HKFRS 9 - Financial instruments - Workshop 2020

Overview

One of the most notable developments in the financial world in recent years has been the introduction of several new and innovative financial instruments into the world’s financial market. The workshop aims to provide you with a detailed overview of financial instruments under HKFRS 9 Financial Instruments and highlight the classification and measurement of financial assets and financial liabilities.

Key topics covered:

• Recognition of financial assets and financial liabilities
• Classification of financial assets
  - Business model test
  - Contractual cash flows test
• Classification of financial liabilities
• Initial and subsequent measurement of financial assets and financial liabilities.
• Reclassification of financial assets
• Impairment and expected credit losses of financial assets
• Additional disclosure requirements under HKFRS 9

Trainer profile:

Kamsuo Wong MA, LLM, MBA, FCPA (Aust.)

With three Master’s degrees under his belt, Kamsuo Wong, a candidate for a Doctorate degree of Education, is highly regarded as a multi-faceted academic backed by over fifteen years of extensive professional experience in accounting. He is a professional accountant in Hong Kong, United Kingdom and Australia and the member of Hong Kong Institute of Certified Public Accountants (CPA), Chartered Institute of Public Finance and Accountancy (CPFA), and CPA Australia (FCPA). He is also the Expert Council Advisor of International Financial Management Association. He is currently the Assistant Professor of Centennial College (an independent College established by University of Hong Kong), Adjunct Lecturer at a number of universities and tertiary education institutions.

Objectives

• Describe the background to the development of accounting standards on financial instruments
• Outline and apply the definition of financial assets and financial liabilities
• Determine the classification of financial assets and financial liabilities
• Determine the classification of revenues and expenses arising from financial instruments
• Apply the recognition criteria for financial assets
• Identify recognition and measurement criteria for financial assets and financial liabilities
• Accounting for compound financial instrument
• Understand the scope, principles and accounting treatment for impairment and expected credit losses of financial assets
• Accounting for modification of financial instrument
• Determine the derecognition of financial assets and financial liabilities

Audience

This workshop is suitable for finance professionals who are involved in external reporting, financial management, financial accounting or auditing. Other users of financial information will also find the workshop beneficial.