Upcoming Webinars with Mike Morley
To register for a Webinar call Mike Morley at 416-275-1278 or email mike@mikemorley.com
I am very pleased to announce that these Webinars have been approved by CMA, CGA, CA and the The Canadian Institute of Credit as eligible for continuing education recertification points.
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| IFRS Revenue Recognition Feb 7 |
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International Financial Reporting Standards have changed how companies recognize revenue on their financial statements.
Accountants are expected to decide how to choose the appropriate recognition strategy for each type of transaction and event.
IFRS asks the accountant to measure the fair value of revenue using specific guidance for the various categories of revenues, but just exactly how do you do it?
This Webinar will provide you with easy-to-follow guidelines that will ensure that you can comply with these new standards.
Topics covered:
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Concepts and rules for revenue recognition
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Revenue recognition criteria (including sale of goods and rendering of services)
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Nonmonetary (exchange) transactions
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Service contract accounting under IFRS
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Construction contract accounting under IFRS
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Joint ventures and shared contracts
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Accounting for change orders, contract options, and claims
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Revaluation methods under IFRS
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Disclosure requirements
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Financial statement presentation
Date: February 7, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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IFRS UPDATE
The International Accounting Standards Board (IASB) has made some significant changes to IFRS. These changes come into effect Jan. 1, 2013. This sounds far off in the future, but you need to understand the implications of these changes now because their expected impact must be disclosed in the current financial statements.
Not only will you have to make significant changes, you will also have to disclose how you arrived at your decisions.
Topics covered:
IFRS 12 Disclosures of Interests in Other Entities -- From now on there has to be more transparency. Who really controls what?
IFRS 13 Fair Value Measurement -- These new criteria for assigning asset values will mean significant changes in the balance sheet.
IFRS 11 Joint Ventures -- More big changes to the balance sheet, if you were using proportionate consolidation you will have to use the equity method now.
IAS 27 Separate Financial Statements -- New rules change how investments in subsidiaries and joint entities are accounted for. They might need to have their own financial statements.
IAS 28 Investments in Associates and Joint Ventures -- New definitions of “significant influence” could mean that these investments have to be consolidated.
Date: February 10, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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| ASPE Intensive webinar Feb 14 |
Accounting Standards for Private Enterprise (ASPE)
The Canadian Accounting Standards Board has stated that Private Canadian companies may choose to use either the new GAAP for Private Enterprises (ASPE) or IFRS for reporting after January 1, 2011. But one way or the other you have to make a changeover. Many private companies are now preparing Year-End financial statements. If your company chooses ASPE over IFRS, you'll need to be up-to-speed on ASPE. This intensive webinar summarizes ASPE so that in a couple of hours you can walk away with a clear understanding of what ASPE means for you and your company.
Topics covered:
- What exactly is ASPE and how is it different from GAAP?
- What changes and what doesn’t?
- Point by point summary
- How will these changes affect companies?
- New disclosure requirements
- When is IFRS a better choice?
Date: February 14, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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IFRS and Fraud: The Perfect Combo
The switchover from GAAP to IFRS is causing some concern on the part of accountants. They can see where having to make so many judgment decisions opens up the potential for fraud. There can be subtle pressure to use this discretionary power to fudge the numbers a little bit.
Whether you will be involved in preparing IFRS financial statements or analyzing those statements, attend this Webinar to discover where the high-risk areas are and what you can do about them.
Topics covered:
The big 4 risk areas:
- Asset valuation
- Revenue recognition
- Offsetting
- Reserves
The fraud triangle:
- Opportunity
- Rationalization
- Pressure/need
Fraud strategies:
- Twisting the principles to justify decisions
- Misleading the auditor
- Compromising auditor independence
Red flags:
- Vague Management Discussion & Analysis
- Confusing financial statement notes
- Incomplete schedules
Date: February 16, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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| IFRS 13 Fair Value Measurement Feb 21 |
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have jointly issued new guidance on Fair Value Measurement and new Disclosure requirements for International Financial Reporting Standards (IFRS) and U.S.Generally Accepted Accounting Principles (GAAP).
This Webinar will show you how the new standard will improve how you measure Fair Value and what you must disclose.
Topics covered:
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How “IFRS 13: Fair Value Measurement” simplifies Fair Value measurement
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What parts of FASB’s Topic 820 (formerly SFAS 157) are aligned with IFRS 13
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A simpler, more precise definition of Fair Value
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Examples of how IFRS 13 will affect financial instruments, intangibles, non-financial assets, and liabilities
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Requirements for enhanced disclosures across all IFRSsFASB Topic 820 changes and their effects on US GAAP
Date: February 21, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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| New IFRS US GAAP Financial Asset and Liability Offsetting Disclosure requirements Feb 24 |
In December, 2011, in an effort to standardize current practices, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) jointly issued amendments to Offsetting of Financial Assets and Financial Liabilities Disclosure requirements.
These amendments will apply simultaneously to both IFRS and U.S. GAAP for both year-end and interim financial statements starting on January 1, 2013. This means that Q1, 2013, quarterly statements will have to provide year-to-year quarterly comparative information based on these new requirements.
