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
Optional Post-Conference Workshops
Thursday, November 20, 2008
9:00 - 12:00
Workshop One
Consolidating IFRS and Canadian GAAP Differences
Anna Roux, Senior Manager, Deloitte
Nafeesa Samji, Manager, Deloitte
Tiffany Marr, Senior Manager, Deloitte
This workshop will build on sessions from the previous two conference days. During the first part of the workshop, certain differences between Canadian GAAP and IFRS will be discussed in depth and case studies completed to provide participants with an opportunity to determine practical considerations when bridging these GAAP differences:
- Property, plant, and equipment (IAS 16): elements of costs, components, and depreciation
- Impairment of assets (IAS 36): concepts of cash generating unit, recoverable amount, and applying the "trigger test"
- Provisions, contingent liabilities, and contingent assets (IAS 37): concepts of provisions versus contingencies
The second part of the workshop will illustrate the extensiveness of IFRS-prepared financial statements and will provide participants with an opportunity to determine the differences from Canadian GAAP financial statements and the overall approach for obtaining supporting information, along with guidance and examples to be used in the preparation of IFRS financial statements.
1:00 - 4:00
Workshop Two
How to Develop a Transition Plan for Your Company
Anna Roux, Senior Manager, Deloitte
Tiffany Marr, Senior Manager, Deloitte
This workshop will guide you step by step on how to get started with your transition plan. Experts will provide you with examples of other countries' adoption of IFRS, and what you can learn from their successes and challenges.
- Key milestones: 2008/2009 financial statement disclosures of convergence plans
- Experiences of other countries' adoption of IFRS: what will be different for Canada and what lessons can we learn?
- Creating a transition plan for your company and allocating resources
- Implementing and monitoring your transition plan
- Business impacts: training and education, communication, investor relations
- Peer-to-peer interaction and advice from those currently involved in the conversion process
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