Course Detail(A258 : Fair Value Accounting: Concerns and Challenges)

UTAP Funding

A258 : Fair Value Accounting: Concerns and Challenges

3.50 CPE Hours (Category 1)
Classroom

To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.

Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.

Join us and be a Difference Maker!

 




(Formerly A224:Fair Valuation of Financial Instruments: Fundamental Concerns & Issues)

Programme Objective

This programme provides an overview on fair value accounting and some of the difficulties relating to the fair value measurement process. Other topics covered include fair value accounting and its implications for auditors as well as an understanding of the controversy surrounding fair value accounting for liabilities. We will also discuss some of the major controversies surrounding fair value accounting using a case study approach from notable examples such as Wells Fargo, Deustche Bank and Goldman Sachs. In the local context, we will explore how fair value accounting impacts the financial results in Noble Group with regard to the valuation of its derivative contracts as well as the recent case involving Hyflux Ltd over the restructuring of its company debt.

Programme Outline

(1) Apply the key concepts and principles of the fair value measurement process
(2) Understand why fair value accounting is such a controversial topic to the accounting profession

(3) Discuss the audit implications relating to fair value accounting

(4) Analyze real world examples surrounding some of the major fair value accounting controversies and how do firms deal with it

(5) Examine fundamental measurement difficulties regarding Level 2 and Level 3 assets and its implications to the audit profession

(6) Discuss pertinent issues about fair value accounting for liabilities and its effects on the financial statements

For this seminar, we will use provisions from the following Financial Reporting Standards (FRS):
FRS109 – Financial Instruments
FRS 113 – Fair value measurements

Training Methodology

Lectures, facilitated by Powerpoint presentation, discussions, case studies, and sharing of practical situations.

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

Accountants, Auditors, Preparers of financial statements, Financial Controllers.

Competency Mapping

Category 1 = 3.50 Hours

Schedule & Fees

Date & Time

19 Dec 2024 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 257.24
For Non-Members: $ 307.38

Programme Facilitator(s)

Dr Kevin Ow Yong

Venue

60 Cecil Street
ISCA House
Singapore 049709

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

To find out more on the UTAP funding and support validity period please click here.

Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)


Dr Kevin Ow Yong
PhD, BAcc (First Class Hons), CA (Singapore), CPA, CFA

Dr. Kevin Ow Yong is Associate Professor of Accounting at Singapore Institute of Technology. He holds a First Class Honours Degree (with University Medal) in Accounting from Nanyang Technological University and received his PhD degree from Duke University. He has previously worked at Peking University as an associate professor, Singapore Management University as an assistant professor, and Singapore Airlines as a regional accountant and financial analyst.

Dr Ow Yong has been a Chartered Accountant (CA) and Certified Public Accountant (CPA) since 2003 as well as a Chartered Financial Analyst (CFA) since 2002. He currently sits on the UAFRS Advisory Council with Valens Research. Furthermore, he is a member of the Sustainability Education Committee with the Singapore Institute of Technology and IS Chartered Accountant Journal Editorial Advisory Panel with the Institute of Singapore Chartered Accountants. He had written a co-op article Don’s Column: Accounting Education for Sustainability that was published in the April 2022’s IS Chartered Accountant Journal.

He has previously served on the Candidate Programmes Committee with the CFA Society (Singapore) and on the advisory board with Brahm Centre, a non-profit charity organization as their Finance Advisor. He has also served as Head of the Accounting Technology & Innovation Centre (AccTech).

To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.

Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.

Join us and be a Difference Maker!

 




(Formerly A224:Fair Valuation of Financial Instruments: Fundamental Concerns & Issues)

Programme Objective

This programme provides an overview on fair value accounting and some of the difficulties relating to the fair value measurement process. Other topics covered include fair value accounting and its implications for auditors as well as an understanding of the controversy surrounding fair value accounting for liabilities. We will also discuss some of the major controversies surrounding fair value accounting using a case study approach from notable examples such as Wells Fargo, Deustche Bank and Goldman Sachs. In the local context, we will explore how fair value accounting impacts the financial results in Noble Group with regard to the valuation of its derivative contracts as well as the recent case involving Hyflux Ltd over the restructuring of its company debt.

Programme Outline

(1) Apply the key concepts and principles of the fair value measurement process
(2) Understand why fair value accounting is such a controversial topic to the accounting profession

(3) Discuss the audit implications relating to fair value accounting

(4) Analyze real world examples surrounding some of the major fair value accounting controversies and how do firms deal with it

(5) Examine fundamental measurement difficulties regarding Level 2 and Level 3 assets and its implications to the audit profession

(6) Discuss pertinent issues about fair value accounting for liabilities and its effects on the financial statements

For this seminar, we will use provisions from the following Financial Reporting Standards (FRS):
FRS109 – Financial Instruments
FRS 113 – Fair value measurements

Training Methodology

Lectures, facilitated by Powerpoint presentation, discussions, case studies, and sharing of practical situations.

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

Accountants, Auditors, Preparers of financial statements, Financial Controllers.

Competency Mapping

Category 1 = 3.50 Hours

Programme Facilitator(s)

Dr Kevin Ow Yong
PhD, BAcc (First Class Hons), CA (Singapore), CPA, CFA

Dr. Kevin Ow Yong is Associate Professor of Accounting at Singapore Institute of Technology. He holds a First Class Honours Degree (with University Medal) in Accounting from Nanyang Technological University and received his PhD degree from Duke University. He has previously worked at Peking University as an associate professor, Singapore Management University as an assistant professor, and Singapore Airlines as a regional accountant and financial analyst.

Dr Ow Yong has been a Chartered Accountant (CA) and Certified Public Accountant (CPA) since 2003 as well as a Chartered Financial Analyst (CFA) since 2002. He currently sits on the UAFRS Advisory Council with Valens Research. Furthermore, he is a member of the Sustainability Education Committee with the Singapore Institute of Technology and IS Chartered Accountant Journal Editorial Advisory Panel with the Institute of Singapore Chartered Accountants. He had written a co-op article Don’s Column: Accounting Education for Sustainability that was published in the April 2022’s IS Chartered Accountant Journal.

He has previously served on the Candidate Programmes Committee with the CFA Society (Singapore) and on the advisory board with Brahm Centre, a non-profit charity organization as their Finance Advisor. He has also served as Head of the Accounting Technology & Innovation Centre (AccTech).


Upcoming Schedule

Date & Time

19 Dec 2024 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 257.24
For Non-Members: $ 307.38

Programme Facilitator(s)

Dr Kevin Ow Yong

Venue

60 Cecil Street
ISCA House
Singapore 049709