detailed program content - ifrs certification

8/11/2019 Detailed Program Content - IfRS Certification

1/32

Advanced Certificate Program on International Financial

Reporting Standards

IFRS Implementation and Compliance

KPMG IN INDIA


2/32

2 2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

Content

About the program

Program Modules

Know your Program Faculty

About KPMG IFRS practice

Synchronous Learning - NIIT Imperia

How to apply

This program is jointly provided by KPMG in India and NIIT Imperia


3/32

2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

About the program

3


4/32


About the program

Professional from KPMG in India wi th significant IFRS conversion experience

Trainer of International Repute

Focused toward challenges to be faced by each stakeholder in

IFRS conversion

Practical inputs on carrying out a conversion exercise

Mix of Experience Sharing Real Life Case Discussion

Use of Illustrative Financial Statements Industry Disclosure

Requirements, etc.

Certification of completion on successful assessment clearance from KPMG in India and NIIT Imperia

Faculty

Program Design

Pedagogy

Certification


5/32


6/32


Who should attend?

This program should be of value to you if you are:

CFO & Finance Director

Analysts, Accountant

Investment Banker

Corporate Banker

Strategic Planner

Auditor

Private Equity & Merger & Acquisition specialist

Tax Director

Consultant

Practicing CA, CS, CWA, and professionals from Indian companies with a global presence


7/32 2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

Program

Modules

7



Overview/Roadmap and IFRS Framework

Presentation of financial statements

Revenue recognition

Business combinations

Financial instruments

Consolidation

The effect of change in Foreign exchange rates

Income taxes

Property, plant and equipment, intangible assets and investment property

Impairment and Provisions/contingencies

Employee benefits, Share based payment, Non-current assets held for sale and

discontinued operations

Leases, borrowing costs, operating segments, events after the balance sheet date, change

in accounting policies and errors

Approach to IFRS conversion

Module Coverage



Upon completion you should understand

The purpose, status and scope of the Framework

The fundamental concepts and definitions upon which IFRSs are

based

The history and objectives of IASB

IASB as an organisation

IFRSs around the world

IASBs work programme

The concept paper of ICAI and current environment on transition

to IFRS

Topics covered in the module

IFRSs issued by the IASB including IFRS 1

IASs issued by the IASC or revisions thereof issued by the IASB

Interpretations issued by the IFRIC and approved by IASB

SIC interpretations approved by the IASB or the IASC

Overview/Roadmap and IFRS Framework




The required components of financial statements

How to apply overall financial statement concepts

and assumptions

The structure of financial statements


Statement of financial position

Statement of comprehensive income

Statement of changes in equity

Statement of cash flows

Notes

Presentation of financial statements



Revenue recognition


The types of income that exist and what the applicable standards and

interpretations are (e.g., IAS 18, IAS 11 or other)

When revenue should be recognised

How revenue is measured

The steps that should be followed for revenue recognition

When to separate components of a contract

The presentation and disclosure requirements


IAS 18- Revenue recognition

IAS 11- Construction contracts

IFRIC 13Customer royalty programme



Business Combination


Business combination and identify transactions qualifying as

business combination

How to identify the effective date, transactions that meet the

definition of business and control

How to identify the acquirer in a business combination

How to determine the date of business combination/acquisition

and the date on which the acquirer obtains control of theacquiree

How to recognise all assets acquired, all liabilities, and any

non- controlling interest in the acquiree at their acquisition date

fair values

How to determine the consideration transferred and goodwill or

bargain purchase in a business combination

How to determine the amount of contingent consideration to be

accounted as part of consideration transferred

The presentation and disclosure requirements related to

business combinations and non-controlling interest


IFRS 3

IFRIC 17 Distributions of Non-cash Assets to Owners



Financial instruments


The definition of financial instruments and different categories

of financial instruments

The accounting for each of the categories of financial

instruments

The definition of derivatives and an introduction to plain vanilla

derivative products (options, swaps etc.) and the overall

accounting framework for derivatives

The concept of embedded derivatives (hybrid instruments)

