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.
Highlights
Recap of the basic general information on loan covenants:
What is a loan covenant and why is it included in the loan agreements?
Main classification of the loan covenants.
Common loan covenants in the shipping loan agreements.
Illustrative example of covenants compliance testing.
Go through the effect of a loan covenant breach in the Financial Statements:
Presentation of loan liabilities in the Financial Statements.
Loan Covenant Waiver.
Is a breach always easily identifiable?
Additional disclosures in the Financial Statements.
Going Concern considerations.
Discuss the differences between IFRS and US GAAP in this area.
Legislation & References: Industry practices
Duration: 1h
DISCLAIMER: The course is provided on an “as is” basis. Before you
purchase any of our courses, it is exclusively your responsibility to
check if it complies with the flag administration/approval body you
require or you want to submit it to. Furthermore, you should check if
the course is accepted by your employer or flag administration as your
employer or flag administration may have specific requirements.