Moore Greece online course Accounting for Restructuring of Debt for shipping accountants, controllers & finance directors aims to refresh main IFRS concepts.
Who should attend: Accountants and shipping accountants, controllers and finance directors, who work within the maritime sector.
Objectives and benefits: The masterclass aims to refresh the main IFRS concepts relevant to this subject and to take the participant through a thorough example that covers the full implementation of these concepts. US GAAP differences are also covered as commentary.
- Recap the term of debt restructuring:
- Legal forms of debt restructuring.
- Exchange or modification of debt by the original lender.
- Tests to determine whether the modification is substantial or not.
- The role of fees in the 10% test.
- Go through a practical example in detail, that outlines the following scenarios:
- Extension of the duration of the loan.
- Change in the interest rate.
- Waiver of interest payment.
- Discuss the differences between IFRS and US GAAP in this area.
Legislation & References: Industry practices