KPMG Learning Executive Education

Transcription

1 SUMMER-FALL 2013 KPMG Learning Executive Education Continuing Education for Corporate Executives and Their Staff ExecEd.kpmg.com

2 Instructor was phenomenal! This was by far the best CPE course I have attended in my 15 year career. KPMG Exec Ed trainings are a great way to get value-add CPE credits. Excellent training course! Effective and efficient learning that was useful and easily applied back in the office. I enjoyed the course and think it was well worth the time and money. Thank you. The instructor was off the charts demonstrating knowledge, speed of delivery, answering questions, et al. KPMG, cutting through complexity to help you address your learning needs. KPMG Learning provides a broad range of accounting and finance CPE education programs with real-time accessibility. As one of the leading training sources for today s business professional, the KPMG Learning curriculum is available in a variety of formats Executive Education public seminars, customized on-site instructor-led classes, web-based self-study programs and live topical webcasts. KPMG Learning also offers a suite of training-related services including building learning strategies, curriculum design and providing general learning management system capabilities. For more information or to register for a program, visit kpmglearning.com.

3 CONTENTS 1 KPMG Learning Executive Education Public Seminars TECHNICAL ACCOUNTING 2 IFRS Practical Application and Comparison to U.S. GAAP 3 FASB Accounting Update 4 Revenue Recognition 5 Accounting for Income Taxes 6 Advanced Accounting for Income Taxes 7 Accounting for Leases 8 Accounting for Business Combinations 9 Statement of Cash Flows 10 Accounting for Share-Based Payments 11 Accounting for Foreign Operations 12 Accounting for Foreign Currency & Interest Rate Derivatives SEC REPORTING AND MD&A 13 SEC Reporting & Compliance 14 MD&A Disclosures Workshop 15 Bank SEC Reporting & Compliance 16 Bank MD&A Disclosures Workshop FINANCE AND BUSINESS MANAGEMENT 17 Modeling & Projecting Financial Statements 18 Analyzing Corporate Performance Using Value Drivers 19 Mastering Acquisitions and Buyouts ANNUAL ACCOUNTING CONFERENCE 20 23rd Annual Accounting and Financial Reporting Symposium

4 1 KPMG Learning Executive Education Public Seminars Through our Executive Education organization, KPMG has been providing continuing professional education programs to corporate executives and their staff in the accounting, finance, and business management professions for more than 20 years. Now operating under the KPMG Learning umbrella of training services, KPMG Executive Education seminars run the gamut. These seminars are an effective continuing education learning experience for corporate executives and their staff. We pride ourselves in having speakers and instructors who are among the most knowledgeable and experienced professionals in their fields. In addition to possessing a practical understanding of the topics, our presenters are also highly-skilled and dynamic facilitators. We host a wide range of Executive Education programs at public locations across the United States. In-House Continuing Education All KPMG Learning OnSite events, including seminars offered via Executive Education, can be presented in-house exclusively for your company. To reinforce the educational benefits, we can tailor activities and exercises so they are relevant to your participants on-the-job responsibilities. In-house training offers significant benefits to you, including: Focus on those issues of primary interest to your company. Use problems and cases that are relevant and specific to your business. The ability to change the emphasis or direction of training while a session is in progress. Cost savings in travel and tuition. Scheduling sessions when and where it is most convenient for your personnel. KPMG Learning Executive Education Three Chestnut Ridge Road Montvale, NJ For Assistance and Further Information: ONLINE: ExecEd.kpmg.com BY PHONE: BY [email protected]

5 TECHNICAL ACCOUNTING 2 IFRS Practical Application and Comparison to U.S. GAAP This intensive three-day course is designed to provide an understanding of International Financial Reporting Standards (IFRS), some of the key differences between IFRS and U.S. GAAP, and what is required to reconcile those differences. It is designed for financial executives of U.S. subsidiaries of foreign companies, as well for executives of U.S. domiciled companies interested in accessing capital markets outside the United States which require the preparation of financial statements in accordance with IFRS. Past sessions received excellent marks from attendees for both the extent of the topics covered and the practical knowledge of the presenters. Lecture sessions are supplemented by problem solving and case discussion to strengthen and reinforce your understanding of the topics. Integrated into the program is discussion of significant non-accounting considerations that must be taken into effect such as the impact on systems, processes and controls of moving from U.S. GAAP to IFRS. In addition, sufficient time has been set aside to consider your questions. If you are looking for an excellent resource to obtain an understanding of the differences between U.S. GAAP and IFRS and the implications of those differences, you should plan now to attend. August Convene Seventh Avenue/Hilton November 4-6 Summit/Hotel Monaco Chicago, IL General IFRS IFRS Framework IFRS in the United States Financial Instruments Share-Based Payments Derivatives and Hedge Accounting Pensions and Post-Retirement Benefits Income Taxes Derecognition/Transfers of Financial Instruments Intangible Assets Property, Plant, and Equipment and Discontinued Operations Revenue Recognition Provisions, Contingent Liabilities, and Contingent Assets Leases Debt vs. Equity Classification Program Fee: $2,695 Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 24 Hours Inventory Investment Property Consolidation, Equity Method Investees, Joint Ventures Impairment of Long-Lived Assets Business Combinations and Noncontrolling Interests Subsequent Events/ Events after the Reporting Period IFRS for Small and Medium-Sized Entities Financial Instrument Disclosures Presentation of Financial Statements Statement of Cash Flows Conversion to IFRS Using lecture and exercises, this course is designed to give participants a detailed understanding of the more important differences between FASB and IASB pronouncements, and help them to make the appropriate adjustments on the financial statements for those differences. s The presenters are specialists from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices on technical accounting matters.

