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M24007 - Financial Instruments under IFRS and GAPSME (Online)

  • 5 Mar 2024
  • 13:30 - 16:45
  • Online Webinar


Registration Time: 13:15
Sessions Time: 13:30 - 16:45  including a 15-minute break
Speaker: Mr Paul Zammit
Venue:   Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.


This session will tackle, via a combination of theory and practical examples, the accounting treatment of financial instruments under the locally applicable reporting frameworks (IFRS and GAPSME). The session will cover the accounting by both issuers and holders, but in the case of holders, it will be restricted to situations where holders do not ‘enjoy’ control, joint control or significant influence over investees.
Still, the topic within the scope of the session stands out as one of the most complex, if not the most complex, in financial reporting, as evidenced by the combined length and detail of currently effective IFRS standards, that is IFRS 9, IAS 32 and IFRS 7.
The purpose of this 3-hour session will not be to go into such detail to an exhaustive extent, but to provide attendees with an overview of the thought process to apply when accounting for financial instruments. The thought process for GAPSME preparers differs from the one applied by IFRS preparers, and this distinction will be clear during the session.


The session's introduction will serve to clarify what we mean, within the context of the session's objectives, by financial instruments. Also, we will distinguish between an issuer and a holder of a financial instrument, whilst defining financial assets, financial liabilities and equity.
During the first part of the session, we shall delve into financial assets under GAPSME. Attendees shall be guided as to how to classify and measure financial assets when applying GAPSME.
The second part of the session shall also tackle the classification and measurement of financial assets, but this time, the analysis will be from an IFRS perspective. Attendees will notice that the thought process changes considerably, compared to GAPSME.
Part three of the session will be dedicated to the concept of impairment of financial assets. We will be comparing and contrasting the GAPSME incurred loss model with the IFRS expected credit loss model.
During the rest of the session, we will be mainly looking at financial instruments contracts from the issuer's point of view. Moreover, as we approach the end of this CPE session, the focus shall be on equity and financial liabilities.
The session is also expected to cover some special considerations in connection with financial instruments, but these will be sprinkled throughout the different parts of this CPE.
We'll wrap up the session with a concluding summary that is expected to leave participants with renewed clarity in relation to the accounting for financial instruments under IFRS and GAPSME.

Why is the session of relevance to our members?

Members, as well as accountants that are not members, will find it useful, within the context of their profession, to understand the thought process required when accounting for financial instruments under different reporting frameworks that apply locally. Other non-members that attend the session will be in a better position to understand financial statements of entities that were parties to contracts of financial instruments during the periods being reported.

    Target Audience

    Accounting professionals and accountancy students.

    Speaker's Profile

    Mr Paul Zammit is a financial reporting specialist at NM Group. Paul graduated in accounting at the University of Malta in 2008. Paul started his career in auditing, and switched to accountancy in 2012. Since 2017, Paul has specialised in financial reporting (IFRS and GAPSME). During the last seven years, Paul has been involved in several financial reporting advisory engagements and has also accumulated significant experience in lecturing financial reporting papers (including ACCA and ACA). Paul is currently a member of the MIA financial reporting committee.


    3  Core


    Terms and conditions  apply


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    Contact Us

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    E-mail: info@miamalta.org

    Tel. +356 2258 1900