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IVCJ's 2-Day Workshop on IFRS and Indian Accounting Standards
- “Unveiling its Implications” |
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| Background: |
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International Financial Reporting Standards (IFRS) aim to bring all the countries across the world under a common set of global accounting standards that provide transparency, consistency and comparability in financial reporting. In fact, regulators across various countries are already demanding IFRS compliant financial statements. India is among the 150 countries that have announced its decision to adopt IFRS in 2011.
Becoming IFRS compliant demands changes right from the grassroots level, beginning with academic inputs and training. However, considering the time constraints before implementing these new standards, the very process of change is an enormous task. Consequently, an expert escort through the process is of paramount importance. With the objective of providing appropriate training to the companies that intend to draw up detailed plans for migrating to IFRS, IVCJ has organised an intensive workshop on “IFRS and Indian Accounting Standards”. The event is aimed at facilitating participants to augment their knowledge and skill-sets about IFRS, through interaction with leading experts. |
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Who Should Attend: |
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- Chief Financial Officers & Finance Directors
- Analysts
- Accountants
- Budget Officers / Forecasting Specialists
- Fund Managers and Investors
- Strategic Planners
- Private Equity and M&A Specialists
- Investment Bankers
- Corporate Bankers
- Auditors
- Tax Directors
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Past Attendees: |
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Faculty: |
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The Programme will be conducted by leading Indian and globale proponents and advisors for IFRS conversions and maintenance. The faulty includes specialists from: |
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- Grant Thornton India
- Deloitte Haskins & Sells
- KPMG India
- PWC India
- And Corporate case studies
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| About the Faculties: |
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Mr. V. Venkataramanan, KPMG India |
Venkat is a member of KPMG's accounting advisory and financial services practices and has worked with a number of companies, banks and financial institutions on accounting advisory, audit, due diligence and securities offering assignments in India and the UK. Venkat has been a co-author of KPMG's Insights into IFRS and and KPMG's Illustrative Financial Statements for Banks in 2006. Venkat has also designed and delivered a number of training courses for clients in a wide spectrum of industries primarily dealing with US GAAP, IFRS and financial instrument accounting issues. |
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Mr. Khazat Kotwal, Partner-Assurance, Grant Thornton India |
Khazat's experience includes providing financial advisory services to clients under International GAAP IFRS and US. He has advised clients on entering international capital markets through public offerings or private placements US IPOs/ 144A/ RegS/ Indian IPOs. Under assurance services, Khazat has audited companies under US GAAS and International Auditing Standards. Further, under Due Diligence, he has undertaken studies on impact of converting from Indian GAAP to US GAAP/ IFRS. |
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Mr. Sai Venkateshwaran, Partner-Assurance Services, Grant Thornton India |
At Grant Thornton, Sai is the engagement partner on several IFRS and US GAAP advisory and US GAAS assurance assignments to Indian, US and multinational clients. He is the IFRS Champion for the India firm. He is also actively involved in providing transaction support services to several of these clients. He also leads several Sarbanes Oxley compliance assignments being executed by the Indian office for clients like Syntel, Kanbay, etc. and is also leading SAS 70 certification assignments and IT controls and security review assignments for various IT services companies in India. |
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Mr. Jamil Khatri, Head Accounting Advisory Services, KPMG India |
Jamil heads the Accounting Advisory Services practice of KPMG in India. This includes the iFRS Conversion Services practice. He has been practicing international reporting for more than 10 years and in this role has assisted several large Indian companies including ICICI, ICICI Bank, UTI Bank, Wipro, Reliance Petroleum and Dr. Reddy's as they transitioned from Indian reporting to international reporting. Jamil also has international experience and worked for KPMG UK, based in London in 1997. He is an authority on IFRS and U.S. GAAP. He has spoken at various industry and professional forums on IFRS adoption and its implications for corporate India. |
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Mr. Rakesh Agarwal, Associate Director, PricewaterhouseCoopers |
Mr. Rakesh Agarwal is an associate director in PricewaterhouseCoopers' Global Capital Markets Group (GCMG) practice that primarily deals with IFRS and US GAAP.
Recently, Mr. Agarwal became a part of IFRS strategy group and is entrusted with the task of training on IFRS within PwC India . He is a regular speaker at various seminars of the Institute of Chartered Accountant of India (ICAI) such as national conferences, ICAI train the trainer programme and Western India Regional Council ( WIRC). He was a reviewer for the ICAI 80 hours training material on IFRS and was lead trainer for the train the trainer programme of the IFRS certificate course launched by ICAI. He is a qualified Chartered Accountant. |
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Mr. Gaurav Vohra, Senior Manager, PricewaterhouseCoopers |
Mr. Gaurav Vohra has specialisation in U.S. GAAP and International Financial Reporting Standards (“IFRS” formerly known as IAS). He has been involved in providing accounting advice to clients of PwC seeking to enter the U.S. and other foreign capital markets through public offerings or private placements.
