CERTIFIED IFRS SPECIALIST

Mike is a UK Chartered Accountant, US Certified Public Accountant and Certified Financial Analyst (CFA) and an expert facilitator specializing in IFRS, US GAAP and IPSAS. He has a long track record of delivering tailor made training solutions around the world with more than 20 years of experience spanning the Big 4 accounting firms as well as private and public entities. Mike is responsible for the design and development of various IFRS, IPSAS and US GAAP training courses around the world from fundamental to advanced stages and has delivered workshops in most continents and across a wide range of cultures.Mike was the co-founder, course designer, examiner and facilitator for the US GAAP Diploma for Chartered Accountants Ireland from 2008 to 2010. He co-authored a complete set of training materials in US GAAP. Delegates on this program were experience qualified accountants that attended 20 days of training to comprehensively cover US GAAP standards and pronouncements. Over the past four years, he has delivered more than 300 training days training for the Institute of Chartered Accountants of England and Wales (ICAEW) in Bangladesh (IFRS), Cambodia (IFRS & IPSAS), Ghana (IFRS), Korea (IFRS) Nigeria (IFRS), Myanmar (IFRS & IPSAS), Philippines

(US GAAP, IFRS and COSO control framework), Sri Lanka (IFRS), and Tanzania (IFRS & IPSAS). During a three year period, he personally provided 200 training days to the majority of NATO finance staff, developed key sections of the IPSAS (IFRS equivalent for the public sector) NATO specific accounting manual, and served as a technical advisor on NATO implementation issues.He has developed a 6 week IFRS training program in IFRS under a World Bank funded project for ICAEW for the Nigerian SEC in 2013. Each delegate received 30 days training over a 12 month period, and Mike personally developed the materials and questions for his training experience. He will provide a blend of technical knowledge and practical experience as he himself offers such a skill set combination that will be invaluable to the overall success of the program. He brings not only unparalleled technical expertise but also a unique ability to integrate technical financial accounting and management issues into the training environment through tailored, real-life exercises that underscore the practicalities of achieving agreed-upon learning objectives.

Mike Turner

Expert Trainer

2www.leoron.com

LEORON Professional Develop-ment Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing pro-fessional education on the Na-tional Registry of CPE Sponsors.

State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Com-plaints regarding registered sponsors may be submit-ted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

5 KEY TAKE AWAYS

1Improved knowledge and understanding of the global trends for International Financial Reporting Standards

2 Practical application of IFRS standards

3 Understanding of recent changes in IFRS and practicalities of their application

4Practical understanding the transition chal-lenges and approaches in moving to Inter-nationally accepted reporting norms of IFRS

5 IFRS changes on the horizon and their impact in Financial Reporting

This course has been specifically designed for the benefit of:

» Heads of Finance

» Chief Accountants

» Financial Controllers

» Prepares of IFRS financial statements

» Analysts requiring knowledge of IFRS compliant statements

» External and Internal Auditors

WHO SHOULDATTEND?

BENEFITS OF ATTENDING

» Successful completion of this course makes you a CIFRSS™ Certified IFRS Specialist.

» You can use the designation CIFRSS™ on your business card and resume.

» Up to 18 months membership to the IABFM professional body

» Access to the IABFM network and body of information online

» Preferred access to education centres in USA, UK, Europe, Asia, Middle East and Latin America

» Access to the IABFM journal published online. Gold Embossed Certifcate with your name and designation as MIABFM (Member of the International Academy of Business and Financial Management

The International Academy of Busi-ness and Financial Management™ is one of the world’s

fastest growing professional associations with more than 200,000 members, associates and affiliates in 145 countries. IABFM™ hosts and organizes certifica-tion training worldwide and offers exclusive board des-ignations to candidates who meet the highest profes-sional standards and assessment criteria.

The IABFM is credited by the American National Stan-dards Institute (ANSI) the International Standards set-ting authority.

IN-HOUSE If interested to run this course in-house please contact Goran Gakidev at +971 4 447 5711 or e-mail: goran.gakidev@leoron.com

DISTANCE LEARNING PROG. If interested to run this course with our distance learning program please contact Agron Kurtishi at +971 4 447 5711 or e-mail: agron.kurtishi@leoron.com

September 16-20, 2018 | Riyadh, KSA

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COURSE OVERVIEWInternational Financial Reporting (IFRS) is the indisputably global solution for any country in the world to integrate into the international capital markets. There is virtually no room for a local solution since this category, and an in-creasing number of entities are moving to IFRS. Access to capital from both the domestic and international arena is inextricably linked to the integrity and international credibility of financial reporting.

