IFRS Transition in Mining
Advanced Strategies for International Financial Reporting Standards Implementation in the Mining Industry
March 23 and 24, 2010
Optional Workshops: March 25, 2010
TORONTO, ONTARIO
Conference Program Agenda - Day Two
Wednesday, March 24, 2010
| 8:00 - 9:00 |
Continental Breakfast |
8:00 - 9:00 |
9:00 - 9:10
Opening Remarks from the Chair
Philip Maguire, Principal, Glenidan Consultancy
9:10 - 10:10
IFRS and 2011: Future Outlook, Changes, and Adaptation
Anshu Grover, Senior Manager, Deloitte & Touche LLP
- Recognizing changes in accounting standards
- Future outlook and discussion on accounting standards
- IFRS and Canadian GAAP
| 10:10 - 10:30 |
Networking Break |
10:10 - 10:30 |
10:30 - 11:30
Mapping IFRS Transitions and IT Issues
Josh Cohen, Solutions Consultant, Reval
- Understanding skill requirements and software transitions
- Amending current IT software from Canadian GAAP to IFRS
- Assessing best practices with accounting principles under IFRS
Joshua Cohen, BSc, MBA, is a member of the Hedge Accounting Technical Taskforce at Reval. Prior to joining Reval, Joshua worked in the Transaction Services Capital Markets Valuation and Accounting Advisory Group at PricewaterhouseCoopers, advising clients on complex technical accounting issues focused on derivatives, fair value measurement, revenue recognition, consolidation of variable interest entities, transfers of financial assets, and servicing financial assets.
11:30 - 12:30
Recent Changes and Updates from the OSC
Claire Prodger, Senior Accountant, Office of the Chief Accountant, Ontario Securities Commission
- Updates from National Instrument 52-107, Acceptable Accounting Principles and Auditing Standards
- Updates from NI 41-101, General Prospectus Requirements, NI 44-101, Short Form Prospectus Distributions, and NI 51-102, Continuous Disclosure Obligations
- Impact of IFRS on NI 52-109, Certification of Disclosure in Issuers' Annual and Interim Filings
| 12:30 - 1:45 |
Luncheon Break |
12:30 - 1:45 |
1:45 - 2:45
Impairment of Assets
Dean Braunsteiner, Partner, Audit and Assurance Group, PricewaterhouseCoopers
- Mitigating IAS 36, Understanding Goodwill Impairment Testing
- Understanding Canadian GAAP and IFRS impairment differences
- Recoverable amounts
- Cash-generating units (CGUs)
- Value-in-use
- Fair value
Dean Braunsteiner, BBA, CA, brings considerable experience to his work as the firm's IFRS mining leader. Dean has extensive experience in Canadian and U.S. GAAP, as well as SEC reporting, and is one of the firm's subject matter experts on mining industry audit and assurance issues.
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Hedging, Functional Currency, and IFRS
Dean Braunsteiner, Partner, Audit and Assurance Group, PricewaterhouseCoopers
- Negotiating functional and presentation currency
- Using IAS 21: the effects of changes in foreign exchange rates
- Disclosure requirements for foreign exchange rates under IFRS
- Exploring hedging accounting options with case studies
4:00 - 5:00
Advanced Strategies for IFRS: Investigating Joint Ventures
Philip Maguire, Principal, Glenidan Consultancy
- Leveraging depreciation and amortization for your benefit
- Using IAS 31: understanding different treatment of joint ventures under Canadian GAAP and IFRS
- Compiling comparative data: differences between Canadian GAAP and IFRS
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