6 3 TECHNICAL ACCOUNTING FASB Accounting Update* Gain a thorough understanding of the latest issues in financial accounting and disclosure The FASB Accounting Update continues to be cited by attendees as one of the best ways to gain a thorough understanding of the latest issues in financial accounting and disclosure. The course is designed to provide financial executives and accounting managers with a thorough update on the more important recent financial accounting and disclosure pronouncements, and active projects that will affect the Accounting Standards Codification, including joint projects with the IASB, FASB-only projects, and EITF activities. Implementation issues relating to new guidance will also be considered. s The presenters are specialists from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices on technical accounting matters. August Summit/Hotel Monaco Chicago, IL September Aria Resort November The Phoenician Scottsdale, AZ December Convene Third Avenue/Marriott Program Fee: $1,695* Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Fair Value Measurement Financial instruments Classification and Measurement Impairments Hedging Balance Sheet Offsetting Leases Goodwill Impairment Assessments Fair value measurement Measurement Uncertainty Disclosures Consolidation Policy and Procedures Investment Companies Revenue Recognition Other FASB and EITF projects IFRS and U.S. GAAP Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply more important recent FASB standards, exposure drafts, staff positions, and EITFs. The course also covers how to make journal entries in specific situations and the appropriate financial statement disclosures. Attend FASB Accounting Update with * Revenue Recognition for a Special Discount Fee of $2,545.

7 TECHNICAL ACCOUNTING 4 Revenue Recognition* Provides an understanding of the accounting, reporting, and disclosure requirements associated with revenue recognition for the sale of products or rendering of services The Revenue Recognition course will focus primarily on the forthcoming Joint FASB/IASB Revenue Recognition Standard, which is expected to be issued later this year, and will replace virtually all existing U.S. GAAP and IFRS revenue recognition guidance. In addition, the course will also provide an overview of the existing accounting, reporting, and disclosure requirements associated with revenue recognition for the sale of products and rendering of services under U.S. GAAP, with an emphasis on current practice issues. Coverage of the new standard will focus on participants gaining an understanding of the new revenue recognition model, and the major changes expected to affect companies adopting the standard. The overview of the existing revenue recognition requirements will address the basics of FASB and SEC guidance and will touch upon other topics most relevant to those attending, which may include one or more of the following: Multiple-Element Arrangements Software Revenue Recognition Customer Payments and Incentives Principal Agent Considerations Long-Term Construction-Type and Production-Type Contracts Other Revenue Recognition Application Matters s The presenters are specialists from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices on technical accounting matters. August 21 Summit/Hotel Monaco Chicago, IL Program Fee: $1,195 Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 8 Hours Delivery Method: Group Live Overview of Existing U.S. GAAP Revenue Recognition Requirements and Practice Issues The Joint FASB/IASB Revenue Recognition Project Scope Five-Step Revenue Recognition Model Specific Application Issues Disclosure Requirements Transition and Effective Date Using lecture, examples, and detailed exercises, this course is designed to give participants an understanding of the forthcoming Joint FASB/IASB Revenue Recognition Standard, as well as overview of the existing accounting, reporting, and disclosure requirements. * Attend Revenue Recognition with FASB Accounting Update for a Special Discount Fee of $2,545.

8 5 TECHNICAL ACCOUNTING Accounting for Income Taxes* Understand and apply ASC 740 (FAS 109 and associated pronouncements) This two-day seminar is designed to help you apply ASC 740 (FAS 109, FIN 48, and their associated pronouncements). It provides a conceptual as well as practical coverage of accounting for income taxes. The course explains how to reconcile differences between four sets of flows: cash flows, U.S. income, taxable income, and more likely than not taxable income. It will also cover adjustments for stock options, other comprehensive income, business combinations, and foreign operations, which make this topic even more challenging. The seminar uses a combination of lecture, discussion, and problem solving to clarify the concepts and procedures. Seminar Focus Permanent vs. temporary differences and how they affect the effective tax rate Classification of temporary differences into taxable and deductible differences Difference between taxes payable (refundable), tax contingencies, and deferred tax liabilities (assets) Tax credit carryforwards and tax loss carry forwards Common sources of permanent and temporary differences between the book basis and tax basis An introduction to tax contingencies Cash-flow consequences of deferred taxes Applying the more likely than not test in determining the valuation allowance for deferred tax assets Interim period taxes: Quarterly disclosures Disclosures of tax-related items in the financial statements and the notes An introduction to accounting for taxes related to other comprehensive income, stock options, business combinations, and foreign operations Dan Gode, Co-founder, Almaris E-Learning Systems August Convene Seventh Avenue/Hilton November 7-8 KPMG Office/Radisson Blu Aqua Hotel November Aria Resort December Convene Third Avenue/ Wyndham Program Fee: $1,795* Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Introduction to Deferred Taxes: Revenue Items Introduction to Deferred Taxes: Expense Items Disclosure Rules Deferred Taxes and Other Comprehensive Income Common Book-Tax Differences Carrybacks and Carryforwards Valuation Allowance Tax Contingencies Business Combinations and Intercompany Transactions Stock Options and Deferred Taxes Interim Period Taxes Foreign Operations Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply the FASB pronouncements on accounting for income taxes, including how to make journal entries in specific situations, or appropriate financial statement disclosures. * * Attend Accounting for Income Taxes with Advanced Accounting for Income Taxes for a Special Discount Fee of $3,250. Attend Accounting for Income Taxes with Accounting for Leases for a Special Discount Fee of $2,595.

