About this Course

The commodities industry has been making the news in recent months.

This workshop seeks to answer the frequently asked questions by analysts and market participants, and clarify the pertinent issues surrounding the accounting for biological assets.

Research papers and various reports by fund houses have converted what used to be a technical issue in accounting—fair value—into a public debate and a point of bitter contention in the business community. 

This workshop has two key purposes: to summarize the key points of the debate and to articulate a balanced perspective on the issues.

The trainer will share with you his real life experiences, easy-to-understand examples, fun facts and illustrations to help explain the valuation and financial reporting of biological assets.

Programme Outline 

1. Understanding International Accounting Standards (IAS) 41: Agriculture

• The Scope of IAS 41 – Which is Included and Excluded
  
• Common Examples of Agricultural Activities and Biological Assets
  
• Key Points in IAS 41 on Measurement, Disclosure & Presentation of Biological Assets
  
• Why Carry Biological Assets at Fair Value
  

2. Addressing the Key Accounting Issues on:

• Fair Value Accounting
  
• Treatment of Realised and Unrealised Gains
  
• Alternative Methods of Revenue Recognition
  
• Other Issues
  

3. Case Studies and Examples on the Adoption of IAS 41

• Practical Case Examples in Asia-Pacific
  
• Red Flags and Causes for Concern
  
• Best Practices on Fair Value, Realised/Unrealised Gains and Revenue Recognition
  
• Areas of Judgement and the Auditors’ Role
  

4. Playing Detective - Insights and Analysis

• How do 45 Agriculture Listed Companies in China Report Biological Assets in their 2012 Annual Reports
  
• Top 4 Reasons for the Problems in Biological Assets Disclosure
  

5. The Road Ahead for Valuation and Financial Reporting of Biological Assets

• Marking to Market – How Far is Far Enough?
  
• Top 10 Things to Look at When Analysing a Commodities Firm
  
• Quiz Time – “Who Wants to Survive in Muddied Waters?”
  

In addition, the trainer will provide you a checklist of the Top 10 Standards that will likely impact agriculture entities between 2013 and 2016, including an analysis of the key accounting changes. Some changes represent a significant challenge for those involved in financial reporting in the agriculture industry.

Why Attend this Course? Why this One?

The answer is communication. This workshop will help you better understand the language of accounting. 

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.

Intended For

Anyone who wishes to expand and enhance their knowledge, skills and abilities to effectively and efficiently analyse a company’s financial statements; understand the danger signs of creative accounting; and acquire the tools and techniques to spot a scam.

Training Methodology

Workshop style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Think Tank Time’, ‘Talk to Your Neighbour’, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as end-of-day quiz “Who Wants to Survive in Muddied Waters?” which will help reinforce the learning concepts and outcomes.

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