In This Era of Globalisation and Liberalisation, the World Has Become a Village, Particularly

DELHI MANAGEMENT ASSOCIATION In association with

All India Management Association

P R E S E N T S

One Day Interactive

WORKSHOP ON

International Financial Reporting Standards

(Effective from April 2011)

February 24, 2010,

India Habitat Centre, Lodhi Road, New Delhi

Introduction :

In this era of globalisation and liberalisation, the world has become a village, particularly on economic front. It is now imperative to have a globally accepted financial reporting system. The IFRS issued by the International Accounting Standards Board has become widely accepted as the global reporting standards as it works towards removing some of the subjectivity from financial reporting and provides a consistent basis for recognition, measurement, presentation and disclosure of transactions and events in financial statements.

More than 100 countries currently require or permit the use of IFRS. India will also move onto IFRS with the Institute of Chartered Accountants of India (ICAI) having decided to fully converge with IFRS from April 1, 2011. Because of requirement for comparatives, the April 1, 2011 deadlines will actually be effective from April 1, 2010. The basic requirement of implementation of IFRS is - opening balances at the commencement of the relevant accounting years must meet the recognition and measurement criteria laid down in IFRS. That is, the transition date is one year ahead for all practical purposes. So, time is running out! Many people are laid back expecting convergence to get stuck with regulators or tax authorities or political agencies. But this means taking chances on this at your own risk. Canada was in the same complacency boat until it was rocked by the stock exchange announcing a mandatory disclosure on how companies are planning to handle the convergence.

IFRS is applicable to listed companies; banks, insurance companies, and financial institutions; and holding or subsidiary of the above

Programme Objective:

The main objective of the workshop is to provide an introduction to the participants about recognition and measurement criteria of the elements of the financial statements as per IFRS with special emphasis on the steps required for transition from the national Accounting Standard to IFRS.

Programme Contents:

·  Genesis of IASB & Conceptual Framework for the Preparation and Presentation of Financial Statements.

·  Presentation of Financial Statements (IAS 1)

·  Accounting Policies, changes in Accounting Estimates and Errors (IAS 8) Financial Instruments: Disclosure & Presentation (IAS32)

·  Key Differences between IGAAP & IFRS

Programme Faculty:

Mr. K.A.Balasubramanian

Mr.K.A. Balasubramanian is a Senior Partner in Khanna & Annadhanam .He is Fellow Member of the Institute of Chartered Accountants of England and Wales and also Institute of Chartered Accountants of India since 1975. He has extensive experience in the audit of large public sector undertakings, nationalised banks, construction, manufacturing, trading, finance and service Companies. He has also been involved in various company investigations for foreign clients entering into tie-ups in India besides assisting in the formation of Joint Venture Companies in India. He also has vast experience and expertise in providing complete consultancy services including drafting of various Joint Venture Agreements, rendering of expert advice on taxation of foreign nationals, foreign companies and joint ventures, preparation and filing of application to Reserve Bank of India and Government for approval of collaborations and designing of accounting and management information system.

Rachna Jaggi

Rachna is a partner in DMRJ & Co. She is FCA ,CPA(US) & holds expertise in IFRS & US GAAP. She has over 14 years of rich experience in the field of Auditing Accounting & training. Before joining the professional practice, Rachna has worked with PriceWaterhouse, Spicegroup, & Khanna & Annadhanam. Rachna has been conducting corporate training, seminars & workshops in IFRS for Senior Management Professionals .

Jatinder

Jatinder is Sr. Consultant in DMRJ & Co. He is B.Sc (Hons) in Applied Accountancy from Oxford Brookes University, London, UK and a member of ACCA (Association of Chartered Certified Accountants, UK). He holds expertise in the field of IFRS, SARBANES OXLEY, XBRL, Combined Code, Corporate Governance Norms ACCA UK. He has worked with Hindustan Lever Ltd &Grand Thornton and has trained CA programme students in IFRS in UK. Jatinder has delivered a number of training programmes on IFRS for Senior Corporate Officials and also involved in various convergence case studies.

Key Takeaways:

·  Comply with IFRS requirements relating to presentation and disclosures

·  Understand the IFRS recognition and measurement rules for assets, liabilities, revenues, expenses, gains and losses

·  Understand IFRS financial statement requirements, including accounting policies and disclosures

·  Minimize the learning curve for new GAAP by capitalizing on existing knowledge

·  Understand the major technical differences between Indian GAAP, and IFRS requirements

·  Plan ahead for the implementation of new convergence-related standard

·  Determine the system modifications and other changes that will be required in order to implement IFRS

Who would benefit from the programme:

The workshop is specially designed for CFOs, Auditors, Financial Analysts, Chartered Accountants, Senior Managers and other Accounting Professionals and finance professionals involved directly or indirectly in preparing financial statements.

Administrative Details:

·  Date February 24, 2009 (Wednesday)

·  Registration 09.30 a.m.

·  Programme timing 10.00 a.m. to 05.00 p.m.

·  Venue India Habitat Centre, Lodi Road, New Delhi

Participation Fee Per Participant:

Category For One orTwo For Three and More

AIMA-DMA Members Rs 3500/- Rs 3000/-

Non Members Rs 4000/- Rs 3500/-

Academicians/ Students Rs 2500/-

Fee covers tuition fee, cost of luncheon, refreshments, reading material and organisational expenses. Nomination fee is non-refundable. However, participation by a substitute is allowed. Workshop is non-residential. Demand Draft and Cheques are to be made in favour of “Delhi Management Association” Payable at “New Delhi”.

Please send your registration form alongwith participation fee to:

Mr Rajan Pandhi, Deputy Director , 9810877615(M)
Delhi Management Association, India Habitat Centre

Core 6A, 1st Floor, Lodi Road, New Delhi - 110 003
Phone: 24629555 (D), 24649552 Telefax: 24649553

Email: or

Registration Form

DELHI MANAGEMENT ASSOCIATION

One Day Interactive

WORKSHOP ON

International Financial Reporting Standards

February 24, 2010,

India Habitat Centre, Lodhi Road, New Delhi

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Notes :

The IFRS issued by the International Accounting Standards Board has become widely accepted as the global reporting standards as it works towards removing some of the subjectivity from financial reporting and provides a consistent basis for recognition, measurement, presentation and disclosure of transactions and events in financial statements.

More than 100 countries currently requires or permits the use of IFRS. India will also move onto IFRS with the Institute of Chartered Accountants of India (ICAI) having decided to fully converge with IFRS from April 1, 2011. Because of requirement for comparatives, the April 1, 2011 deadlines will actually be effective from April 1, 2010.

IFRS is applicable to listed companies; banks, insurance companies, and financial institutions; and holding or subsidiary of the above

Framework

The framework states that the objective of financial statements is to provide information about the financial position, performance and changes in the financial position of an entity that is useful to a wide range of users in making economic decisions.

This will have a positive impact on industry, as convergence of accounting standards will have the effect of attracting investment through greater transparency and a lower cost of capital for potential investors.