PRACTICAL ASPECTS OF TRANSITION INTO IFRS AND GAAP (US GAAP)
London, UK


For participants of IFRS programmes, there is an additional conclusive ACCA (the Association of Chartered Certified Accountants) examination seminar in International Finance Reporting (IFR). The seminar and exam are designed especially for Russian speaking accountancy specialists and with successful completion and passing you will gain the worldwide recognised ACCA awarded qualification.

PROGRAMME

“The process of unification of accountancy standards is directly related to fundamental changes in world economy, resulting from increased international integration and internationalisation of economic activity".

The increased risks associated with investment in Russia, mean that adopting international standards in accountancy and financial reporting is a key step in attracting foreign investors and providing them with some peace of mind and reassurance of the minimised investment risks your company has to offer”

The seminar's practical approach to the subject means that the programme consists not just of taught seminars, hosted by leading experts, but also interactive sessions, presentations, field visits, and individual or group consultations. All participants are provided with seminar materials on arrival, which are supplemented throughout the seminar, as all areas of training are covered to ensure full benefit to you. Acquired knowledge and information will help participants to broaden and deepen their understanding of their field and the seminar practical approach aims to demonstrate how it can effectively be implemented into their work.

The seminar is aimed at financial directors and chief accountants, financial analysts, as well as managerial level aiming to grow or broaden their knowledge. The seminar's structure also involves a series of business games and round tables, altogether assuming approximately 30hours of active work.

The programme is organised alongside specialists from international organisations involved in financial planning, accounting and auditing.

AIM

In the words of one of Morgan Stanley's key analysts, foreign investors will not be 'seriously ready to come to the Russian market until sufficient improvements in corporate transparency' are made. This transition to international practices of accountancy essentially facilitates mutual relations with foreign investors and promotes growth of equality in cooperating international projects.

MAIN TOPICS

• Requirements for consolidated reporting under IFRS
• Financial instruments and evaluation in the credit crisis
• New additions to the standards - IFRS3 and IFRS8
• Transition from National Accounting Standards (NASs) to IFRS
• Key stages and methods of transition of financial reporting
• Prerequisites for the automation of Cash Flow Statements
• Financial reporting
• Mergers
• Financial instruments
• Management and financial accounting: their relationship and mutual influence
• Role of IFRS in business valuation – comparative method
• Corporate governance and its impact on the development of accounting standards
• Investors view point on financial reporting standards
• IFRS within the context of managing company value

PARTICIPANTS

During the seminar participants can receive individual or group consultations, as well as practical advice based on the following questions:

• Financial organisation of investment projects, including the participation of international financial organisations, such, as the European Bank of Reconstruction and Development (European Reconstruction and Development Bank), International Financial Corporation (IFC), Agencies of Export Crediting, etc. and other commercial sources;
• Preparation of company feasibility reports and business plans so that they correspond with creditor requirements
• Identifying potential western investors and strategic partners
• Planning and transition of companies and commercial banks to IFRS and GAAP