IFRS 13 introduces a new definition of fair value. This has an impact on the fair value measurement of financial instruments in the balance sheet. Not only the counterparty’s credit risk has to be taken into account when valuing derivatives (‘CVA’), but also the entity’s own credit risk (‘DVA’). This can cause several practical implications and may also lead to hedge ineffectiveness. In this training the concept of CVA/DVA is explained in an intuitive way and practical guidance on valuation issues arising around this is given. In the second half of the training, the impact of CVA/DVA on hedge accounting and accounting for financial instruments in general is explained to highlight the risks of hedge ineffectiveness due to IFRS 13.
This training will provide you with a solid basis to understand and apply IFRS 13 new requirements in your organisation.
IFRS 13 is mandatory for financial years commencing on or after 1 January 2013. Included in IFRS 13 are the following key considerations:
The training is of interest to professionals with a background in finance or treasury responsible for accounting, treasury, reporting and/or controlling. Other interested parties are also welcome to attend.
The trainers are professionals and members of the PwC Capital Markets and Accounting Advisory Services (CMAAS) group. CMAAS specialises in applying IFRS standards and assists clients with IFRS transitions and/or complex IFRS accounting topics on a daily basis.
|13:15||Introduction to IFRS 13 (objectives, scope, timing)|
|15:45||Practical implications for derivatives (CVA/DVA)|
|16:45||Questions & Answers|
You are welcome at our offices as of 12.30 pm. The training starts at 1 pm and ends at 5.00 pm with a drinks reception.
The training courses of the Academy meet the requirements for Permanent Education of the NBA. By completing this training, accountants receive 4 PE-hours. The certificate of attendance will be provided 4 weeks after the training.
By completing this training, registered controllers receive 4 PE-points. The certificate of attendance will be provided 4 weeks after the training.
EUR 450 (excluding VAT). This includes training material and a drinks reception.