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• M24032 -An introduction to Cost-Benefit Analysis (Online)

  • When
    7 May 2024
  •  
    13:30 - 16:45
  • Location
    Online Webinar

  Register

  Registration Time: 13:15
  Sessions Time: 13:30 - 16:45  including a 15-minute break
  Speaker: Mr Glenn Fenech
  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.

  Synopsis
  

  “Cost-Benefit Analysis” is a term often used to refer to a common-sense approach of undertaking a task only if the benefits outweigh the costs. In the infrastructure/ project finance space, a CBA actually refers to a defined methodology of undertaking separate assessments of both financial and economic benefits and costs, and the aim of this session is to explain the key principles behind the CBA approach, and present a number of practical examples. Specifically, this session will focus on two main aspects:
  (a) Need for and purpose of a CBA – When is a CBA needed, and what are its benefits/ applications?
  (b) Typical CBA methodology – overview of the methodological steps adopted in undertaking a CBA, in line with financial and economic principles, and specific guidance issued by entities such as the EIB and the EC.

  BACKGROUND INFORMATION

  The private and public sector are both faced with the ultimate economic question – how to make the best use of their finite resources. This applies to the construction of new physical facilities and equipment, infrastructure, new processes or systems, and investments in other types of assets. There are various investment tools that aid in such decision-making, with a Cost-Benefit Analysis being one such tool. A CBA has the double role of looking at both the financial position of the project promoter, as well as the wider position of the community or economy as a whole. In this regard, private sector entities often stop at the first part (i.e. their own financial impact), which is typically referred to as a financial feasibility study. A CBA goes a step further by looking at the internalisation of wider benefits and costs that are likely to result from the project being looked into. As a result, this further part delves into the economic benefits and costs.

  objectives of this session

  The objective of this session is to discuss and attempt to answer the following questions:
  When is a CBA needed? For which project/ entity is it mostly relevant? What are the benefits of adopting a CBA approach? What does the CBA methodology consist of? What are the quantitative aspects of a CBA relate to? How should the results of a CBA be interpreted?
  These questions will be explored in the context of both the theoretical underpinnings (as indicated in CBA guidelines provided by the EC or EIB) and practical CBA case studies.
  

  SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

  • Decision-making under a finite resource situation

  • Investment tools

  • CBA – its role

  • CBA applications

  • CBA methodology

  • Project perimeter

  • Options Analysis

  • Financial Analysis

  • Economic Analysis, including examples of economy benefit estimation

  • Risk Analysis

  • Common pitfalls

  Target Audience

  This seminar is relevant for all professionals, government officials and private sector officials, students and anyone having an interest in understanding how a CBA is developed, and its interpretation.
  

  Speaker's Profile

  Mr Glenn Fenech is an economist by profession, focusing on Valuations, Modelling and Economics within the strategy and transactions practice at EY Malta.Over the past 15 years he has been involved in a number of significant engagements for both public and private sector clients, including a feasibility study to analyse the financial and economic viability of hydrogen use in transport; a national study to empirically assess the adequacy and efficacy of unemployment benefits in Malta, as framed within the strategic objectives of the European Council Recommendation on access to social protection for workers and the self-employed; an evaluation to assess the impact on car registration tax and annual licence resulting from the change in emission test; co-authored Malta’s national employment policy 2021 – 2030; and developed a national tourism vision and strategy post COVID for the Malta Chamber of Commerce, Enterprise and Industry.
  He has also supported several start-ups spread across different sectors, with the preparation of business plans and financial projections, as well as provided technical assistance with the identification and application of public and private funding opportunities.

  EveNT CPE COMPETENCies

  
  

  3  Core

  
  

  WEBINARS TERMS AND CONDITIONS

  Terms and conditions  apply

  
  

  DISCLAIMER

  By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

  Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.

  Show details
• M24019 - Consolidation Masterclass - A Nine Hour Package (Online)

  • Start
    15 May 2024
  •  
  • End
    22 May 2024
  •  
  • Schedule
    3 sessions
  • Location
    Online Webinar

  Register

  Registration Time: 09:00
  Sessions Time: 09:15 - 12:30  including a 15-minute break
  Speakers: Mr Neville Saliba, Mr John Debattista & Mr Tristan Agius
  Venue:   Online Webinar

  Participation Fees (The Institute is now accepting payments via Paypal)
  MIA Members: €110.00

  Non-MIA Members: €215.00

  Retired Members: €50.00

  Students: €80.00

  BACKGROUND INFORMATION

  The theoretical sections of the session aim to equip participants with the required knowledge to exercise the right judgement when determining the necessity to consolidate. The practical component aims to provide attendees with the expertise required for the preparation of consolidated financial statements, aligning with professional standards and requirements.

  SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

  SESSION 1 – Theory:

  This session aims to provide a comprehensive overview of consolidations in financial reporting, addressing:

  • The Companies that need to consolidate and the companies that do not.

