Annual Update for Accountants Course in Dubai on 31 May 2012

Dubai, United Arab Emirates

Program Outline

The Current Agenda of the IASB and FASB
- The Current Projects and Standards Under Consideration
- Summary of the Recently Issued Standards and their Effective Dates
- Next Steps on the Convergence of IFRS and GAAP Presentation of Financial Statements
- Standards Currently Effective – Recent Developments and Pronouncements
- The Statement of Financial Position
- The Comprehensive Income
- The Statement of Changes in Owners’ Equity
- The Statement of Cash Flows Financial Instruments
- Classification of Financial Instruments:
- Held-to-Maturity Debt Securities
- Trading Securities
- Available-for-Sale Securities
- Loans and Receivables
- Fair Value Through Profit and Loss Option
- Determining Fair Value
- Initial Measurement

Accounting Methods:

- Amortized Cost Method
- Fair Value Method
- Accounting for Subsequent Transactions
- Reclassification and Transfer between Categories
- Offsetting of Assets and Liabilities Consolidation Project
- Recent Developments Related to Consolidation Accounting, Joint Ventures and Investments in Associates
- Applying Consolidation Principles
- Applying the Equity Method
- Required Disclosures Accounting for Leases
- Latest Deliberations on Lease Accounting
- The New Definition of Leases
- The Effect of the Proposed Changes in Lease Accounting on Financial Statements

Classification of Leases:

- Operating Lease
- Capital/Finance Lease

Accounting in Small and Medium Sized Entities (SME’s)
- IFRS for SMEs
- Definition of SME Entities
- Recent Developments
- FASB Project for Accounting in SMEs Other Topics
- Recent Deliberations on Revenue Recognition
- Long-Lived Assets and Intangible Assets
- Impairment Issues
- Liabilities and Owners’ Equities