kpmg in belgiumThe changingworld of IFRS How can kpmg’s expertise help yousucceed in adapting to the changing world of financial reporting? kpmg.be
iFRS standards are continuously evolving. As new standards are released, old standards are adapted and new interpretations made. This makes it crucial for organizations to stay up-to-date on the latest developments. The iASb has been working on a number of projects, including revenue recognition, leases, joint ventures, presentation of financial statements, consolidation, liabilities, emission trading schemes, impairment of financial instruments and hedge accounting. This has resulted in new, or amended standards and interpretations as well as many exposure drafts. most of these are expected to become effective for annual periods starting on or after January 1, 2012 or January 1, 2013. This may seem far in the future, but one of the fundamental principles of iFRS is adopting many of its requirements retroactively, including restated comparative figures. moreover, the amended iAS 1 presentation of Financial Statements requires a comparative statement of financial position from the beginning of the earliest comparative period, whenever an entity applies an accounting policy retroactively. This is reason enough to start preparing for the upcoming changes now, since it can be very difficult to collect all the necessary data at the time the new standards become effective. Adapting systems to allow for data collection can also be time consuming. The sooner entities start the process, the more time they will have to find andresolve any problems.
The purpose of the iFRS institute is to offer you clear direction and anexplanation of the game’s new rules, as well as the impact of the latestdevelopments and the upcoming changes. To that end, kpmg’s iFRS institute CoRe iFRSin belgium organizes a wide range of iFRS training sessions that are designedto meet your needs and concerns. All our training sessions are practical: moduleSthey include case studies and are led by kpmg experts with many years of The core iFRS training offers you insight to nearly all the iFRS standards andhands-on experience with the application of iFRS. All at competitive prices, interpretations that are currently applicable for preparing financial statementsyou can choose from among the following types of courses: and any upcoming changes to those standards. The material has been grouped in various half- and full-day modules. This allows you to pick and choose the most relevant topics for your business. CoRe iFRS please find below an overview of the available Core iFRS modules and moduleS updATe training dates: Basic principles of IFRS Tues. may 3, 2011 09.30-12.30 induSTRy - SpeCiFiC CompAny - TAiloRed iFRS woRkSHopS ‘in - HouSe’ Revenue Recognition Tues. may 3, 2011 14.00-17.00 iFRS woRkSHopS Asset recognition & measurement Thur. may 5, 2011 09.30-17.00 Leasing Tues. may 10, 2011 09.30-12.30 Provisions and employee benefits Tues. may 10, 2011 14.00-17.00 Financial instruments for corporates Thur. may 12, 2011 09.30-17.00 IFRS for groups – accounting issues Tues. may 17 2011 , 09.30-17.00 IFRS for groups – disclosures Thur. may 19, 2011 09.30-12.30 Income taxes Thur. may 19, 2011 14.00-17.00 Differences between IFRS and US Tues. may 31, 2011 09.30-17.00 GAAP For more details on the topics covered in each of the modules, please visit www.kpmg.be > kpmg’s iFRS institute banner. • Fee: price per participant: euR 300 per half day - euR 500 per full day The sessions include training material, case studies and lunch during the full days • Location: • Language: At a kpmg facility near brussels The training sessions will be conducted in english
induSTRy-SpeCiFiC iFRS woRkSHopS kpmg’s iFRS institute in belgium will organize a first series of industry-specific iFRS sessions in June 2011 to introduce you to the proposed new standards, which may affect your industry. These sessions will provide you with an understanding of the applicable discussion papers, exposure drafts and newly released standards, along with topical discussions on industry-specific issues. please find below an overview of the available industry-specific iFRS training days in June: iFRS FoR Tues. June 7 2011 , 09.30-14.00 ConSTRUCTIon AnD REAL ESTATE This workshop will examine the most relevant iFRS standards currently applicable to this sector and the proposed requirements of the exposure drafts concerning revenue and leasing, with an additional look at their potential impact on construction and real estate companies. other sector related topics will be briefly presented by kpmg specialists during lunch. iFRS updATe iFRS FoR Thur. June 9, 2011 09.30-14.00 TRAnSPoRT AnD LoGISTICSduring our one-day iFRS update session, we will guide you through the newrequirements for 2011 and help you prepare for the changes expected in This workshop will deal with the most relevant iFRS standards currently applicable2012-2013. to this sector and the proposed requirements of the exposure drafts regarding joint arrangements, revenue and leasing, with an additional focus on the potential impact for transport and logistics companies. other sector related topics will be iFRS update Thur. June 16, 2011 09.30-17.00 briefly presented by other kpmg specialists during lunch. • Fee:• Fee: euR 500 per participanteuR 500 per participant (free of charge for kpmg clients) The sessions include training material, case studies and lunchThe update session includes training material, case studies and lunch • Location:• Location: Construction and Real Estate: At a kpmg facility near brusselsAt a kpmg facility near brussels Transport and Logistics: At a kpmg facility near Antwerp• Language: • Language:The training sessions will be conducted in english The training sessions will be conducted in english
CompAny - TAiloRed in - HouSe iFRS woRkSHopSorganizations can tailor the iFRS training to their specific needs and interestsby combining any of the available modules in half or full training days.we will develop a tailored training program that incorporates topics rangingfrom basic training modules to more advanced and industry-specific modulescovering aspects most relevant to your business.• Fee:Fixed price per (half) day up to 10 participantseuR 2,000 for half a day/euR 3,500 for a full dayThis includes a preliminary meeting to determine the program, trainingmaterial and case studies• Location and timing:These workshops can be organized at your premises on a date convenientfor your organization.• Language:The workshops can be conducted in english, dutch and French.
RegiSTRATion FoR moRe inFoRmationyou can register for the iFRS training sessions: Filip de Bock gilbert Bombaerts partner director by completing the on-line registration form on www.kpmg.be (by clicking kpmg bedrijfsrevisoren/Réviseurs kpmg bedrijfsrevisoren/Réviseurs on kpmg’s iFRS institute banner) d’entreprises d’entreprises by sending an e-mail to firstname.lastname@example.org e-mail: email@example.com e-mail: firstname.lastname@example.org Tel.: + 32 3 821 18 28 Tel.: + 32 2 708 42 03aBout Kpmg’S iFRS inStitute patouche Van Staaij mieke VanmarckeThe belgian kpmg iFRS institute provides information and resources Senior manager Senior managerthat give management added-value insight and access to various thought kpmg bedrijfsrevisoren/Réviseurs kpmg Advisoryleadership platforms that scrutinize the evolving international financial d’entreprises e-mail: email@example.com framework. e-mail: firstname.lastname@example.org Tel.: + 32 2 708 43 74 Tel.: + 32 3 821 18 38As a result of integrating our multidisciplinary approach with extensive,practical knowledge in various industrial sectors, the courses offered bykpmg’s iFRS institute can assist companies in belgium and internationally inunderstanding and applying iFRS to their specific circumstances.our website contains the latest news and publications, the training programswe offer and the assistance we can provide.www.kpmg.be > kpmg’s iFRS institute bannere-mail: email@example.com