The concept of Hedging by learning the three different

types of hedging relationships and the key accounting

differences in those three different hedging relationships

The classification and disclosure of financial instruments


IAS 39- Financial instruments: recognition and measurement

IAS 32- Financial instruments: disclosure and presentation

IFRS 7- Financial instruments: disclosure


14/32


15/32


The effect of change in foreign exchange rates


How to determine a companys functional currency

How foreign currency transactions and balances are translated into a companys

functional currency

How foreign currency financial statements are translated for consolidation purposes


The indicators of a hyperinflationary economy


IAS 21- The effect of change in foreign exchange rates

IAS 29- Financial reporting in hyperinflationary economies


16/32


Income taxes


The concepts of current and deferred income taxes

How income taxes are accounted for by the asset / liability method

The concept of temporary differences and ascertain how these differences arise and

how they need to be accounted for

How to evaluate the appropriateness of recording valuation allowance against deferred

tax assets

The presentation and disclosure requirements relating to current and deferred income

taxes


IAS 12- Income taxes


17/32


Property plant and equipment, intangible assets and investment property


How to identify and account for intangible assets

How to identify and account for investment properties

The revaluation and cost models of accounting for property, plant and equipment

(PPE), intangible assets and investment property

How to account for changes in depreciation methods / useful l ife / residual value

The differences between repairs and maintenance, replacements and major inspections How to account for changes in existing decommissioning, restoration and similar

liabilities



IAS 16- Property plant and equipment

IAS 38- Intangible assets

IAS 40- Investment property


18/32


Impairment and provisions/contingencies


The procedures that an entity applies to help ensure that its assets are carried at no

more than their recoverable amount

The practical difficulties in applying this standard

The definition of a provision, contingent liability and contingent asset

The recognition and measurement criteria for provisions, contingent liabilities and

contingent assets

The application of IAS 37 to specific circumstances

The presentation disclosure requirements

About the current developments IASB & IFRIC regarding

IAS 37


IAS 36- Impairment of assets

IAS 37- Provision contingent liabilities and contingent assets


19/32


Employee benefits, Share based payment, Non-current assets held for sale and

discontinued operations


The key application issues on employee benefits

The key application issues on share based payments

The key application issues on non current assets held for sale

The key application issues on discontinued operations

The key differences on the above topics with reference to Indian GAAP


IAS 19- Employee benefits

IFRS 2- Share based payments

IFRS 5- Non current assets held for sale and discontinued operations


20/32


Leases, borrowing costs, operating segments, events after the balance sheet date,

change in accounting policies and errors


The key application issues on leasing including right to use

The key application issues on borrowing costs

The key application issues on operating segments

The key application issues on event occurring after the balance sheet date

The key application issues on change in accounting policies and errors

The key differences on the above topics with reference to Indian GAAP


IAS 17 and IFRIC 4- Leases and Determining whether an arrangement contains a

lease

IAS 23- Borrowing costs

IFRS 8- Operating Segments

IAS 8 Accounting policies, change in accounting estimates and errors

IAS 10 Events after the reporting period


21/32


Approach to IFRS Conversion


How and when to start IFRS conversion

The different steps involved in IFRS conversion

The role of different stakeholders in the IFRS conversion

How to assess the impact of IFRS conversion on company existing financial reporting

and practices

IFRS 1 First time adoption of IFRS


IFRS 1 First time adoption of IFRS

KPMG approach to IFRS conversion


22/32


Know your Program

Faculty

22


23/32


Ram Iyer

Name Ram Iyer

Position Director, Accounting Advisory Services, KPMG in India

Education and

Qualifications

Chartered Accountant

Experience Ram is experienced in the fields of audits and accounting including Indian GAAP, US GAAP, IFRS and training.

He has served several prominent Indian corporates, including financial institutions, with US GAAP and IFRS

conversion. Ram also has significant project management and training experience.


