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Advanced Certificate Program on International Financial

Reporting Standards
(IFRS) Implementation and Compliance
KPMG IN INDIA
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Content
About the program
Program Modules
Know your Program Faculty
About KPMG IFRS practice
Synchronous Learning - NIIT Imperia
How to apply
This program is jointly provided by KPMG in India and NIIT Imperia
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
About the program
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
About the program
Professional from KPMG in India with significant IFRS conversion experience
Trainer of International Repute
Focused toward challenges to be faced by each stakeholder in
IFRS conversion
Practical inputs on carrying out a conversion exercise
Mix of Experience Sharing Real Life Case Discussion
Use of Illustrative Financial Statements Industry Disclosure
Requirements, etc.
Certification of completion on successful assessment clearance from KPMG in India and NIIT Imperia
Faculty
Program Design
Pedagogy
Certification
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
About the program
Program Faculty: Ram Iyer, Sandip Khetan and Pravin Tulshyan
Duration: 6 weeks
Eligibility: Graduate min 2yrs. Work experience are eligible to join the program [Experience requirement are
waived off for CA, CS, CWAs, MBA (Finance) and corporate nomination]
Schedule: Wednesday 9:00 AM 5:30 PM
Fees: INR 40,000/- inclusive of tax
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Who should attend?
This program should be of value to you if you are:
CFO & Finance Director
Analysts, Accountant
Investment Banker
Corporate Banker
Strategic Planner
Auditor
Private Equity & Merger & Acquisition specialist
Tax Director
Consultant
Practicing CA, CS, CWA, and professionals from Indian companies with a global presence
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Program
Modules
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Overview/Roadmap and IFRS Framework
Presentation of financial statements
Revenue recognition
Business combinations
Financial instruments
Consolidation
The effect of change in Foreign exchange rates
Income taxes
Property, plant and equipment, intangible assets and investment property
Impairment and Provisions/contingencies
Employee benefits, Share based payment, Non-current assets held for sale and
discontinued operations
Leases, borrowing costs, operating segments, events after the balance sheet date, change
in accounting policies and errors
Approach to IFRS conversion
Module Coverage
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Upon completion you should understand
The purpose, status and scope of the Framework
The fundamental concepts and definitions upon which IFRSs are
based
The history and objectives of IASB
IASB as an organisation
IFRSs around the world
IASBs work programme
The concept paper of ICAI and current environment on transition
to IFRS
Topics covered in the module
IFRSs issued by the IASB including IFRS 1
IASs issued by the IASC or revisions thereof issued by the IASB
Interpretations issued by the IFRIC and approved by IASB
SIC interpretations approved by the IASB or the IASC
Overview/Roadmap and IFRS Framework
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Upon completion you should understand
The required components of financial statements
How to apply overall financial statement concepts
and assumptions
The structure of financial statements
Topics covered in the module
Statement of financial position
Statement of comprehensive income
Statement of changes in equity
Statement of cash flows
Notes
Presentation of financial statements
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Revenue recognition
Upon completion you should understand
The types of income that exist and what the applicable standards and
interpretations are (e.g., IAS 18, IAS 11 or other)
When revenue should be recognised
How revenue is measured
The steps that should be followed for revenue recognition
When to separate components of a contract
The presentation and disclosure requirements
Topics covered in the module
IAS 18- Revenue recognition
IAS 11- Construction contracts
IFRIC 13 Customer royalty programme
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Business Combination
Upon completion you should understand
Business combination and identify transactions qualifying as
business combination
How to identify the effective date, transactions that meet the
definition of business and control
How to identify the acquirer in a business combination
How to determine the date of business combination/acquisition
and the date on which the acquirer obtains control of the
acquiree
How to recognise all assets acquired, all liabilities, and any
non- controlling interest in the acquiree at their acquisition date
fair values
How to determine the consideration transferred and goodwill or
bargain purchase in a business combination
How to determine the amount of contingent consideration to be
accounted as part of consideration transferred
The presentation and disclosure requirements related to
business combinations and non-controlling interest
Topics covered in the module
IFRS 3
IFRIC 17 Distributions of Non-cash Assets to Owners
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Financial instruments
Upon completion you should understand
The definition of financial instruments and different categories
of financial instruments
The accounting for each of the categories of financial
instruments
The definition of derivatives and an introduction to plain vanilla
derivative products (options, swaps etc.) and the overall
accounting framework for derivatives
The concept of embedded derivatives (hybrid instruments)
The concept of Hedging by learning the three different
types of hedging relationships and the key accounting
differences in those three different hedging relationships
