IFRS Convergence - Calgary
Strategies and Solutions for a Seamless IFRS Transition
Conference: November 18 and 19, 2008
Workshops: November 20, 2008
NEW VENUE: Delta Bow Valley
Calgary, Alberta
Day Two - IFRS Convergence - Calgary
Wednesday, November 19, 2008
| 8:30 - 9:00 |
Continental Breakfast |
8:30 - 9:00 |
9:00 - 9:10
Opening Remarks from the Chair
Marilyn Kuntz, Partner, BDO Dunwoody LLP
9:10 - 10:10
Regulatory Perspectives on IFRS Conversion
- Alberta Securities Commission's perspectives on IFRS conversion
- Current and emerging regulatory issues arising from the transition to IFRS
- Updates on the regulator's recent activities and decisions
- Update on disclosure requirements
- Current developments and latest IFRS considerations
- Tips and strategies from the regulators
| 10:10 - 10:30 |
Networking Break |
10:10 - 10:30 |
10:30 - 11:45
Case Study
Practical Strategies for IFRS Implementation: Lessons Learned 10 Months into Canadian Pacific Railway's Transition
Iain Robertson, Manager, Accounting Policy and Special Projects, Canadian Pacific Railway
- Tips and traps
- Assessing IFRS and Canadian GAAP differences
- Planning and designing for implementation
- Communicating with stakeholders
- Embedding IFRS into processes
| 11:45 - 1:00 |
Luncheon Break |
11:45 - 1:00 |
1:00 - 1:45
Impairment of Assets: Major Changes You Need to Understand
John Leavitt, Manager, BDO Dunwoody LLP
- Impairment testing model under IFRS
- Key differences between Canadian GAAP and IFRS
- How will you be affected most
1:45 - 2:45
Differences between Canada-US GAAP and IFRS in Relation to Tax Accounting
Joe Micallif, Partner, Tax, Ernst and Young LLP
- Impacts of IFRS on tax reporting and tax filings
- Overview of FIN 48 requirements
- Challenges and implications of applying the rules
- Where IFRS and Canadian GAAP are heading in relation to "uncertain tax positions"
- Presentation issues with respect to future tax assets and liabilities
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Understanding Fair Value under IFRS
David Langlois, Manager, Deloitte
James Dyack, Senior Manager, Deloitte
- Fair value considerations when adopting IFRS
- Impact on disclosure requirements
- Understanding fair value and revaluation as deemed cost on adoption of IFRS 1
- Understanding the difference between the Revaluation Model and the Fair Value Model
4:00 - 4:45
Oil and Gas Industry Under IFRS: Main Changes and Their Implications
Marc Joiner, Partner, Deloitte
- Potential impacts on the oil and gas industry
- Accounting oil and gas activities
- Why the AcSB will be removing AcG-16
- Overview of the IASB's project on extractive activities
- Implementation strategies for the oil and gas industry for the adoption of IFRS
4:45 - 5:00
Closing Remarks from the Chair
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