Accounting for Financial Instruments Made Simple
|Event:||Accounting for Financial Instruments Made Simple|
The accounting treatment of financial instruments is both complicated and onerous as it is based on fair value accounting. The accounting standards define a “Financial Instrument” as “any contract that gives rise to both a financial asset of one enterprise and a financial liability or equity instrument of another enterprise.” Simple financial instruments would be receivables, payables, loans, etc. Complex financial instruments involve derivatives, forward contracts and hedging activities.
Due to the complexities surrounding the accounting treatment of financial instruments, there are three accounting standards governing this area ie FRS 132 Financial Instruments: Presentation, FRS 139 Financial Instruments: Recognition and Measurement and FRS 7: Financial Instruments: Disclosures.
Understanding accounting for financial instruments have always been a huge challenge, especially in light of all the developments and changes taking place in the financial reporting landscape. Many preparers and users of financial statements are totally intimidated by the accounting treatment of these instruments.
Course Objective and Methodology
All business entities have financial instruments, from simple cash in hand to the high end derivatives and hedging instruments, but not all companies have complex financial instruments, such as those arising from derivatives and hedging activities. However, most companies have receivables, payables, loans, investments and equity instruments.
The objectives of this seminar are to provide:
a. a simple approach to the understanding and appreciation of the accounting principles ie recognition, measurement and disclosure, of common financial instruments.
The seminar illustrates the basic principles and practical application of the above financial reporting standards by using extensive case studies and financial statements of selected listed companies.
This seminar will cover an overview of the main areas of the following accounting standards:
a. FRS 132 : Financial Instruments : Presentation (effective 1 January 2006)
Accounting for derivatives and hedging will be briefly covered but will not be given computational and accounting emphasis.
Target Audience : All
Ms Lim Geok Heng is a Fellow member of the Association of Chartered Certified Accountants (FCCA,UK) and a Chartered Accountant of the Malaysian Institute of Accountants [CA(M)]. She is also a Certified Professional Trainer (CPT) of the International Professional Managers Association [IPMA,UK].Ms Lim has over 20 years experience in areas comprising auditing, financial accounting, treasury functions, education and corporate training. Her most recent past appointments include the positions of Technical and Training Director of a medium-sized international accounting firm, Training Manager of Ernst & Young, Lecturer in Sunway-University College and Senior Lecturer in Tunku Abdul Rahman College.
Currently, Ms Lim is a freelance technical and training consultant with her own training business, EVO Training and Consulting. She speaks on MASB Reporting Standards (FRS and PERS), and accounting and audit issues regularly and extensively throughout Malaysia for professional accounting bodies such as MIA, ACCA, MAICSA, CIMA, MICPA and CPA Australia. In addition, she also conducts in-house technical training on accounting issues for commercial and listed companies, and private training institutions in Malaysia, Singapore and Thailand.
Ms Lim is engaged on a regular basis by medium-sized accounting firms to provide technical and training services for their professional audit staff as well as their business clients. She was the Chairperson of the ACCA-FRS (Financial Reporting Standards) Committee for 2006 - 2007. In addition to the above, she is also a Panel Member of the annual NACRA (National Annual Corporate Report Award) adjudication.
|Date:||24 Feb 2009|
|Duration:||9.00 am to 5.00 pm|
|Venue:||Concorde Kuala Lumpur|
|Type of Event:||Workshop|
|Cost:||RM300 (Member) RM600 (Non-Member)|
*CPD Units are only verifiable if the event attended provides skills and/or knowledge relevant to your job or career aspirations.
|For further details please contact ACCA Malaysia on 03 2713 5051 or e-mail email@example.com|