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Unravelling IFRS 9 and IPSAS 41: The Intricacies and Prospects of the Expected Credit Loss Impairment Model

Since the implementation of the IFRS 9 Financial Instrument on January 1, 2018, a new era of financial accounting has emerged, transforming how organizations recognize expected credit losses. This forward-looking provisioning model aimed to provide a more accurate assessment of credit risk and timely recognition of potential losses. However, challenges persist as many entities worldwide have yet to fully implement IFRS 9's requirements or establish robust Expected Credit Loss (ECL) models. Furthermore, the unpredictable nature of the COVID-19 pandemic has raised concerns about the predictability of existing ECL models.

To address these issues, the International Accounting Standards Board (IASB) is conducting a post-implementation review (PIR) of the expected credit loss (ECL) requirements in IFRS 9. The review encompasses critical areas such as the recognition of ECL, determining significant increases in credit risk, measurement of ECL, and disclosures, with the aim of enhancing the effectiveness and relevance of the model.

In parallel, the accounting landscape is undergoing a significant change with the introduction of IPSAS 41, effective from January 1, 2023, replacing parts of IPSAS 29. IPSAS 41 introduces a revolutionary single forward-looking model that eliminates the threshold for impairment recognition. Under this new model, entities are required to recognize expected credit losses continuously, utilizing a dual measurement approach of either 12-month or lifetime expected credit losses. This forward-looking approach enhances the quality of information available to stakeholders, aiding better decision-making.

For those seeking a comprehensive understanding of these changes, a one-day workshop dedicated to navigating the challenges and opportunities presented by the IFRS 9 and IPSAS 41 impairment models is being offered. This hands-on session provides participants with a clear roadmap for implementing the ECL model and highlights the synergies between regulatory and IFRS 9 impairment requirements. Expert instructors will guide attendees through real-life examples and group case studies, addressing critical issues such as ECL models, back-testing challenges, and best practices, all within the context of the ongoing COVID-19 pandemic.

During this workshop, participants will have the opportunity to delve into key aspects of the expected credit loss impairment model, including understanding the transition from the incurred loss model to the expected credit loss model under IFRS 9 and IPSAS 41 and the implications of this transition. They will also explore the scope and objective of the expected credit loss impairment model, discussing the latest challenges and modifications required in the ECL model, particularly in response to the COVID-19 pandemic.

Additionally, participants will examine proposed models for measuring expected credit losses, including the three-bucket model and credit-adjusted effective interest rate. They will gain insights into the application of the ECL model to specific financial instruments such as loan commitments and financial guarantee contracts and explore the intricacies of implementation challenges associated with the ECL model, including the issue of pro-cyclicality and building buffer.

This workshop also addresses the alignment of the expected credit loss impairment model with Basel III/IV requirements and sheds light on the disclosure requirements under the ECL model and the challenges ahead. Participants will have the opportunity to develop an implementation roadmap and plan for the transition to the ECL model while comparing it with the proposed impairment model by the FASB (CECL approach). Furthermore, they will identify emerging issues and challenges related to the ECL model, ensuring a comprehensive grasp of this vital financial accounting change.

By attending this one-day workshop, participants will not only gain a comprehensive understanding of the expected credit loss impairment model and its implementation under IFRS 9 and IPSAS 41 but also have the opportunity to participate in group exercises and case studies to reinforce their learning. Additionally, they will be able to seek clarification during the Q&A sessions to address any doubts or concerns they may have.

Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23002 | Zurich: November 4, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23003 | Dubai: November 15, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23004 | Singapore: October 17, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23007 | Cape Town: October 10, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23012 | Sydney: November 23, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23013 | Miami: December 16, 2023

IFRS 9 and IPSAS 41 Impairment Workshop | GID 23000 | Online | Available on request

For more details and to enrol in IFRS 9 and IPSAS 41 Impairment Workshop, please visit:

The IFRS 9 Financial Instrument became effective from 1 January 2018 which bring together a new framework concerning the classification and

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IFRS 15 Revenue Recognition Workshop: Navigating the Complexities

In the fast-paced world of business, staying abreast of evolving regulations and standards is crucial for any organization aiming to maintain its competitive edge. Shasat, a renowned name in professional training and development, has taken a bold step forward by launching its highly anticipated IFRS 15 Revenue Recognition Workshop. This intensive program is designed to provide professionals with the knowledge and skills needed to effectively navigate the complexities of the International Financial Reporting Standard (IFRS) 15, which came into effect on January 1st, 2018.

IFRS 15 is a standard that has left its mark on the global business landscape, particularly impacting companies engaged in long-term contracts with multiple elements. Industries such as telecommunications, software development, health sciences, and construction have found themselves grappling with the intricacies of this regulation. Shasat's workshop promises to be a beacon of guidance in this challenging terrain.

At the heart of this program lies a comprehensive exploration of the five-step model of IFRS 15. This model demands that organizations carefully distinguish between various elements within a contract and then recognize revenue for each element based on separate pricing structures. Additionally, participants will delve into the substantial demands imposed by the standard in terms of data collection and system capabilities, offering a practical and hands-on approach to compliance.

One of the standout features of the Shasat IFRS 15 Revenue Recognition Workshop is its holistic examination of the standard's implications. It shines a spotlight on critical areas such as the timing of revenue recognition and its far-reaching effects on aspects like bonuses, performance targets, key performance indicators (KPIs), corporate income tax, external relations, loan covenants, regulatory requirements, and other key areas. Even companies not typically engaged in long-term contracts will grapple with the standard's extensive disclosure requirements, adding to the urgency of understanding its nuances.

Participants in this workshop can anticipate gaining practical insights and skills to effectively navigate the new requirements imposed by IFRS 15. Furthermore, the program will provide attendees with insights into practical approaches for adapting their IT systems and underlying processes to align with the standard's demands. By the conclusion of the course, professionals will possess not only a deep understanding of IFRS 15 but also the confidence needed to ensure compliance with its requirements.

Shasat is proud to present this high-intensity 2-day course, led by expert trainers from the United Kingdom. These trainers bring a wealth of knowledge and experience to the table, offering practical insights and perspectives to help participants tackle the complexities of IFRS 15 head-on. Given the exclusivity of this learning opportunity, Shasat has made a limited number of seats available for the program.

Professionals across industries are encouraged not to miss out on this unique chance to deepen their understanding of IFRS 15 and position themselves for success in an evolving regulatory environment. To secure a spot in this program, individuals are urged to reach out to Shasat's training service team promptly.

Shasat's IFRS 15 Revenue Recognition workshop offers comprehensive coverage of essential areas, equipping participants to effectively navigate the latest regulatory mandates. Key learning features encompass identifying bundles of goods or services compared to distinct ones of substantial similarity, segregating combined contracts into distinct revenue components, determining transaction prices, allocating transaction values to contractual performance obligations, and employing various approaches, including the adjusted market assessment approach, expected cost plus margin approach, and the residual approach (under specific circumstances). Additionally, the workshop delves into recognizing revenue over time or at specific points, handling sales with return rights, addressing presentation and disclosure concerns, and highlighting critical distinctions between IFRS and US Generally Accepted Accounting Principles (GAAP). These topics represent vital knowledge for achieving compliance with the new regulations, and Shasat's expert trainers are dedicated to empowering participants with the requisite expertise and tools to excel in these domains.

Shasat's IFRS 15 Revenue Recognition Workshop will be held at various locations worldwide, ensuring accessibility to professionals from diverse regions. The upcoming program details are as follows:

 IFRS 15 Revenue Recognition Workshop | GID 25002 | Zurich: November 6-7, 2023

IFRS 15 Revenue Recognition Workshop | GID 25004 | Singapore: October 26-27, 2023

IFRS 15 Revenue Recognition Workshop | GID 25005 | Toronto: December 8-9, 2023

IFRS 15 Revenue Recognition Workshop| GID 25007 | Cape Town: October 3-4, 2023 

IFRS 15 Revenue Recognition Workshop | GID 25008 | Sydney: November 27-28, 2023

IFRS 15 Revenue Recognition Workshop | GID 25009 | Miami: December 19-20, 2023

For more details and to enrol in IFRS 15 Revenue Recognition Workshop, please visit:

https://shasat.co.uk/product-category/ifrs15-revenue-recognition-workshop-2-days/

This global reach ensures that professionals from various regions can access this valuable learning opportunity. To secure a place in the workshop, interested individuals are encouraged to contact Shasat's training service team promptly.

