This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

Understanding the nature, timing and amount of liabilities is a crucial part of analysing an entity’s balance sheet, and therefore companies have a financial reporting obligation to ensure that liabilities are appropriately classified and presented. In this IFRS suite session we shall be covering:

• the principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and liabilities in line with IAS 32 Financial Instruments: Presentation
• the distinction that exists between a provision, a contingent liability and a contingent asset and how these are disclosed in the notes to the financial statements in line with IAS 37 Provisions, Contingent Liabilities and Contingent Assets

Target Audience:

The session is aimed for accounting professionals and financial controllers.

Learning Outcomes:

By the end of this session participants would be knowledgeable on what constitutes a financial liability and what disclosures are required in the financial statements to enable users to understand the nature, timing and amount of a financial liability.

Prerequisites:

Basic knowledge on financial reporting and consolidations is recommended.

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 2 hours of structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of the session.

Trainers:

Introduction by Jonathan Dingli, Partner, Advisory Services, KPMG in Malta

Jonathan leads a team of professionals within the Accounting Advisory Services (AAS) Team at KPMG in Malta. At KPMG, Jonathan has assisted various clients, both local and international with respect to IFRS advice and IFRS adoption. He was responsible for advising a multi-national group of over 150 subsidiaries in its adoption of IFRS and the preparation of the group’s first IFRS consolidated financial statements. Before returning to KPMG, Jonathan set up the Malta Institute of Accountants’ Technical Department which he led for seven years. During his term of office Jonathan wrote a number of technical pronouncements on the application of IFRS to specific local circumstances, was responsible for the drafting of GAPSE (an accounting standard for Maltese SMEs), and he also represented the Institute on local and international fora. Before joining the Institute, Jonathan also worked for a number of years with KPMG in Malta and in Dublin during which he was assigned on a number of audits of high level clients both locally and overseas. Jonathan was the editor of the MIA journal the Accountant for seven years. Jonathan has been specialising in IFRS since 2008; he has lectured on IFRS in various countries, ran various IFRS courses for KPMG and the Malta Institute of Accountants and has given presentations at various events and conferences. He lectures on advanced financial reporting in the Master in Accountancy post-graduate degree at the University of Malta.

Renzo Bugeja, Assistant Manager, Accounting Advisory Services, KPMG in Malta

Renzo joined KPMG’s Accounting Advisory Services function in 2018 upon completing his master’s degree in accountancy at the University of Malta. Renzo is mainly involved in advising a varied portfolio of local and international clients with their implementation of IFRS requirements. Renzo also delivers training on specific IFRS matters and local Companies Act requirements to his clients.

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