The Business Research and Training Center (BRTC) of the Faculty of Business Administration (FBA), University of Macau (UM) has successfully completed the 4th batch of International Financial Reporting Standards (IFRS) professional training, which took place over four consecutive weekends in October and November of 2023 at the university campus.

This latest series focused on two standards relating to Financial Instruments (IFRS7 and IFRS9).  The lectures dived deep into the concepts and treatment of Recognition and Measurement, Impairment, Hedge Accounting and Disclosures.  The series has attracted around 60 registrations, consisting of senior auditors and partners from Big 4 and other local accounting firms, financial analysts and top executives from financial institutions and manufacturing sector, as well as practitioners from the public, utilities and gaming sectors.

The executive training was conducted by experienced IFRS trainers, including Prof. Feng Tang and Mr. Derek Chan (both from UM), who are experts in the field. During the training sessions, participants received guidance on how to treat financial instruments in different scenarios and prepare disclosure reports that comply with international standards.   Both the BRTC and CPC are planning to organize more similar training programs in the future to help accounting practitioners in Macau stay up-to-date with international financial reporting standards, which will also benefit their clients.