In a rapidly changing business landscape, knowledge is power. Shasat's IFRS 15 Revenue Recognition Workshop promises to be an indispensable resource for professionals seeking to navigate the complexities of this international accounting standard successfully. Don't miss this exclusive chance to enhance your skills and stay ahead in the ever-evolving regulatory landscape.

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Shasat & Becker Unleashes Updated CPA Refresher: A New Take on Traditional Learning

In the ever-evolving world of accounting, achieving the coveted Certified Public Accountant (CPA) designation is a testament to one's commitment to excellence. It's a global standard of competence, recognized and respected across borders. Shasat, in collaboration with Becker Professional Education, brings you the Shasat-Becker CPA Exam Review Course, a comprehensive and highly effective study program designed to equip aspiring accountants with the tools and knowledge needed to excel in the CPA exam and launch a successful career.

For more than six decades, Becker Professional Education has been at the forefront of CPA exam preparation, guiding over a million candidates toward successful exam outcomes and fulfilling careers in accounting. With this rich legacy, the Shasat-Becker CPA Exam Review Course is poised to revolutionize the way candidates prepare for the CPA exam.

The CPA exam, administered by the American Institute of Certified Public Accountants (AICPA), is a rigorous assessment covering a broad spectrum of topics, including accounting, law, analytics, taxation, auditing, evaluation, regulatory frameworks and procedures, ethics, and finance management. Earning the CPA certification opens doors to countless opportunities in the world of accounting, whether you aspire to work with corporations, engage in private practice, or serve individual clients.

The Shasat-Becker CPA Review Course is meticulously crafted to provide candidates with all the essential resources for passing the CPA exam on their first attempt. This program offers a plethora of features, including expert-led video lectures, interactive textbooks, practice exams, multiple-choice questions, and an array of supplementary materials to facilitate effective learning. Recognizing the challenges candidates may face, the Becker Promise is introduced, offering a tuition waiver program for students who complete the course but do not pass the exam on their first try. This demonstrates a commitment to supporting every student on their journey to CPA certification.

As the exclusive provider of Shasat-Becker CPA Review Courses, course materials, and related support in Europe and Hong Kong, Shasat is dedicated to delivering top-notch training and assistance to aspiring CPAs. The course content is continuously updated to reflect changes in exam content and format, ensuring candidates are always well-prepared. A range of study options, including in-person classes, online classes, and video lectures, caters to individual learning styles and schedules. The focus is unwavering – to help candidates succeed in achieving their CPA certification and subsequent career goals.

The Shasat-Becker CPA Exam Review Course boasts a range of key learning features to ensure comprehensive preparation for the CPA exam and a successful career in accounting. These features include experienced and passionate trainers who provide over 40 hours of instructor-led online or in-person training, learning content developed by Becker Professional Education, comprehensive learning materials, including handouts/notes and task-based simulations, mock tests and past exam papers for a realistic exam experience, interactive sessions with instructors and fellow students, performance feedback, career services, recognition with CPD hours and a certificate of completion, logistical support, and even translation support for non-native English speakers.

Your journey to becoming a CPA begins with Shasat and Becker. The flexibility and support offered by the Shasat-Becker CPA Exam Review Course make it an ideal choice for aspiring accountants. Don't miss this opportunity to master the CPA exam and unlock the doors to a rewarding career in accounting.

For those ready to embark on this transformative journey, here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Becker CPA Exam Review Course | GID 51001 | Online

Becker CPA Exam Review Course | GID 51002 | London

Becker CPA Exam Review Course | GID 51003 | Zurich

Becker CPA Exam Review Course | GID 51004 | Hong Kong

Becker CPA Exam Review Course | GID 51005 | Riga

Becker CPA Exam Review Course | GID 51006 | Paris

For more details and to enrol in Shasat-Becker CPA Exam Review Course, please visit:

https://shasat.co.uk/product-category/becker-cpa-exam-review-course/

Take the first step toward your CPA certification with Shasat and Becker. Your success story starts here.

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IFRS 16 Leases: Persistent Challenges for Finance Professionals

Shasat, a reputable name in the world of financial education and training, has unveiled an exciting and timely initiative: the IFRS 16 Leases Workshop. This program has been carefully designed to address the seismic shifts in lease accounting brought about by the IFRS 16 accounting standard, a pivotal change that's been hailed as the most significant in over 30 years.

With the introduction of IFRS 16, companies adhering to International Financial Reporting Standards (IFRS) are facing a transformative challenge. The longstanding practice of classifying leases as either operating or finance leases has been overhauled. Now, all leases are to be reported on the balance sheet, fundamentally altering the way businesses account for these financial obligations. It's worth noting that some exemptions still apply, specifically for short-term leases without purchase options or low-value assets.

This shift in lease accounting brings forth an era of enhanced transparency and clarity in financial reporting. Investors will benefit from financial statements that more accurately mirror the economic realities of businesses. This, in turn, simplifies the process of evaluating and comparing companies within the same industry, ultimately supporting more informed investment decisions.

Moreover, the implementation of IFRS 16 (also known as ASC 842 under US GAAP) results in a notable increase in assets, liabilities, and net debt. These changes have a direct impact on key accounting and financial ratios, which can influence a company's appeal to potential investors and its ability to secure essential financing.

For professionals and organizations looking to navigate these complex changes and optimize their financial reporting, the IFRS 16 Leases Workshop is an invaluable resource. It equips participants with the knowledge and skills required to effectively tackle the challenges posed by IFRS 16. The course covers a wide array of essential topics, including determining suitable lease portfolios, understanding asset identification criteria, evaluating lease terms, and accounting for various types of lease payments.

Participants will also gain insight into reassessing lease liabilities in the face of changing lease terms, understanding lease incentives, initial direct costs, and dismantling costs. The treatment of non-lease components in a lease contract and handling onerous leases under IFRS 16 are also addressed. The course further delves into the critical aspect of applying the appropriate discount rate to calculate lease liabilities and offers guidance on where to source these rates.

To accommodate professionals worldwide, Shasat has made the IFRS 16 Leases Workshop accessible through various platforms and locations. This inclusive approach ensures that individuals from diverse backgrounds and regions can benefit from this essential training.

Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IFRS 16 For Leases Workshop | GID 32001 | London: September 29, 2023 

IFRS 16 For Leases Workshop | GID 32002 | Zurich: November 1, 2023

IFRS 16 For Leases Workshop | GID 32003 | Dubai: November 15, 2023

IFRS 16 For Leases Workshop | GID 32004 | Singapore: October 28, 2023

IFRS 16 For Leases Workshop | GID 32005 | Toronto: December 7, 2023

IFRS 16 For Leases Workshop | GID 32007 | Cape Town: October 7, 2023

IFRS 16 For Leases Workshop | GID 32008 | Sydney: November 24, 2023

IFRS 16 For Leases Workshop | GID 32009 | Miami: December 13, 2023

IFRS 16 For Leases Workshop | GID 32000 | Online: Available on request

For more details and to enrol in IFRS 16 Leases Workshop, please visit:

IFRS 16 Leases Are you a financial professional looking to stay ahead of the curve in the ever-evolving landscape of International Financ

By participating in this comprehensive workshop, finance professionals and organizations can prepare themselves to meet the complexities of the IFRS 16 accounting standard head-on. This knowledge not only enhances financial reporting accuracy but also strengthens a company's appeal to potential investors and its ability to secure vital financing.

In today's dynamic financial environment, staying ahead of accounting standards is imperative. The IFRS 16 Leases Workshop by Shasat offers an unparalleled opportunity to do just that. Register now to gain a competitive edge in your industry and navigate the evolving world of finance with confidence.

