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Accounting for Derivatives in Practice under IFRS9

London Financial Studies
Course summary
2 days
2,790 GBP, 3,490 USD
Open / Scheduled
Next available date: 14/10/2019 09:00 - Singapore
Course Dates
14/10/2019 09:00  (English)
3,490 USD
29/10/2019 09:00  (English)
2,790 GBP
29/10/2019 09:00  (English)
2,790 GBP

Course description

Accounting for Derivatives in Practice under IFRS9

Accounting for Derivatives in Practice under IFRS9: 2 day training course in Hedge Accounting

This programme will give you a deep understanding of derivatives accounting and the application of hedge accounting for the interest rate, inflation and FX markets. Learning is based on an intense use of real cases, applying IFRS9 step-by-step. The new requirements are contrasted with IAS 39 where needed, with detailed discussions on the implementation of new rules.

Case studies and workshops simulate real-life client discussions, and cover the decision-making, documentation requirements, hedge effectiveness assessment and the accounting entries of a hedging strategy during its life.

All participants will receive a copy of Juan Ramirez's book "Accounting for Derivatives: Advanced Hedging under IFRS", published by Wiley Finance.

Suitability - Who should attend?

This Accounting for Derivatives training course has been developed for professionals with financial reporting responsibilities, including:

  • Derivatives structurers and salespeople
  • Derivatives accountants
  • Financial managers
  • Treasurers
  • Derivatives middle-office
  • Stock analysts

Outcome / Qualification etc.

This Accounting for Derivatives training course is eligible for CE/CPD credit hours from CFA and GARP Institutes.

Juan Ramirez (Course leader)

Juan Ramirez is a senior professional at one of the big 4 auditing firms, providing accounting advice on specific complex financial instruments and transactions, primarily related to (de)recognition, consolidation and hedging. He also advises banks on Basel III/IV and IFRS 9 issues, as well as being involved in all elements of capital ratios: reporting, measurement, stress testing, planning and optimization.

Juan is one of the best known professionals in hedge accounting and the link between IFRS 9 impairment model and capital. Previously, he was responsible for the marketing of strategic equity derivatives to corporate and banking clients at BNP Paribas in London.

With an MBA from University of Chicago, Juan moved to London to work at JP Morgan (Chase) and later Lehman Brothers, Barclays Capital and Banco Santander. He has devoted more than 20 years to marketing structured derivatives solutions, including commodity, credit, equity, fixed income and FX, and has witnessed at first hand the practical accounting issues related to these markets since the implementation of IFRS.

Juan is the author of “Accounting for Derivatives” and “Handbook of Corporate Derivatives and Equity Capital Markets” published by Wiley

Training Course Content

Day One 

Accounting for FX derivatives - Conceptual Framework

  • Introduction to IFRS 9
  • Interaction with other IFRS standards

Introduction to FX transactions

  • Types of FX exposures
  • Functional currency vs. presentation currency
  • Chronology of a FX transaction

Workshop: Philips - Hedging a highly expected foreign sale

  • Identification of the FX exposure
  • Applying hedge accounting - hedging with an FX forward
  • Applying hedge accounting - hedging with an option
  • Applying hedge accounting - hedging with a tunnel
  • Applying hedge accounting - hedging with a knock-in forward

Case Study: Hedging a highly expected foreign purchase

  • Identification of the FX exposure
  • Applying hedge accounting - hedging with an FX forward

Case Study: Net investment hedge – France Telecom and Everything Everywhere

  • Translation of foreign operations
  • Identification of the FX exposure
  • Applying hedge accounting - hedging with a cross-currency swap
  • Applying hedge accounting - hedging with foreign debt

Short case studies: Special FX situations

  • Intercompany FX hedging hedge accounting challenges
  • Dual hedging using a single derivative

Day Two

Accounting for Interest Rate Derivatives

Workshop: Hedging a floating rate liability – Cash flow hedge

  • Financial assets classification under IFRS 9. Comparison to IAS 39
  • Financial liabilities classification and the fair value option
  • Accounting for floating rate bonds – the effective interest rate
  • Applying cash flow hedge for a fixed to floating interest rate swap
  • Hedge accounting documentation and hedge effectiveness assessments
  • Accounting entries

Workshop: Hedging a future issuance of a fixed rate liability

  • Case background and hedging strategy
  • Hedge accounting documentation and hedge effectiveness assessments
  • Accounting entries

Workshop: Hedging a fixed rate liability

  • Accounting for fixed rate bonds
  • Applying fair value hedge for a floating to fixed interest rate swap
  • Hedge accounting documentation and hedge effectiveness assessments
  • Accounting entries

Case study: Hedging inflation risk

  • IAS 39 vs. IFRS 9 guidelines on inflation risk hedging
  • The challenge of hedging inflation-linked revenues

Case study: Macrohedging (under IAS 39)

  • Explanation of the objectives
  • Steps to its application and its weaknesses under IAS 39
  • IFRS 9 macrohedging project

Other topics

  • Hedging credit risk
  • Hybrid instruments

About provider

London Financial Studies - Training Course in London, New York and Singapore

London Financial Studies are specialists in delivering professional development for finance professionals focusing on capital markets. LFS provide individuals, teams and companies with expert teaching that combines theoretical understanding with practical experience, giving them the knowledge to operate at the...

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London Financial Studies

34 Curlew Street
SE1 2ND London

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London Financial Studies is a wonderful training provider - the staff, the equipment, the environment and the course curriculum are on point.
Derivative Structurer, Rand Merchant Bank
I came all the way from South Africa to attend the course on hedge accounting by Juan Ramirez. He has a very thorough knowledge of the subject and provides practical examples of how hedge accounting is implemented. This was very useful. I would definitely recommend the course.
Danske Bank
Juan Ramirez delivered a comprehensive introduction to Hedge Accounting issues under IFRS9. His tutoring was very hands on with a good amount of examples from real cases.