The classification and disclosure of financial instruments
Topics covered in the module
IAS 39- Financial instruments: recognition and measurement
IAS 32- Financial instruments: disclosure and presentation
IFRS 7- Financial instruments: disclosure
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Consolidation
Upon completion you should understand
How to distinguish different kinds of entities (subsidiaries, associates and joint
ventures)
How to account for them
The principles of consolidation, equity accounting and proportionate consolidation
The consolidation disclosure requirements
Topics covered in the module
IAS 27- Consolidation and separate financial statements
IAS 28- Investment in associates
IAS 31- Interest in joint ventures
SIC 12- Consolidation Special purpose entities
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
The effect of change in foreign exchange rates
Upon completion you should understand
How to determine a companys functional currency
How foreign currency transactions and balances are translated into a companys
functional currency
How foreign currency financial statements are translated for consolidation purposes
The presentation and disclosure requirements
The indicators of a hyperinflationary economy
Topics covered in the module
IAS 21- The effect of change in foreign exchange rates
IAS 29- Financial reporting in hyperinflationary economies
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Income taxes
Upon completion you should understand
The concepts of current and deferred income taxes
How income taxes are accounted for by the asset / liability method
The concept of temporary differences and ascertain how these differences arise and
how they need to be accounted for
How to evaluate the appropriateness of recording valuation allowance against deferred
tax assets
The presentation and disclosure requirements relating to current and deferred income
taxes
Topics covered in the module
IAS 12- Income taxes
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Property plant and equipment, intangible assets and investment property
Upon completion you should understand
How to identify and account for intangible assets
How to identify and account for investment properties
The revaluation and cost models of accounting for property, plant and equipment
(PPE), intangible assets and investment property
How to account for changes in depreciation methods / useful life / residual value
The differences between repairs and maintenance, replacements and major inspections
How to account for changes in existing decommissioning, restoration and similar
liabilities
The presentation and disclosure requirements
Topics covered in the module
IAS 16- Property plant and equipment
IAS 38- Intangible assets
IAS 40- Investment property
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Impairment and provisions/contingencies
Upon completion you should understand
The procedures that an entity applies to help ensure that its assets are carried at no
more than their recoverable amount
The practical difficulties in applying this standard
The definition of a provision, contingent liability and contingent asset
The recognition and measurement criteria for provisions, contingent liabilities and
contingent assets
The application of IAS 37 to specific circumstances
The presentation disclosure requirements
About the current developments IASB & IFRIC regarding
IAS 37
Topics covered in the module
IAS 36- Impairment of assets
IAS 37- Provision contingent liabilities and contingent assets
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Employee benefits, Share based payment, Non-current assets held for sale and
discontinued operations
Upon completion you should understand
The key application issues on employee benefits
The key application issues on share based payments
The key application issues on non current assets held for sale
The key application issues on discontinued operations
The key differences on the above topics with reference to Indian GAAP
Topics covered in the module
IAS 19- Employee benefits
IFRS 2- Share based payments
IFRS 5- Non current assets held for sale and discontinued operations
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Leases, borrowing costs, operating segments, events after the balance sheet date,
change in accounting policies and errors
Upon completion you should understand
The key application issues on leasing including right to use
The key application issues on borrowing costs
The key application issues on operating segments
The key application issues on event occurring after the balance sheet date
The key application issues on change in accounting policies and errors
The key differences on the above topics with reference to Indian GAAP
Topics covered in the module
IAS 17 and IFRIC 4- Leases and Determining whether an arrangement contains a
lease
IAS 23- Borrowing costs
IFRS 8- Operating Segments
IAS 8 Accounting policies, change in accounting estimates and errors
IAS 10 Events after the reporting period
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Approach to IFRS Conversion
Upon completion you should understand
How and when to start IFRS conversion
The different steps involved in IFRS conversion
The role of different stakeholders in the IFRS conversion
How to assess the impact of IFRS conversion on company existing financial reporting
and practices
IFRS 1 First time adoption of IFRS
Topics covered in the module
IFRS 1 First time adoption of IFRS
KPMG approach to IFRS conversion
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Know your Program
Faculty
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Ram Iyer
Name Ram Iyer
Position Director, Accounting Advisory Services, KPMG in India
Education and
Qualifications
Chartered Accountant
Experience Ram is experienced in the fields of audits and accounting including Indian GAAP, US GAAP, IFRS and training.
