the business world. As a result, there are now a vast number of resources offering financial and business information. However, the sheer volume of information available has paradoxically made it increasingly difficult to predict what will happen in the future. How do you decide what is relevant, and what isn't? To answer this burning issue, we have designed this course to provide you with a comprehensive and practical range of fundamental analytical and forecasting skills, enabling you to sift through data in an efficient yet thorough way. Read more or download course brochure

 

COMPREHENSIVE TREASURY SINGLE ACCOUNT SYSTEM (TSA) COURSE - [PRINCIPLES, DESIGN & IMPLEMENTATION]

A treasury single account (TSA) is an essential tool for consolidating and managing governments’ cash resources, thus minimizing borrowing costs. In countries with fragmented government banking arrangements, the establishment of a TSA should receive priority in the public financial management reform agenda. Drawing on the lessons of the International Monetary Fund’s work in several countries in establishing a TSA, this course explains its concept, essential features, and potential benefits. It also presents alternative models and approaches for designing a TSA that take into account specific country contexts as well as the preconditions and desirable sequencing for its successful implementation. Finally, the course covers country examples from different regions for the purposes of experience sharing and analysis. Read more or download course brochure

 

FINANCIAL ANALYSIS & REPORT WRITING

Skills covered by this course are critical to professionals working in the areas of budgeting, credit analysis, project evaluation, investment and equity valuation. Financial analysis provides a basis for all investment decision-making and is also essential to producing realistic forecasting models. These in turn help to predict changes in securities prices and the optimal allocation of resources. The course also includes instructions on how to write a useful, focused and impactful financial report that will aid investment decision-making. Understanding, analysing and interpreting financial statements constitutes a key basic skill required across a wide range of functions in the financial services industry. Skills covered by this course are critical to professionals working in the areas of budgeting, credit analysis, project evaluation, investment and equity valuation. Financial analysis provides a basis for all investment decision-making and is also essential to producing realistic forecasting models. These in turn help to predict changes in securities prices and the optimal allocation of resources. The course also includes instructions on how to write a useful, focused and impactful financial report that will aid investment decision-making. Read more or download course brochure

FINANCIAL PRODUCTS DEVELOPMENT PROGRAM

In view of the very tough and highly competitive business environment in which Nigerian Banks operate, licensed financial institutions are compelled to craft business survival strategies through the offering of cutting-edge products and services with the aim of making profit and, delighting their customers. Unfortunately, these product and service offerings have not only delighted some customers excellently well on one side but on the other, have attracted a large number of complaints ranging from poor service delivery or failure to ethical issues which has necessitated the need for constant arbitration by the CBN to adjudicate on the complaints in order to resolve them amicably. This programme is targeted at regulators who are responsible for approving new product and service offering by banks, overall supervision of risk in banks, policy issues, and consumer complaints documentation and resolution. The regulator is an independent statutory body, set up to represent the interests of consumers in the development of policy for the regulation of financial services. It is important that officers in-charge understand the process of product and service development as well as the role of the regulator as an umpire with a view to ensuring compliance with service level terms and conditions within regulatory guidelines. Read more or download course brochure

IFRS ACADEMY

Over the course of program, delegates will gain a thorough knowledge of not only IFRS but also will have the opportunity to gain a deep knowledge in certain critical areas. The global acceptance of IFRS as a basis for financial reporting for both publically traded entities and other entities of public interest, such as state-owned entities, non-profit entities, creates a demand for highly trained financial professionals to implement such standards and principles. Even those with basic knowledge of IFRS and not involved in preparation of financial reports need to stay abreast of the current developments in financial reporting, as changes affect the drafting of sales contracts and lease agreements, to name a few specific hot topics. This workshop is appropriate for both the novice in IFRS financial reporting who needs to be up-to-date quickly, and the veteran financial professional who is looking for not only a refresher course but also an in-depth update course covering the hard-to-understand areas of IFRS. Read more or download course brochure