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Banking Professionals Grapple with Evolving Threats: The Imperative of Advanced Risk Management Programs

In the ever-evolving landscape of the banking industry, Shasat has unveiled a new program aimed at helping banking professionals master the art of risk management. Titled "Navigating Uncertainty: Mastering Risk Management in Banking," this two-day course comes at a critical juncture, emphasizing the indispensable role of effective risk management in banking success.

Recent high-profile bank failures and lingering economic uncertainties have amplified the need for robust risk management practices. The catastrophic collapse of SVB Bank serves as a poignant reminder that even seemingly stable financial institutions can falter when risk assessment and management fall short.

The program delves into case studies of recent bank failures, providing valuable insights into the causes and repercussions of inadequate risk management. Participants will not only learn about best practices in risk management but also acquire practical skills for identifying, assessing, and managing various forms of risks prevalent in the banking sector. These include credit, market, operational, and reputational risks.

Unlike many traditional courses, this program goes beyond theory, offering interactive discussions and activities to help participants apply their newfound knowledge to real-world scenarios. By the end of the course, attendees will possess a deeper understanding of the paramount importance of risk management in banking and a toolbox of practical strategies to mitigate risks effectively within their organizations.

The key learning features of this course empower participants to enhance their banking expertise in various ways. Upon completion, individuals will be well-prepared to identify and evaluate diverse risk types in the banking sector, spanning credit, market, operational, and reputational risks. Moreover, they will gain a comprehensive understanding of the causes and consequences of recent bank failures, enabling them to incorporate these valuable lessons into their risk management approaches. Participants will learn to craft effective risk management strategies that align with organizational goals and regulatory mandates. They will also acquire the skills to employ risk assessment techniques for prioritizing risks and optimizing resource allocation. Furthermore, the course equips them with the knowledge to implement robust risk monitoring and reporting mechanisms, and apply practical tools and techniques to mitigate risks, ultimately enhancing overall risk management practices within their respective organizations.

Shasat's "Navigating Uncertainty: Mastering Risk Management in Banking" program is scheduled to take place in several major cities, as well as online. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Mastering Risk Management in Banking | GID 50051 | Zurich: October 30-31, 2023

Mastering Risk Management in Banking | GID 50052 | Toronto: December 7-8, 2023

Mastering Risk Management in Banking | GID 50053 | Johannesburg: November 9-10, 2023

Mastering Risk Management in Banking | GID 50055 | London: October 19-20, 2023

Mastering Risk Management in Banking | GID 50056 | Singapore: October 12-13, 2023

Mastering Risk Management in Banking | GID 50057 | Sydney: October 9-10, 2023 

Mastering Risk Management in Banking | GID 50058 | New York City: November 16-17, 2023

Mastering Risk Management in Banking | GID 50050 | Online | Available on request

For more details and to enrol in Banking & Risk Management Courses, please visit:

https://shasat.co.uk/product-category/banking-risk-management-courses/

For banking professionals looking to sharpen their risk management skills and ensure the stability and success of their organizations, Shasat's new program offers a comprehensive and timely solution. Don't miss this opportunity to navigate uncertainty and master risk management in banking.

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Basel IV Workshop - Unveils Strategies for Banking Compliance

In a bid to demystify the intricacies of Basel IV, Shasat, a prominent player in financial education and consultancy, has announced an insightful two-day, in-person workshop aimed at clarifying the capital and liquidity requirements under the Basel IV framework, also known as Basel 3.1. This comprehensive workshop is set to provide bankers and financial professionals with a deep understanding of Basel IV and strategies to ensure compliance.

Originally slated for implementation on January 1, 2022, the Basel IV framework's rollout was postponed to January 1, 2023, due to the global Covid-19 pandemic. However, a recent update has revealed that the EU and UK will adopt Basel IV on January 1, 2025. These regulations, formulated by the Basel Committee on Banking Supervision in 2017, encompass significant changes to global capital requirements, particularly concerning credit risk assessment.

Basel IV introduces measures aimed at standardizing and harmonizing how banks calculate risk, rather than simply increasing capital requirements. These reforms will affect various aspects, including internal risk models, output floors, leverage ratios, credit valuation adjustments (CVA), and operational risk frameworks. The impact of Basel IV is expected to vary across regions due to differences in the utilization of internal risk models by banks.

Shasat's workshop is tailored to provide a deep dive into the key components of Basel IV, encompassing topics such as the standardized approach for credit risk, the internal ratings-based approach, the output floor, and the new market risk framework. Additionally, the workshop will shed light on liquidity requirements, including the net stable funding ratio and the liquidity coverage ratio, and offer strategies to ensure compliance.

Throughout the program, participants will engage with real-world case studies, practical exercises, and examples to grasp the tangible implications of Basel IV for their respective organizations. The workshop will analyze success stories of banks that have adeptly navigated the new regulatory landscape, identifying crucial best practices.

This comprehensive course offers key learning features that are essential for professionals in the financial industry. Participants will gain a deep understanding of the significant changes introduced by the Basel Committee and their profound impact on global capital requirements, with a specific focus on credit risk assessment. Additionally, the course covers the intricacies of complying with the new liquidity requirements outlined in Basel IV, along with effective strategies for meeting them. Participants will master the standardized approach to operational risk as mandated by Basel IV and develop proficiency in managing market risk through the Fundamental Review of the Trading Book (FRTB) internal model, while also grasping the implications of the new market risk framework. Moreover, participants will become experts in making transitional adjustments to capital output floors, ensuring their organizations' compliance with the latest capital requirements. The course also delves into the incorporation of the counterparty credit risk standardized approach into the risk management framework and its impact on overall capital and liquidity requirements. Throughout, participants will gain practical knowledge and tools to navigate and excel in risk management within the evolving Basel IV regulatory framework.

Upon completing the workshop, participants will leave equipped with practical insights and tools needed to navigate their organizations through the complexities of Basel IV. They will be well-prepared to ensure compliance and manage risks effectively within the evolving regulatory landscape.  Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Basel IV – Capital and Liquidity Requirements Demystified | GID 50101 | Singapore: Oct. 16-17, 2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50102 | London: Nov. 27-28, 2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50103 | Toronto: Dec. 13-14,  2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50104 | Zurich: Dec. 7-8, 2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50107 | Sydney: Nov. 24-25, 2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50108 | New York City: Dec. 4-5, 2023

Basel IV – Capital and Liquidity Requirements Demystified | GID 50100 | Online (Available on request)

For more details and to enrol in Banking & Risk Management Courses, please visit:

https://shasat.co.uk/product-category/banking-risk-management-courses/

Financial professionals and bankers are encouraged to seize this opportunity to enhance their understanding of Basel IV and equip themselves with the knowledge and tools necessary to ensure compliance in the ever-evolving financial regulatory landscape.

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Shasat Tops the Charts in Market Study on FRS 102 and FRS 105 Programs

Recent market research involving ten prominent entities from banking, insurance, and corporate sectors in the UK and Ireland reveals a limited number of programs addressing FRS 102 and FRS 105. Out of the three entities in the UK offering such programs, Shasat stands out. It has been distinguished as the premier choice for those seeking an in-depth understanding of FRS 102 and FRS 105.

Renowned for its premium professional education offerings, Shasat's program focusing on FRS 102 and FRS 105 – the essential UK accounting standards for small and medium-sized enterprises – marks its two-year anniversary. The course, known for delivering in-depth knowledge, remains a top choice for both professionals and enthusiasts aiming to master these pivotal standards.

The comprehensive course, titled "Mastering SME Accounting: An In-depth Workshop on FRS 102 and FRS 105," is tailor-made to offer participants an extensive insight into the intricacies of these standards, shedding light on their critical requisites and practical implications for SMEs.

FRS 102, a multifaceted standard, lays down the foundational principles of financial reporting within the United Kingdom and the Republic of Ireland. This encompassing standard covers a wide array of topics, encompassing the recognition and measurement of assets, liabilities, income, and expenses, as well as the presentation and disclosure of financial statements. It is particularly relevant to most SMEs in the UK and the Republic of Ireland, with updates introduced periodically. The most recent version was issued in March 2018. 