He has served several prominent Indian corporates, including financial institutions, with US GAAP and IFRS
conversion. Ram also has significant project management and training experience.
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Sandip Khetan
Name Sandip Khetan
Position Director, Accounting Advisory Services
Qualifications Member of the Institute of Chartered Accountants of India (14
th
Rank Holder all India)
Experience Sandip Khetan is a director in the Accounting Advisory Services of KPMG and is based out of Delhi. He has
more than 10 year of auditing and accounting experience. Sandip is a member of the Institute of Chartered
Accountants of India as well as an alumnus of IIM Ahmedabad
Sandip has extensive audit experience spanning across a sector of industries including IT/ITES, Media, Auto and
Telecom dealing with US GAAP/GAAS and IFRS. He has worked with both large Indian business houses and
multinationals. He is the engagement manager on a largest BPO company in India which is only domestic SEC
registrant from India. Sandip has gained significant experience of US GAAP and US Capital market while
managing the entire US IPO process of Genpact as engagement manager.
Sandip experience includes clients such as Genpact, Global Vantedge, Money control. com, Cadence design
systems, Freescale semiconductor, Hindalco, Apollo Tyres, Ericssion, SRF etc among many more. Sandip is an
active participant in firm training initiatives and have conducted many training session on US GAAP/ IFRS for
clients and for different member firms (Dubai, Moscow, Egypt) in the past.
Sandip has also worked with HCL Technologies for a period of 4 years during which he was leading the
corporate finance MIS team and has worked closely with the top management of HCL corporate team. Sandip
was leading the overall US GAAP reporting of HCL Technologies.
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
About KPMG IFRS
practice
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
KPMG IFRS practice in India
Established IFRS practice in India with more than 100 engagements and more than
200 resources. Integrated teams to address technology and process issues related to
IFRS adoption.
Committed to providing thought leadership in IFRS.
Significant experience of carrying out large IFRS conversion projects.
Professional staff having international experience implementing IFRS (including IAS 39)
and are extremely well networked within core IFRS practices in Europe, Canada and
Australia.
Dedicated centralized IFRS technical group which works closely with KPMG's International
Financial Reporting Group in London.
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Synchronous Learning
NIIT Imperia
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
NIIT IMPERIA - Technology Edge
18 Classrooms in 17 cities
Direct one-to-one interaction is fostered through individual ICT systems for
each student:
High-performance PCs
Webcam
Audio system and microphone at each workstation, connected directly to
faculty at institutes
Classroom interactions & ambience are facilitated by clusters of student-stations
and camera & projection systems that can span the full classroom.
6 Synchronous Learning Centers created within corporate premises
Learning Management System (LMS):
supplementary e-learning
program-specific notices
online submission of assignments
reminder services
online testing
student records
CLASSROOM VIEW
STUDIO VIEW
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Synchronous Learning
REPLICATION OF LIVE CLASSROOM
Full features of face-to-face
teaching
Raised-hand-seeking-
teacher's-attention
Tabulation of responses
Quizzes randomly created by
the teacher
2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
How to Apply
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Application forms
Application forms can be obtained from www.niitimperia.com or at local NIIT IMPERIA
Centres
Documents Required for Application
1 Passport size photo affixed [Latest photo with light backdrop]
Proof of Graduation Completion [Provisional / Degree Certificate]
Proof of Experience [Experience Certificates as supporting documents for all the jobs
mentioned in the form]
How to Apply
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2009 KPMG, an Indian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG Int ernational, a Swiss cooperative. All rights reserved.
Call Us At 18001806060 (MTNL/BSNL) or 011-60006448 (Others)
(Or)
Write to imperia@niit.com
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can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate i n the future. No one should act on such information without appropriate professional advice
after a thorough examination of the particular situation.
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