9 TECHNICAL ACCOUNTING 6 Advanced Accounting for Income Taxes* Implementing U.S. GAAP on income taxes This course is designed for individuals who have an intermediate level knowledge of the requirements for accounting and financial disclosures pertaining to income taxes. The course will discuss challenges that arise in the implementations of accounting for income taxes. Topics include accounting for taxes relating to the following topics: Tax contingencies: interaction between federal and state, interest accruals Carryforwards Valuation allowance Quarterly disclosures and discrete items State taxes and blended tax rates Foreign operations Stock options Business combinations Equity investments and joint ventures Return to provision reconciliations Intraperiod tax allocations Investments in securities and derivatives Note that the seminar is about accounting for income taxes; it is not a seminar about the tax code itself. Dan Gode, Co-founder, Almaris E-Learning Systems Co-speaker KPMG LLP Federal Tax Partner August Convene Seventh Avenue/Hilton November Aria Resort December Convene Third Avenue/Wyndham Program Fee: $1,995 Prerequisite: Must be knowledgeable in the FASB s requirements for accounting for income taxes Preparation: Accounting for Income Taxes (Course #245) or equivalent Level of Knowledge: Advanced Recommended CPE Credits: 16 Hours Delivery Method: Group Live Tax Contingencies Carryforwards Valuation Allowance Quarterly Disclosures and Discrete Items State Taxes and Blended Tax Rates Foreign Operations Stock Options Business Combinations and Intercompany Transactions Intraperiod Tax Allocations Securities and Derivatives Return to Provision Reconciliations Using lecture, examples, and detailed exercises, this course is designed to give participants who are knowledgeable in the FASB requirements on accounting for income taxes a more in-depth exposure to some of the more complex issues related to accounting for income taxes. * Attend Advanced Accounting for Income Taxes with Accounting for Income Taxes for a Special Discount fee of $3,250.

10 7 TECHNICAL ACCOUNTING Accounting for Leases* Understanding and applying U.S. GAAP on lease accounting This one-day seminar will help you understand how and why the recently exposed lease accounting standards differ from the current standards. The seminar will explain the current standards, proposed changes, their logic, their implications, and the problem areas that concern the constituents. Because of the new material on proposed standards, some of the details of the existing standards such as the details of lessee s involvement in asset construction, subleases, leveraged leases, and changes to lease terms will not be covered. Seminar Focus Leases and Off-Balance Sheet Financing: Why Lease Accounting Matters Balance sheet: Debt-equity ratio, return on assets Income statement: EBITDAR, EBITDA, EBIT, and net income Cash-flow statements: Classification of cash flows, significant noncash events Exposure Draft on Accounting for Lessees and Areas of Concern: Right to use model Grossing up of the balance sheet Renewal options, Contingent rents, Residual value guarantees, Accounting for each lease separately when companies have thousands of leases, Bargain purchase options, Discount rates, Debt guarantees Accounting for Lessors: If the Old Accounting Is Retained Operating leases, Direct financing leases, Sales-type leases, Typical financial disclosures Accounting for Lessors: Proposed Changes Consistency with revenue recognition Dercognition vs. performance obligation Dan Gode, Co-founder, Almaris E-Learning Systems Co-speaker The co-speaker is a specialist from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices on technical accounting matters. December 9 Convene Third Avenue/Wyndham Program Fee: $1,195* Prerequisite: Good understanding of U.S. GAAP accounting required Level of Knowledge: Intermediate Recommended CPE Credits: 8 Hours Leases and Off-Balance Sheet Financing: Why Lease Accounting Matters Exposure Draft on Accounting for Lessees The Problem Areas in the Proposed Accounting for Lessees Accounting for Lessors: If the Old Accounting Is Retained Accounting for Lessors: Proposed Changes Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply the FASB pronouncements on accounting for leases, including how to make journal entries in specific situations and the appropriate financial statement disclosures. Attend Accounting for Leases * with either Accounting for Income Taxes OR Accounting for Business Combinations for a Special Discount Fee of $2,595.

11 TECHNICAL ACCOUNTING 8 Accounting for Business Combinations* ASC 805 (FAS 141R and FAS 160) and ASC (FAS 142) Accounting for Business Combinations explains the requirements of ASC Topic 805. The seminar provides an in-depth explanation of the accounting for business combinations, the concepts underlying those requirements, and discusses their potential impacts on structuring of mergers and acquisitions. The seminar also covers ASC Subtopics and , which cover the accounting for goodwill and intangible assets subsequent to an acquisition. Seminar Focus The use of simple spreadsheet-based examples to explain the basic concepts clearly A detailed explanation of the deferred income tax consequences of business combinations and asset purchases, accounting for tax-deductible goodwill A discussion of goodwill impairment and its consequences Detailed coverage of stock options, contingencies, and earnouts in a business combination Explanation of how business combinations affect projected financial statements and metrics; what makes acquisitions accretive or dilutive to EPS Dan Gode, Co-founder, Almaris E-Learning Systems November Aria Resort December 5-6 Convene Seventh Avenue/ Sheraton Program Fee: $1,795* Prerequisite: Good understanding of U.S. GAAP accounting required Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Overview of ASC 805 with Simple Examples Introduction to Tax Issues Relating to Business Combinations First Steps in Applying ASC 805 Computing the Cost of Acquiring the Target Accounting for Noncontrolling Interests under FAS 160 Allocating the Acquisition Cost to the Acquired Assets and Assumed Liabilities Understanding ASC (FAS 142) on Goodwill Tax Issues Understanding the Consequences of Business Combinations Using lecture, examples and detailed exercises this course is designed to provide participants with an in-depth understanding of how to apply the FASB pronouncements on business combinations, how to make journal entries in specific situations and the appropriate financial statement disclosures. Attend Accounting for Business * Combinations with either Accounting for Leases OR Statement of Cash Flows for a Special Discount Fee of $2,595.