On the other hand, FRS 105 offers a simplified framework, primarily designed for micro-entities, defined as very small businesses that meet specific size criteria. Derived from FRS 102, FRS 105 imposes fewer disclosure requirements, rendering compliance more accessible and cost-effective for micro-entities. This standard applies to entities that fulfil the criteria of a micro-entity under UK law, with its most recent update introduced in 2020.

Throughout the course, participants will gain an in-depth understanding of the scope and structure of both FRS 102 and FRS 105, delving into the core principles and concepts that underpin these standards. They will also explore the specific requirements and options available to SMEs under each standard, learning to apply these standards to real-world scenarios. This includes tasks such as preparing financial statements, measuring assets and liabilities, and handling common transactions and events.

The program caters to a diverse audience, including small business owners, accountants, auditors, and accounting students. It promises valuable insights into the realm of SME accounting within the UK and the Republic of Ireland. By the course's conclusion, participants should possess the proficiency to comprehend and apply FRS 102 and FRS 105 to various SMEs and scenarios. Additionally, they will grasp the challenges and opportunities that these standards present in today's dynamic business environment.

The course offers a comprehensive exploration of the FRS 102 and FRS 105 standards, encompassing their scope, structure, and critical requirements. Real-world case studies and practical examples are integrated to demonstrate the relevance and applicability of these standards in real business scenarios. Interactive exercises and case studies empower participants to reinforce their understanding of the material. Additionally, the course provides access to a wealth of up-to-date resources and materials, including the latest versions of the FRS 102 and FRS 105 standards, guidance notes, and practical tools and templates. Throughout the learning journey, instructors offer personalized support and feedback to address queries and provide guidance. Moreover, the course offers valuable professional development opportunities by granting CPD (Continuing Professional Development) hours and certification upon successful completion. 

For those interested in enrolling in this valuable course, Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

FRS 102 and FRS 105 Masterclass | GID 37001 | London: November 29-30, 2023

FRS 102 and FRS 105 Masterclass | GID 37002 | Edinburgh: October 12-13, 2023

FRS 102 and FRS 105 Masterclass | GID 370000 | Online | Available on request

For more details and to enrol in FRS 102 and FRS 105 Masterclass, please visit:

https://shasat.co.uk/product-category/frs-102/

This program promises to be an indispensable resource for individuals seeking to master the intricacies of SME & Micro entity accounting in the UK and the Republic of Ireland, ensuring they are well-equipped to navigate the challenges and opportunities in the dynamic world of finance and accounting.

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CECL Model: Navigating Its Complex Labyrinth Requires Continuous Adaptation and Learning

In December 2019, the Financial Accounting Standards Board (FASB) introduced its Accounting Standards Update on Financial Instruments – Credit Losses (ASC 326), commonly referred to as the Current Expected Credit Loss (CECL) model. This ground-breaking change revolutionized how banks estimate credit losses and carried significant implications for financial institutions and entities with financial assets and net investments in leases.

Despite the passage of several years, numerous organizations continue to grapple with the implementation of the CECL model and refining their approach to adhere to the new accounting standards outlined in this impairment framework. The impact on organizational processes and systems has proven to be substantial, necessitating technical expertise, meticulous planning, and strategic considerations for a successful transition.

In response to the ongoing need for clarity and guidance, Shasat, a distinguished leader in professional education, has introduced a two-day Impairment Workshop. This intensive course is specifically designed to empower professionals with a comprehensive understanding of the CECL model, its proposed implementation, and the challenges encountered during the transition. The workshop will also draw valuable insights from past accounting changes, explore practical and strategic implications of Topic 326, and delve into the regulatory landscape and other significant accounting modifications affecting it.

The workshop will furnish participants with an intricate comprehension of the CECL model, encompassing its scope, objectives, and key components. Attendees will discern the disparities between the incurred loss model and the expected credit loss model, as well as grasp how the new model shapes the landscape for financial institutions.

Comprehensive coverage of credit modeling considerations for various asset classes, alternative modeling options, and the challenges related to data requirements and input variables will be provided. Participants will gain practical experience through group case studies and real-world examples.

A core aspect of the workshop will be the exploration of the accounting and regulatory ramifications stemming from the CECL model. This includes its influence on credit risk management, profitability forecasting, and investor disclosures. The workshop will also touch upon adapting strategies to optimize returns under the novel dimension of forward-looking risk and emerging industry practices.

A thorough examination of implementation issues will be carried out, addressing concerns related to revolving credit instruments, PCD assets for beneficial interests, reasonable expectations, and the utilization of DCF, discount rates, subsequent recoveries, zero expected credit loss factors, refinancing, prepayments, and other challenges. The quantification methodology for the CECL model will also be elucidated, emphasizing the significance of segmentation, synergies between existing and CECL modeling, and the importance of reasonable and supportable forecasts and data. Participants will have the opportunity to apply their knowledge to practical scenarios through group case studies and examples.

Overall, the CECL Workshop by Shasat is meticulously crafted to equip participants with a profound comprehension of the CECL model and its far-reaching impact on financial institutions. It offers hands-on experience through group case studies and real-world examples, enabling professionals to apply their newfound knowledge in practical situations.

For professionals seeking to navigate the complex terrain of the CECL model, Shasat's Impairment Workshop is an invaluable resource for gaining expertise in this critical area of financial accounting.

For those eager to participate in this educational endeavor, here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Current Expected Credit Loss (CECL) Workshop | GID 23202 | Dallas: Dec. 11-12, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23203 | Chicago: Dec. 6-7, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23205 | Toronto: Dec. 14-15, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23206 | New York: Nov. 20-21, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23207 | Zurich: Nov. 8-9, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23208 | Singapore: Oct. 24-25, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23210 | Miami: Dec. 4-5, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23211 | San Francisco: Dec. 7-8, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23212 | Washington DC: Nov. 3-4, 2023

Current Expected Credit Loss (CECL) Workshop | GID 23200 | Online | In-House | Available on request

 For more details and to enrol in US GAAP Courses, please visit:

https://shasat.co.uk/product-category/us-gaap-courses/

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Shasat Debuts Premier US GAAS Update, Elevating Training Standards for Auditors & Accountants

In the ever-evolving world of auditing standards, professionals need to stay ahead of the curve. Shasat, a renowned educational institution, has introduced an intensive two-day program called the "US Generally Accepted Auditing Standards (US GAAS) Update Course" to address this critical need. This course is designed to cater to government and non-government auditors, accountants, and program managers, equipping them with the latest knowledge and insights into the world of auditing standards.

The US GAAS Update Course spans two days and provides participants with a deep understanding of the significant changes and clarifications within both authoritative and non-authoritative standards. This knowledge is crucial for those who engage in auditing practices. Participants will gain a comprehensive insight into applying GAAS, including SAS, SSAE, GAGAS, and IIA, as well as understanding recent amendments to these standards. Additionally, the course instills confidence in conducting audits and undergoing audit procedures.

Furthermore, the program addresses practical implementation challenges specific to both government and non-government operations. It also explores the implications of International Auditing Standards and offers a glimpse into the future direction of auditing standards.

The course caters to professionals at all levels. Whether you seek a broad overview, a thorough understanding of recent changes, or insights into less commonly understood standards, this program has you covered. Through a combination of lectures and discussions, participants will leave the course well-prepared with a contemporary grasp of auditing standards and their practical application.

Key learning objectives include gaining proficiency in applying the AICPA's Statements of Auditing Standards (SAS) and staying current with recent changes, as well as understanding the AICPA's Statements of Standards for Attestation Engagements (SSAE) and related updates. Participants will also delve into the AICPA's Statements on Quality Control Standards (SQCS) and peer review standards, among others.

Additionally, the course covers Generally Accepted Government Auditing Standards (GAGAS), the Institute of Internal Auditors' International Professional Practices Framework (IPPF), PCAOB's standards and rules, and International Auditing and Assurance Standards Board (IAASB) standards for auditing, assurance, and quality control, offering a comprehensive education in the field.

Upon completing this course, the participants will have a well-rounded understanding of the US GAAS framework and will be fully capable of implementing the latest auditing requirements in their professional practice.

