Course Detail(A179 : A Guide to Essential FRSs)

SDF Funding, SkillsFuture Credit

A179 : A Guide to Essential FRSs

7.00 CPE Hours (Category 1)
Classroom

Please be informed that in view of the current COVID-19 situation, ISCA will change the format of Jun - Sep 2020 courses into Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. Please sign up for a Zoom account (https://zoom.us/) if you currently do not have an account.

The live webinar session is eligible for SkillsFuture Singapore (SSG) funding.
Please proceed to submit your claim application as per usual as there are no changes to funding application procedures. On SSG portal, please take note to select the correct course title, which includes the term "Synchronous e-learning".


Programme Objective

This seminar will provide you a practical overview of the essential FRSs that each and every accountant should be aware of.

This is a highly interactive seminar which will include plenty of short case examples, fun facts and real life illustrations using several renowned and reputable Singapore listed companies to help reinforce the learning concepts and outcomes.

Participants will, after this seminar, feel more comfortable when faced with a set of financial statements.

 

Programme Outline

  • IFRS and U.S. GAAP: What in the World is the Difference?
  • FRS 1  Presentation of Financial Statements
  • FRS 2  Inventories
  • FRS 8  Accounting Policies, Changes in Accounting Estimates and Errors
  • FRS 10  Events after the Reporting Period
  • FRS 11 Construction Contracts (Superseded by FRS 115 Revenue from Contracts with Customers) 
  • FRS 12  Income Taxes
  • FRS 16  Property, Plant and Equipment
  • FRS 18  Revenue (Superseded by FRS 115 Revenue from Contracts with Customers)
  • FRS 24  Related Party Disclosures
  • FRS 32  Financial Instruments: Presentation
  • FRS 36  Impairment of Assets
  • FRS 37  Provisions, Contingent Liabilities and Contingent Assets
  • FRS 38  Intangible Assets
  • FRS 39  Financial Instruments: Recognition and Measurement (Superseded by FRS 109 Financial Instruments: Recognition and Measurement)
  • FRS 40  Investment Property
  • FRS 105  Non-Current Assets Held for Sale and Discontinuing Operations
  • FRS 108 Operating Segments
  • FRS 113  Fair Value Measurements
  • Quiz Time – “Who Wants to be a FRS Genius”


Why Attend this Seminar? Why this One?

The answer is communication. This seminar will help you better understand the language of finance.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of finance and accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.


Training Methodology

Seminar style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Talk to Your Neighbour’, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as Prof Sandhu’s trademark end-of-day fun and exciting quiz round (Who Wants to be a FRS Genius) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A Foundation level programme intended for professionals who wish to develop a good understanding of the current accounting standards in Singapore.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

16 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

13 Aug 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

14 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 14 Oct 2021
Course Reference Number: TGS-2020501908

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 14 Oct 2021
Funded Hours: 7 hours
Course Reference Number: TGS-2020501908

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     

 

For course run start date before 1 Nov 2020, submit training grant application in SCN until 30 Nov 2020.

For course run start date on or after 1 Nov 2020, Enterprises/employers are NOT required to log into TPGateway/SCN to submit training grant.

Remarks

Step 2: After receiving email that the programme status is confirmed, please proceed to submit the Training Grant application via SkillsConnect Portal (https://www.skillsconnect.gov.sg/).

Employers of company-sponsored participants must submit training grant via SkillsConnect to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date.

The employee’s enrolment, attendance and assessment recordswill be submitted by ISCA onto TPGateway.


Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

Programme Facilitator(s)


Sarjit Singh
FCA (Singapore), FCA (Australia)

Chairman, Kreston Ardent CAtrust PAC

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 

Please be informed that in view of the current COVID-19 situation, ISCA will change the format of Jun - Sep 2020 courses into Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. Please sign up for a Zoom account (https://zoom.us/) if you currently do not have an account.

The live webinar session is eligible for SkillsFuture Singapore (SSG) funding.
Please proceed to submit your claim application as per usual as there are no changes to funding application procedures. On SSG portal, please take note to select the correct course title, which includes the term "Synchronous e-learning".


Programme Objective

This seminar will provide you a practical overview of the essential FRSs that each and every accountant should be aware of.

This is a highly interactive seminar which will include plenty of short case examples, fun facts and real life illustrations using several renowned and reputable Singapore listed companies to help reinforce the learning concepts and outcomes.

Participants will, after this seminar, feel more comfortable when faced with a set of financial statements.

 

Programme Outline

  • IFRS and U.S. GAAP: What in the World is the Difference?
  • FRS 1  Presentation of Financial Statements
  • FRS 2  Inventories
  • FRS 8  Accounting Policies, Changes in Accounting Estimates and Errors
  • FRS 10  Events after the Reporting Period
  • FRS 11 Construction Contracts (Superseded by FRS 115 Revenue from Contracts with Customers) 
  • FRS 12  Income Taxes
  • FRS 16  Property, Plant and Equipment
  • FRS 18  Revenue (Superseded by FRS 115 Revenue from Contracts with Customers)
  • FRS 24  Related Party Disclosures
  • FRS 32  Financial Instruments: Presentation
  • FRS 36  Impairment of Assets
  • FRS 37  Provisions, Contingent Liabilities and Contingent Assets
  • FRS 38  Intangible Assets
  • FRS 39  Financial Instruments: Recognition and Measurement (Superseded by FRS 109 Financial Instruments: Recognition and Measurement)
  • FRS 40  Investment Property
  • FRS 105  Non-Current Assets Held for Sale and Discontinuing Operations
  • FRS 108 Operating Segments
  • FRS 113  Fair Value Measurements
  • Quiz Time – “Who Wants to be a FRS Genius”


Why Attend this Seminar? Why this One?

The answer is communication. This seminar will help you better understand the language of finance.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of finance and accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.


Training Methodology

Seminar style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Talk to Your Neighbour’, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as Prof Sandhu’s trademark end-of-day fun and exciting quiz round (Who Wants to be a FRS Genius) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A Foundation level programme intended for professionals who wish to develop a good understanding of the current accounting standards in Singapore.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Sarjit Singh
FCA (Singapore), FCA (Australia)

Chairman, Kreston Ardent CAtrust PAC

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 

Upcoming Schedule

Registration is closed

Date & Time

16 Dec 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Sarjit Singh

Venue

137 Cecil Street
Level 4
Cecil Building
Singapore 069537