12 9 TECHNICAL ACCOUNTING Statement of Cash Flows* Understanding and preparing U.S. GAAP statement of cash flows The statement of cash flows is a key point of focus for investors. This one-day seminar will help you prepare the statement of cash flows as per U.S. GAAP. It will help you incorporate non-operating changes in assets and liabilities due to factors such as acquisitions, dispositions, foreign currency translations, other comprehensive income, and stock-based compensation. The seminar uses spreadsheet-based examples from published financial statements to illustrate scenarios and their applications. Seminar Focus Requirements of ASC 230 SEC Enforcement Releases Special issues relating to the following: Deferred taxes Foreign currency translations Other comprehensive income Stock-based compensation Acquisitions, consolidations, noncontrolling interests, and dispositions Pensions and other postemployment benefits Significant noncash events Leases Premium and discount on bonds Equity investments Derivatives and hedging Securitizations Discontinued operations Dan Gode, Co-founder, Almaris E-Learning Systems September 17 Aria Resort December 4 Convene Seventh Avenue/Sheraton Program Fee: $1,195 Prerequisite: Good understanding of U.S. GAAP accounting required Level of Knowledge: Intermediate Recommended CPE Credits: 8 Hours ASC 230: Financing, Investing, and Operating Cash Flows: Detailed Discussion of FAS 95 Requirements Classifying Cash Flows Examples of SEC Comment Letters When the Balance Sheet Changes Differ from Cash Flow Adjustments Special Topics: Deferred Taxes and Stock Options: Deferred Taxes Stock-Based Compensation Miscellaneous Cash Flow Topics: Pensions and Other Postemployment Benefits Significant Noncash Events Leases Premium and Discount Bonds Equity Investments Derivatives and Hedging Securitizations Vendor Financing Discontinued Operations Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply the FASB requirements for cash flow statements, including how to make journal entries in specific situations and the appropriate financial statement disclosures. Attend Statement of Cash Flows * with either Accounting for Income Taxes OR Accounting for Business Combinations for a Special Discount Fee of $2,595.

13 TECHNICAL ACCOUNTING 10 Accounting for Share-Based Payments Applying ASC 718 (FAS 123R) in practice This seminar is designed to assist you in applying ASC 718 (FAS 123R). It will consider the important accounting requirements of the standards and SEC Staff Accounting Bulletins. Among the issues that will be addressed are as follows: Seminar Focus Complete yet simple examples of the implementation issues so that you understand the logic of ASC 718 as well as the correct procedures to implement it. Detail discussion of tax issues related to ASC 718 including APIC pools, impact of stock options on the effective tax rate, cash flow treatment of excess stock option income tax benefits, and the interaction of ordinary NOLs and stock option NOLs. Range of share-based compensation including nonqualified options (NQOs), incentive stock options (ISOs), unvested stock with and without 83(b) elections, and employee stock purchase plans (ESPPs). Valuation challenges arising from the measurement of expected term and volatility. The presenters include specialist(s) from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices regarding difficult implementation issues surrounding ASC 718. The seminar materials include the KPMG Guide to Implementation of ASC 718. Dan Gode, Co-founder, Almaris E-Learning Systems Co-speaker The co-speaker is a specialist from the KPMG Department of Professional Practice, which is a national resource that advises KPMG field offices on technical accounting matters. September Aria Resort December Convene Third Avenue/Marriott Program Fee: $1,795 Prerequisite: Good understanding of U.S. GAAP accounting required Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Overview with Simple Examples Nonqualified Stock Options Nonvested Stock; Incentive Stock Options Measurement of Fair Value Classification of Awards Recognition of Compensation Costs Modification of Awards Stock Option NOLs; Business Combinations Disclosures Earnings per Share Employee Stock Purchase Plans Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply ASC 718, including how to make journal entries in specific situations and the appropriate financial statement disclosures.

14 11 TECHNICAL ACCOUNTING Accounting for Foreign Operations ASC 830 (FAS 52) and related pronouncements Multinational companies face the challenging task of consolidating and reporting their foreign operations. Accounting for foreign operations requires a thorough knowledge of the conceptual underpinnings of the accounting standards as well as the issues that arise in their practical implementation. Seminar Focus Determining the functional currency Translations under the current rate method Remeasurements under the temporal method Foreign currency transactions Intercompany transactions and consolidations Statement of cash flows and foreign operations Accounting for foreign taxes: ASC Please note that accounting for foreign currency derivatives is covered in a separate seminar on derivatives. Dan Gode, Co-founder, Almaris E-Learning Systems Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how to apply the FASB pronouncements on accounting for foreign operations, how to make journal entries in specific situations, and the appropriate financial statement disclosures. September 18 Aria Resort December 2 Convene Seventh Avenue/Sheraton Program Fee: $1,295 Prerequisite: None Level of Knowledge: Intermediate Recommended CPE Credits: 8 Hours 7:45 8:45 Registration and Continental Breakfast 8:45 10:15 Conceptual foundation of accounting for foreign operations Conceptual challenges Net income vs. other comprehensive income Monetary assets vs. non-monetary assets Reporting currency vs. local currency vs. functional currency Accounting choices Using the current rate method to translate foreign subsidiaries Using the temporal method to translate foreign branches Reporting gains and losses on foreign currency transactions Determining the functional currency Cash flow, sales price, sales market, expense, financing, intercompany transactions and arrangements Changing the functional currency Foreign operations in highly inflationary economies 10:15 10:30 Break and refreshments 10:30 12:30 Implementing the accounting standards Determining the functional currency Cash flow, sales price, sales market, expense, financing, intercompany transactions and arrangements Changing the functional currency Foreign operations in highly inflationary economies Intercompany transactions involving foreign subsidiaries Intercompany sales and purchases Intercompany debt Consolidation procedures 12:30 1:30 Lunch 1:30 3:00 Case studies including preparation of statement of cash flows Comprehensive example Balance sheet changes vs. cash flow adjustments, removing the effect of OCI items from cash flows Effect of exchange rate changes on cash 3:00 3:15 Break and refreshments 3:15 5:00 Foreign operations and taxes ASC indefinitely reinvested earnings and deferred taxes Currency translation adjustment and deferred taxes Indexing in foreign countries Accounting for tax positions arising out of foreign taxes