Shasat has scheduled this course in various locations and dates to accommodate diverse schedules and locations. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

US GAAS Update Program | GID 3002 | Dallas:: December 7-8, 2023

US GAAS Update Program | GID 3005 | Seattle: November 27-28, 2023

US GAAS Update Program | GID 3008 | Chicago: December 12-13, 2023

US GAAS Update Program | GID 3009 | London: November 1-2, 2023

US GAAS Update Program | GID 3010 | Washington: October 30-31, 2023

US GAAS Update Program | GID 3000 | Online | In-House | Available on Request

For more details and to enrol in US GAAP Courses, please visit:

Are you looking to advance your career in accounting and auditing? Shasat is proud to offer comprehensive US GAAP and US GAAS courses both o

Professionals seeking to enhance their knowledge and expertise in auditing standards should consider enrolling in this comprehensive program. Staying current with auditing standards is not just advisable; it's imperative in today's dynamic business environment. Don't miss this opportunity to elevate your skills and stay ahead of the curve in the world of auditing.

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US GAAP Update: Are Finance Pros Truly Compliant?

In today's ever-changing financial landscape, professionals in the world of financial reporting face a constant challenge - staying up-to-date with the intricate nuances of the US Generally Accepted Accounting Principles (GAAP). Recognizing this need for continuous learning and adaptation, Shasat, a well-respected name in professional education, has unveiled an extensive two-day US GAAP update program. This initiative is designed to empower financial professionals with the essential knowledge and skills required to navigate the dynamic world of US GAAP effectively.

The US GAAP is a complex framework that frequently undergoes revisions, releases discussion papers, exposure drafts, and conducts research projects. Keeping abreast of these changes is vital, but it can be a daunting task. Shasat's new program is geared towards filling this knowledge gap and arming participants with a comprehensive understanding of the latest developments within the realm of US GAAP.

The program encompasses a wide spectrum of critical topics, including new accounting standards, insights into comments and concerns raised by the Securities and Exchange Commission (SEC), in-depth analysis of discussion papers and exposure drafts issued by the Financial Accounting Standards Board (FASB), updates from the Emerging Issues Task Force (EITF), and their ramifications on current practices. Additionally, it covers annual improvement projects, provides insights into FASB's project timeline, and sheds light on recent accounting scandals and their potential implications.

One key aspect of the program is addressing the differences between US GAAP and International Financial Reporting Standards (IFRS), which is invaluable in today's globalized business environment. By offering a thorough examination of these differences, Shasat ensures that participants are well-equipped to handle the complexities of international financial reporting.

What sets Shasat's program apart is its practical approach. It doesn't just focus on theory; it provides participants with hands-on experience through examples and group case studies. This application-oriented learning ensures that attendees can readily apply the knowledge gained to real-world scenarios in their professional roles.

To facilitate learning, participants will also receive a variety of supplementary materials, including handouts and references. These resources will prove invaluable not only during the program but also in their future endeavors.

Upon completing the US GAAP update program, financial professionals will not only have a comprehensive understanding of the latest developments in US GAAP but will also be well-prepared to integrate these updates into their day-to-day practices. This translates to better compliance with the most current standards and, more importantly, the ability to make informed decisions in financial reporting, thereby providing stakeholders with accurate and meaningful information.

Shasat understands the global reach of this program and, as such, has scheduled it at various locations across the world. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

US GAAP Update Program | GID 2001 | San Francisco: October 10-11, 2023

US GAAP Update Program | GID 2002 | Dallas: December 11-12, 2023

US GAAP Update Program | GID 2003 | Chicago: December 4-5, 2023

US GAAP Update Program | GID 2004 | Miami: December 14-15, 2023

US GAAP Update Program | GID 2007 | London: November 13-14, 2023

US GAAP Update Program | GID 2010 | Zurich: November 10-11, 2023

US GAAP Update Program | GID 2011 | Toronto: November 2-3, 2023

US GAAP Update Program | GID 2013 | Washington: November 1-2, 2023

US GAAP Update Program | GID 2000 | Online | Available on request

For more details and to enrol in US GAAP Courses, please visit:

https://shasat.co.uk/product-category/us-gaap-courses/ For those looking to enhance their expertise in US GAAP and stay ahead in the ever-evolving world of financial reporting, Shasat's US GAAP update program presents an excellent opportunity.

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Fundamentals of US GAAP: From Principles to Practice

In the dynamic world of finance and accounting, the principles that guide decision-making and reporting are continually evolving. US GAAP, as the foundational framework for financial accounting in the United States and beyond, is no exception. Regularly updating and refreshing one's knowledge of US GAAP fundamentals is essential. This ensures that professionals stay compliant with the latest standards, reflect accurate financial realities in their reports, and maintain the trust of stakeholders. In an environment marked by rapid changes in regulations and business practices, a firm grasp on the current tenets of US GAAP is indispensable for informed decision-making and organizational credibility.

In the ever-evolving realm of finance and accounting, staying abreast of the latest in US GAAP is not just a recommendation but a necessity. It's not merely about revisiting the foundational principles, but also diligently tracking amendments, new interpretations, and updated guidelines. Equally vital is the understanding of industry viewpoints which offer practical insights into how standards are applied in real-world scenarios. Moreover, recognizing and adapting to best practices in financial reporting and disclosure ensures not only compliance but also an alignment with the highest standards of transparency and accuracy. In an industry where credibility is paramount, a current, comprehensive grasp of US GAAP positions professionals and organizations alike for success, trustworthiness, and informed decision-making.

Shasat, a well-known name in the world of professional training and education, has recently introduced its latest offering, the "Mastering US GAAP: A Comprehensive 5-Day Immersion Course." This program is designed to cater to financial professionals seeking to deepen their fundamental understanding of US Generally Accepted Accounting Principles (GAAP) and its practical applications.

The Mastering US GAAP course spans five intensive days and is tailored for professionals dealing with intricate US GAAP accounting challenges on a daily basis. During this program, participants will delve into the core principles of US GAAP, explore financial statements in detail, and tackle major accounting topics, including revenue recognition, inventories, business combinations, leases, intangible assets, financial instruments, and non-financial liabilities and contingencies. Additionally, the course will provide insights into recent amendments and new standards that will become effective in 2022 and 2023, along with exposure drafts and upcoming projects.

A distinctive feature of this course is the opportunity to engage with seasoned trainers who bring real-world examples and best practices to the table. These experts will facilitate the understanding of intricate US GAAP accounting concepts. Participants will also gain access to the latest resources and tools, including the US GAAP Codification, empowering them to confidently research and implement US GAAP accounting standards in their professional roles. Upon successful completion of the program, participants will receive a certificate as a testament to their commitment to professional development.

Throughout the Mastering US GAAP course, participants will cover a wide array of topics, including understanding the classification and measurement of financial assets and liabilities under US GAAP, grasping the principles of fair value accounting and impairment testing for financial instruments, gaining insights into the accounting treatment for derivatives, including hedging activities, developing an in-depth understanding of the accounting treatment for business combinations under US GAAP, including purchase accounting, goodwill recognition and measurement, and non-controlling interests calculation, mastering the principles of consolidation accounting and the preparation of consolidated financial statements, learning about the treatment of intercompany transactions, including eliminations and adjustments for fair value, and acquiring an understanding of the principles of derecognition of financial instruments under US GAAP, including criteria for derecognition and the accounting treatment for transactions such as sales, transfers, and repurchases of financial instruments.

Shasat has thoughtfully scheduled multiple sessions of the Mastering US GAAP course across different locations and dates to accommodate the diverse needs of professionals:  Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Mastering US GAAP: A Comprehensive Immersion Course | GID 52001 | London | Nov. 27 - Dec. 1, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52002 | Dallas: Oct. 23-27, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52004 | Miami: Dec. 4-8, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52005 | New York: Nov. 13-17,  2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52006 | Seattle: Nov. 20-24, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52007 | Chicago: Oct. 9-13, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52008 | San Francisco: Dec. 11-15, 2023

Mastering US GAAP: A Comprehensive Immersion Course | GID 52000 | Online | In-House | Available on request

For more details and to enrol in US GAAP Courses, please visit:

https://shasat.co.uk/product-category/us-gaap-courses/

Financial professionals looking to enhance their proficiency in US GAAP are encouraged to enroll in this comprehensive course. Shasat anticipates a strong response from professionals eager to strengthen their skills in navigating the intricate landscape of US GAAP accounting. This program promises to be an invaluable learning experience that will empower participants to excel in their financial roles.

