Course Detail(A182 : IFRS 15 / FRS 115: Revenue from Contracts with Customers (Live Webinar))

A182 : IFRS 15 / FRS 115: Revenue from Contracts with Customers (Live Webinar)

7.00 CPE Hours (Category 1)
Classroom

Please be informed that as per Ministry of Health’s (MOH) guidelines on tighter measures that was announced on 24th March 2020, we will be changing the format of the session on 26 Jun 2020  into a Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. 

Programme Objective

This programme will cover the new accounting standard on revenue recognition. Revenue from Contracts with Customers, IFRS 15 / FRS 115 will replace IAS 18 (FRS 18) Revenue, with a current effective date of 2018. Emphasis will be on the application of the new standard and identifying changes from IAS 18 as well as implementation challenges.

Programme Outline

  • Brief overview of the basis for the revisions and desired outcomes
  • Scope limitations of the standard
  • Applying the principles of the standard:
  • Identifying the contract
  • Contract modifications
  • Identifying the performance obligations
  • Satisfaction of performance obligations
  • Determining the transaction price
  • Allocating the transaction price to multiple performance obligations
  • Changes in transaction price
  • Contract costs
  • Presentation and disclosure under the new standard
  • Focus on specific implementation issues including:
  • Construction contracts
  • Multiple performance obligations such as with IT hardware and software
  • Principal and agent issues
  • Review of implementation guidance and comparison to IAS 18
  • Effective date and transitional provisions
  • Which alternative transitional provisions to apply
  • Need for foresight on new contracts and termination of existing contracts
  • Implementation issues to consider

Training Methodology
Lecture style, with Examples
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate level programme intended for both Practising and Non-Practising Accountants and Auditors such as: Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. Other users of financial information will also find the seminar beneficial. Other users of financial information will also find the seminar beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

26 Jun 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61   $ 276.49
For Non-Members: $ 415.16   $ 332.13
Discounts till 30 Jun 2020

Programme Facilitator(s)

Sardool Singh

Venue

Online Classroom in or outside of
Singapore

Date & Time

07 Feb 2020 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sardool Singh

Date & Time

28 Jun 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sardool Singh

Date & Time

11 Feb 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sardool Singh

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Sardool Singh
 
Sardool is an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He has been lecturing for the past 20 years, and is a highly sought-after seminar leader in the areas of Updates of recent Financial Reporting Standards, Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics. Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is the Chief Financial Officer of an Investment Company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. His other working experiences included three years with KPMG Peat Marwick and a year with a Japanese merchant bank.

 

Please be informed that as per Ministry of Health’s (MOH) guidelines on tighter measures that was announced on 24th March 2020, we will be changing the format of the session on 26 Jun 2020  into a Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. 

Programme Objective

This programme will cover the new accounting standard on revenue recognition. Revenue from Contracts with Customers, IFRS 15 / FRS 115 will replace IAS 18 (FRS 18) Revenue, with a current effective date of 2018. Emphasis will be on the application of the new standard and identifying changes from IAS 18 as well as implementation challenges.

Programme Outline

  • Brief overview of the basis for the revisions and desired outcomes
  • Scope limitations of the standard
  • Applying the principles of the standard:
  • Identifying the contract
  • Contract modifications
  • Identifying the performance obligations
  • Satisfaction of performance obligations
  • Determining the transaction price
  • Allocating the transaction price to multiple performance obligations
  • Changes in transaction price
  • Contract costs
  • Presentation and disclosure under the new standard
  • Focus on specific implementation issues including:
  • Construction contracts
  • Multiple performance obligations such as with IT hardware and software
  • Principal and agent issues
  • Review of implementation guidance and comparison to IAS 18
  • Effective date and transitional provisions
  • Which alternative transitional provisions to apply
  • Need for foresight on new contracts and termination of existing contracts
  • Implementation issues to consider

Training Methodology
Lecture style, with Examples
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate level programme intended for both Practising and Non-Practising Accountants and Auditors such as: Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. Other users of financial information will also find the seminar beneficial. Other users of financial information will also find the seminar beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Sardool Singh
 
Sardool is an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He has been lecturing for the past 20 years, and is a highly sought-after seminar leader in the areas of Updates of recent Financial Reporting Standards, Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics. Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is the Chief Financial Officer of an Investment Company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. His other working experiences included three years with KPMG Peat Marwick and a year with a Japanese merchant bank.

 

Upcoming Schedule

Date & Time

26 Jun 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61   $ 276.49
For Non-Members: $ 415.16   $ 332.13
Discounts till 30 Jun 2020

Programme Facilitator(s)

Sardool Singh

Venue

Online Classroom in or outside of
Singapore