15 TECHNICAL ACCOUNTING 12 Accounting for Foreign Currency & Interest Rate Derivatives Hedging foreign currency risk and interest rate risk This course is directed at both treasury and accounting professionals, and is designed to help you understand how the derivatives market works for hedging interest rate risk and foreign currency risk and how to account for hedging transactions under U.S. GAAP. Although some derivatives may be highly sophisticated and esoteric instruments, the vast majority of hedgers use plain vanilla contracts in textbook applications to manage their interest rate and foreign exchange rate exposures. This seminar is designed for just these types of companies. It takes the mystery out of both the instruments and the accounting. Under current U.S. GAAP, derivative users may legitimately apply alternative accounting treatments to common transactions; but special hedge accounting is invariably preferred by most public companies, as it makes the intent of the hedging activity transparent to readers of financial statements and generally minimizes the volatility of reported earnings. This treatment, however, is not automatic and, in fact, qualifying for this treatment is fraught with difficulties. This seminar is directed to overcoming these obstacles, thereby making the application of hedge accounting more readily accessible. Special attention is given to the question of how to design hedge effectiveness tests and how to measure hedge ineffectiveness, arguably the most challenging aspects of current U.S. GAAP for those seeking to qualify for hedge accounting treatment. Beyond the documentation requirements, financial reporting professionals are also charged with preparing correct journal entries and disclosures relating to derivatives. Determining correct earnings and OCI allocations and compiling appropriate disclosure amounts relating to ineffective hedge results and reclassification amounts are hardly trivial exercises, but our hands-on case studies have been designed to make these concepts and procedures accessible. Woven throughout the course will be material from the FASB agenda project that may fundamentally alter certain hedge accounting considerations. Ira G. Kawaller, President, Kawaller & Company September Aria Resort December Convene Third Avenue/Wyndham Introduction to Derivatives Alternative Accounting Treatments Interest Rate Swap Case Study Documentation Requirements Disclosures Review of FAS 52 Issues Program Fee: $1,795 Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Foreign Currency Hedging Interest Rate Hedging FAS 133 Definitions International Standards and FAS 133 Amendments Other Related Topics Using lecture, examples, and detailed exercises, this course is designed to give participants an in-depth understanding of how hedging transactions function and how to apply the revised FASB Statement 133 requirements, including how to make journal entries in specific situations and the appropriate financial statement disclosures. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity.

16 13 SEC REPORTING AND MD&A SEC Reporting & Compliance* Provides a sound grounding in SEC reporting and compliance for corporate financial executives and managers It is designed to give you a practical, hands-on experience in what s required to prepare the Form 10-K Annual Report, Form 10-Q Quarterly Report, Form 8-K Current Report, and the proxy statement (Schedule 14A). The course also discusses current issues on the SEC s agenda such as Dodd-Frank initiatives, the JOBS Act, trends in SEC comments, XBRL, and IFRS. Course materials are continuously updated to give you the most current information on SEC issues. While the course focuses on full Form 10-K filers, smaller reporting companies have found it extremely useful as well. Actual reports and filings and small-group exercises are integrated into the course to demonstrate how the regulations are applied in practice and to reinforce your understanding of the topics. In addition to the workbook manual, you will also receive an SEC Rules and Regulations Manual and gain insight into how to research information. Seminar Focus Practical discussion of Exchange Act filing requirements with an overview of the SEC s integrated disclosure system Effective use of Non-U.S. GAAP Financial Measures Preparing and filing Forms 10-K, 10-Q, and 8-K with emphasis on key disclosures Dealing with disclosure and compliance issues, including Sarbanes-Oxley developments Management representations on effectiveness of disclosure and internal controls and procedures Analyzing actual SEC filings Dealing with SEC staff on inquiries, comment letters, discussions, and other matters Proxy statement preparation Small-group case exercises Mary Anne Busse, Managing Director, Great Disclosure, LLC August Hilton Union Square San Francisco, CA September Convene Third Avenue/Wyndham November 6-7 Mandarin Oriental December 2-3 Convene Seventh Avenue/Sheraton Program Fee: $1,695* Prerequisite: None Level of Knowledge: Basic Recommended CPE Credits: 16 Hours The SEC, Its Operations, and Organization Dealing Effectively with SEC Staff Developing the Form 10-K Annual Report Item by Item Analysis of Form 10-K Requirements Non-U.S. GAAP Financial Measures Preparing the Form 10-Q Quarterly Report Current Reporting on Form 8-K Proxy Statement and the Annual Report to Shareholders Current Hot Issues including Trends in SEC Comments, XBRL, and SEC Reporting Using IFRS Using lecture and exercises, this course is designed to give participants a basic understanding of how to prepare the SEC s periodic reporting forms: 10-K Annual Report, 10-Q Quarterly Report, 8-K Current Report, as well as an understanding of how to comply with the annual proxy requirements. Attend SEC Reporting with MD&A * Workshop for a Special Discount Fee of $2,595.

17 SEC REPORTING AND MD&A 14 MD&A Disclosures Workshop* The heightened interest in financial reporting and disclosure resulting from recent legislation and SEC rulemaking is causing an increased focus on the kinds and quality of Management s Discussion and Analysis (MD&A) disclosures in SEC filings. The program will emphasize key MD&A developments, including SEC releases, comment letters and speeches, focusing on expanding and improving MD&A s effectiveness and compliance. Example MD&As and hands-on exercises involving actual MD&A disclosures are incorporated throughout the day. The exercises give you the opportunity in a real-world setting to evaluate and critique actual MD&As, discuss how they might be improved and apply those lessons to the attendees own MD&As. Mary Anne Busse, Managing Director, Great Disclosure, LLC August 22 Hilton Union Square San Francisco, CA September 20 Convene Third Avenue/Wyndham November 8 Mandarin Oriental December 4 Convene Seventh Avenue/Sheraton Program Fee: $1,195* Prerequisite: None Level of Knowledge: Basic Recommended CPE Credits: 8 Hours Overview of Management s Discussion and Analysis Requirements Review and Analysis of Underlying MD&A Releases Critical Accounting Policies and Estimates Analysis of Example MD&As on Key Topical Issues Goodwill Considerations Cash Flow Disclosures Impairment Testing Disclosures Non-U.S. GAAP Financial Measure Disclosures Leading Practices in Drafting Guidance Required Trend Disclosure Forward-Looking Information Trends in SEC Comments Using lecture, exercises and interactive discussion, this course is designed to give participants a basic understanding of how to prepare the SEC s Management s Discussion and Analysis section of the Form 10-K Annual Report and 10-Q Quarterly Report, including the extent and kinds of disclosures the SEC deems appropriate. Attend MD&A Workshop with * SEC Reporting for a Special Discount Fee of $2,595.

