#impairment testing

Shasat, a renowned name in the field of professional training and development, has recently unveiled an extensive workshop designed to navigate the intricacies of IPSAS 41. Titled "IPSAS 41 Workshop: Classification, Measurement, Impairment, and Hedge Accounting," this program is set to make waves in the world of financial reporting.

IPSAS 41 Financial Instruments, which came into effect for annual reporting periods commencing on or after January 1, 2023, marks a significant departure from its predecessor, IPSAS 29 Financial Instruments: Recognition and Measurement. The new standard introduces a classification and measurement model for financial assets, an expected credit loss model for impairment testing, and a more comprehensive hedge accounting model.

This change is expected to have a profound impact on public sector entities, given the increasing integration of finance-related functions. The primary shake-up comes from alterations to the Impairment Methodology, making it crucial for organizations to equip themselves with the necessary knowledge and strategic insights to navigate these changes successfully.

The IPSAS 41 workshop offers participants an opportunity to benefit from the expertise of seasoned instructors who will provide valuable insights into the development and direction of IPSAS 41. The program will highlight key differences between previous and revised approaches and address emerging challenges faced by the industry.

Additionally, instructors will guide participants through the implementation roadmap of these critical accounting standards, shedding light on their implications for businesses.

The workshop encompasses a wide array of key learning features, including understanding the amortized cost criteria for financial instruments, applying the Business Model test and SPPI criteria to existing portfolios, and knowing when to utilize fair value through the Surplus/Deficiency category. Participants will also gain insights into accounting for unquoted equity instruments and hybrid instruments, managing Own Credit Risk, addressing accounting mismatches, and understanding the classification and measurement of financial instruments.

Furthermore, the workshop delves into the difference between the incurred loss and expected credit loss models for impairment, the application of the new expected credit loss model, and assessing its impact on impairment allowances. It also covers the application of the expected credit loss model to trade receivables, financial guarantees, and revolving credit facilities. Participants will learn about hedge engineering, compliance with hedge accounting documentation requirements, designing and testing hedge effectiveness, identifying 'hidden' derivatives, and when to separate hybrid instruments.

For those interested, the workshop offers various dates and locations, ensuring accessibility to a global audience.  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.

IPSAS 41 Financial Instruments Workshop | GID 220052 |  Brussels: October 16, 2023

IPSAS 41 Financial Instruments Workshop | GID 220053 | Abu Dhabi: November 30, 2023

IPSAS 41 Financial Instruments Workshop | GID 220054 | Washington: November 3, 2023

IPSAS 41 Financial Instruments Workshop | GID 220055 | Accra:1 December 1, 2023

IPSAS 41 Financial Instruments Workshop | GID 220057 | Singapore: December 22, 2023

IPSAS 41 Financial Instruments Workshop | GID 220059 | Geneva: November 1, 2023

IPSAS 41 Financial Instruments Workshop | GID 220060 | Montreal: November 21, 2023

IPSAS 41 Financial Instruments Workshop | GID 220050 | Online | Available on Request

For more details and to enrol in the IPSAS Training Courses in collaboration with PwC, please visit:

https://shasat.co.uk/product-category/public-sector-accounting-immersion-workshop-3-days-with-pwc/

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