IFRS THE PRACTITIONER SERIES

3-Day IFRS Masterclass

EFFECTIVE APPLICATIONS AND ESSENTIAL UPDATES OF IFRS
Practical Examples and Cases to Illustrate IFRS Applications Essential Updates including Outstanding Exposure Drafts

3-DAY IFRS MASTERCLASS

OCT 15 17 NOV 25 - 27

GRAND MILLENIUM KUALA LUMPUR, MALAYSIA JUMEIRAH EMIRATES TOWER, DUBAI

Bring your This course is intended for those with a basic or intermediate laptop knowledge of IFRS that are currently going through or have recently been through the process of adoption of IFRS. The course covers the key areas that impact most IFRS financial statements and clarifies issues through extensive use of participant examples. For those with an intermediate knowledge seeking an update in respect of recent IASB revisions, the course covers all IASB amendments to date.

L EARNING O BJECTIVES

Your Expert Trainer:

S HAN K ENNEDY
Shn Kennedy is a chartered accountant and acknowledged expert providing independent advice on International Financial Reporting Standards (IFRS) and valuation matters. Shan's experience includes more than twenty years in the Big 4 accounting practices. She has spent four years working at the UK Accounting Standards Board, at the time when Sir David Tweedie was chairman. There, she researched and developed accounting requirements for goodwill and intangible assets and put together the impairment review approach that has now been adopted for IFRS in IAS 36, Impairment of Assets. Her valuation experience stems from more 7 years working as a valuation specialist within the Big 4, including holding the position of director responsible for the valuation specialism.

Who Should Attend: Chief financial officers Financial controllers Finance directors Finance managers Members of finance team Accountants Accounting policy staff Audit partners Audit managers Internal auditors Financial analysts Portfolio managers Securities analysts Credit analysts Pension fund managers Investment analysts

Shan has worked on the IFRS transition teams of ABN Amro and Lloyds TSB. She has also presented at over 100 IFRS training courses across the globe - London, Europe, the Middle and Far East, India and Africa. She has extensive knowledge of the issues facing emerging markets countries as they adopt IFRS. She has undertaken two recent exercises for the UK regulator, the Financial Reporting Council, to perform surveys of compliance with IFRS 2, Share-based Payment, and IFRS 3, Business Combinations. The report on IFRS 3 compliance is available from the FRC website. Shan is currently engaged by the FRC to provide IFRS valuation training to their audit inspection and review panel teams. In 2011, Shan was engaged by the Turkish government to provide a bespoke one-week training course to their team responsible for the review of all listed company accounts. Shan was engaged by the Institute of Chartered Accountants in England & Wales (ICAEW) to write guidance on the application of IFRS 3 and to prepare responses to Exposure Drafts issued by the IASB. She is currently engaged by the ICAEW to develop a valuation training programme in the UK. Shn acted as a technical consultant to the International Valuation Standards Council (IVSC) and drafted their initial guidance on the valuation of intangible assets, which is available from their website. Shan is a contributing author to Practical Share Valuation, 5th Edition, published by Tottel, for which she wrote the sections addressing valuations for IFRS purposes. Shan has written articles on IFRS 2 and IFRS 3 that are included in Q Finance, The Ultimate Resource, published by Bloomsbury in 2009, and available from their website at www.qfinance.com Shan has performed numerous valuation exercises in accordance with the requirements of IFRS for corporate clients. Shan holds a degree in mathematics from Cambridge University.
"The Monetary Authority of Singapore (MAS) administers Financial Training Scheme (FTS) grants to financial sector organisations that sponsor eligible Singapore based participants to training programmes that meet qualifying criteria. For more details, please visit www.mas.gov.sg, or contact the MAS via fsdf@mas.gov.sg."