IFRS FOR FINANCIAL INSTRUMENTS

Accounting for financial instruments is particularly challenging due to the volume of IFRS content, complexity of activity, and rapid changes that are occurring. This is a four-day course to increase delegates’ understanding of financial instrument accounting and disclosure requirements. Applications will be illustrated with real-life financial statements and practical case studies. In addition, through analysis of enforcement actions, delegates will learn the financial instrument accounting areas that most commonly result in regulatory scrutiny and restatements for listed entities. Delegates will receive clear and practical guidance on the new classification and measurement standard IFRS 9 and learn about other upcoming changes to financial instrument accounting and prepare for delegates future financial reporting. Read more or download course brochure

IFRS FOR THE TELECOMMUNICATIONS SECTOR

This course examines international financial reporting issues in detail and their effect on telecommunication entities. Our specialist instructors discuss the critical issues that go beyond mere number-crunching and explain, simply and clearly, the way that telecommunication entities conduct and shape their accounting and reporting practices. By reference to accepted accounting practices in the sector, delegates will leave this course with practical knowledge of the principle-based IFRSs that are applicable to the telecommunications industry. Participants will, for example, learn how to relate the standards on intangible assets and property, plant and equipment to network and telecommunication licenses, understand how cash-generating units are defined in the telecom sector, and be able to apply the revenue recognition principles to prepaid and postpaid sales, multiple element arrangements, and other activities that are unique to the telecom industry. Read more or download course brochure

INTERNATIONAL OIL & GAS ACCOUNTING AND FINANCIAL MANAGEMENT IMMERSION WORKSHOP

This ten-day dual-instructor workshop provides a detailed review of all significant IFRS requirements for the upstream oil and gas sector, including regulatory reporting and the diverse accounting practices that arise from the many commercial and contracting arrangements which are unique to it. It includes coverage of IFRSs, hands-on case studies, examples, exercises, and benefits from the interactive participation of the attendees. The program includes the latest pronouncements, and participants are brought up-to-date on all topics. In addition, participants are provided with information to assist them in researching accounting issues and monitoring future changes. This course looks in depth at diverse accounting practices permitted by IFRS 6 within the exploration and development phase by reviewing these against benchmark treatments in US GAAP. It goes on to consider how IFRS is applied in the development and production phases. In doing so it looks at the unique features posed by joint venture operations and contracting arrangements, in particular Production Sharing Agreements. Read more or download course brochure

IFRS JOINT VENTURE ACCOUNTING FOR THE OIL & GAS INDUSTRY

Joint ventures are extremely common in the international oil and gas industry and, while no two joint ventures are the same, each has a number of common features and implications for the companies that participate in them. While International Financial Reporting Standards (IFRS) prescribe the recognition, measurement and disclosure rules for external financial reporting, there are also a wide range of internal and intra-partner accounting issues to be determined and implemented. This two-day course explains the nature and form of joint ventures and covers in detail the relationships between operators and non-operators in joint ventures, the financing of joint venture operations and the reporting of joint costs. Our specialist instructors also describe internal accounting for the costs and revenues from joint operations from the individual participant's point-of-view. The programme also covers the requirements of IFRS 11 Joint Arrangements and IAS 28 Accounting for Associates and Joint Ventures and is fully up to date with the latest amendments to those Standards. Read more or download course brochure

IFRS ISSUES FOR THE OIL & GAS SECTOR

There are diverse accounting practices among companies in the upstream oil and gas sector, and many commercial and contracting arrangements which are unique to that industry. To provide guidance and a transition for entities in the extractive industries that are adopting IFRS, the IASB issued IFRS 6 'Exploration for and Evaluation of Mineral Resources' in December 2004. Since then no further authoritative guidance specific to oil and gas accounting has been released, and no date given for when work on the extractive industry project might recommence. This course provides an overview of the main accounting and disclosure requirements for upstream exploration and development activities before looking at the application of other key IFRSs to the unique and diverse contracting arrangements of the industry. Read more or download course brochure

