Background

Accountants play a crucial role in the investment process. They recognize, measure, and value financial transactions related to investment assets, ascertain profits and losses, and accurately record these in the financial statements according to the relevant financial reporting standards of their jurisdiction. International Financial Reporting Standard 9 (IFRS 9) stipulates how an entity should classify and measure financial assets and financial liabilities. MEFMI will conduct a workshop to provide knowledge on accounting requirements for financial instruments in sovereign asset portfolios.

The workshop will review accounting procedures and practices for financial assets that comprise investment portfolios of institutions in the MEFMI region, including deposits, fixed income, and derivatives. The workshop will provide an overview of investment instruments (money market and fixed income instruments), investment management framework and trade process flow of different instruments. Furthermore, it will equip participants with the concepts of IFRS 7 Financial Instruments Disclosure, IFRS 9 – Financial Instruments, and IFRS 13 – Fair Value Measurement. The participants will also be enlightened on International Public Sector Accounting Standard 28 – Financial Instruments: Presentation, International Public Sector Accounting Standard 29 – Financial Instruments: Recognition and Measurement, and International Public Sector Accounting Standard 30 – Financial Instruments: Disclosures. The workshop will also provide updates on any new financial reporting standards as well as any other emerging issues.

Objectives

• To introduce the precepts of accounting for financial instruments.
• To discuss recognition, measurement, valuation, and disclosure of financial instruments.
• To enhance participants’ knowledge on IFRS 9.
• To refresh participants’ knowledge on IFRS 7 and 13 in the context of the portfolios and instruments held by central bank reserve managers and other institutional investors.
• To discuss new developments and emerging issues in financial standards.

Course Content

• Overview of investment management framework and process flows.
• Accounting for Financial Instruments (money markets and fixed income).
• Measurement, Recognition, and Measurement, and Valuation of Financial Instruments.
• Disclosures.
• IFRS 9 – Financial Instruments, IFRS 13- Fair Value Measurement, and IFRS 7 Financial Instruments Disclosure.
• IPSAS 28 – Financial Instruments: Presentation, IPSAS 29 – Financial Instruments: Recognition and Measurement, and IPSAS 30 – Financial Instruments: Disclosures.
• Emerging issues and standards.

Target Group

This course targets junior, mid-level, and advanced accounting staff, internal auditors of Central Banks, Deposit Protection Funds, Public Pension Funds, and Sovereign Wealth Funds.