Course Detail(A088 : FRS 37: Provisions, Contingent Liabilities and Contingent Assets)
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A088 : FRS 37: Provisions, Contingent Liabilities and Contingent Assets

3.50 CPE Hours (Category 1)
Classroom


Programme Objective

To equip participants with a clear understanding of and the ability to apply the recognition criteria and measurement bases as applied to provisions, contingent liabilities and contingent assets and the required disclosures. 
To ensure that participants are able to:

  • Differentiate between
    • provisions and contingent liabilities
    • provisions and other liabilities
  • Present contingent liabilities and contingent assets appropriately in the financial statements
  • Apply the appropriate measurement requirements to provisions
  • Apply the requirements to specific situations

Programme Outline

  • Definitions
  • Relationship between provisions and contingent liabilities
  • Recognition criteria for provisions
    • Key characteristics of provisions
      • Present obligation
      • Past event
      • Probable outflow
  • Reliable estimate of the obligation
  • Accounting treatment of contingent liabilities
  • Accounting treatment of contingent assets
 
  • Measurement
    • Determining best estimates
    • Effects of risk and uncertainties, time value of money, future events, expected disposals of assets
    • Reimbursements
    • Changes in provisions
    • Application of recognition and measurement requirements to specific situations
      • Future operating losses
      • Onerous contracts
      • Restructuring
      • Disclosures
 
Training Methodology
Lecture style, with Exercises/Case Studies

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate to Advanced level programme targeted at both Practicing and Non-Practicing Accounting and Audit Professionals. Those who wish to achieve deeper understanding in FRS 37 are encouraged to attend.

Competency Mapping

Category 1 = 3.50 Hours

Schedule & Fees
Date & Time

12 Oct 2018 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Kee Sok Hwee Matilda
Date & Time

09 Oct 2017 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Kee Sok Hwee Matilda
Date & Time

10 Oct 2016 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Kee Sok Hwee Matilda

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Kee Sok Hwee Matilda
Fellow Chartered Accountant of Singapore
 
Ms Kee Sok Hwee Matilda is a Fellow Chartered Accountant (FCA) of the Institute of Singapore Chartered Accountants (ISCA).
 
She has 30 years of professional practice experience in auditing and financial accounting.  She has held appointments of Audit Senior Manager and Associate Director for Learning and Development at KPMG. As an Associate Director, she developed and conducted training on audit methodologies, FRSs and banking laws and regulations for 7 years.  She also held the position of Deputy Director at the Monetary Authority of Singapore with responsibilities for financial supervision of banks. Over the years, she has accumulated overseas working experience through international audit secondment and representation at international central bank supervisors meetings.
 
She is an Associate Lecturer and teaches courses in financial and management accounting and business statistics.  She is also an independent technical and training consultant and a facilitator for the Singapore Qualification Programme (QP) Professional Development workshops.


Programme Objective

To equip participants with a clear understanding of and the ability to apply the recognition criteria and measurement bases as applied to provisions, contingent liabilities and contingent assets and the required disclosures. 
To ensure that participants are able to:

  • Differentiate between
    • provisions and contingent liabilities
    • provisions and other liabilities
  • Present contingent liabilities and contingent assets appropriately in the financial statements
  • Apply the appropriate measurement requirements to provisions
  • Apply the requirements to specific situations

Programme Outline

  • Definitions
  • Relationship between provisions and contingent liabilities
  • Recognition criteria for provisions
    • Key characteristics of provisions
      • Present obligation
      • Past event
      • Probable outflow
  • Reliable estimate of the obligation
  • Accounting treatment of contingent liabilities
  • Accounting treatment of contingent assets
 
  • Measurement
    • Determining best estimates
    • Effects of risk and uncertainties, time value of money, future events, expected disposals of assets
    • Reimbursements
    • Changes in provisions
    • Application of recognition and measurement requirements to specific situations
      • Future operating losses
      • Onerous contracts
      • Restructuring
      • Disclosures
 
Training Methodology
Lecture style, with Exercises/Case Studies

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate to Advanced level programme targeted at both Practicing and Non-Practicing Accounting and Audit Professionals. Those who wish to achieve deeper understanding in FRS 37 are encouraged to attend.

Competency Mapping

Category 1 = 3.50 Hours

Programme Facilitator(s)

Kee Sok Hwee Matilda
Fellow Chartered Accountant of Singapore
 
Ms Kee Sok Hwee Matilda is a Fellow Chartered Accountant (FCA) of the Institute of Singapore Chartered Accountants (ISCA).
 
She has 30 years of professional practice experience in auditing and financial accounting.  She has held appointments of Audit Senior Manager and Associate Director for Learning and Development at KPMG. As an Associate Director, she developed and conducted training on audit methodologies, FRSs and banking laws and regulations for 7 years.  She also held the position of Deputy Director at the Monetary Authority of Singapore with responsibilities for financial supervision of banks. Over the years, she has accumulated overseas working experience through international audit secondment and representation at international central bank supervisors meetings.
 
She is an Associate Lecturer and teaches courses in financial and management accounting and business statistics.  She is also an independent technical and training consultant and a facilitator for the Singapore Qualification Programme (QP) Professional Development workshops.

Upcoming Schedule

Registration is closed

Date & Time

12 Oct 2018 (2:00 PM - 5:30 PM)
Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

Kee Sok Hwee Matilda

Venue

137 Cecil Street
Level 3
Hengda Building
Singapore 069537


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