If you need to become familiar with these changes to IAS 32 (IFRS Financial Instruments-Presentation) and IFRS 7 (Financial Instruments-Disclosures) in order to comply with the newly expanded disclosure requirements, I will be presenting a webinar on February 24 that will ensure that you are up-to-date with these new changes. This webinar qualifies for continuing education points for CMA, CGA, CA, and the Canadian Institute of Credit.
Topics covered:
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Convergence of financial assets and financial liabilities disclosure requirements for IFRS and U.S. GAAP financial statements.
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Significant changes to IAS 32 and the meaning of "simultaneous realization and settlement"
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Definition of "legally enforceable right of set-off" and IFRS 7 Rights of Offset disclosures
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Minimum disclosure requirements for financial assets and financial liabilities
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Formatting requirements and grouping by asset types and by transaction type
Date: February 24, 2012
Time: 1 pm - 3 pm EST
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
Certificates of completion will be emailed (qualifies for continuing education points)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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IFRS for Inventory
International Financial Reporting Standards have changed how companies account for inventory on their financial statements.
As the largest or second-largest item on the balance sheet, and a significant item on the income statement (cost of goods sold), accounting for inventory is a high priority. IFRS requires the accountant to measure the fair value of inventory by choosing among several alternative methods. But just exactly how do you do it? This webinar will provide you with easy-to-follow guidelines that will ensure that you are able to comply with IFRS.
Topics covered will include:
Date: February 29, 2012
Time: 1 pm - 3 pm EST
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
Certificates of completion will be emailed (qualifies for continuing education points)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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| IFRS Financial Instruments March 6 |
International Financial Reporting Standards have changed how companies account for investments on their financial statements.
Accountants are expected to assign a fair value to financial instruments, but with so many choices for assigning a value, just exactly how do you do it?
This Webinar will provide you with easy-to-follow guidelines that will ensure that you can comply with these new standards.
Topics covered:
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Valuation methods under IFRS (including the new IFRS #13 measurement)
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Debt vs. equity investments
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Joint ventures
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Investment property
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Accounting for hedging
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Disclosure requirements
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Financial statement presentation
Date: March 6, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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| IFRS Fixed Assets March 8 |
International Financial Reporting Standards have changed how companies account for long-lived tangible assets on their financial statements.
Accountants are expected to decide how to first record the acquisition of long-lived assets, assess the value at which they are presented on future financial statements, and work out the allocation of the cost of these assets over future reporting periods. In addition, IFRS allows periodic re-evaluation of long-lived assets under certain conditions, but with so many choices for assigning a value, just exactly how do you do it?
This Webinar will provide you with easy-to-follow guidelines that will ensure that you can meet the compliance requirements for these standards.
Topics covered:
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Concepts and Rules for Property, Plant, and Equipment
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Revaluation methods under IFRS
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Impairment of tangible long-lived assets
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Capitalization of borrowing costs
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Retirements and other disposals of long-lived assets
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Nonmonetary (exchange) transactions
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Disclosure requirements
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Financial Statement Presentation
Date: March 8, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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Whether you are just trying to get through the conversion to IFRS or are well into it, this webinar is for you.
You will get up to date with an overview of the latest IFRS standards.
You will also have plenty of opportunity to ask about applying these standards.
Topics covered:
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GAAP vs. IFRS
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What will change
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What will not change
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Who needs to comply
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The four key principles of IFRS
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Review of disclosure requirements
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Rules for assigning values to assets
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How IFRS will affect SOX compliance
Date: April 17, 2012
Time: 1 pm - 3 pm EST
Certificates of completion will be emailed (qualifies for continuing education points)
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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It is estimated that small and medium-sized entities account for over 95 per cent of all companies around the world. So, as a financial professional, regardless of the field you are in, it is important that you understand what IFRS for SME's is all about.
There have been many updates since July, 2009 when the International Accounting Standards Board introduced an independent International Financial Reporting Standard (IFRS) for small and medium-sized entities (SMEs).
This webinar will ensure that you are up-to-date with the latest IFRS for SME's.
Topics covered:
· Which companies qualify as SME’s
· The benefits of the new standard for SME’s
· What changes and what doesn’t
· Simpler recording and measuring of assets, liabilities, income
and expenses
· Which topics not relevant to SMEs can be omitted
· Disclosure requirements under the IFRS for SMEs standard
· Examples of IFRS for SME’s financial statements
Date: June 28, 2012
Time: 1 pm - 3 pm EST
Cost: $99 + tax (VISA, MasterCard, American Express accepted in advance)
Certificates of completion will be emailed (qualifies for continuing education points)
To register call Mike Morley at 416-275-1278 or email mike@mikemorley.com
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I just wanted to share with you this lovely testimonial I received from Myrna Buttner Stahl, who is the Director of Member Services for CMA Saskatchewan, regarding recent seminars in Regina and Saskatoon.
"Mike Morley's presentations on IFRS to CMA members in Saskatchewan were excellent. He provided a comprehensive overview of the topic and used many examples to illustrate the new standards. Mr. Morley made a point to meet as many of our members as possible before and after the presentations and our members' feedback on the events was very positive."
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