18 15 SEC REPORTING AND MD&A Bank SEC Reporting & Compliance* Looking to learn how to file the SEC periodic reports for banks and bank holding companies? This course provides a sound grounding in SEC reporting and compliance for corporate financial executives and managers of banks and bank holding companies. It is designed for banks and bank holding companies to give you practical, hands-on experience in what is required to prepare the Form 10-K Annual Report, Form 10-Q Quarterly Report, Form 8-K Current Report, and the proxy statement (Schedule 14A). The course also discusses current key issues on the SEC s agenda, trends in Dodd-Frank initiatives, the JOBS Act, trends in SEC, SEC comments, XBRL, and IFRS. The course is similar to our SEC Reporting & Compliance course, except that it emphasizes bank specific issues such as Industry Guide 3 and Article 9 of Regulation S-X, detailing bank-financial statement requirements. Actual bank SEC filings are integrated into the course to demonstrate how the regulations are implemented in practice. In addition to the workbook manual, you will also receive an SEC Rules and Regulations Manual and gain insight into how to research information. Mary Anne Busse, Managing Director, Great Disclosures, LLC Co-speaker KPMG LLP Banking Partner December 9-10 Convene Third Avenue/Wyndham Program Fee: $1,695* Prerequisite: None Level of Knowledge: Basic Recommended CPE Credits: 16 Hours The SEC, Its Operations, and Organization Dealing Effectively with SEC Staff XBRL SEC Reporting Using IFRS Developing the Form 10-K Annual Report Form 10-Q Quarterly Report The Item Requirements of Form 10-K, including Industry Guide 3 and Article 9 of Regulation S-X Form 8-K Current Report Proxy Statements Using lecture and exercises, this course is designed to give participants a basic understanding of how to prepare the SEC s periodic reporting forms for banks and bank holding companies: 10-K Annual Report, 10-Q Quarterly Report, 8-K Current Report, as well as an understanding of how to comply with the annual proxy requirements for banks. Attend Bank SEC Reporting with * Bank MD&A Workshop for a Special Discount Fee of $2,595.

19 SEC REPORTING AND MD&A 16 Bank MD&A Disclosures Workshop* The heightened interest in financial reporting and disclosure resulting from recent legislation and SEC rulemaking is causing an increased focus on the kinds and quality of Management s Discussion and Analysis (MD&A) disclosures in SEC filings. The program will emphasize key MD&A developments, including SEC releases, comment letters and speeches, focusing on expanding and improving MD&A s effectiveness and compliance. Example MD&As and hands-on exercises involving actual MD&A disclosures are incorporated throughout the day. The exercises give you the opportunity in a real-world setting to evaluate and critique actual MD&As, discuss how they might be improved and apply those lessons to the attendees own MD&A. Mary Anne Busse, Managing Director, Great Disclosures, LLC Co-speaker KPMG LLP Banking Partner December 11 Convene Third Avenue/Wyndham Program Fee: $1,195* Prerequisite: None Level of Knowledge: Basic Recommended CPE Credits: 8 Hours Overview of Management s Discussion and Analysis Requirements Review and Analysis of Underlying MD&A Releases Critical Accounting Policies and Estimates Analysis of Example MD&As on Key Topical Issues Goodwill Considerations Cash Flow Disclosures Impairment Testing Disclosures Non-U.S. GAAP Financial Measure Disclosures Leading Practices in Drafting Guidance Required Trend Disclosure Forward-Looking Information Trends in SEC Comments Using lecture and exercises, this course is designed to give participants a basic understanding of how to prepare the SEC s Management s Discussion and Analysis section of the Form 10-K Annual Report and 10-Q Quarterly Report for banks and bank holding companies, including the extent and kinds of disclosures the SEC deems appropriate. Attend Bank MD&A Workshop with * Bank SEC Reporting for a Special Discount Fee of $2,595.

20 17 FINANCE AND BUSINESS MANAGEMENT Modeling & Projecting Financial Statements* Weaving business forecasts into spreadsheet-based financial projections This two-day workshop is for professionals in valuation, corporate finance, planning and budgeting, investment banking, asset management, fixed income research, and equity research. It is intended to help you weave business and financial forecasts into spreadsheet-based projections of financial statements. These projections are designed to help you value a business, test future scenarios, and provide an integrated view of a business. The workshop will also discuss tools and techniques intended to make you more efficient and effective in developing models. Seminar Focus Introduction to modeling and design: Components of a financial statement model; Skills needed for modeling; Excel overview; Design choices Efficient modeling and best practices Building blocks of models and step-wise development: Enterprise activities Forecasting EBITDA by forecasting sales and operating expenses Forecasting working capital requirements for future business activity Forecasting capital expenditures, PP&E, and depreciation Non-current operating assets and liabilities: Modeling multi-period effects: When revenues are collected over multiple periods, or expenses are incurred over multiple periods Forecasting reserves and allowances Modeling current and deferred taxes Building blocks: Financing activities Understanding and forecasting enterprise free cash flows: Contrasting three approaches to measurement of free cash flows: cash-flow budgeting, equity valuation, and credit risk analysis Forecasting funding needs and interest expense Ensuring that the firm meets its debt-to-equity ratio constraints or debt-to-ebitda constraints Meeting seasonal funding needs via revolving line of credit Overview of integrated models and their drivers Valuation Cost of capital and risk Growth and terminal values Modeling stock options, leases, equity investments, and intangible assets September Aria Resort December Convene Third Avenue/Marriott Program Fee: $1,975* Prerequisite: Knowledge of basic accounting Level of Knowledge: Intermediate Recommended CPE Credits: 16 Hours Field of Study: Finance Seven Key Value Drivers Operating Activities: Growth and Margins Investing Activities Modeling Multiperiod Effects: Noncurrent Assets and Liabilities Free Cash Flows and Funding Needs Financing Activities Modeling Taxes Risk and Cost of Capital; Growth and Terminal Values Modeling Special Topics Leases, Stock Options, Equity Investments, Intangible Assets Using lecture, detailed Excel-based examples, and exercises, this course is designed to give participants an understanding of how to develop their own financial statement models, allowing them to more efficiently and effectively analyze information. * Attend Modeling & Projecting Financial Statements with Analyzing Corporate Performance for a Special Discount Fee of $2,895. Prerequisites You must bring a laptop with Excel 2007 or above to the workshop to build models. No Internet access is required during the workshop. A working knowledge of Excel is required (advanced knowledge of Excel, such as macros, is not needed for this course). A good knowledge of accounting topics such as indirect cash flows, leases, taxes, and options is necessary. Please note: The workshop is not designed for experienced modelers with specific advanced questions. Dan Gode, Co-founder, Almaris E-Learning Systems

