IFRS 9 Financial Instruments

Course description

This course, as well as all our other programmes, can be delivered as in-company virtual live training or in-person course in your office, in any location worldwide. Please contact us to discuss your requirements. 


International Financial Reporting Standard 9 (“IFRS 9”) is the accounting standard replacing IAS 39 Standard for financial instruments and defines the classification, measurements and impairment of financial instruments. It is designed to make annual reports more meaningful to investors as well as simplify how auditors implement the rules and introduce safeguards to limit credit losses.

In July 2014, after several years of delay, the accounting regulators published the final text of IFRS 9. This combines revised versions of previously published sections with the first publication of the final and most controversial impairment section. IFRS 9 became effective in 2018.

This practical, computer based, 1 day course conducted by an expert with over 20 years of experience from the sector will look at treatment and calculation of different financial ratios under IFRS 9. Through many case studies and practical examples you will explore the requirements for recognition and measurement, impairment, derecognition and hedge accounting.

Due to the nature of this program participants are required to bring laptops. We can provide one for additional fee.

What will you learn

Through a mix of lecture and case studies, the workshop will equip participants to achieve a detailed understanding of the latest IFRS 9 standard, both for financial assets, liabilities and derivatives, including:

  • The classification and measurement of financial instruments
  • The new impairment methodology based on expected losses
  • The fair value of financial liabilities and deterioration of institutions’ own credit
  • The different types of hedge accounting and the recent IFRS changes

Main topics covered during this training

  • Introduction to IFRS 9 – Explanation, timeline, difference with IFRS 39
  • Financial Assets Classification & Measurement
  • Analysing Amortised Costs, Fair value through Profit & Loss (FVTPL) and Fair value through Other Comprehensive Income (FVTOCI)
  • Accounting treatment determined by (i) business model (ii) nature of cash flows
  • Decision tree for classification of financial instruments
  • Balance sheet and P&L calculation of a bond at FVTPL and FVTOCI
  • Financial Assets Impairments
  • Financial Liabilities & Own Credit
  • Hedge Accounting
  • You will be working on real-life case studies

Who should attend

  • FIG Analysts / Associates
  • Equity Research Professionals
  • Finance Team Members from Corporations and Banks
  • Bank Risk Managers
  • Analysts


IFRS 9 Financial Instruments - A 1 Day Training Course

Session 1 – Introduction

  • What is IFRS 9? How does it differ from IAS 39?
  • What are financial assets and financial liabilities?
  • IFRS 9 history and implementation overview

Session 2 – Financial Assets Classification & Measurement

  • Presentation of the three different categories
    • Amortised Costs;
    • Fair value through Profit & Loss (FVTPL);
    • Fair value through Other Comprehensive Income (FVTOCI)
  • Accounting treatment determined by (i) business model (ii) nature of cash flows
  • Decision tree to decide on classification of financial instruments
  • Balance sheet and P&L calculation of a bond at amortized cost
    • Based on the Internal Rate of Return (IRR) of future cash flows
    • Treatment of fees in the IRR calculation
  • Balance sheet and P&L calculation of a bond at FVTPL and FVTOCI
    • Effective interest rate method for interests (same as amortised costs)
    • Unrealised gain based on NPV at current yield of future cash flows
  • Reminder on determining fair value
    • Level 1 based on unadjusted quoted price
    • Level 2 based on quoted price in inactive markets or observable model input
    • Level 3 based on unobservable but significant inputs to the overallvalue

Case Study #1: participants will be presented with a few financial instruments and will classify them in their relevant categories 

Case Study #2: participants will compute on Excel the impact on balance and P&L for different types of debt & equity instruments

Session 3 – Financial Assets Impairments

  • Applies to amortized cost and FVTOCI mandatory fixed income instruments
  • Incurred losses (IAS 39) has been replaced by expected losses (IFRS 9)
  • Three stages process to determine impairments
    • Stage 1: “12-month expected credit losses” with effective interest rate on gross on gross carrying amount
    • Stage 2: “life-time expected credit losses” with effective interest rate on gross on gross carrying amount
    • Stage 3: “life-time expected credit losses” with effective interest rate on gross on amortised costs
  • Accounting treatment for financial instruments already impaired when acquired 

