Course Detail(A220 : FRS Update for the Reporting Season 2017)

A220 : FRS Update for the Reporting Season 2017

7.00 CPE Hours (Category 1)
Classroom

Programme Objective

The programme aims to provide an overview of the new/revised standards effective for the years 2016, 2017, 2018 and 2019, issued by the International Accounting Standards Board (IASB) and their respective application in Singapore by the Accounting Standards Council (ASC). Practical examples to solve problems in selected standards will also be discussed.
 

Programme Outline

  1. Overview of projects of the IASB and current trends
 
  1. Selected standards in previous revisions
  • Revision of FRS 113 Fair Value Standard
  • Discussion of deferred tax on intergroup profits
 
  1. New/Revised standards effective in 2016
  • IFRS 14 / FRS 114 Regulatory Deferral Accounts
  • Amendments to IFRS 11 / FRS 111 - Accounting for Acquisition of Interest in Joint Operations
  • Amendments to IAS 16 and IAS 38 / FRS 16 and FRS 38 - Clarification of Acceptable Methods of Depreciation and Amortisation
  • Amendments to IAS 16 and IAS 41 / FRS 16 and FRS 41 - Agriculture: Bearer Plants
  • Amendments to IAS 27 / FRS 27 - Equity Method in Separate Financial Statements
  • Amendments to IAS 1 / FRS 1 - Disclosure Initiative
  • Amendment to IFRS 10, IFRS 12 and IAS28 / FRS 110, FRS 112 and FRS 28 - Investment Entities: Applying the Consolidation Exemption
 
Annual Improvement Cycle 2012 - 2014  
  1. New/Revised standards effective in 2017
 
  • Amendments to IAS 7 / FRS 7 – Disclosure initiative
  • Amendments to IAS 12 / FRS 12 - Recognition of deferred tax assets for unrealised losses
  • Annual Improvement Cycle (Issued in December 2016)
 
  1. New/Revised standards effective in 2018
 
  • IFRS 9 / FRS 109 Financial Instruments (basics of the new standard)
  • IFRS 15 / FRS 115 Revenue from Contracts with Customers (basics of the new standard)
  • Amendments to IFRS 2 / FRS 102 - Classification and Measurement of Share-based Payment Transactions
  • Amendments to IAS 40 / FRS 40 - Transfers of Investment Property
  • Amendments to IFRS 4 / FRS 104 Insurance Contracts
 
  1. New/Revised standards effective in 2019
 
  • IFRS 16 / FRS 116 Leases
 
  1. Latest issues / updates

Intended For

A Foundation to Intermediate Level programme intended for 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 programme beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

07 Dec 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Date & Time

06 Jul 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Date & Time

16 May 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Michel Herrmann
WP, StB, CPA (US and Singapore)

 
Michel has accumulated over 10 years experience in accounting advisory and was with PricewaterhouseCoopers since 2001. He has gained extensive experience in advising multinational companies with complex accounting and tax structures, specializing on accounting issues and structuring in the areas of business combinations, revenue recognition, deferred tax and financial instruments.
While working in Germany, Michel was a member of the German technical accounting group and also a frequent guest speaker at the University of Giessen and the national convention of German CPAs. Michel has co-authored several publications on international accounting. He graduated with a MBA from the University of Mannheim, and is qualified as a US-CPA, SG-CPA, German tax advisor and German CPA.

Programme Objective

The programme aims to provide an overview of the new/revised standards effective for the years 2016, 2017, 2018 and 2019, issued by the International Accounting Standards Board (IASB) and their respective application in Singapore by the Accounting Standards Council (ASC). Practical examples to solve problems in selected standards will also be discussed.
 

Programme Outline

  1. Overview of projects of the IASB and current trends
 
  1. Selected standards in previous revisions
  • Revision of FRS 113 Fair Value Standard
  • Discussion of deferred tax on intergroup profits
 
  1. New/Revised standards effective in 2016
  • IFRS 14 / FRS 114 Regulatory Deferral Accounts
  • Amendments to IFRS 11 / FRS 111 - Accounting for Acquisition of Interest in Joint Operations
  • Amendments to IAS 16 and IAS 38 / FRS 16 and FRS 38 - Clarification of Acceptable Methods of Depreciation and Amortisation
  • Amendments to IAS 16 and IAS 41 / FRS 16 and FRS 41 - Agriculture: Bearer Plants
  • Amendments to IAS 27 / FRS 27 - Equity Method in Separate Financial Statements
  • Amendments to IAS 1 / FRS 1 - Disclosure Initiative
  • Amendment to IFRS 10, IFRS 12 and IAS28 / FRS 110, FRS 112 and FRS 28 - Investment Entities: Applying the Consolidation Exemption
 
Annual Improvement Cycle 2012 - 2014  
  1. New/Revised standards effective in 2017
 
  • Amendments to IAS 7 / FRS 7 – Disclosure initiative
  • Amendments to IAS 12 / FRS 12 - Recognition of deferred tax assets for unrealised losses
  • Annual Improvement Cycle (Issued in December 2016)
 
  1. New/Revised standards effective in 2018
 
  • IFRS 9 / FRS 109 Financial Instruments (basics of the new standard)
  • IFRS 15 / FRS 115 Revenue from Contracts with Customers (basics of the new standard)
  • Amendments to IFRS 2 / FRS 102 - Classification and Measurement of Share-based Payment Transactions
  • Amendments to IAS 40 / FRS 40 - Transfers of Investment Property
  • Amendments to IFRS 4 / FRS 104 Insurance Contracts
 
  1. New/Revised standards effective in 2019
 
  • IFRS 16 / FRS 116 Leases
 
  1. Latest issues / updates

Intended For

A Foundation to Intermediate Level programme intended for 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 programme beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Michel Herrmann
WP, StB, CPA (US and Singapore)

 
Michel has accumulated over 10 years experience in accounting advisory and was with PricewaterhouseCoopers since 2001. He has gained extensive experience in advising multinational companies with complex accounting and tax structures, specializing on accounting issues and structuring in the areas of business combinations, revenue recognition, deferred tax and financial instruments.
While working in Germany, Michel was a member of the German technical accounting group and also a frequent guest speaker at the University of Giessen and the national convention of German CPAs. Michel has co-authored several publications on international accounting. He graduated with a MBA from the University of Mannheim, and is qualified as a US-CPA, SG-CPA, German tax advisor and German CPA.

Upcoming Schedule

Registration is closed

Date & Time

07 Dec 2017 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

Michel Herrmann

Venue

60 Cecil Street
ISCA House
Singapore 049709