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Covid19: Impairment testing & business valuation

18 & 19 March 2021 | 9:00 a.m. – 12:45 p.m. | 6,5 CPD

18 & 19 March 2021 | 9:00 a.m. – 12:45 p.m. | 6,5 CPD

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Important Note

Please note that KPMG will offer this training face-to-face at KPMG offices in Nicosia, should there is a considerable decrease in COVID-19 cases in Cyprus, the level of contamination through physical gatherings is relatively low and the government restrictions allow this adjustment. In such a case, the seminar will be conducted on 18 March 2021. Further information will be communicated to you in due course.

Webinar’s overview

The emergence of COVID-19 may have a significant impact on financial reporting and particularly on fair value estimation and impairment assessments. Therefore, it is considered imperative that professionals and management staff understand how COVID-19 may affect the valuation process, in the context of fair value and impairment testing. This training will provide insights on how key valuation parameters may change, as a result of the pandemic and how to capitalize on the lessons learned.

Webinar’s goals

By the end of the training, participants will be in a position to:

  • Describe key recent developments relating to the COVID-19 pandemic
  • Identify impairment and valuation considerations stemming from COVID-19 events
  • Apply adjustments on valuation parameters to incorporate effects of COVID-19 on valuation techniques
  • Perform sensitivity and scenario analysis
  • Select high uncertainty areas
  • Consider how COVID-19 affects their involvement on impairment testing and/or fair value estimation processes.

Participants*

The training is addressed to management staff, directors of departments and other accounting professionals with prior knowledge in impairment and/or fair value estimation in the context of financial statements, who wish to improve their understanding of how the emergence of the    COVID-19 pandemic affects such exercises.

*The number of participants is restricted to 28.

Agenda

Join the webinar (8:30 a.m. - 9:00 a.m.) *

Sessions (9:00 a.m. – 12:45 p.m. including two 15-min breaks between sessions)

1. Introduction: Training’s objectives (10 min)

  • Welcoming participants
  • Objectives overview
  • Agenda
  • Programme opening

2. The fair value estimation and impairment testing processes (1 hr)

  • Overview of fair value estimation principles
  • Overview of impairment testing process

3. Overview of key COVID-19 developments (1 hr & 30 min)

  • Key COVID-19 developments in international markets
  • Key COVID-19 developments in the domestic market
  • Key COVID-19 developments in the main industries of the Cypriot economy

4. Qualitative impact of COVID-19 on impairment and FV (Future Value) estimation (1 hr & 45 min)

    Qualitative impact assessment framework focusing on the following areas:

  • Choice of valuation techniques
  • Indications of impairment
  • Discounted Cash Flow valuation
  • Multiples valuation
  • Asset based valuation

5. Quantification of COVID-19 impact on key valuation parameters (1 hr)

  • Commonly used methodologies for quantification of valuation assumptions
  • Practical example

6. Identification of key risk areas and integration into the valuation approach (45 min)

  • Isolating high uncertainty value drivers
  • Sensitivity analysis and scenario analysis

7. Conclusions (20 min)

  • Questions and answers.

*Note: Please join the meeting 30 minutes prior to the webinar’s start time (join at 8:30 a.m.), in order to make sure that you do not face any connection or other technical issues.

Registration

If you wish to register for the webinar, please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the webinar’s date for your registration to be confirmed.

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enrol in this webinar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

€240 + VAT. Net investment after subsidy from the HRDA of €110,50: €175,10 (including VAT) for all eligible participants*

*Last Date for 10% Early Bird Discount: 25/02/2021

 

Discounts available:

  • For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enrol in the same training, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • For individuals/legal entities who/which register in more than two (3+) trainings during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enrol in more than two (3+) webinars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early Bird discount and the HRDA subsidy, when applicable.
  • There is a 10% Early bird discount on selected trainings for participants who enrol in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
  • HRDA subsidy for all HRDA approved trainings.

Contact

For any queries, please contact Irini Avraam on +357 22 207 460 or at academy@kpmg.com.cy.

CPD: This webinar may contribute to Continuing Professional Development requirements. Shortly after the webinar’s date, participants will receive electronically a certificate of attendance confirming the total number of training hours (6,5 CPD).

Trainers

Michaelides Callia
Principal, Deal Advisory, KPMG Cyprus

Callia is a Principal in the Deal Advisory of KPMG in Cyprus. Callia was a qualified member of ACCA when she joined KPMG in 2002. Since then she has managed a number of Corporate Finance and Transaction Services projects including but not limited to valuations, financing advisory, M&A, contract assistance, due diligence and transaction structuring.  

She has been extensively involved in a number of real estate advisory projects relating to the market and financial feasibility assessment. She has developed skills around forecasting market trends, analyzing development concepts, assessing operational and marketing strategies and calculating financial feasibility.

Callia has advised clients from different sectors including Tourism and Leisure, Financial Services, Communications, Transport, Retail, Medical etc. Her clients include small family businesses, larger groups and Governmental organisations.

 

Papanikolaou Prodromos
Assistant Manager, Deal Advisory, KPMG in Cyprus

Prodromos’ holds a BSc in Finance from the University of Cyprus. He is also a CFA charter holder and a member of the CFA Society Cyprus.

Prodromos has been involved in valuations, mergers and acquisitions, privatisations, financing and restructuring projects for various public and private companies. His clientele spans across a variety of sectors, such as financial services, infrastructure, energy, education, agriculture, retail and tourism. Through his professional experience, he has gained in-depth understanding of the current business environment both at local and international level.

Prodromos has delivered various seminars on valuation, financial modelling and the use of MS Excel. 

 

Stylianides Michalis
Assistant Manager, Deal Advisory, KPMG in Cyprus

Michalis is an Assistant Manager in the Deal Advisory Department at KPMG in Cyprus.. He holds a BSc in Finance, Accounting and Management and an MSc in Risk Management, both from the University of Nottingham.

Michalis has been involved, among others, in valuations, mergers and acquisitions, privatisations, financing and restructuring projects. His clients include public and private companies from various sectors such as financial services, retail, tourism and real estate. Through hands-on experience, Michalis gained in-depth understanding of the current business environment both at local and international level.

Michalis is a member of the Institute of Risk Management (IRMCert) and a member of the Institute of Chartered Accountants in England and Wales (ICAEW). He has delivered various seminars on valuation, financial modelling and use of MS Excel. 

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The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. 

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