The IFRS standard setters have been in a process of revamping standards to improve global financial reporting and this course is a necessity of IFRS preparers and users to be update with current standards and trends.

This course offers the learner a comprehensive understanding of the essential elements of IFRS; beginning by building on the foundations laid by the IASB’s mainstream IFRS standards.

The course develops key skill competencies through the application of sound theoretical content within a practi-cal, real-life inspired case-study based environment.

DAY 1 IASB Structure and Operations

» The Global movement to IFRS » The structure of the IASB and how it works » US GAAP Convergence

IFRS Core Concepts » Conceptual Framework

- Criteria for assets and liabilities - Recognition criteria

Group Activity: Illustrations how the conceptual frame-work principles are applied in practice.

» IAS 1: Presentation on Financial Statements - Core concepts and requirements

» IAS 7: Statement of Cash Flows - Classification of operating, investing and financing - Non-cash transactions

Assets under IFRS » IAS 16: Property, Plant and Equipment

- Cost capitalisation criteria - Component accounting - Revaluation methodology - Depreciation

Case Study: Exercises and group discussion of differ-ent scenarios to determine if costs can be capitalised; exercise on component accounting; exercise on appli-cation of revaluation method.

» IAS 2: Inventories - Cost components and valuation issues - Identifying and accounting for inventory impairment

» IAS 23: Borrowing Costs - Qualifying assets - Commencement and suspension of capitalisation

Case Study: Determination and calculation of interest cost that is capitalised.

» IAS 38: Intangibles - Criteria for recognition - Purchase price allocation considerations - Definite and indefinite useful life - Measurement requirements and alternatives

Case Study: Exercise on determining useful life; exer-cise on intangible cost capitalisation.

DAY 2 Assets under IFRS (continued)

» IAS 40: Investment Property - Fair value model - Cost model

Case Study: Determining the classification of real es-tate property.

» IAS 36: Impairment of Non-Current Assets - Impairment indicators - Cash generating units and impairment of goodwill - Recoverable amount and practicalities in its

determination - Application of impairment adjustments

Case Study: Identification of cash generating units; ap-plication of impairment testing with goodwill.

Accounting for Liabilities » IAS 37: Provisions, Contingent Liabilities and Contin-

gent Assets - Identifying the obligating event - Estimating provisions - Restructuring and onerous contracts

Case Study: Different scenarios to determine account-ing treatment under IAS 37.

» IAS 12: Income Taxes - Permanent and temporary differences - Treatment of tax loss carry-forward and tax credits - Impairment of deferred tax assets

Case Study: Comprehensive example on treatment of deferred tax.

Financial Statement Presentation » IFRS 5: Non-Current Assets Held for Sale and Discon-

tinued Operations - Held for sale criteria - Discontinued operations requirements

Case Study: Determining if IFRS 5 criteria are satisfied. » IFRS 8: Operating Segments

- Identification of reportable segments - Role of CODM

Case Study: Determining reportable segments.

September 16-20, 2018 | Riyadh, KSA

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DAY 3 Fair Value and Financial Instruments

» IFRS 13: Fair Value Measurement - Fair value hierarchy - Steps to determine fair value - Fair value in illiquid markets - The grey areas and challenges of application for

financial instruments that are thinly tradedCase Study: Determination of hierarchy rating; deter-mination of highest and best use.

» IAS 32: Financial Instruments – Presentation - Distinction between debt and equity

Case Study: Distinguishing if a financial instrument is debt or equity.

» IAS 39 & IFRS 9: Financial Instruments - Classification and Measurement of Financial Assets and Liabilities

- Four categories of assets (now thee under IFRS 9) - Business model test - Cash flow characteristics - IFRS 9 “own credit” controversy

Case Study: Classifying financial instruments. » IAS 39 & IFRS 9: Financial Instruments - Impairment

of Financial Assets - Incurred loss model - Expected loss model and core differences to US GAAP - Development of key assumptions in loss model - Practical implementation challenges

» IFRS 7: Financial Instruments – Disclosures - o Requirements of standard - o Risk disclosures

Accounting for Pensions » IAS 19: Employee Benefits

- Defined benefit and defined contribution plans - Current and past service costs - Actuarial assumptions and treatment of actuarial

gains and lossesCase Study: Comprehensive example on defined bene-fit scheme with actuarial gains and losses.

