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Claiming Back Your VAT
All attendees of a London based course incur VAT as a part of the cost of attendance.
Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.
Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.
Claim the VAT that's rightfully yours in four simple steps:
1. Register your interest
2. Sign a few simple documents
3. VAT IT processes your claim
4. Receive your refund
Why choose VAT IT
VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.
VAT IT will charge a percentage of the VAT refund if/when it is successful.
Can I claim back the VAT myself?
You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form.
For European clients, please refer to form VAT 65.
All other clients, please refer to form VAT 65A.
You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.
International Financial Reporting Standard 9 (“IFRS 9”) is the accounting standard for financial instruments, which defines the classification, measurements and impairment of financial instruments. It is designed to make annual reports more meaningful to investors as well as simplify how auditors implement the rules and introduce safeguards to limit credit losses.
In July 2014, after several years of delay, the accounting regulators published the final text of IFRS 9. This combines revised versions of previously published sections with the first publication of the final and most controversial impairment section. IFRS 9 will become effective in 2018.
Through a mix of lecture and case studies, this IFRS and financial instruments training will equip participants to achieve a detailed understanding of the latest IFRS 9 standard, both for financial assets, liabilities and derivatives, including:
• The classification and measurement of financial instruments;
• The new impairment methodology based on expected losses;
• The fair value of financial liabilities and deterioration of institutions’ own credit;
• The different types of hedge accounting and the recent IFRS changes.
Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2.
This course will run using Video Conferencing Technology. To find out more, please contact email@example.com
The course will run over 3 sessions each day, approximate timings are below, and these may change depending on how the delegates move through the materails.
9am - 11am
12pm - 2pm
3pm - 5pm
All times GMT (Greenwich Mean Time)
Introduction• What is IFRS 9? How does it differ from IAS -39?
• What are financial assets and financial liabilities?
• IFRS 9 history and implementation overview
Financial Assets Classification & Measurement• Presentation of the three different categories
- Amortised Costs;
- Fair value through Profit & Loss (FVTPL);
- Fair value through Other Comprehensive Income (FVTOCI)
• Accounting treatment determined by (i) business model (ii) nature of cash flows
• Decision tree to decide on classification of financial instruments
• Balance sheet and P&L calculation of a bond at amortized cost
- Based on the Internal Rate of Return (IRR) of future cash flows
- Treatment of fees in the IRR calculation• Balance sheet and P&L calculation of a bond at FVTPL and FVTOCI
- Effective interest rate method for interests (same as amortised costs)
- Unrealised gain based on NPV at current yield of future cash flows
• Reminder on determining fair value
- Level 1 based on unadjusted quoted price
- Level 2 based on quoted price in inactive markets or observable model input
- Level 3 based on unobservable but significant inputs to the overall valueCase Study #1: participants will be presented with a few financial instruments and will classify them in their relevant categoriesCase Study #2: participants will compute on Excel the impact on balance and P&L for different types of debt & equity instruments
Financial Assets Impairments• Applies to amortized cost and FVTOCI mandatory fixed income instruments
• Incurred losses (IAS 39) has been replaced by expected losses (IFRS 9)
• Three stages process to determine impairments
- Stage 1: “12-month expected credit losses” with effective interest rate on gross on gross carrying amount
- Stage 2: “life-time expected credit losses” with effective interest rate on gross on gross carrying amount
- Stage 3: “life-time expected credit losses” with effective interest rate on gross on amortised costs
• Accounting treatment for financial instruments already impaired when acquiredCase Study #3: participants will assess the credit deterioration of a Greek bond throughout the crisis and its different stages
Financial Liabilities & Own Credit
• Financial liabilities at amortised cost or FVTPL
• Own credit deterioration reduces institutions’ liabilities
• Liability reduction due to rating downgrade to be now classified in OCI
Case Study #4: participants will assess the impact on credit deterioration on institutions’ own bonds
• Qualification for hedge accounting
• Different types of hedge accounting, same as IAS 39, except for time value of money and forward points in foreign exchange forward
- Cash flow hedge
- Fair value hedge
- Net investment hedge for foreign subsidiaries• Accounting treatment for time value of money for options: a two-step process through OCI
• Accounting treatment for foreign currency forward points in OCI
• IFRS 9 hedge accounting more closely aligned to risk management policy
- Removal of hedge effectiveness criteria (80% to 125%)
- Extends eligibility of risk component to include non-financial items
- Permits aggregate exposure that includes a derivative to be eligible hedged item
- Group of items and a net position (e.g. assets & liabilities or forecast sales & purchases) hedged collectively as groupCase Study #5: participants will classify a few hedging transactions in their relevant categories
Case Study #6: participants will value an interest rate swap accounted for as a cash flow hedgeCase Study #7: participants will review and assess different hedge scenarios including risk component hedging, aggregate exposures and net position
Our Tailored Learning Offering
Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.
If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.
We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.
We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.
We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:
- Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
- Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
- Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
- Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
- Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
- Having succesfully completed M&A and capital market transactions in excess of EUR 30 billion across multiple geographes, my courses are designed to elevate the participants' understanding of all aspects of M&A and reinforce learning with relevant, real-life case studies.
BiographySerge is an experienced Corporate Finance professional with over 20 years’ experience in M&A and capital market transactions. He has successfully completed in excess of EUR 30 billion across multiple geographies (US, Europe, MENA).He began his career as a Credit Analyst at Banque Continentale in Luxembourg, before moving to the Investment Banking division at Citigroup (ex-Salomon Smith Barney) in London and New York where he worked on variety of M&A, LBO and debt offerings, mainly for financial services clients. He became Vice-President in the internal M&A department of Barclays Bank in London before moving on to a Directorship role at the Investment Banking division of Commercial International Bank (CIB), Egypt. Whilst there, he successfully completed several transactions including two sell-side M&A, one follow-on equity offering and a delisting. He worked extensively with leading sovereign wealth funds, private equity firms and prominent families in the Middle East.