21 FINANCE AND BUSINESS MANAGEMENT 18 Analyzing Corporate Performance Using Value Drivers* An integrated framework linking corporate performance to business value This one-day seminar is designed to provide you with an understanding of the financial ratios and corporate metrics which you will need to benchmark and compare performance of business units, competitors, and potential business targets. The course discusses seven key value drivers and then shows how to break down these drivers for more effective analysis. The program also explains how accounting choices affect these value drivers and how one can separate the impact of accounting choices from underlying economics. You will work through financial statements of real companies throughout the seminar and use Excel spreadsheets to analyze companies. This seminar will be useful to those in financial planning and analysis groups who need to develop financial ratios and metrics to benchmark and compare performance of business units, competitors, and potential acquisition targets. Seminar Focus During this program participants will: Identify the key financial ratios that measure value drivers Discover a framework that links these value drivers to shareholder value Understand how business strategy and management actions affect these key value drivers Analyze the cash needs of a business Separate the impact of accounting choices from economic fundamentals Compare real companies to understand how and why they differ in shareholder value creation Link financial statement analysis to valuation models Prerequisites You must bring a laptop with Excel 2007 or above to the workshop to build models. No Internet access is required during the workshop. A working knowledge of Excel is required (advanced knowledge of Excel, such as macros, is not needed for this course). A good knowledge of accounting is essential for this program. Dan Gode, Co-founder, Almaris E-Learning Systems September 11 Aria Resort December 18 Convene Third Avenue/Marriott Program Fee: $1,295* Prerequisite: Good understanding of U.S. GAAP accounting required Level of Knowledge: Intermediate Recommended CPE Credits: 8 Hours Field of Study: Finance The Seven Value Drivers Framework Tradeoffs between the Value Drivers Measuring Return on Investment Consistently Profitability and Margins Volume and Turnover Free Cash Flows Accounting Choices and Ratios Leverage Credit Risk and Interest Taxes, Payouts, and Growth Risk, Multiples, and Valuation Using lecture, detailed Excel-based examples, and exercises, this course is designed to give participants an understanding of how to review financial statements, allowing them to more efficiently and effectively analyze information. Attend Analyzing Corporate * Performance with Modeling & Projecting Financial Statements for a Special Discount Fee of $2,895. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity.

22 19 FINANCE AND BUSINESS MANAGEMENT Mastering Acquisitions and Buyouts Roadmap to understanding the risks and rewards In the acquisition arena, successful companies work hard to develop and execute strategies that are achievable and that enhance value. They conduct disciplined due diligence. They pay close attention to legal and tax traps and opportunities. They negotiate within carefully crafted parameters. They empower their transition teams long before the closing. In short, successful buyers and sellers never lose sight of the endgame: to recognize, measure, and then create lasting incremental value. Whether you seek to capture new product or regional markets, acquire scarce resources, cut costs or to translate existing value into liquidity this program can give you important insights and the broad cross-functional perspective that you need. The program is aimed at corporate owners, executives, and managers tasked with making tough deals happen. Program speakers have spent long careers planning for, identifying, structuring, valuing, negotiating, closing, and putting together acquisitions and buyouts. They will share with you their practical front-line experiences. As the M&A world changes, so do these sessions. In fact, many who attend come back for a refresher session years later. Past attendees have commented on how much they enjoyed participating in the small-group acquisition team case study, in which they thought through what they would have done in a real-world M&A situation led by one of the program speakers with a surprising outcome. During the case, you ll evaluate an acquisition target, price and structure a deal, and formulate your negotiating approach, later comparing your results with what actually happened. October 7-8 Convene Seventh Avenue/Hilton November 5-6 Mandarin Oriental Program Fee: $1,895 Prerequisite: None Level of Knowledge: Basic Recommended CPE Credits: 16 Hours Fields of Study: Finance - 12 Hours; Taxes - 1 Hour; Business Law Hours; Business Management & Organization - 1 Hour; Personal Development Hours Today s Deal Marketplace Structuring the Deal: The Tax Side Finding the Right Deal Getting Ready: How the Sellers (Should!) Prepare Valuing the Target, Making the Bid, and Setting the Price Special Case: Buyouts Negotiating Tips Structuring the Deal: The Legal Side Harvesting the Upside: Business Integration Due Diligence: When, How, and How Much The Merger Simulator Case Study Putting It All Together Using lecture, group dialogue, questions and answers, examples, and an intensive half-day case study, this course is designed to give participants an understanding of what is required to complete a successful merger, acquisition, or buyout, from gaining an understanding of the current M&A environment and of the steps necessary to navigate the many pitfalls that can cause a transaction to fail. Stephen B. Blum, Senior Director of Strategic Initiatives, Association of Yale Alumni

23 ANNUAL ACCOUNTING CONFERENCE 20 23rd Annual Accounting and Financial Reporting Symposium The symposium is designed for corporate financial executives from both private and public companies who desire an update on the more important financial accounting and reporting developments over the past year. The program also will discuss other important topics impacting the responsibilities of the audience. Those who have attended past sessions have pointed out that one advantage of the program is that it includes technical compliance topics, along with discussions of leading practices in financial leadership. Speakers are leading executives from industry, accounting, and legal professions who are involved with the issues every day. They will address recent technical pronouncements and guidance from the FASB and SEC. In addition, they will share with you their experiences in dealing with some of the more important leadership issues that have helped their companies compete more effectively in today s environment. Topics covered include: December 5-6 Aria Resort Program Fee: $1,695 Prerequisite: None Level of Knowledge: Update Recommended CPE Credits: 16 Hours Tentative Fields of Study: Accounting Business Management Taxes This annual symposium updates corporate financial executives on the more important financial and other management issues that impact their areas of responsibility over the near term and for year-end reporting. Keynote Address on Issues Impacting Financial Executives FASB Current Developments Accounting for Leases Accounting for Revenue Recognition Accounting for Financial Instruments Controllership Issues Managing Risk SEC Update Impact of Federal Tax Policy on Companies member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity.