Mr. Vohra has also regulary imparted training at sessions within PwC and at outside forums like ‘Management associations', ‘Institute of CAs in India' and is Managing the US GAAP/IFRS training programme for one of the top BPO/KPOs in India.
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Mr. B. Sekkizhar,
Director,
Deloitte Haskins & Sells |
Mr. B. Sekkizhar has been asso cia ted with Deloitte for over fifteen years in their Audit, Tax and Consulting practices in Chennai, Jamshedpur/Calcutta and Hyderabad. He has been mainly involved in serving clients in Manufacturing and IT services. He is a regular faculty of ICAI and serves as resource person for ICAI in the areas like IFRS, Accounting Standards and Risk Management. He is a special invitee to Accounting Standards Board of ICAI for the year 2009-10. He was a co-opted member of the committee on Accounting Standards for Local bodies and editorial Board of ICAI, New Delhi. He is a fellow member of the Institute of Chartered Accountants of India. |
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Mr. Rahul Chattopadhyay, Associate Director, PricewaterhouseCoopers |
Mr. Rahul Chattopadhyay is primarily involved in advising clients on various listing issues in the international capital markets. He possesses extensive experience on IFRS transition and technical issues, he has advised many companies on various complex issues under IFRS. He specialises on matters relating to business combinations under IFRS and has advised clients on acquisitions.
Mr. Chattopadhyay has significant international exposure. He was with PricewaterhouseCoopers, London for two years working with the Global Accounting Consulting Services (Global ACS) - UK team advising clients on complex IFRS accounting issues. He was also involved in developing various knowledge management tools for the global firm. He has been actively involved in the firm's global responses to various IFRS exposure drafts and pronouncements soliciting responses from firms, industry groups and corporate.
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Mr. Kalpesh J. Mehta,
Audit Partner-Deloitte Haskins & Sells |
Kalpesh is an audit partner and was involved in attest services of the firm in respect of premium hotels of Mumbai, non-banking finance companies and large manufacturing companies. He was the team leader for US GAAP conversion and listing in the United States of the first Indian private sector bank. His experience includes audit of Oil & Gas Companies, International Airline, Financial Due Diligence Review of large TMT, International Airline, Large Cement Company. He is currently handling IFRS restatement of several entities engaged in the financial services, large manufacturing companies. He is also one of the trainer at ICAI IFRS Accreditation Course conducted in Pune and Hyderabad. |
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Mr. Hiranya Ashar–Director-Finance & CFO - Rolta India Ltd |
Mr. Hiranya Ashar has over 10 years' experience in finance, accounts, taxation and audit. He is a commerce graduate and an Associate member of The Institute of Chartered Accountants of India. He has extensive experience of managing corporate finance, project management, financial planning & analysis, budgetary control, fund management, taxation, audit, mergers & acquisitions and investor relations. He possesses strong analytical and management skills and is an effective leader in rapid growth situations. He has an extensive experience in boardroom, executive management, financial, operations, and business strategy. He possesses strong information systems skills, including experience using systems to facilitate productivity and improve financial analyses. |
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Mr. Zubin F. Billimoria, Partner, Deloitte Haskins & Sells |
Mr. Zubin F. Billimoria, Deloitte Haskins & Sells, graduated in commerce from the Mumbai University in 1985 and became a fellow member of the Institute of Chartered Accountants of India (qualified in 1989) and also the associate member of the Institute of Company Secretaries of India (qualified in 1992). He has served Deloitte and its associate firm, S.B. Billimoria & Co., in the Audit and Assurance Department for over 23 years. He specialises in audit and attestation engagements of financial service companies including banks and mutual funds, real estate industry and hotels. His major assignments include IPO and QIB filing for IDFC Ltd; FCCB filing for HDFC Ltd.; GDR and QIB filing for Kotak Mahindra Bank Ltd.; the rights issue filing of The Indian Hotels Co. Ltd. and the merger of the Times Bank with HDFC Bank Ltd. |
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Primary Objective of the Workshop is to: |
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- Reveal the concept of International Accounting Standard Board's (IASB) standards and frameworks
- Explain the current standpoint of IFRS and its future with regards to convergence
- Present the differences between the existing accounting standards and regulations used globally and IFRS
- Walk you through the procedure to comply with IFRS financial statement requirements, including accounting policies and disclosure
- Implement the IFRS recognition and measurement rules for assets, liabilities, revenues, expenses, gains and losses as well as delve into the impact of IFRS on the existing financial statements of businesses
- Increase planning opportunities as a result of the awareness of the expected IFRS changes in the future
