Acumen

IFRS conversion is imminent and yet financial instrument and hedging standards are in a major state of flux. IAS 39 replacement is a major re-working of the most complex standard in accounting. With significant parts of IFRS 9 out for comment and the much-anticipated hedging component due any day now, you not only need to master the intricacies of IAS 39 for initial conversion but also how pending changes will affect your accounting and risk management practices is this vital area.

The past two years have presented financial executives with unprecedented challenges to operational capital, their bottom lines and market capitalizations. Market volatility has both vindicated and challenged hedging assumptions but more than ever financial risk management is a critical tool. The most recent quarter was highlighted by significant currency volatility with the euro dropping against the US dollar and yen. Given the current economic climate, volatility swings can have a major impact on your bottom line and ongoing financial statement presentation.

Financial instrument accounting, and impairment in particular, has presented significant compliance challenges over the past two years. The result has been several quick adjustments to accounting in this complex area, changes to the fair value accounting model and a fast-tracking of the complete overhaul of IAS 39. Despite significant harmonization with IFRS standards in Canada, there still remain significant differences posing operational and financial statement challenges that must be managed as you fully convert to IFRS.

While the IAS replacement standards are not expected to be mandatory until 2013, those converting next year face the daunting choice of opting for early adoption of these new requirements or facing a second conversion for these standards in two short years. Given the complexity of this area from an operational perspective, companies will want to clearly understand the options and the related implications of the choice they have to make.

Financial Instruments & Hedging Relationships for Oil & Gas Companies provides the most complete examination of this technical material that you will find anywhere in Canada. With a user’s focus on compliance and IFRS conversion, this event will walk you through

IFRS for financial instruments including IFRS 9
IFRS valuation issues for oil and gas including the fair value exposure draft
Hedging relationships under IFRS
Hedging and hedge accounting under IFRS – pros, cons and costs
Disclosure and financial statement presentations
Effectiveness testing measuring effectiveness using current IFRS
Oil and gas/energy hedging – IAS 39 and IFRS 9
Working with IAS 39 for FX, Commodity and interest rate hedging including IFRS 9 changes
Hedging strategies and tools
Regression analysis for ineffectiveness testing and measurement

As well, there is a full day, practical workshop that will enable you to work with a seasoned expert in financial instrument accounting who will give you a greater applied knowledge in this technical subject. Please see the detailed workshop outline for full information on this session.

Our faculty of accounting and financial risk management experts will highlight for you not only the technical issues to be aware of but also their practical implications for your ongoing business operations. The objective of the event is to provide an informative update as well as a forum to which you can bring your own issues and concerns to obtain informed guidance.

In addition, you will have a unique opportunity to meet with your peers to discuss how they are responding to the challenges of new developments for financial accounting and reporting



	FINANCIAL INSTRUMENTS & HEDGING RELATIONSHIPS FOR OIL & GAS COMPANIES November 16 - 18, 2010 • Calgary Conference Overview IFRS conversion is imminent and yet financial instrument and hedging standards are in a major state of flux. IAS 39 replacement is a major re-working of the most complex standard in accounting. With significant parts of IFRS 9 out for comment and the much-anticipated hedging component due any day now, you not only need to master the intricacies of IAS 39 for initial conversion but also how pending changes will affect your accounting and risk management practices is this vital area. The past two years have presented financial executives with unprecedented challenges to operational capital, their bottom lines and market capitalizations. Market volatility has both vindicated and challenged hedging assumptions but more than ever financial risk management is a critical tool. The most recent quarter was highlighted by significant currency volatility with the euro dropping against the US dollar and yen. Given the current economic climate, volatility swings can have a major impact on your bottom line and ongoing financial statement presentation. Financial instrument accounting, and impairment in particular, has presented significant compliance challenges over the past two years. The result has been several quick adjustments to accounting in this complex area, changes to the fair value accounting model and a fast-tracking of the complete overhaul of IAS 39. Despite significant harmonization with IFRS standards in Canada, there still remain significant differences posing operational and financial statement challenges that must be managed as you fully convert to IFRS. While the IAS replacement standards are not expected to be mandatory until 2013, those converting next year face the daunting choice of opting for early adoption of these new requirements or facing a second conversion for these standards in two short years. Given the complexity of this area from an operational perspective, companies will want to clearly understand the options and the related implications of the choice they have to make. Financial Instruments & Hedging Relationships for Oil & Gas Companies provides the most complete examination of this technical material that you will find anywhere in Canada. With a user’s focus on compliance and IFRS conversion, this event will walk you through IFRS for financial instruments including IFRS 9 IFRS valuation issues for oil and gas including the fair value exposure draft Hedging relationships under IFRS Hedging and hedge accounting under IFRS – pros, cons and costs Disclosure and financial statement presentations Effectiveness testing measuring effectiveness using current IFRS Oil and gas/energy hedging – IAS 39 and IFRS 9 Working with IAS 39 for FX, Commodity and interest rate hedging including IFRS 9 changes Hedging strategies and tools Regression analysis for ineffectiveness testing and measurement As well, there is a full day, practical workshop that will enable you to work with a seasoned expert in financial instrument accounting who will give you a greater applied knowledge in this technical subject. Please see the detailed workshop outline for full information on this session. Our faculty of accounting and financial risk management experts will highlight for you not only the technical issues to be aware of but also their practical implications for your ongoing business operations. The objective of the event is to provide an informative update as well as a forum to which you can bring your own issues and concerns to obtain informed guidance. In addition, you will have a unique opportunity to meet with your peers to discuss how they are responding to the challenges of new developments for financial accounting and reporting