Agenda

1. European Sustainability Reporting Standards (ESRS) (1 hr & 30 min)

• Introduction to ESRS which will have a significant impact on the scope, volume and granularity of sustainability-related information to be collected and disclosed by companies.

IFRS S1: General Requirements for Disclosure of Sustainability-related financial information & IFRS S2: Climate-related Disclosures

• Introduction to IFRS S1 and S2. The aim is to mandate entities to provide relevant information concerning their sustainability-related risks and opportunities that is useful to the users of the financial statements.
• Identifying sustainability and climate related risks and opportunities.
• Identifying applicable disclosure requirements (quantitative and qualitative information).
• Strategy and decision-making.
• Timing of reporting.

2. Amendments in IFRS effective from 1 January 2023 (55 min)

• IAS 1 Presentation of Financial Statements
  Disclosures of Accounting Policies
  These amendments help entities provide useful accounting policy disclosures by requiring entities to disclose their material accounting policies instead of their significant accounting policies, clarifying that accounting policies related to immaterial transactions, other events or conditions, are themselves immaterial and do not need to be disclosed. They also clarify that not all accounting policies relating to material transactions other events or conditions are themselves material.
  
  
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
  Definition of Accounting Estimates
  The trainers will present the changes in this standard, which explains how entities distinguish between changes in accounting policies and changes in accounting estimates, with a primary focus on the definition and guidance related to accounting estimates.
  
  
• IAS 12 Income Taxes
  Deferred Tax related to Assets and Liabilities arising from a Single Transaction
  The trainers will cover the amendments of this standard which describes how entities account for deferred taxes on certain transactions, such as leases and decommissioning obligations, with a focus on reducing diversity in practice. 

3. Amendments in IFRS effective from 1 January 2024 (45 min)

• IFRS 16 Leases
  Lease Liability in a Sale-and-Leaseback
  The trainers will outline the changes in this standard which clarifies how a seller-lessee will account for variable lease payments that arise in a sale-and-leaseback transaction.
  
  
• IAS 1 Presentation of Financial Statements
  Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants
  The trainers will cover the relevant amendments of this standard which clarifies that the classification of liabilities as current or non-current is based solely on an entity’s right to defer settlement for at least 12 months at the reporting date.
  
  
• IAS 7 Statements of Cash Flows and IFRS 7 Financial Instruments Disclosures
  Supplier Finance Arrangements
  The trainers will explain the changes in this standard which requires an entity to disclose qualitative and quantitative information about its supplier finance arrangements.

4. Amendments in IFRS effective from 1 January 2025 (20 min)

• IAS 21 The effects of Changes in Foreign Exchange Rates
  Lack of exchangeability
  The trainers will refer to changes that will soon be effective. More specifically, they will cover the amendments relevant to this standard, which applies when one currency cannot be exchanged for another. The amendments introduce new disclosures to help financial statement users assess the impact of using an estimated exchange rate.

5. IFRS 17 Insurance contracts for non-insurers (1 hr)

• Identifying a contract.
• Compensating for a specified uncertain future event.
• Assessment whether the event adversely affects the counterparty.
• Transfer of significant insurance risk.
• Case Study: Applying the four-step process.

6. Future Updates and Amendments(1 hr)

• This section is dedicated for any future developments or amendments may arise until the delivery date of the seminar (i.e., IFRS 18).

7. Q&A session (30 min)

Training services include:

• Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes, if applicable.
• Stationery, such as pads, pens, and files.
• Drinks (coffee, tea, etc.) and a buffet lunch.
• A fully equipped training room.
• Certificate of completion.