24 21 SUMMER-FALL 2013 KPMG Learning Executive Education IFRS Practical Application and Comparison to U.S. GAAP August 21 23, ( ) November 4 6, Chicago, IL ( ) FASB Accounting Update August 19 20, Chicago, IL ( ) September 19 20, ( ) November 19 20, Scottsdale, AZ ( ) December 17 18, ( ) Revenue Recognition August 21, Chicago, IL ( ) Accounting for Income Taxes August 20 21, ( ) November 7 8, Chicago, IL ( ) November 21 22, ( ) December 10 11, ( ) Advanced Accounting for Income Taxes August 22 23, ( ) November 25 26, ( ) December 12 13, ( ) Accounting for Leases December 9, ( ) Accounting for Business Combinations November 14 15, ( ) December 5 6, ( ) Accounting for Foreign Operations September 18, ( ) December 2, ( ) Accounting for Foreign Currency and Interest Rate Derivatives September 12 13, ( ) December 12 13, ( ) Statement of Cash Flows September 17, ( ) December 4, ( ) Mastering Acquisitions and Buyouts October 7 8, ( ) November 5 6, ( ) Modeling & Projecting Financial Statements September 12 13, ( ) December 19 20, ( ) Analyzing Corporate Performance Using Value Drivers September 11, ( ) December 18, ( ) SEC Reporting & Compliance August 20 21, San Francisco, CA ( ) September 18 19, ( ) November 6 7, ( ) December 2 3, ( ) MD&A Disclosures Workshop August 22, San Francisco, CA ( ) September 20, ( ) November 8, ( ) December 4, ( ) Bank SEC Reporting & Compliance December 9 10, ( ) Bank MD&A Disclosures Workshop December 11, ( ) 23rd Annual Accounting & Financial Reporting Symposium December 5 6, ( ) Accounting for Share-Based Payments September 19 20, ( ) December 16 17, ( )

25 LOCATION DETAILS FOR ALL KPMG LEARNING EXECUTIVE EDUCATION PROGRAMS NOTE: The hotel location for each course is specified in the course details 22 LOCATION DETAILS FOR ALL KPMG LEARNING EXECUTIVE EDUCATION PROGRAMS NOTE: The hotel location for each course is specified in the course details Chicago, IL MEETING SITES: KPMG Office Aon Center 200 E. Randolph Street, Suite 5500 Chicago, IL Summit Executive Centre 205 N. Michigan Avenue, 10th Floor Boulevard Towers South Chicago, IL HOTEL SITES: Hotel Monaco Chicago 225 North Wabash Avenue Chicago, IL Radisson Blu Aqua Hotel 221 N. Columbus Drive Chicago, IL Aria Resort 3730 Las Vegas Blvd Mandarin Oriental 2752 S. Las Vegas Blvd San Francisco, CA Hilton Union Square 333 O Farrell Street San Francisco, CA MEETING SITES: Convene Third Avenue 730 3rd Ave., 23rd Floor Convene Seventh Avenue 810 7th Ave., 23rd Floor HOTEL SITES: Hilton New York 1335 Avenue of the Americas New York Marriott East Side 525 Lexington Avenue at 49th Street Sheraton New York 811 Seventh Avenue Wyndham Midtown E. 45th Street Scottsdale, AZ The Phoenician 6000 E. Camelback Road Scottsdale, AZ

26 Registration Form and Information SUMMER FALL 2013 Program Fee and Refund Policy The fees indicated for each course cover all learning materials, instruction, and food and beverages. If paying by check, please make checks payable to KPMG LLP - Executive Education. Discounts are available for first-time Executive Education registrants or multiple attendees from the same company. KPMG Alumni, full-time students and university faculty may also be eligible for a discount. For more information, please contact KPMG Learning by phone at or by at [email protected]. Participants who notify the registrar more than 10 full business days before a session may receive full credit toward a future program or a refund of their tuition less a $185 administrative service charge. Registrants canceling within 10 full business days of a session will receive full credit to a future program. Held tuition credit will expire one year from the start date of the program originally cancelled and can be used by the original registrant or another member of their company to attend an Executive Education course being held at any time before such expiration date. Registrants failing to attend a session or not canceling at least 3 full business days before the session will be assessed the full program fee. Attire Business casual attire recommended. To Register: ONLINE: ExecEd.kpmg.com BY PHONE: BY MAIL (Checks only): KPMG Learning Executive Education PO Box Dept Dallas, TX To complete registration by mail, please send the below registration form along with your check made payable to KPMG LLP - Executive Education. For more information regarding administrative policies, or for further assistance, please contact our offices at or by at [email protected]. NASBA CPE Sponsor KPMG LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to The National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN ; Web site: 1. First Name Last Name Nickname for Badge Title Address Business Telephone ( ) Fax ( ) Company Address City State Zip 2. First Name Last Name Nickname for Badge Title Address Business Telephone ( ) Fax ( ) Enroll me in the following program (s) (for multiple registrations, please copy this form): Program Course No. Registration Fee $ Date Location Program Course No. Registration Fee $ Date Location KPMG NASBA sponsor #:

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28 KPMG Learning Executive Education Three Chestnut Ridge Road Montvale, NJ SUMMER FALL 2013 KPMG Learning Executive Education Continuing Education for Corporate Executives and Their Staff ExecEd.kpmg.com member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International. NDPPS