- Explore the prospects for global convergence of major national accounting standards
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Programme Schedule: |
| Day 1 - Tuesday, 28 July 2009, New Delhi |
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Time |
Session |
Topic |
Faculty |
09:00 AM |
Session 1 |
Genesis of International Accounting Standards Board (IASB) |
Mumbai:
Mr. Sai Venkateshwaran,
Partner-Assurance Services,
Grant Thornton India
New Delhi:
Mr. Khazat Kotwal,
Partner-Assurance,
Grant Thornton India
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09:30 AM |
Session 2 |
The What and Why of IFRS
- Reporting Entity Concept
- Objective of Financial Reports
- Qualitative Characteristics of Financial Information
- Definition and Recognition Criteria
- Principles v/s Rule Based Approach
- Operating Cycle
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Mumbai:
Mr. Sai Venkateshwaran,
Partner-Assurance Services,
Grant Thornton India
New Delhi:
Mr. Khazat Kotwal,
Partner-Assurance,
Grant Thornton India
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10:30 AM |
Tea and Coffee Break |
11:00 AM |
Session 3 |
Implementing IFRS 1: First Time Adoption of IFRS |
Mumbai & New Delhi:
Mr. Jamil Khatri, Head-Accounting
Advisory Services, KPMG India |
12:00 PM |
Session 4 |
The Technical Implications of Upgrading Indian GAAP to IFRS (Part - 1)
- Presentation of Financial Statements
- Business Combinations
- Group Accounts
- Financial Instruments
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Mumbai:
Mr. Sai Venkateshwaran,
Partner-Assurance Services,
Grant Thornton India
New Delhi:
Mr. Khazat Kotwal,
Partner-Assurance,
Grant Thornton India
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01:00 PM |
Lunch |
02:00 PM |
Session 5 |
The Technical Implications of Upgrading Indian GAAP to IFRS (Part - 2)
- Income Taxes
- Employee Benefits and Share-based Payments
- Impairment of Assets
- Fixed Assets, Intangibles, Investment Property and Leases
- Related Party Disclosures
- Segment Reporting
- Revenue Recognition
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Mumbai:
Mr. Rakesh Agarwal,
Associate Director, PWC
New Delhi:
Mr. Gaurav Vohra,
Senior Manager, PWC |
03:30 PM |
Tea and Coffee Break |
04:00 PM |
Session 6 |
The Technical Implications of Upgrading Indian GAAP to IFRS (Part - 3)
- Forwards
- Futures
- FX Futures
- Swaps
- Options
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Mumbai & New Delhi:
Mr. V. Venkataramanan,
Technical Specialist, KPMG India
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05:00 PM |
Session 7 |
Success Story |
Case Studies of IFRS Adoption |
06:00 PM |
Closing Day 1 |
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| Day 2 - Wednesday, 29 July 2009, New Delhi |
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Time |
Session |
Topic |
Faculty |
09:00 AM |
Session 8 |
How will the implementation of IFRS Impact the Key Sectors of the Indian Economy? (Part 1)
- Technology
- Pharmaceuticals
- Media and Entertainment
- Real Estate and Infrastructure
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Mumbai & New Delhi:
Deloitte Haskins & Sells
(Confirmed - Awaiting Nomination) |
10:00 AM |
Session 9 |
How will the Implementation of IFRS Impact the Key Sectors of the Indian Economy? (Part 2)
- Power
- Telecom
- Retail
- Extractive
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Mumbai & New Delhi:
Deloitte Haskins & Sells
(Confirmed - Awaiting Nomination) |
11:00 AM |
Tea and Coffee Break |
11:30 AM |
Session 10 |
How will the Implementation of IFRS Impact the Key Sectors of the Indian Economy? (Part 3)
- Mutual Funds
- Venture Capital / Private Equity Funds
- Banking
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Mumbai & New Delhi:
Mr. V. Venkataramanan,
Technical Specialist, KPMG India |
12:30 PM |
Lunch |
01:30 PM |
Session 11 |
International Harmonisation and Convergence: Overview and Analysis
- Rationale for harmonisation and theoretical benefits
- Key stakeholders and political pressure for adoption
- Implementation challenges
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Mumbai & New Delhi:
Mr. Jamil Khatri,
Head-Accounting Advisory Services,
KPMG India
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02:30 PM |
Session 12 |
Harmonisation: Unveiling the Current Status Across Significant Economies
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Mumbai:
Mr. Rakesh Agarwal,
Associate Director, PWC
New Delhi:
Mr. Rahul Chattopadhyay,
Associate Director, PWC |
03:30 PM |
Tea and Coffee Break |
04:00 PM |
Session 13 |
Learning the Ropes: Harmonisation Process
- Elaborate on the key issues and problems faced by the harmonisation process across dev
- eloped countries
- Benefits v/s costs incurred
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Mumbai:
Mr. Rakesh Agarwal,
Associate Director, PWC
New Delhi:
Mr. Rahul hattopadhyay,
Associate Director, PWC |
05:00 PM |
Session 14 |
Accounting Firms: Expediting the Implementation of IFRS |
Mumbai & New Delhi:
Mr. V. Venkataramanan,
Technical Specialist,
KPMG India
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06:00 PM |
Closing |
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*Disclaimer: This is the proposed schedule which is subject to change & confirmation from all the speakers & participants. Dickenson reserves the right to make modifications anytime before the event. Visit www.vcindia.com for continuous programme and speaker updates. |
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