Venue: Best Western Hotel,
Islamabad.
Date: 20th & 21st October,
2008.
Venue: Avari Towers,
Lahore.
rd th
Date: 23 & 24 October,
2008.
Venue: Avari Towers,
Karachi.
Date: 27th & 28th October,
2008.
Registration
Fee: Rs. 15000/- Per
Person.
Discount:10% for 3 or more
Nominations.
Early bird Discount: 5%
th
before 15 of September,
2008.
Last date of Registration:
th
25 September, 2008.
Who Should Attend
? CFOs
? Financial Controllers &
Financial Analysts
? Accounting & Reporting
Managers
? Audit Managers
? Accountants
? Credit Analysts
? Accounting Principles
? Accounting & Reporting
Managers
Financial Reporting dealing with complexities
A 2-day expert-led intensive training course on all aspects of using complex
International Accounting Standards (IAS) and International Financial
Reporting Standards (IFRS). Participants will understand the content of
complex standards/IFRS. A detailed grasp of IFRS is now essential for many
preparers, auditors and users of financial statements. It is also vital background
knowledge for all other accountants.
TRAINING COURSE OBJECTIVES
The objectives include enabling participants to:
? Understand the content of standards
? Appreciate how the standards fit together and to learn how to resolve
apparent conflicts
? Apply IFRS to practical accounting problems
? Anticipate imminent changes to the requirements of IFRS
KEY TECHNICAL TOPICS INCLUDE:
? IAS 12 Income Taxes
? IAS 19 Employee Benefits
? IAS 32 Financial Instruments - Disclosure
? IAS 39 - Financial Instruments Recognition & Measurement
? IFRS 2 Share based payments
? IFRS 7 Financial Instruments
IAS 12 - Income Taxes
Tax is usually a significant item on income statement and statement of
financial position (Balance Sheet). Its determination might require application
of judgment. This may make it a sensitive item in the financial statements,
thus in decision making. It is important for companies to have the correct tax
calculations for disclosures and legislation reasons.

Trainer’s Profile
Trainer: Mr. Sajid Shafiq
Sajid is a chartered accountant. He
started his career with KPMG, a
leading chartered accountants firm.
His interest in Financial Reporting,
Financial Analysis and Tax Planning
made him expert in these domains. He
has got over 12 years of experience of
handling financial reporting problems
as a practitioner as well as a
teacher/trainer. His knowledge and
experience helped him solve the
practical implications of the
accounting / reporting standards. Sajid
has been teaching financial reporting
at advanced level of CA and ACCA
courses for the last 8 years. He also
conducted various workshops /
training events on the subject,
organized by ICAP and other
institutes. His in depth understanding
of the subject has helped participants
in dealing with financial reporting
complexities. Currently, he is acting
Associate Dean of University of
Lahore & Principal of Islamabad
College of Accounting & Finance.
Suite # 08,2nd Floor,
A-1 Plaza, F-10 Markaz,
Islamabad.
Voice: +92(051)2104383-84
Fax: +92 (051)2104387
Email: consultfinman@live.com
Website: www.consultfinman.com
In the workshop, we will learn
? Calculation mechanics of current tax and basic concepts of deferred tax
? Recognition rules relating to deferred tax recognition for temporary
differences, exemptions thereof and rules applicable to recognition of
deferred tax assets
? Identifying and applying the appropriate tax rate for measurement of
deferred tax
? Determining where should the effect of deferred tax be accounted for, its
presentation and related disclosures
IAS 19 Employee Benefits
IAS 19 is yet another very important, relevant and a bit tricky accounting
standard dealing with a fundamental aspect of every enterpriseEmployee
Benefits. Ranging from per hour rate to long term jubilees and sabbatical
pays, schemes of fixed payment on the one hand and getting share in profits
on the other, serving as a full time employee to having entitlement to have a
role in decision making by way of employee share option scheme--- indeed
the variety of employee benefits really make the subject interesting, learning
and challenging.
In the workshop, our aim primarily will be to
? Identify what is really meant by employee benefit and what various types
come under discussion in IAS 19 alongwith the fundamental principle on
which the entire recognition-measurement criteria is build up
? An assortment of employee benefits i.e. to identify under which category
a particular employer-employee arrangement falls
? Dealing with post employment defined contribution plans
? Learning rules of post employment defined benefit plans
? Accounting for termination benefit resulting from staff redundancy
decisions
? Introduction and recognition-measurement principles of employee
share option schemes
IFRS 2 - Share Based Payments
Share Based Payments are common practice in businesses around the world.
Many companies grant shares and share options to their employees, and
remuneration package often includes share plans and share option plans for
directors, senior executives and other employees. This phenomenon is
gaining popularity in Pakistan too. A correct understanding of Share Based
Payment schemes, their effect on financial reporting of the entity, and
particularly the technical issues relating to recognition and measurement of
these schemes is fundamental .
In the workshop, we will learn:
? Scope of IFRS 2 and exclusion of other equity transactions which fall
outside the scope of IFRS 2
? The three different types of share based payments viz. equity settled, cash
settled and equity settled with cash alternative
? Recognition and measurement principles applicable to all three types of share based
payments
? The disclosure requirements relating to share based payments
IAS 32, 39 & IFRS 7 - Financial Instruments
Financial instruments, is considered as one of the most difficult and complex accounting and
financial reporting area. With the development of financial markets, and ever increasing usage
of financial instruments as means of safeguarding companies from various types of financial
risks has made it imperative for entities to know the effect of financial instruments on their
financial reporting in general and business in particular.
In the workshop, our aim will be to:
SESSION I
? Define a financial instrument, a financial asset, a financial liability and an equity instrument
? Know when to recognize a financial instrument
? Classify financial assets into one of the four financial asset categories
? Apply the appropriate measurement basis for the relevant financial asset or financial liability
category
? Define a derivative and distinguish between normal contracts and derivative contracts
? Identify and understand how to account for embedded derivatives
? Identify and understand how to account for transactions in own equity
SESSION II
? An introduction to various hedging arrangements
? Hedging terminology
? IAS 39 categorization of different types of hedge arrangements
? Accounting and reporting requirements of various types of hedges
SESSION III
? De-recognition of financial instruments
? The differentiation between continued recognition and de recognition
? Evaluating the risk and reward and control criteria as pre conditions for a de-recognition
scenario
? De-recognition and concept of Special Purpose Entities as explained in SIC 12
? Securitization, decision tree and de-recognition of financial liabilities