O L Y G E N P T E L T D | www.olygen.com | muhammadazza@ae.olygen.com | Tel: +603 2282 0369 | Fax: +603 2282 0379

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| www.olygen.com | muhammadazza@ae.olygen.com | | Tel: +603 2282 0369 | Fax: +603 2282 0379 |

AGENDA - DAY 1
1. Introduction
Course objectives Background of participants Shn Kennedy introduction

Examples to illustrate each of these terms 4B. IFRS 13, Fair Value Measurement - different valuation approaches
Cost, market and income approaches to valuation Valuation methods within each of these approaches Examples to illustrate

2. IASB current work programme

G20 involvement Response to financial crisis IASB program of changes to IFRS The International Valuation Standards Board

4C. IFRS 13: Fair Value Measurement, issued May 2011: Disclosure requirements
Disclosure requirements Levels 1, 2 and 3 inputs examples of each Hierarchy level in its entirety Recurring and non-recurring fair value measurements When are quantitative disclosures required? When is sensitivity analysis required? What will change following introduction of IFRS 13? IFRS 13 impact on other standards Worked examples Participant examples Cost model and component approach, IAS 16 Depreciation policies Examples from published accounts Government grants, IAS 20

3. IAS 1 presentation of financial statements

Full set of statements What goes into P/L and what goes into Other Comprehensive Income? Statement of changes in equity Cash flow statement IAS 1 amendments: Presentation of Other Comprehensive Income Which items are recycled to P/L Participant questions and examples

4A. IFRS 13: Fair Value Measurement, issued May 2011

When to use fair value measurement Scope of IFRS 13 Valuation Standards: International Valuation Standards Council, IVSC IFRS 13 terminology and definitions Fair value, market participants, orderly transaction Principal market and most advantageous market which should be used? Highest and best use Transaction costs and transport costs which impact fair value measurement? Active market

5A. Property, plant & equipment, IAS 16

5B. Capitalisation of borrowing costs, IAS 23

Borrowing costs, IAS 23 Examples of calculation of capitalisation rate Participant examples

5C. Investment Properties, IAS 40

Investment properties cost or revaluation model, IAS 40 Implications of IFRS 13 for fair value measurement

AGENDA - DAY 2
6A. Debt and equity, IAS 32
Definitions of financial asset, financial liability and equity Treatment of preference shares Participant example

6D. Impairment, IAS 39

Amortised cost accounting impairment Incurred loss approach Loss events Worked example and participant example Available for sale financial assets Unquoted equity instruments held at cost Proposals under discussion by IASB Expected loss approach - 3 buckets Impairment in trade receivables

6B. Classification of financial assets, IAS 39

4 different asset categories Investments in debt and equity instruments Amortised cost accounting and effective interest rate Participant examples IFRS 9 - business model approach Changes on adoption of IFRS 9

7. Provisions, IAS 37 and proposed new standard

Project status Interpretation of present obligation Changes proposed from IAS 37 Onerous contracts Restructuring costs

6C. Classification of financial liabilities, IAS 39

Amortised cost accounting Fair value option Changes on adoption of IFRS 9

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Measurement of liabilities Examples

8. Leasing
Operating and finance lease distinction under IAS 17

Board's proposals in recent Exposure Draft Right of use asset Expected changes to balance sheets and P/L accounts under new approach

AGENDA - DAY 3
9. Revenue recognition
Existing requirements: IAS 11 & 18, IFRIC 13 & 15 Problems with existing requirements Stage of completion or sale of goods approach ED issued Nov 2011 5-step approach proposed Distinct vs. bundled goods and services Performance obligations Variable consideration Treatment of credit risk Time value of money and practical expedient Revenue recognition at a point in time or over time Contract costs Extensive new disclosures Specific examples - warranties, principal vs. agent, repurchase agreements Questions for participants Impairment testing for tangible fixed assets Special considerations for exploration assets Impairment testing for goodwill Identifying cash generating units Complications with foreign currencies Sensitivity analysis required Difference between fair value less disposal costs and value in use Consequences of introduction of IFRS 13 Participant examples

10B. Impairment case study

Cost of debt Cost of equity Weighted average cost of capital Sensitivity analysis Disclosures

