Moore – Monitoring and documenting Compliance with Loan Covenants

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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 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

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Moore – Monitoring and documenting Compliance with Loan Covenants
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