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Special Purpose Acquisition Companies (SPAC) - Structuring, Accounting, and Risk Management

Special Purpose Acquisition Companies (SPACs) have emerged as a noteworthy alternative to traditional initial public offerings (IPOs) in recent years, providing a unique avenue for companies to access public markets. While the allure of SPACs continues to grow, they are not without their complexities. Gaining a transactional understanding of SPACs is just the tip of the iceberg. Professionals venturing into this arena also face intricate accounting challenges, especially when navigating the divergent landscapes of US GAAP and IFRS. Beyond accounting, there's a plethora of risk management issues to be addressed, ranging from regulatory concerns to market uncertainties. As SPACs continue to gain traction, a holistic understanding of these critical aspects becomes imperative for stakeholders.

Shasat, a prominent name in the financial education sphere, has recently unveiled a comprehensive two-day course that promises to be a game-changer for financial professionals, accountants, legal experts, and all those vested in the world of finance. The course, titled "Special Purpose Acquisition Companies (SPACs) Accounting & Structuring: Mastering US GAAP and IFRS," is set to become a cornerstone in understanding the intricate world of SPACs, their structures, and the accounting principles governing them under US GAAP and IFRS.

SPACs, or Special Purpose Acquisition Companies, have garnered considerable attention as an alternative to the traditional Initial Public Offerings (IPOs) in recent years. Shasat's new program is tailor-made to provide a profound understanding of SPACs, their inner workings, and the regulatory framework that surrounds them. The course aims to equip participants with the knowledge and skills to navigate the complex landscape of SPAC transactions confidently.

What sets this course apart is the expertise of its instructors. Shasat has assembled a team of seasoned professionals who will guide participants through the essential aspects of SPACs, covering everything from the key players in SPAC transactions to the capital-raising process and the various stages involved.

Participants will delve into the diverse landscape of SPACs, exploring the different types available, their unique features, and the associated risks and benefits of investing in them. This comprehensive understanding of SPACs sets the stage for in-depth exploration of the accounting and financial reporting requirements specific to SPAC transactions under both US GAAP and IFRS.

The program will not merely scratch the surface of accounting treatment for SPACs; it will delve deep into financial statement preparation, disclosure requirements, and the intricacies of regulatory compliance. Participants will emerge with a thorough grasp of how SPAC transactions are accounted for, setting them apart in their professional careers.

One of the most critical components of SPAC transactions is the structuring of equity instruments. Shasat's course will provide participants with an in-depth understanding of the various equity instruments utilized in SPAC transactions, including common stock, warrants, and rights.

This knowledge will be invaluable as participants explore the associated risks, legal considerations, pricing strategies, and allocation techniques for these instruments. In essence, by the end of the course, participants will have a practical understanding of equity instruments used in SPAC transactions and the crucial considerations involved in their structuring.

The benefits of this program extend far beyond theoretical knowledge. Upon completing the course, participants will have a practical, hands-on understanding of the essential elements of SPACs, their structures, accounting intricacies, and the regulatory requirements associated with them under both US GAAP and IFRS. Armed with this knowledge, they will be prepared to navigate the often complex world of SPAC transactions with confidence and clarity.

Shasat's commitment to providing a comprehensive learning experience is clearly reflected in the key learning features offered by the course. Participants can expect to develop a deep understanding of Special Purpose Acquisition Companies (SPACs) and their significance within the financial market. They will also acquire knowledge of various structuring techniques commonly employed in SPAC transactions, along with a thorough understanding of the regulatory requirements and disclosure considerations associated with these transactions.

Moreover, participants will master the intricacies of accounting for SPAC transactions under both US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). This includes the preparation of financial statements and pro forma financial statements. The course also delves into the role of auditors in SPAC transactions and provides insights into audit requirements.

To enhance the practical application of this knowledge, participants will gain valuable insights from industry experts and practitioners. They will actively engage in interactive case studies and group discussions to apply their newly acquired skills. Additionally, the course offers an opportunity to build a network of peers and industry professionals specializing in the SPAC domain, further enriching the learning experience.

The program is being conducted at various locations, making it accessible to a global audience. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules. 

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53001 | Chicago: Dec. 6-7, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53002 | Miami: Dec. 20-2,1 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53003 | New York: Dec. 14-15, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53004 | London: Nov. 9-10, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53005 | Singapore | Oct. 20-21, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53006 | San Francisco: Oct. 12-13, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | Zurich: Nov. 13-14, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53008 | GID 53007 | Toronto: Oct. 27-28, 2023

SPAC Accounting & Structuring: Mastering US GAAP and IFRS | GID 53000 | Online | In-House | Available on Request

For more details and to enrol in US GAAP Courses, please visit:

https://shasat.co.uk/product-category/us-gaap-courses/

Shasat's launch of the SPAC Accounting & Structuring course is a significant step forward in the world of financial education. This program promises to empower professionals with the knowledge and skills needed to excel in the dynamic and rapidly evolving landscape of SPAC transactions. For those looking to stay ahead in the financial industry, this course is a must-consider opportunity.

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Shasat Debuts IFRS Course Tailored for Energy & Mining Industries

In a bid to address the complex accounting requirements specific to the Oil & Gas, Power, Utility, and Mining industries, Shasat, a leading education provider, has unveiled a comprehensive two-day program on International Financial Reporting Standards (IFRS). This specialized course aims to equip professionals with the knowledge and skills necessary to navigate the intricacies of financial reporting within these sectors.

The Oil and Gas industry, integral to global economies, grapples with challenges like high capital costs, long project lead times, and substantial environmental impact. Shasat's program recognizes the importance of understanding how to evaluate commercial viability, technical feasibility, and mitigating environmental concerns within this industry.

Similarly, the mining sector, with its substantial capital investments and intricate processes, faces environmental challenges and geopolitical risks. The utility industry, providing essential services like electricity, natural gas, and water, is continually adapting to changing consumer demands and sustainability goals.

To effectively address the unique accounting demands of these industries, Shasat's program delves into critical IFRS standards such as IFRS 6 for Exploration and Evaluation of Mineral Resources, IAS 23 for Borrowing Costs, IFRS 15 for Revenue Recognition, IFRS 16 for Leases, IFRS 9 for Financial Instruments, and more. These standards play a pivotal role in ensuring accurate and transparent financial reporting, benefiting stakeholders across the Oil & Gas, Power, Utility, and Mining sectors.

The Upstream, Mid-Stream, and Down-Stream industries within the Oil & Gas sector face distinctive accounting challenges. From reserves and resources to revenue recognition and disclosure of reserves, Shasat's program covers a wide range of accounting topics tailored to industry-specific needs. The course ensures that professionals in these sectors are well-equipped to handle complex financial matters, including production-sharing agreements and concessions.

Shasat's two-day program is designed for professionals working in the Oil & Gas, Power, Utility, and Mining industries, including auditors and consultants. By participating, attendees will gain valuable insights into the latest accounting issues, challenges, and best practices. Furthermore, the program offers networking opportunities with industry experts and peers, fostering a collaborative learning environment.

Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16001 | London: Oct. 17-18, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16003 | Abu Dhabi: Dec. 18-19, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16004 | Kuala Lumpur: Dec. 13-14, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16009 | Zurich: Oct. 23-24, 2023 

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16010 | Singapore: Dec. 15-16, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16012 | New York City: Oct. 4-5, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16013 | Toronto: Nov. 1-2, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16014 | Sydney: Nov. 22-23, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16015 | Dubai: Nov.r 14-15, 2023

IFRS Training for Oil & Gas, Power, Utility, & Mining Companies | GID 16000 | Online | Available on Request

For more details and to enrol in Mastering IFRS for Oil & Gas, Power, Utility, and Mining Industries, please visit:

https://shasat.co.uk/product-category/mastering-ifrs-for-oil-gas-power-utility-and-mining-industries-2-days/

By enrolling in Shasat's IFRS course, participants will enhance their accounting skills, improve their understanding of industry-specific financial reporting requirements, and elevate their careers to new heights. Don't miss this opportunity to stay ahead in the dynamic world of financial reporting within the Oil & Gas, Power, Utility, and Mining sectors.

Shasat looks forward to welcoming professionals eager to enhance their expertise in IFRS for these essential industries.

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Decoding the IPSAS Landscape: A Public Sector Financial Exploration

In a significant move towards promoting transparency and consistency in public sector financial reporting, Shasat, a leading educational institution, has announced the launch of its highly anticipated "Public Sector Accounting Immersion Workshop." This intensive three-day course is tailored to equip professionals with a comprehensive understanding of accrual accounting, cash basis accounting, and international public sector accounting standards.

The workshop aims to address the increasing demand for professionals skilled in public sector financial management and reporting. Participants will delve into key principles and requirements of accrual accounting, drawing from the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), as well as public sector-specific accounting issues.

Shasat's immersive program will focus on honing skills in recognizing, measuring, presenting, and disclosing transactions and events in the general-purpose financial statements of public sector entities. This preparation ensures that participants are well-equipped to manage and report on public finances in a transparent and globally comparable manner.

One noteworthy aspect of the course is its coverage of the International Public Sector Accounting Standards (IPSAS), including IPSAS 41 Financial Instruments and IPSAS 43 Leases. The former, effective from January 1, 2023, introduces a classification and measurement model for financial assets, an expected credit loss model for impairment testing, and a broadened scope for hedge accounting. The latter, set to replace IPSAS 13 Leases from January 1, 2025, introduces a right-of-use model for lessees and carries forward the risks and rewards incidental to the ownership model for lessors.

Shasat's program will also address IPSAS 42 Social Benefits, effective from January 1, 2022, and provide participants with the tools to promote awareness, understanding, and effective implementation of this standard.

The course couldn't come at a more crucial time, as governments and public sector organizations worldwide face a growing call for transparent and consistent financial reporting. The adoption of accrual accounting practices is on the rise, with international organizations leading the way. By participating in Shasat's workshop, professionals will join a community at the forefront of this movement toward better public sector financial management and reporting.

Key learning features of the course include gaining a thorough understanding of public sector accounting standards, practical applications of accrual and cash basis accounting, and comprehensive knowledge of financial reporting, including recognition, measurement, presentation, and disclosure requirements for public sector entities. Participants will also explore real-world case studies, engage in interactive discussions with expert trainers and fellow participants, and gain practical skills in preparing and analyzing financial statements, as well as conducting audits of public sector entities.

Shasat's "Public Sector Accounting Immersion Workshop" offers an opportunity for professionals to stay ahead of the curve in public sector accounting. It promises to provide the necessary tools and knowledge for success in this field and contribute to the broader goal of enhancing transparency and accountability in public sector financial reporting.

Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

Public Sector Accounting Immersion Workshop | GID 22002 | Brussels: Oct. 17-19, 2023

Public Sector Accounting Immersion Workshop | GID 22003 | Abu Dhabi: Nov. 27-29, 2023

Public Sector Accounting Immersion Workshop | GID 22004 | Washington: Nov. 6-8, 2023

Public Sector Accounting Immersion Workshop | GID 22005 | Accra: Nov. 28-30, 2023

Public Sector Accounting Immersion Workshop | GID 22007 | Singapore: Dec. 19-21, 2023

Public Sector Accounting Immersion Workshop | GID 22009 | Geneva: Oct.r 30 - Nov. 1, 2023

Public Sector Accounting Immersion Workshop | GID 22010 | Montreal: Nov. 22-24, 2023

Public Sector Accounting Immersion Workshop | GID 22000 | Online | Available Upon Request

For more details and to enrol in the IPSAS Training Courses in collaboration with PwC, please visit:

https://shasat.co.uk/product-category/public-sector-accounting-immersion-workshop-3-days-with-pwc/

For professionals seeking to excel in public sector accounting and make a meaningful impact on their organizations, this immersive learning experience is a must-attend event. Shasat looks forward to engaging with participants and fostering their growth in the realm of public sector financial management and reporting.

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IPSAS 41: Public Sector's Toughest Challenge in Financial Reporting

Shasat, a renowned name in the field of professional training and development, has recently unveiled an extensive workshop designed to navigate the intricacies of IPSAS 41. Titled "IPSAS 41 Workshop: Classification, Measurement, Impairment, and Hedge Accounting," this program is set to make waves in the world of financial reporting.

IPSAS 41 Financial Instruments, which came into effect for annual reporting periods commencing on or after January 1, 2023, marks a significant departure from its predecessor, IPSAS 29 Financial Instruments: Recognition and Measurement. The new standard introduces a classification and measurement model for financial assets, an expected credit loss model for impairment testing, and a more comprehensive hedge accounting model.

This change is expected to have a profound impact on public sector entities, given the increasing integration of finance-related functions. The primary shake-up comes from alterations to the Impairment Methodology, making it crucial for organizations to equip themselves with the necessary knowledge and strategic insights to navigate these changes successfully.

The IPSAS 41 workshop offers participants an opportunity to benefit from the expertise of seasoned instructors who will provide valuable insights into the development and direction of IPSAS 41. The program will highlight key differences between previous and revised approaches and address emerging challenges faced by the industry.

Additionally, instructors will guide participants through the implementation roadmap of these critical accounting standards, shedding light on their implications for businesses.

The workshop encompasses a wide array of key learning features, including understanding the amortized cost criteria for financial instruments, applying the Business Model test and SPPI criteria to existing portfolios, and knowing when to utilize fair value through the Surplus/Deficiency category. Participants will also gain insights into accounting for unquoted equity instruments and hybrid instruments, managing Own Credit Risk, addressing accounting mismatches, and understanding the classification and measurement of financial instruments.

Furthermore, the workshop delves into the difference between the incurred loss and expected credit loss models for impairment, the application of the new expected credit loss model, and assessing its impact on impairment allowances. It also covers the application of the expected credit loss model to trade receivables, financial guarantees, and revolving credit facilities. Participants will learn about hedge engineering, compliance with hedge accounting documentation requirements, designing and testing hedge effectiveness, identifying 'hidden' derivatives, and when to separate hybrid instruments.

For those interested, the workshop offers various dates and locations, ensuring accessibility to a global audience.  Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IPSAS 41 Financial Instruments Workshop | GID 220052 |  Brussels: October 16, 2023

IPSAS 41 Financial Instruments Workshop | GID 220053 | Abu Dhabi: November 30, 2023

IPSAS 41 Financial Instruments Workshop | GID 220054 | Washington: November 3, 2023

IPSAS 41 Financial Instruments Workshop | GID 220055 | Accra:1 December 1, 2023

IPSAS 41 Financial Instruments Workshop | GID 220057 | Singapore: December 22, 2023

IPSAS 41 Financial Instruments Workshop | GID 220059 | Geneva: November 1, 2023

IPSAS 41 Financial Instruments Workshop | GID 220060 | Montreal: November 21, 2023

IPSAS 41 Financial Instruments Workshop | GID 220050 | Online | Available on Request

For more details and to enrol in the IPSAS Training Courses in collaboration with PwC, please visit:

https://shasat.co.uk/product-category/public-sector-accounting-immersion-workshop-3-days-with-pwc/

Shasat's commitment to professional excellence shines through with the introduction of this workshop. It presents a unique opportunity for finance professionals and public sector entities to navigate the complex landscape of IPSAS 41. In an era of rapidly evolving global financial reporting standards, the IPSAS 41 Workshop promises to equip participants with the knowledge and tools necessary to meet challenges head-on and thrive in this dynamic environment. Don't miss this chance to stay ahead of the curve in financial reporting standards.