11. Group accounting issues - IFRS 10, Consolidation

Consolidation under IAS 27 and changes on adoption of IFRS 10 Variable returns Power over investee Substantive rights and protective rights De facto control Principal and agent

10A. Impairment testing, IAS 36

12. Final questions and discussions

Queries from participants Course feedback

What finance practitioners say about Shan Kennedy after attending her Masterclass:
Shan had some real exhaustive material on IFRS and I really appreciate the efforts she had put in. It was truly a masterclass. Shans training for our team on IFRS 3 valuations has helped us enormously, as has her experience and expert opinion, particularly on appropriate assumptions to use in calculations for testing the impairment of goodwill. Shans regular IFRS updates for us have been very helpful and I look forward to the next one soon. She is always right up to date and absolutely on the nail. She is knowledgeable and is in touch with the relevant accounting bodies to be updated and impart that latest information to the participants. She has in-depth knowledge and teaching capacity for any level of audience.
Small Class-Size: Due to the interactive format of the programme, the class size will be kept small to ensure facilitators attention and effective class discussion. Customisation: The programme will be further customised to fit your priorities through the pre-course questionnaire (PCQ). Internal Training: This programme is available as an internal training. Email us to find out more at: inhouse@olygen.com Timetable for both days 0830 0900 Registration 0900 1030 First Morning Half 1030 1045 Morning Break 1045 1230 Second Morning Half 1230 1330 Lunch 1330 1500 First Afternoon Half 1500 1515 Afternoon Break 1515 1700 Second Afternoon Half

REGISTRATION
OLYGEN PTE LTD | TEL: +603 2282 0369
IFRS PRACTITIONER S ERIES 3-Day IFRS MasterClass IFRS for Financial Instruments
Organisation : Invoice Attention To : Job Title Email Address Telephone : : : : Fax

Contact: Muhammad Azza FAX: +603 2282 0379

Kuala Lumpur
15-17 Oct (SGD4,950) 18-19 Oct (SGD3,950)

Dubai
25-27 Nov (USD4,295) 28-29 Nov (USD3,295)

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PAYMENT METHODS CHECK/CHEQUE Make payable to Olygen Pte. Ltd. BANK TRANSFER Olygen Pte. Ltd. United Overseas Bank Limited Singapore Bank Address: 80 Raffles Place UOB Plaza Singapore 048624 SGD Account No: 374-304-795-6 Swift Code: UOVBSGSG

TERMS & CONDITIONS Payment Terms: Payment is required within 7 days of invoice date. Olygen reserves the right to refuse admission IF payment is not received before the event date. Transfer: Transfer is allowed upon written notification. Cancellation: Registration carries a 50% cancellation liability, notwithstanding, full fee is payable when cancellation is less than two (2) weeks before the event. Cancellation has to be done in writing. If Olygen decides to cancel or postpone this event, it is not responsible for covering airfare, hotel, or other travel costs incurred by clients. The fee will not be refunded, but credited to a future event. No Show: No show does not constitute transfer or cancellation and the full fee is payable. Changes: Olygen reserves the right to change event dates, venue, speakers, or omit event features, or merge the event with another event, as it deems necessary without penalty, refunds or alternative offers. Tax: Registration fees exclude tax. For clients outside Singapore, the sum payable is as the listed fees, exclusive of tax. To this sum shall be added any other local tax or withholding tax from client's country of origin, if any. Marketing: Olygen may use your companys logo or business name or otherwise refer to your company in our website, any marketing, promotional or advertising material as a client of our services. Governing law: This Agreement shall be governed and construed in accordance with the law of Singapore and the parties submit to the exclusive jurisdiction of the Singaporean Courts in Singapore. Indemnity: Should for any reason outside the control of Olygen, the event be cancelled due to an act of terrorism, extreme weather conditions or industrial action, Olygen shall endeavour to reschedule but the client hereby indemnifies and holds Olygen harmless from and against any and all costs, damages and expenses, including attorneys fees, which are incurred by the client.
Internal reference: O1139/O1140/O1141/O1142/O1143/O1144