  • An overview of Companies Act provisions regulating consolidated financial statements.

  • A compare and contrast exercise between IFRS and GAPSME.

  •  Resolving conflicts between different laws and regulations.

  • A sound theoretical foundation before applying the practice, i.e. discussion of concepts and practical applications of notions such as control, goodwill, consolidated retained earnings, the main consolidation adjustments and non-controlling interest (NCI).
  • Concluding theoretical remarks and summaries.

  SESSION 2: Practice (Basic):

  This session focuses on consolidation techniques through a series of case studies. Participants will gain practical insights into diverse scenarios, including:

  • Consolidation of a fully-owned subsidiary

  • Consolidation of a subsidiary that is not fully-owned using the share of net assets method.
  • Consolidation of a subsidiary that is not fully-owned using the fair value method.
  • Consolidation of a subsidiary that is also a customer.
  • Consolidation of a subsidiary that is also a supplier.
  •  Consolidation of a subsidiary that distributed a dividend.
  • Consolidation of a subsidiary acquired by cash. 
  • Consolidation of a subsidiary acquired by deferred consideration. Consolidation of a subsidiary acquired by granting of acquirer’s shares.
  • Consolidation of a subsidiary acquired, of which the asset fair values differ from carrying amounts.

  SESSION 3: Practice (Advanced):

  • This session delves into advanced consolidation topics, addressing:
  • Complex group structures
  • Subsidiaries in foreign currencies
  • Impairment issues
  • Deferred tax issues
  • Accounting treatment of step-acquisitions:

            From no influence to control 

            From influence to control
             From control to control

  • Accounting treatment of disposals:

              F rom control to zero
              From control to no influence
              From control to influence
              From control to control

  Why is the session of relevance to our members?

  Members and likewise non-members of the MIA should attend as the session should provide:

  • An understanding to the criteria which trigger the requirement to consolidate, supported by insights into the application of these criteria in practice;
  • Insights into the main consolidation procedures which are required through both basic illustrative case studies as well as more advanced scenarios, which will be simplified in the interest of understandability.

  Target Audience

  The course is specifically targeted to accounting professionals and students, especially those who are pursuing or intend to pursue a career in audit or financial reporting. 

  Speakers' Profiles

  Neville Saliba graduated from the University of Malta in 2020 after the completion of the Master in Accountancy Degree. He joined the Accounting Advisory department at Zampa Debattista in 2022, prior to which he gained experience in client accounting at one of the big-four firms. In 2023, Neville has taken up the role of a Financial Reporting Team Leader at Zampa Debattista allowing him to specialise further in IFRS, Consolidations, Conversions between different financial reporting frameworks, GAPSME and ESG reporting. During his career Neville has lectured the Financial Reporting module for ACCA as well as actively delivers several lectures on his areas of specialisation.

  John Debattista is a Certified Public Accountant and Registered Auditor. He is a founding partner at Zampa Debattista, heading the Audit and Assurance function as well as the firm’s Corporate Reporting Advisory team. Throughout his career, John has lectured numerous audit and financial reporting modules in the final stages of the ACCA and ACA qualifications for the ICAEW, Institute of Chartered Accountants in England and Wales. He has lectured the ACCA Diploma in IFRS (DipIFR) and has been a guest speaker during audit and financial reporting seminars organised by various institutes in Malta. His areas of specialisation include the financial services industry, the gaming industry, and the hospitality industry. He has worked in Zurich, Bucharest, Vienna, and London on several ad hoc assignments. 

  Tristan Agius has been part of Zampa Debattista's Audit Team since 2018 and currently holds the position of audit manager. Through his work experience, he was exposed to assurance assignments on gaming companies, pension funds, shipping and retail. In addition, Tristan also lectures the ACCA's Audit & Assurance module. 

  EVeNT CPE COMPETENCies

  
  

  9  Core

  
  

  WEBINARS TERMS AND CONDITIONS

  Terms and conditions  apply

  
  

  DISCLAIMER

  By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

  Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.

  Show details
• M24036 - IAS 38 Intangible Assets (Online)

  • When
    3 Jul 2024
  •  
    09:15 - 12:30
  • Location
    Online Webinar

  Register

  Registration Time: 09:00

  Sessions Time: 09:15 - 12:30 (with a 15 min break)
  Speaker: Mr Kevin Vassallo
  Venue:   Online Webinar
  

  Participation Fees 
  MIA Members: €40.00

  Non-MIA Members: €75.00

  Retired Members: €20.00

  Students: €30.00

  *Group bookings for 3 or more participants available.