DAY 5 Other Financial Reporting Matters

» IAS 24: Related Party Disclosure - Identification of related parties - Disclosure requirements

Case Study: Scenario to determine if there is a related party under IAS 24.

» IAS 34: Interim Financial Reporting - Minimum components of an interim financial

statements - Revenues received seasonally, cyclically or

occasionally » IAS 10: Events after the Reporting Date

- Classification and treatment of events as adjusting and non-adjusting

Case Study: Scenario to determine if treatment of post balance sheet event.

» IAS 33: Earning per Share - Basic earnings - Diluted earnings

Case Study: Calculation of basic and diluted earnings per share.

First Time Adoption » IFRS 1: First Time Adoption of IFRS

- Mandatory exceptions from other IFRS - Optional exemptions - Presentation and disclosure requirements

Accounting for Leases » IAS 17: Leases

- Indicators of financial leasesCase Study: Preparing an extract of financial statements for a finance lease.

» IFRS 16: Leases - Challenges with the current standard

DAY 4 Group Accounting Matters

» IFRS 10: Consolidated Financial Statements - Assessing control - Principle and agent considerations

Case Study: Scenarios to assess control in a number of different scenarios where voting rights are less than 50%.

» IFRS 3: Business Combinations - Purchase price allocation - Recognizing and measuring goodwill

Case Study: Scenarios to determine goodwill and pur-chase price allocation and their future impact on con-solidated financial statements.

» IAS 27: Separate Financial Statements - Approach and differences to consolidated finan-

cial statements

» IAS 28: Investments in Associates - Determining significant influence - Application of the equity method - Adjustments required for consolidated financial

statements including fair value differencesCase Study: Application of the equity method with a purchase price allocation.

» IAS 21: Effects of Changes in Foreign Exchange Rates - Determination of functional currency - Foreign currency transaction and translation ac-

counting treatmentCase Study: Determining the functional currency.

» IFRS 11: Joint Arrangements - Types of joint venture arrangements - Accounting treatment and adjustments required

Case Study: Scenario to determine if a structure is ac-counted for as a joint arrangement.

» IFRS 12: Disclosure of Interests in Other Entities - Core disclosure areas - Interests in unconsolidated entities

September 16-20, 2018 | Riyadh, KSA

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PROGRAMTIMINGS

Registration will begin at 08.00 on Day One. The program will commence at 08.30 each day and continue until 16.30. There will be two refreshment breaks and lunch at ap-propriate intervals.

Delivery Type Group Live

Pre-requisites None

Level Advanced Training

This Program is worth 35 NASBA CPE credits

- Revised single model - US GAAP dual model approach and key differences - Impact on financial statements and debt covenants

Case Study: Numerical application and disclosure of the new leasing standard.

Accounting for Revenue » IAS 18: Revenue

- Sale of goods and servicesCase Study: Group discussion and analysis of revenue determination under IAS 18.

» IAS 11: Construction Contracts - Determining stage of completion

» IFRS 15: Revenue from Contracts with Customers - Detailed review of the five step model - Identification of the performance obligation - Determining and allocating the transaction price

Case Study: Scenarios on applying the new five step model.

September 16-20, 2018 | Riyadh, KSA

6www.leoron.com

KAMILLA JABIYEVA Financial Reporting and Budget Analyst at NORM, Azerbaijan

I have attended Certified IFRS Specialist course delivered by Mike. I really enjoyed the course, it is worth the time and money spent on it. Mike is a true professional of his craft and as an effective trainer he possesses excellent technical as well as soft skills. But what I loved most about the course he delivered, that besides the technical

knowledge I received during the training I learned how this knowledge was applied in different industries and countries. Mike has rich experience of working (living/visiting) in different countries. The examples he provides contribute to a better understanding of the theory and help you to memorize it better as well as they extend your knowledge about business environment as a whole. And even if the hands-on information provided during the course is not specific to your business it can help you uncover new ideas and approaches that will grow your business.

NAFRRE MUCKARAM Senior Audit Professional at Abu Dhabi Islamic Bank, UAE

“Experienced IFRS trainer”, I have attended Mike’s IFRS training it was amazing as he is not only IFRS experts he is good in providing practical example how to handle IFRS requirements. I was impressed with his practical solution inline to compliance with IFRS along with the vast amount of experience in

multiple industry help me to understand more.

