IFRS Convergence - Calgary
Strategies and Solutions for a Seamless IFRS Transition
Conference: June 11 and 12, 2008
Optional Workshops: June 13, 2008
NEW: Coast Plaza Hotel and Conference Centre · Calgary, Alberta
Conference Program Agenda - Day One
Wednesday, June 11, 2008
| 8:00 - 9:00 |
Registration and Continental Breakfast |
8:QQ - Q:QQ |
9:00 - 9:15
Welcome and Opening Remarks from the Chair
Jason Kingshott, Partner, Myers Norris Penny LLP
9:15 - 10:00
Latest Updates from the Alberta Securities Commission
Fred Snell, Chief Accountant, Alberta Securities Commission
- Regulatory perspective on IFRS conversion and Canadian GAAP
- Recent updates from the regulator
- Update on disclosure requirements
| 10:00 - 10:20 |
Networking Break |
10:00 - 10:20 |
10:20 - 11:20
Understanding the Key Differences between IFRS and Canadian GAAP
Tiffany Marr, Senior Manager, IFRS Conversion Services Group,
Assurance and Advisory, Deloitte & Touche LLP
Nafeesa Samji, Manager, IFRS Conversion Services Group, Assurance
and Advisory, Deloitte & Touche LLP
- Overview of significant differences between IFRS and Canadian GAAP
- Identifying areas of focus for prioritization of conversion efforts
- Future IFRS developments that will impact Canadian adopters by 2011
11:20 - 12:20
Overview of IFRS 1 and Key Steps for First-Time Adoption
Marilyn Kuntz, Partner, BDO Dunwoody LLP
- Overview of IFRS 1 for first-time adoption of IFRS
- Impact on the opening balance sheet and comparative periods presented
- Clarify limited exceptions available on initial adoption
- Disclosures to explain the transition from previous GAAP to IFRS
- Key areas that may be impacted by initial adoption
| 1:40 - 2:40 |
Luncheon |
1:40 - 2:40 |
1:40 - 2:40
Understanding New Business Combinations Standard
Chris Johnston, Partner, IFRS Conversion Services Group, Deloitte & Touche LLP
Gerard Black, Associate Partner, IFRS Conversion Services Group, Deloitte & Touche LLP
- Dealing with the following select significant changes that will result from revised standards:
- use of fair value emphasized, which will result in increased judgment and
input from valuation experts
- focus on changes in control as a significant economic event, which requires re-measurement of
interest to fair value at time control is achieved or lost
- recognition of the impact of all transactions not involving a loss of control in
equity
| 2:40 - 3:00 |
Networking Break |
2:40 - 3:00 |
3:00 - 4:00
Oil and Gas Accounting under IFRS: Main Differences and Their Implications
Sippy Chhina, Partner, IFRS Conversion Services Group, Deloitte & Touche LLP
Shawn Lai, Manager, IFRS Conversion Services Group, Deloitte & Tocuhe LLP
- Main differences between Canadian GAAP and IFRS as they relate to accounting for oil and gas activities
- Why the AcSB isn't keeping AcG-16
- Overview of the IASB project on extractive activities: where is this headed?
- Implementation considerations and strategies for adoption of IFRS
4:00 - 4:30
Open Forum Discussion
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