24/32


Sandip Khetan

Name Sandip Khetan

Position Director, Accounting Advisory Services

Qualifications Member of the Institute of Chartered Accountants of India (14th Rank Holder all India)

Experience Sandip Khetan is a director in the Accounting Advisory Services of KPMG and is based out of Delhi. He has

more than 10 year of auditing and accounting experience. Sandip is a member of the Institute of Chartered

Accountants of India as well as an alumnus of IIM Ahmedabad

Sandip has extensive audit experience spanning across a sector of industries including IT/ITES, Media, Auto and

Telecom dealing with US GAAP/GAAS and IFRS. He has worked with both large Indian business houses and

multinationals. He is the engagement manager on a largest BPO company in India which is only domestic SEC

registrant from India. Sandip has gained significant experience of US GAAP and US Capital market while

managing the entire US IPO process of Genpact as engagement manager.

Sandip experience includes clients such as Genpact, Global Vantedge, Money control. com, Cadence design

systems, Freescale semiconductor, Hindalco, Apollo Tyres, Ericssion, SRF etc among many more. Sandip is an

active participant in firm training initiatives and have conducted many training session on US GAAP/ IFRS for

clients and for different member firms (Dubai, Moscow, Egypt) in the past.

Sandip has also worked with HCL Technologies for a period of 4 years during which he was leading the

corporate finance MIS team and has worked closely with the top management of HCL corporate team. Sandip

was leading the overall US GAAP reporting of HCL Technologies.


25/32


About KPMG IFRS

practice

25


26/32


KPMG IFRS practice in India

Established IFRS practice in India with more than 100 engagements and more than

200 resources. Integrated teams to address technology and process issues related to

IFRS adoption.

Committed to providing thought leadership in IFRS.

Significant experience of carrying out large IFRS conversion projects.

Professional staff having international experience implementing IFRS (including IAS 39)

and are extremely well networked within core IFRS practices in Europe, Canada and

Australia.

Dedicated centralized IFRS technical group which works closely with KPMG's International

Financial Reporting Group in London.


27/32


Synchronous Learning

NIIT Imperia

27


28/32


NIIT IMPERIA - Technology Edge

18 Classrooms in 17 cities

Direct one-to-one interaction is fostered through individual ICT systems for

each student:

High-performance PCs

Webcam

Audio system and microphone at each workstation, connected directly to

faculty at institutes

Classroom interactions & ambience are facilitated by clusters of student-stations

and camera & projection systems that can span the full classroom.

6 Synchronous Learning Centers created within corporate premises

Learning Management System (LMS):

supplementary e-learning

program-specific notices

online submission of assignments

reminder services

online testing

student records

CLASSROOM VIEW

STUDIO VIEW


29/32


Synchronous Learning

REPLICATION OF LIVE CLASSROOM

Full features of face-to-faceteaching

Raised-hand-seeking-teacher's-attention

Tabulation of responses

Quizzes randomly created bythe teacher


30/32


How to Apply

30


31/32


Application forms

Application forms can be obtained from www.niitimperia.com or at local NIIT IMPERIA

Centres

Documents Required for Application

1 Passport size photo affixed [Latest photo with light backdrop]

Proof of Graduation Completion [Provisional / Degree Certificate]

Proof of Experience [Experience Certificates as supporting documents for all the jobs

mentioned in the form]

How to Apply
http://admissions.niitimperia.com/Imperia/Default.aspxhttp://admissions.niitimperia.com/Imperia/Default.aspx


32/32

Call Us At 18001806060 (MTNL/BSNL) or 011-60006448 (Others)

(Or)

Write to [email protected]

The information contained herein is of a general nature and is not intended to address the circumstances of any particular in dividual or entity. Although we endeavor to provide accurate and timely information, there

can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate i n the future. No one should act on such information without appropriate professional advice

after a thorough examination of the particular situation.

KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.

Contact us

For any Queries Or Doubts,
mailto:[email protected]:[email protected]