IFRS 9 Financial instruments - for commercial companies | KPMG | SK

IFRS 9 Financial instruments - for commercial companies

New standard significantly changes criteria for classification of financial assets and accounting for deterioration of financial assets.

19 April 2018, 8:30AM - 12:30PM, CET

New standard significantly changes criteria for classification of financial assets and accounting for deterioration of financial assets. Classification depends on characteristic of business model and contractual cash flows’ characteristics test.

New model of deterioration of financial assets applies also on trade receivables, lease and contract assets. This model assumes that loss from financial asset (even a little), can arise anytime. One can expect financial assets adjusting items can be higher and more volatile.

Standard also brings new requirements on security accounting, which is closer to common practise of risk management. This way security accounting can be much more usable.

New standard can also markedly influence conditions in loan contracts between commercial companies and banks.

New requirements are effective from 1 January 2018.

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Agenda

Explanation of new principles of IFRS 9 using illustrative examples specific for commercial companies, including:

  • Definition of Trade Model
  • Definition of characteristics of cash flow (SPPI criterion)
  • Changes in classification of financial assets
  • Model of expected losses as new model in IFRS 9
  • Definition of failure and significant increase of credit risk
  • Practical simplifications for expected losses according to standard
  • New requirements on security accounting and simplification compared to previus condition
  • What changes can be expected in loan contracts from banks
  • New requirements on reporting in financial statements

Opportunity for open discussion with other companies to share the best practice


08.30 – 9.00 registration
09.00 – 10.30 seminar
10.30 – 11.00 coffee break
11.00 – 12.30 seminar

Guide

Date
19 April 2018 (Thursday)

Place
KPMG Conference Centre
River Park, Dvořákovo nábrežie 10,
Bratislava

Language
Slovak

Participant fee
165 € bez DPH (198€ s DPH)

Participant fee includes
study materials, refreshments and beverages

Registration
Kristína Jarošová
kristinajarosova@kpmg.sk