MOHAMMED SUBA’A Head of Finance at Arab Petroleum Investments Corporation, KSA

Mr. Mike is very skilled. He has a great knowledge in the field of Finance and Accounting in particular in the IFRS and GAAP updates. He also is very familiar with the changes in the world markets and businesses . I recommend those who are interested to gain more knowledge in the accounting

standards and finance to attend his course.

TESTIMONIALS

TERMS & CONDITIONS

1. Payment Terms for LEORON Professional Development Institute (hereafter LEORON PDI)a. 100% payment of the amount in maximum 15 days upon the receipt of the invoice. b. The payment shall be conducted either in cash, credit/debit card, cheque or bank transfer. c. The stated amount is exclusive of Withholding Tax and other duties, taxes and transfer related charges which if

applicable are payable by the client in addition to the stated amount.2. Cancelation and Postponement Policy

a. All cancelations and postponements shall be done in written form.b. In case of client cancelation:

i. No cancelation fee if the cancelation takes place not less than 14 days prior to the beginning of the course,ii. 50% cancelation fee if the cancelation takes place between 7 days and 14 days prior to the beginning of the course,iii. 100% cancelation fee if the cancelation takes place less than 7 days prior to the beginning of the course,

c. In case of client postponement, i. LEORON PDI issues a credit note which states that the paid amount can be used for participation in any of the

company’s courses which are scheduled in a period of 12 months from the date of the credit note.ii. A 25% postponement fee if the postponement takes place less than 10 days prior to the beginning of the course

d. In case of LEORON PDI cancelation:i. A 100% refund shall be applicable if LEORON PDI decides to cancel the event - the client has an option to receive

a credit note which can be used for any course for a period of 12 months.ii. In case of LEORON PDI postponement - the client may choose to participate on the same course at the later date or

to be issued a credit note which states that the paid amount can be used for participation of any of the company’s courses which are scheduled in a period of 12 months from the date of the credit note.

3. Selection of Trainer and LocationSelection of the trainer and training location shall be at the discretion of LEORON PDI. Every effort shall be made to maintain continuity, but, if necessary, LEORON PDI can change the trainer and training location any time prior to commencement of the course.

4. Intellectual PropertyThe copyright, intellectual property and design rights of the learning materials are property of LEORON PDI and its expert trainers. It cannot be copied, shared or reproduced without prior written consent of LEORON PDI.

5. Health and SafetyThe clients must conform to and comply with the Health and Safety Policy and Procedures as laid down by LEORON PDI or its partner organizations when the course is delivered in leased premises. Breaches of these policies and procedures may result with the client being suspended or excluded from the course and premises.

6. Complaints and Refunds Procedurea. LEORON PDI shall deem relevant the following types of complaints:

i. If the contents of a course or the training materials are incorrect or inappropriate.ii. If the duration of the course is significantly different to that invoiced.iii. If the conduct or actions by the LEORON PDI trainer are inappropriate or offensive.iv. If the training delivery is not on a satisfactory level

b. Enquiries and complaints shall be made in written form and have to contain sufficient detail to allow LEORON PDI to compile an official written response.

c. All official enquiries and complaints shall be submitted electronically to Val Jusufi, Managing Director of LEORON PDI, at val@leoron.com

d. LEORON PDI shall officially respond to the complaint no later than 7 days from the date of its reception.7. Force Majeure

LEORON PDI shall not be liable to the clients or be deemed to be in breach of any agreement it has concluded with them for any delay in performing or failure to perform any of the LEORON PDI’s obligations in respect of the services if the delay or failure was due to any cause such as war, warlike activities, fire, storm, explosion, national emergency, labor dispute, strike, lock-out, civil disturbance, actual or threatened violence by any terrorist group, newly enacted law or regulation or any other cause not within the control of LEORON PDI.

8. Governing LawThis contract shall be governed by and construed in accordance with the Laws and Regulations of the Au-thority in the Kingdom of Saudi Arabia.

I have read and agreed to the following terms and conditions!

COURSE DETAILSCERTIFIED IFRS SPECIALIST

Date: September 16-20, 2018 Location: Riyadh, KSA

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COURSE FEE: US$ 4390SAVINGS & DISCOUNTS

GET US$ 400 DISCOUNT if you register 2 months before the course

GET US$ 200 DISCOUNTif you register 1 months before the course

GROUP DISCOUNTS*

3-4 Delegates 20%

5 Delegates 25%

*please note that all group discounts are given on the original course fee** all prices are VAT-exclusive.

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