IFRS FOR THE REAL ESTATE SECTOR

This course examines international financial reporting issues and their effect on real estate entities. Our specialist instructors discuss the critical issues that go beyond mere number-crunching and explain, clearly and simply, the way the real estate sector conducts and shapes its accounting and reporting practices under existing and new IFRSs. By reference to accepted accounting practices in the sector, delegates leave this course with practical knowledge of the wide spectrum of principle-based IFRSs that are applicable to the real estate sector. Participants will, for example, learn how to relate the standards on property, plant and equipment, leases, business combinations and investment property to leased or sold assets. The program also covers the treatment of investment projects, related borrowing costs and marketing, sales, development and construction expenditures, the appropriate basis for investment property valuation, and disclosure requirements and other issues that are unique to the real estate sector. The course will also provide direction and overview on the new IFRS 15 Revenue Standards and IFRS Leases Standard. Read more or download course brochure

IFRS FOR THE MINERALS & MINING SECTOR

There are diverse accounting practices among companies in the worldwide extractive industry. The IASB has commissioned a research project to review accounting practices for extractive activities. To provide some guidance and a transition for entities in the extractive industry that are adopting IFRS, the IASB issued IFRS 6 Exploration for and Evaluation of Mineral Resources, in December 2004. The Standard applies to expenditures incurred in connection with the exploration and evaluation of mineral resources. This course summarizes the accounting and disclosure requirements of IFRS 6 and discusses the current status of the IASB’s work on accounting for extractive activities. Key accounting standards that affect the industry are also given in-depth coverage, such as IFRS rules on impairment of assets, recognition and measurement of assets, revaluations of certain qualifying assets, decommissioning and site restoration costs, accounting for reserves, disclosures, and hedge accounting. Read more or download course brochure

IFRS FOR THE DOWNSTREAM OIL & GAS SECTOR

The complexities of accounting for oil and gas downstream companies require an ability to properly interpret and comply with the accounting requirements that are applicable to this industry's unique issues. This three-day course focuses on these issues and provides an understanding of a series of major IFRS accounting principles and standards that are particularly germane to the downstream oil and gas business; shows how to apply these accounting rules; discusses financial reporting requirements for the economic events that occur from the purchase of oil and gas at the lease to the ultimate sale of the product to the end-user. The three days intensive IFRS executive course covers both practical and strategic implications of IFRS conversion including technical accounting changes, tax considerations, valuation issues, and technology and system questions. The training also addresses the implication of first time application of IFRS as applicable to the industry. Read more or download course brochure

IFRS FOR ELECTRICITY UTILITY COMPANIES

This course examines in detail international accounting issues and their effect on electric utility companies. Our specialist instructors discuss the critical issues that go beyond mere number-crunching, and explain in clear and simple terms how electric utility companies can conduct and shape their accounting and reporting practices in accordance with international best practices. Unlike US GAAP and other national GAAP, IFRS currently provides little guidance specific to the electric utility industry’s unique business circumstances. Therefore much judgment is required in applying IFRS concepts to areas such as energy contracts, transportation, generation, transmission, distribution, risk management and derivatives. Read more or download course brochure

PREVENTING & DEALING WITH FINANCIAL CRIME

Financial crime can be committed by anyone in an organisation, who is motivated by some need or desire, prepared to rationalise their actions, and thinks they won’t get caught. Preventing Financial Crime will enable you to understand the various types of financial crime and the controls that can be used to limit the opportunities for fraudsters to commit them. More importantly you will look at how to create the right culture within an organisation to not only discourage collusion in fraud but also to encourage reporting and disclosure. Read more or download course brochure

STRATEGIC PLANNING & EFFECTIVE BUDGETING & COST CONTROL

Today, the human mind is often absorbed in so much data, that it has difficulty processing the multitude of facts and relationships simultaneously and sometimes forgets important elements. Thus, as plans become more and more intricate, they should be documented in writing and include qualitative narratives of goals, objectives, and means of accomplishing the objectives. This course will allow the participant to explore and share with other participants new thoughts in the planning, control, and budgeting cycle, resulting in a renewed energy in returning to the workplace and implementing a more focused budgeting process, which communicates useful and timely information to management. Read more or download course brochure