Case Study #3: participants will assess the credit deterioration of a Greek bond throughout the crisis and its different stages

Session 4 – Financial Liabilities & Own Credit

  • Financial liabilities at amortised cost or FVTPL
  • Own credit deterioration reduces institutions’ liabilities
  • Liability reduction due to rating downgrade to be now classified in OCI

Case Study #4: participants will assess the impact on credit deterioration on institutions’ own bonds 

Session 5 – Hedge Accounting

  • Qualification for hedge accounting
  • Different types of hedge accounting, same as IAS 39, except for time value of money and forward points in foreign exchange forward
    • Cash flow hedge
    • Fair value hedge
    • Net investment hedge for foreign subsidiaries
  • Accounting treatment for time value of money for options: a two-step process through OCI
  • Accounting treatment for foreign currency forward points in OCI
  • IFRS 9 hedge accounting more closely aligned to risk management policy
    • Removal of hedge effectiveness criteria (80% to 125%)
    • Extends eligibility of risk component to include non-financial items
    • Permits aggregate exposure that includes a derivative to be eligible hedged item
    • Group of items and a net position (e.g. assets & liabilities or forecast sales & purchases) hedged collectively as group

Case Study 5: participants will classify a few hedging transactions in their relevant categories

Case Study 6: participants will value an interest rate swap accounted for as a cash flow hedge

 Case Study 7: participants will review and assess different hedge scenarios including risk component hedging, aggregate exposures and net position





Course Director is an experienced Corporate Finance professional with over 20 years’ experience in M&A and capital market transactions. He has successfully completed in excess of EUR 30 billion across multiple geographies (US, Europe, MENA).He began his career as a Credit Analyst at Banque Continentale in Luxembourg, before moving to the Investment Banking division at Citigroup (ex-Salomon Smith Barney) in London and New York where he worked on variety of M&A, LBO and debt offerings, mainly for financial services clients. He became Vice-President in the internal M&A department of Barclays Bank in London before moving on to a Directorship role at the Investment Banking division of Commercial International Bank (CIB), Egypt. Whilst there, he successfully completed several transactions including two sell-side M&A, one follow-on equity offering and a delisting. He worked extensively with leading sovereign wealth funds, private equity firms and prominent families in the Middle East.

Serge has an MBA from the Kellogg School of Management in Chicago and a Bachelor of Science from the International Management Institute of Paris.



We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.

Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.

In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.

Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.

In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).

In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.

Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.

Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.

Dress code is smart casual.

All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.

The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.

We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.

In order to understand your requirements and expectations, we will send you a pre-course questionnaire.

You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.

There are 2 easy ways to register:

  1. Go to the course of your choice and click Register Now button to fill the registration page
  2. Email us to enquiry@eurekafinancial.com

After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.

If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.

We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.

We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.

You can pay by:

  • Making a bank transfer
  • Debit/credit card
  • Cheque payable to Eureka Financial Ltd. - only within UK

Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.

If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.

Included in the price of a public course are:

  • Course tutorial
  • Take away course materials
  • Course Certificate
  • Lunch on the days of the training as well as drinks and snacks throughout the course

The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.

Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.

If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.

If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.

See our Customer Loyalty Discounts page for more details.

All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.

You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:

For Delegates coming from the EU countries

If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the UK
  • You don't make any supplies in the UK

You can find some more information here. In order to claim the VAT you have to fill Form 65.

For the Delegates from Non EU countries

If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the EU
  • You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
  • You don't make any supplies in the UK

If the following rules apply to you, please fill the 65A form and send it to HMRC.


You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.

Classroom Courses

If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.

If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.

Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.

All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.

Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.

Yes, you will receive a Certificate of Attendance at the end of the course you attend.

If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.

It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.

Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.

We will need the following information to issue an invitation letter:

  • Full name as it appears on your passport
  • Date of birth
  • Passport number
  • Passport issue date
  • Passport expiry date

This topic can be arranged on in-company basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements



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