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IFRS 17 Implementation Challenges in the Insurance Industry

In anticipation of the seismic shift set to hit the insurance industry, a comprehensive training program has been unveiled to assist professionals in grappling with the intricacies of International Financial Reporting Standard 17 (IFRS 17) implementation. Effective January 1, 2023, insurance companies worldwide are mandated to align their financial statements with IFRS 17, introducing a transformative wave of changes that demand precision and expertise.

The IFRS 17 Training Program offers a lifeline to insurance firms as they navigate the challenging landscape of compliance. While the deadline looms, many companies are still finding themselves entangled in the intricate web of unresolved accounting and actuarial issues. IFRS 17 has significantly elevated the role of actuarial teams within the industry. Their input is now indispensable for ensuring the technical correctness and clarity mandated by the accounting standard.

One of the most profound shifts introduced by IFRS 17 is the requirement for actuaries to implement a new valuation basis. This necessitates extensive changes to actuarial models, data, methodologies, and contract boundaries. Moreover, areas that were previously not under the purview of actuaries, such as the calculation of revenue and the Contractual Service Margin (CSM), now rely heavily on probability-based assessments. This underscores the imperative for closer coordination between actuarial and finance teams in the insurance companies.

Unlike other accounting standards applied in the past, IFRS 17 Insurance Contracts necessitates a paradigm shift in terms of collaboration between accountants and actuaries. In response to this transformation, the IFRS 17 Training Program has been meticulously crafted to cater specifically to the actuarial aspects of the new standard. It provides essential context and detailed treatment of active and passive reinsurance, ensuring that actuarial teams are equipped to tackle the unique challenges posed by IFRS 17.

Implementing IFRS 17 is a monumental challenge for both insurers and investors alike. It represents a fundamental alteration of accounting and reporting practices within the industry. The course offered is designed to empower actuaries with a clear roadmap for implementing IFRS 17 and the requisite modifications and redesigns to the actuarial model.

This comprehensive two-day workshop is not merely theoretical, but offers practical insights through detailed work examples and case studies. It covers a vast spectrum of topics, including the Building Blocks Approach (BBA), Premium Allocation Approach (PAA), Variable Fees Approach (VFA) under IFRS 17, and the impact of the standard on actuarial modelling and risk adjustment. Attendees will gain critical knowledge about calculating the Contractual Service Margin (CSM), risk adjustment, illiquidity of cash flows on discount rates, and the impact of IFRS 17 on various contracts.

Moreover, the course delves into the financial reporting requirements for insurers and identifies common pitfalls to avoid during implementation. It also addresses the crucial issue of presenting insurance contracts and offers insights into the drivers of income statement volatility and insurance liabilities. By the end of the program, participants will have enhanced their processes and controls for insurance contracts and related liabilities.

The IFRS 17 Training Program is tailored to provide a comprehensive understanding of IFRS 17 and its profound impact on accounting and actuarial work in the insurance industry. It equips professionals with the tools to identify challenges, implement the best solutions, and comply with the new accounting standard.  Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

IFRS 17 Implementation Workshop | GID 9001 | Zurich: November 2-3, 2023

IFRS 17 Implementation Workshop | GID 9002 | London: November 16-17, 2023

IFRS 17 Implementation Workshop | GID 9003 | Hong Kong: October 5-6, 2023

IFRS 17 Implementation Workshop | GID 9005 | Bermuda: November 13-14, 2023

IFRS 17 Implementation Workshop | GID 9007 | Atlanta: November 6-7, 2023

IFRS 17 Implementation Workshop | GID 9012 | Dubai: October 8-9, 2023

IFRS 17 Implementation Workshop | GID 9013 | Frankfurt: November 9-10, 2023

IFRS 17 Implementation Workshop | GID 9015 | Toronto: October 12-13, 2023

IFRS 17 Implementation Workshop | GID 9016 | Sydney: September 28-29, 2023

IFRS 17 Implementation Workshop | GID 9017 | Cape Town: December 1-2, 2023 

IFRS 17 Implementation Workshop | GID 9011 | Tokyo: October 2-3, 2023

IFRS 17 Implementation Workshop | GID 9010 | Seoul: December 7-8, 2023

IFRS 17 Implementation Workshop | GID 9000 | Online: (Available on request)

For more details and to enrol in the IFRS 17 Implementation Workshop, please visit:

https://shasat.co.uk/product-category/ifrs-17-implementation-accounting-actuarial-challenges/

This program offers an opportunity to embark on a transformative journey into the realm of IFRS 17 implementation and the dynamic world of insurance accounting. Join professionals from around the world and equip yourself with the knowledge and skills needed to navigate the evolving landscape of the insurance industry.

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CFO Masterclass: Elevating Financial experts into Strategic Leaders

Traditionally regarded as guardians of financial health, financial leaders have evolved into indispensable architects of organizational success. In today's rapidly changing business landscape, they are expected to go beyond transactional efficiency and cost control, taking on a more strategic and value-added role within their organizations.

In a move poised to redefine financial leadership, Shasat, a leading authority in professional education, has introduced its latest offering: the "CFO Masterclass". This intensive 5-day program aims to equip finance leaders with advanced management and strategic leadership capabilities. Beyond traditional financial oversight, the course endeavors to transform CFOs into catalysts for organizational change and strategic alignment. With the ever-evolving financial landscape, such programs underscore the importance of continuous learning and adaptability for today's top finance professionals.

The CFO Masterclass program is tailored to facilitate this transformation. It equips participants with the essential tools to develop a strategic leadership mindset, forge partnerships across various functions, and establish a robust financial control infrastructure that harmonizes with the organization's goals. The program adopts an interactive approach, incorporating practical case studies, discussions, and simulations to enable participants to apply their learning in real-world scenarios.

Shasat invites finance leaders and professionals to embark on this transformative journey, poised to elevate their leadership skills to new heights. By enrolling in the CFO Masterclass, participants will take the initial step towards effecting change and realizing their organization's strategic vision.

The CFO Masterclass program offers a diverse range of learning experiences. Participants will develop their strategic leadership skills, equipping them to drive organizational success effectively. They will also learn to foster a unified strategic understanding across various functions within the organization. Delving into the nuances of International Financial Reporting Standards (IFRS) and its significance in finance is a key component of the program. Additionally, participants will explore the "Five Ps" of Management and Financial Strategies, gaining insights into effective management and financial practices.

The program also focuses on sharing strategic leadership responsibilities, teaching participants how to collaborate effectively with the CEO in this regard. Strategic planning, negotiation, and conflict resolution are explored in detail, providing participants with a deep understanding of these critical aspects of leadership. The curriculum further covers motivation, technology utilization, and change management, offering valuable insights into these essential topics.

Participants will gain insights into identifying and transforming their leadership style through real-world case studies. They will also learn how to introduce a culture of reward and continuous learning within their organizations, fostering a dynamic and motivated workforce. Finally, the program equips participants with strategies for driving and managing change, as well as fostering innovation within their organizations.

Shasat's CFO Masterclass program is set to be held at various global locations, catering to the needs of finance leaders worldwide. Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

CFO Masterclass | GID 33509 | Zurich: December 18-22, 2023

CFO Masterclass | GID 33510 | Cape Town: December 4-8, 2023

CFO Masterclass | GID 33505 | Dubai: October 8-12, 2023

CFO Masterclass | GID 33501 | London: October 8-12, 2023

CFO Masterclass | GID 33503 | New York: November 20-23, 2023

CFO Masterclass | GID 33502 | Sydney: December 18-22, 2023

CFO Masterclass | GID 33506 | Toronto: November 6-10, 2023

CFO Masterclass | GID 33500 | Online | Available on request

For more details and to enrol in the CFO Masterclass, please visit:

https://shasat.co.uk/product-category/cfo-masterclass-financial-leadership-and-strategic-understanding-5-days/

Finance leaders and professionals seeking to elevate their careers and contribute significantly to their organizations are encouraged to seize this opportunity. Shasat's CFO Masterclass promises to be a transformative experience that will equip participants with the skills and insights needed to thrive in today's dynamic business environment.