Acumen

Tax departments continue to face the demands of accelerating accounting and regulatory developments along with the constant pace of change in tax law and regulation. As well, the impending conversion to IFRS in Canada presents significant tax challenges as the basis of accounting and requirements for ongoing valuation differ in many significant ways from Canadian GAAP. Some of these challenges are a direct consequence of IFRS tax accounting while others are more nuanced as business processes and valuation methodologies change under IFRS.

One thing is clear, however, from all organizations that have undergone the IFRS adoption process: the tax implications are significant and the tax function must be involved at the onset of the process. Further, the AcSB is expected to issue their Exposure Draft on Income Taxes later this year and IAS 12 is to be harmonized with FAS 109. The issue of Uncertain Tax Positions will not be addressed by the new standard, however, and all of these new developments will have an impact on Canadian organizations planning their IFRS conversion or reporting to U.S. regulators and tax authorities.

Income Tax Accounting and Reporting for Oil and Gas Companies has been specifically developed to take a comprehensive, integrated look at tax risks and financial reporting from two critical perspectives:

This information-packed conference offers a wealth of valuable, practical ideas for you and your company and, by registering now, you can also save up to $200.00 off the regular fees by taking advantage of our Early Bird pricing. Please review the enclosed program agenda and take advantage of the savings available until July 24^th.

This timely conference has been tailored to address the important questions you need answered in order to design and implement tax processes and controls to meet the requirements for complex reporting and interdepartmental coordination of information and data flows. This event will walk you through

Income tax accounting and reporting – IFRS convergence and GAAP differences
Accounting for incomes taxes in IFRS financial statements
Tax risk identification and management including IFRS convergence risks
Specific issues in income tax accounting and reporting for oil and gas companies
Disclosure requirements and financial statement presentation
Consolidating global operations for tax accounting purposes
Legal issues of concern arising from income tax accounting and reporting
Uncertain tax positions – SEC reporting and Canadian GAAP/IFRS differences
Planning and compliance for business combinations – the tax issues
Tax accounting and reporting for income funds and royalty trusts
Tax accounting for derivatives and hedging activities

As well, there is a half-day, practical workshop, IFRS – Developing an Effective Convergence Plan for Income Tax Accounting, that will enable you to work with seasoned experts from Ernst & Young LLP who will give you a greater applied knowledge of how to tackle this complex challenge. Please see the detailed workshop outline enclosed for full information on the session.

This signature event provides a first-hand opportunity to hear from, and speak with, leading national experts on tax risk management, income tax accounting and IFRS about these issues in your organization. In addition, you will have a unique opportunity to meet with your peers to discuss how they are responding to the challenges of this critical aspect of IFRS planning and ongoing financial reporting compliance.

On a personal note, I believe the quality and depth of information in our agenda speaks for itself and the comments from our past delegates clearly convey the value and usefulness of our events for them. I am proud to present this event and are confident it will meet your needs in this complex area. I hope to meet you personally in September and welcome you to an outstanding professional development experience.

Robert Hirsch

President
Acumen Information Services



	Income Tax Accounting & Reporting For Oil & Gas Companies Current Compliance & IFRS Convergence September 9-11, 2008 • Telus Convention Centre • Calgary Conference Overview Tax departments continue to face the demands of accelerating accounting and regulatory developments along with the constant pace of change in tax law and regulation. As well, the impending conversion to IFRS in Canada presents significant tax challenges as the basis of accounting and requirements for ongoing valuation differ in many significant ways from Canadian GAAP. Some of these challenges are a direct consequence of IFRS tax accounting while others are more nuanced as business processes and valuation methodologies change under IFRS. One thing is clear, however, from all organizations that have undergone the IFRS adoption process: *the tax implications are significant and the tax function must be involved at the onset of the process.* Further, the AcSB is expected to issue their Exposure Draft on Income Taxes later this year and IAS 12 is to be harmonized with FAS 109. The issue of Uncertain Tax Positions will not be addressed by the new standard, however, and all of these new developments will have an impact on Canadian organizations planning their IFRS conversion or reporting to U.S. regulators and tax authorities. Income Tax Accounting and Reporting for Oil and Gas Companies has been specifically developed to take a comprehensive, integrated look at tax risks and financial reporting from two critical perspectives: Provide an up-to-date summary of recent tax accounting and reporting developments, and Profile IFRS conversion issues from a tax accounting perspective. This information-packed conference offers a wealth of valuable, practical ideas for you and your company and, by registering now, you can also save up to $200.00 off the regular fees by taking advantage of our Early Bird pricing. Please review the enclosed program agenda and take advantage of the savings available until July 24^th. This timely conference has been tailored to address the important questions you need answered in order to design and implement tax processes and controls to meet the requirements for complex reporting and interdepartmental coordination of information and data flows. This event will walk you through Income tax accounting and reporting – IFRS convergence and GAAP differences Accounting for incomes taxes in IFRS financial statements Tax risk identification and management including IFRS convergence risks Specific issues in income tax accounting and reporting for oil and gas companies Disclosure requirements and financial statement presentation Consolidating global operations for tax accounting purposes Legal issues of concern arising from income tax accounting and reporting Uncertain tax positions – SEC reporting and Canadian GAAP/IFRS differences Planning and compliance for business combinations – the tax issues Tax accounting and reporting for income funds and royalty trusts Tax accounting for derivatives and hedging activities As well, there is a half-day, practical workshop, IFRS – Developing an Effective Convergence Plan for Income Tax Accounting, that will enable you to work with seasoned experts from Ernst & Young LLP who will give you a greater applied knowledge of how to tackle this complex challenge. Please see the detailed workshop outline enclosed for full information on the session. This signature event provides a first-hand opportunity to hear from, and speak with, leading national experts on tax risk management, income tax accounting and IFRS about these issues in your organization. In addition, you will have a unique opportunity to meet with your peers to discuss how they are responding to the challenges of this critical aspect of IFRS planning and ongoing financial reporting compliance. On a personal note, I believe the quality and depth of information in our agenda speaks for itself and the comments from our past delegates clearly convey the value and usefulness of our events for them. I am proud to present this event and are confident it will meet your needs in this complex area. I hope to meet you personally in September and welcome you to an outstanding professional development experience. Robert Hirsch President Acumen Information Services