Revenue Recognition under IFRS- Workshop 1 of 2

Training Provided by IFRS Consultants Our workshops are participative in nature and have as a main objective, the participants' ability to apply the standards in real-life, practical situations. While delegates do earn valuable CPD hours, which are quantified in accordance with internationally recognised procedures, our focus is on learning. We also provide in-house training and consultancy for corporate clients. In addition to our own workshops, we have provided training on behalf of the following: The Association of Chartered Certified Accountants (ACCA) . The Institute of Chartered Accountants of Barbados (ICAB) The Institute of Chartered Accountants of the Caribbean(ICAC) The Institute of Chartered Accountants of the Eastern Caribbean (ICAEC) The Institute of Chartered Accountants of Trinidad and Tobago (ICATT) The Economist magazine describes Revenue Recognition as: the vexed issue of when precisely to include revenue in the accounts - for example, when an order is made, when it is shipped, or when payment is received As far back as 2004, the IASB and the United States FASB embarked upon a joint Revenue Recognition project with the following main objectives: 1. Converging US and international standards on revenue recognition 2. Eliminating inconsistencies in the existing conceptual guidance on revenues 3. Providing conceptual guidance that would be useful in addressing revenue recognition issues that may arise in the future 4. Eliminating inconsistencies in existing standards-level authoritative literature and accepted practices 5. Filling voids in revenue recognition guidance that have developed over time 6. Establishing a single, comprehensive standard on revenue recognition This project is not expected to be completed before 2009. Our workshop, Revenue Recognition I, explores current guidance under IFRS and highlights certain areas where IFRS are currently less than explicit. In these instances, reference is made to related US GAAP. We will review the following standards and related interpretations in so far as they relate to revenue recognition: IAS 11: Construction Contacts IAS 17: Leases IAS 18 : Revenue Recognition In Revenue Recognition II, we explore in detail, guidance under US GAAP. Revenue Recognition I is scheduled as follows: Revenue Recognition Duration: (full day) Time: 8: 00 am to 4: 15 pm Venue: Marriott Hotel, Port of Spain -January 14 Royal Hotel San Fernando - January 15 Cost: TT $1, 500 plus VAT Revenue Recognition II is yet to be scheduled. We shall send these details in our annual schedule to be sent out in the near future. Registration For further information, please contact us at: seminars ifrs-consultants. com

Revenue Recognition under IFRS- Workshop 1 of 2 IAS 19 - Employee Benefits







Workshop Benefits



Our full-day workshop on this topic will address the definitions and interpretations of the concepts addressed in the standard and explore their practical application through the use of examples, group discussion, questions and case analysis.

We shall also provide some insight into the IASB s current thinking in respect of the proposed amendments to this standard.

At the end of the workshop, delegates will be able to apply the recognition, measurement, presentation and disclosure principles of the standard and be familiar with the journal entries and implications of the actuarial report. In particular, participants will have a working knowledge of the standard as it relates to the following:

Short term employee benefits such as wages, salaries, compensated absences, benefits in kind and bonuses

Pension plans - defined benefit and defined contribution and State plans

Post-employment life insurance and post-employment medical care;

Deferred compensation

Other long-term employee benefits, including long-service leave or sabbatical leave, jubilee or other long-service benefits and long-term disability benefits

Termination benefits



Who should attend General Managers



Accountants
Chief Financial Officers
Financial Controllers
Partners
General Managers
Board Members
Business Owners
Directors of Finance
Bankers
Other Interested Persons

Continuing Professional Development (CPD)



7 hours



Course Venue Dates and Times





Marriott Hotel, Port of Spain Tuesday, November 20, 2007 8:00 a.m. to 4:15 p.m.

Royal Hotel, San Fernando Friday, November 23, 2007 8:00 a.m. to 4:15 p.m.



Registration starts at 7:30 A.M.



Cost per workshop



TT $1,500 plus VAT



Registration





For further information, please contact us at:

seminars ifrs-consultants.com

About The Training Provider: IFRS Consultants