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Accounting for Financial Instruments in Accordance with MPERS - Understanding Financial Instruments for MPERS and Applying Them in Practice

Expert Speaker Danny Tan Boon Wooi

MYR901.00 (including GST)

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Overview

This one-day workshop is designed specifically for preparers and auditors of MPERS financial statements for private entities (Sdn. Bhd.). This workshop will simplify complex principles related to the interpretation and understanding of Section 11, 12 and 22 in MPERS. This will enable you to have a good understanding of these principles and help you apply them in practice straight away.

The workshop provides easy to understand examples to enhance the comprehension of complex principles of these three sections in MPERS dealing with financial instruments. All examples are kept short, direct to the point and are based on practical business environment.

What You Will Learn

At the end of the workshop, you will:

  • Be able to interpret and understand the requirements of Sections 11, 12 and 22 in MPERS
  • Be able to apply Section 11, 12 and 22 in MPERS effectively in practice
  • Be able to prepare fairly presented and MPERS-compliant financial statements

Who Should Attend

This workshop is suitable for:

• Directors
• Partners
• Senior Accountants and Auditors
• Financial Controllers
• Finance Managers
• Accounts Executives

Programme Outline

Identifying financial instruments in practice

  • Definition of financial instrument, financial assets, financial liabilities and equity Instruments
  • Understanding the natures of contracts that create financial instruments
  • Critically analyses the characteristics of basic financial Instruments

Scope and Accounting Policy Choice

  • Scope of Section 11 and Section 12
  • Accounting policy choice and interrelation between Section

Presentation of financial instruments

  • Identifying equity and Liability in according to Section 22
  • Special principles for transactions settled in own equity instruments
  • Accounting for compound instruments
  • Offsetting of financial assets and financial liabilities

Recognition and Derecognition

  • Understanding the principle of Initial recognition and subsequent derecognition
  • Understanding the difference between derecognition and impairment of financial assets

Measurement

  • The principles of initial and subsequent measurement
  • Fair value measurement considerations and the use of valuation models
  • Accounting and mathematics for amortised costs using effective interest rate method
  • Impairment of financial assets

Understanding Derivative Accounting and Hedge Accounting (Section 12)

  • Set up derivative accounting procedures
  • Understanding the rules of hedge accounting
  • Identifying the types of risks that qualify for hedge accounting

Disclosure

  • How to disclose financial instruments affecting financial position and performance
  • Other disclosure issues

Expert Speaker

Danny Tan Boon Wooi has over 30 years of working experience in public practice, commerce and industry as a professional accountant and auditor. In the last 18 years, he is a partner of a consulting firm providing technical training and consultancy in IFRS and IPSAS (Accrual Accounting). He is currently a project manager with the Malaysian Accounting Standards Board in several projects. He is a member of Government Accounting Standards Advisory Committee working on the implementation of Malaysia Public Sector Accounting Standards. 

Danny holds an Honours Degree in Economics from England, an MBA in Finance from Scotland and a Master in Advanced Business Practice from Australia. He is a member of CIMA (UK), ACCA (UK), ISCA, MIA and CTIM.

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