| TUESDAY 28th MARCH 2006 |
| 08.30 |
|
Registration and Coffee |
| 09.00 |
|
Opening Address from the Chair, Dale Clark, Partner, KPMG |
09.10 |
Dale Clark
Partner
KPMG |
Tracing the changes in the accounting rules and their impact on future Telco strategy: a status report on IASB´s and FASB´s joint project on "performance reporting"
- Assessing the current affect of the IFRS on the European Telco market
- What amendments are expected for the IFRS 3 draft and how will they impact Telco M&A transactions?
|
| 09.50 |
Michael Brücks
Vice President Accounting Principles and Policies
DEUTSCHE TELEKOM |
International Financial Reporting Standards vs. national and US accounting standards: how to handle the differences?
- Examining the key differences and similarities between EU GAAP & IFRS: are they partly interchangeable?
- IFRS or US GAAP conversion?
- How to implement the two from a local standard standpoint?
|
| 10.30 |
|
Morning refreshments |
| REVENUE RECOGNITION POLICIES AND PROCEDURES UNDER IFRS |
| 11.00 |
Alecos Papadopoulos MSc CIA, Finance & Administration Dpt Manager
HELLAS ON LINE |
Harnessing revenue recognition in financial statements
- If "cash is king", why bother with revenue recognition? - Recounting first principles to remember what we are after in a Profit & Loss statement
- Do sales and invoicing policies need to take into account IFRS rules for revenue recognition?
- Underpinning transactions allowing you to recognize revenue prematurely
- Successfully ensuring that all revenue recognition criteria are identified and met
|
| 11.40 |
Edgar Borg
Group Finance Director
MALTACOM |
Reviewing IAS 18 through both generic and case-study perspectives
This talk will review the key tenets of IAS 18 and also inform participants about the framework that supports an application of IAS 18 by emphasizing the need to consider substance over form in such transactions. It will be followed by a series of specific case studies with the primary objective being to discuss the concepts highlighted in the first part of the `generic presentation` and provide concrete scenarios as to how the concepts discussed above may be also applied in practice. |
| 12.40 |
|
Lunch |
| 13.50 |
Edgar Borg
Group Finance Director
MALTACOM |
Revenue recognition approaches under IAS18: real-life case studies from Maltacom
- Agent vs. principal
- Substance over form
- Fee recognition
- Sale with buyback agreement
- Bill and hold
|
| 15.00 |
Ally Juma
Finance & Management Accountant
ZANTEL |
Discussing the revenue recognition of interconnection fees
- Principle of barter agreements under IAS 18
- Should interconnection fees be recognised as revenue net (being essentially a barter agreement) or as revenue gross? Under what circumstances?
- Revealing the importance of properly evaluating the commercial reality of a transaction
|
| 15.40 |
|
Afternoon refreshments |
| SUCCESSFULLY MEETING THE LATEST COST TREATMENT CHALLENGES |
| 16.10 |
Jens Faarup
Financial Director
SONOFON |
Discussing the challenges surrounding impairment testing
- Impairment testing of intangible assets
- The particular case with goodwill impairment
- Impairment of tangible assets
- Decomposition of fixed assets
|
| 16.50 |
Steven Brice
Head of IAS
Technical Partner
MAZARS |
Charting the course ahead: reflecting the latest IASB thoughts and likely implications for the Telecoms sector for 2006/7
- An update on real-life IFRS issues, using illustrative examples from the telecoms sector arising from first-time application of IFRS in 2005
- A look forward to some of the forthcoming developments on the IASB agenda, including:
- Business combinations (Phase II update)
- Conceptual framework (FASB/IASB project)
- Performance reporting
|
| 17.30 |
|
Closing remarks from the Chair and close of conference |