  BACKGROUND INFORMATION

  IAS 38 Intangible Assets outlines the accounting requirements for intangible assets, which are defined as non-monetary assets without physical substance but which are identifiable, being either separable or alternatively arising from contractual or other legal rights. Intangible assets meeting the relevant recognition criteria are measured initially at cost and subsequently either at cost less accumulated amortisation and impairment losses (if any) or else using the revaluation model. The revaluation model however may only be adopted if fair value can be determined by reference to an active market. Such active markets are expected to be uncommon for intangible assets but examples where these exist may include production quotas, fishing licences taxi licences.
  Amortisation is calculated on a systematic basis over the useful life of the asset (unless an asset has an indefinite useful life such as purchased goodwill in a business combination, in which case amortisation does not apply).
  IAS 38 was revised in March 2004 and applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March 2004. Subsequent developments occurred in 2008/9 as part of the improvements project to IFRSs, in 2013 as a result of annual improvements  and finally in 2014 by way of clarification of acceptable methods of depreciation and amortisation.

  Specific topics to be covered during the sessioN

  • Objective and scope of the standard

  • Key definitions

  •  Recognition

  • Initial measurement

  • Measurement subsequent to acquisition

  • Classification based on useful life

  • Subsequent expenditure

  • Disclosure requirements

  WHY IS THE SESSION OF RELEVANCE TO OUR MEMBERS?

  Members and non-members as well as advanced accounting students will find the contents of this seminar useful within the context of their development and understanding of the complexity of intangible assets. The seminar will assist them in obtaining a better insight of the measurement and recognition criteria together with the disclosure requirements necessary for a user’s proper understanding of intangible assets and the impact that these resources may have on an entity’s present position and likely future performance.

  Target Audience

  This seminar is intended for accounting professionals and student accountants who practice in industry as well as those pursuing a career in auditing.

  SPEAKER'S PROFILE

  Kevin is a certified public accountant by profession who holds a post-graduate degree in the science of finance. He is currently Chief Officer Treasury and Projects at the Malta Development Bank, having previously occupied the post of Director Finance at the MFSA. Prior to that, he was a senior executive at the Central Bank of Malta for 28 years where he gained valuable experience in accounting, internal audit, human resources management, portfolio management and risk management. He has been lecturing and delivering CPE seminars for the past 25 years. His areas of expertise include accounting and financial management and he has in the past lectured in related subjects for ACCA, ACA and various MBA programmes.

  EVENT CPE COMPETENCies
  

  3 Core

  
  

  WEBINARS TERMS AND CONDITIONS

  Terms and conditions  apply

  
  

  DISCLAIMER

  By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

  Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.

  Show details
• M24044 - PPE And Investment Property Under GAPSME (Online)

  • When
    4 Jul 2024
  •  
    09:15 - 12:30
  • Location
    Online Webinar

  Register

  Registration Time: 09:00

  Sessions Time: 09:15 - 12:30 (with a 15 min break)
  Speaker: Mr Paul Zammit
  Venue:   Online Webinar
  

  Participation Fees 
  MIA Members: €40.00

  Non-MIA Members: €75.00

  Retired Members: €20.00

  Students: €30.00

  *Group bookings for 3 or more participants available.

  BACKGROUND INFORMATION

  Entities may own material tangible assets that they expect to use for more than one period. Such tangible assets could be held for a variety of purposes, such as for operations, for administration, for rental to others or for capital appreciation.
  Such tangible assets may meet the definition of PPE (Property, Plant and Equipment) or investment property.
  This session will cover the accounting considerations, and treatment for PPE and investment property, under both GAPSME and IFRS.
  During the session, we’ll also cover several challenging areas that may be encountered by accounting professionals in practice.

  Specific topics to be covered during the sessioN

  • In the session’s introduction, we’ll cover the meaning of PPE and investment property, the fact that classification is driven by purpose and the reason why we capitalise.

  • Part two of the session will be dedicated to PPE. We’ll cover the general accounting principles to be applied for PPE under both IFRS and GAPSME, from the moment that PPE is initially recognised up to the point of eventual derecognition of the asset.

  • The third part of the session, related to investment property, will be similar in some ways to the previous one, but will also include some special considerations, such as the differences between IFRS and GAPSME treatment for investment property, the situations where the classification as PPE or investment property is not that clear, and the correct accounting treatment when there is evidence of a change in purpose.

  • In part four of the session, we’ll delve into some of the complexities faced by professionals in relation to PPE and investment property in practice.

  WHY IS THE SESSION OF RELEVANCE TO OUR MEMBERS?

  Members should attend both if they encounter challenges when accounting for PPE and investment property, and also if they would like a general refresher about the topic.

  Non-members should attend if they are studying accounting or if they are users of financial statements that want to understand better the meaning of disclosures relating to PPE and investment property.

  
  

  Target Audience

  This session is mainly targeted towards accounting professionals, but it will be also of great value to 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.

  EVENT CPE COMPETENCies
  

  3 Core

  
  

  WEBINARS TERMS AND CONDITIONS

  Terms and conditions  apply

  
  

  DISCLAIMER

  By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

  Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.

  Show details