Course Detail()

Programme Objective

To provide Accounting, Finance and Audit professionals with guidance on the accounting for non-profit entities such as clubs, cooperative, societies, business chambers and charities. This course will also cover the key financial statement reporting, disclosure and compliance requirements.

Programme Outline

Overview of financial reporting framework for non-profit entities in Singapore

Financial Reporting Standards
Charities Accounting standards
Other framework for smaller non-profit entities
Withdrawal of RAP 6 and replacement with CAS

Overview of non-profit sector in Singapore

Societies
Cooperative
Charities
Clubs
Business chambers

Overview of Business Vehicle for charities in Singapore

Companies Act, chapter 50, companies limited by guarantee
Societies Act, Chapter 311
Trustee Act, Chapter 337
Co-operative Societies Act, Chapter 62

Compliance requirement for non-profit entities: Key provisions on:

Charity Act
Charity Act (IPC)
Charity Act (account and annual report)
Charity Act (large charity)
Society Act
Society Regulations
Cooperative Societies Rules 2009
Trustee Act

Overview of the following Codes of Governance

Code of Governance for Registered Societies
Code of Governance for charities and IPC

Overview of internal control for charities and non-profit entities

Level of defense

Accounting for common finance statement items and its disclosures

Donations
- designated donations;
- general donations; and
- donations in kinds
Grant
- Operating grant; and
- capital grant
Funds
- trust funds; and
- general funds
Reserve
- General reserve;
- Designated reserve; and
- Restricted reserve
Deferred capital grants
Government grants
Assets held on trusts

Statutory obligation for charities:

Annual report
Financial statements
AGM
Governance instruments
Financial reporting and other info to sector administrator
Financial reporting and other info to NCSS
Tax submission to IRAS

Role of sector administrators and other regulators/enablers

5 sector administrators
Charity commissioner
NCCS
ROS
Registry of co-operative societies

Training Methodology
Lecture style with exercises, practical case studies and problems-based-learning

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

Intended For

This Foundation to Intermediate Level programme is suitable for Accounting, Finance and Audit professionals who would like to achieve a deeper understanding on the issues involved in the accounting for non-profit entities.

Schedule & Fees

Testimonial

Funding

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

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022. *This excludes miscellaneous fees such as GST and registration fee etc.

This course is approved for UTAP support for intakes conducted between 01 April 2021 – 31 March 2022.

As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
Course by training provider must be supported under UTAP and training must commence within the supported period and;
Unfunded course fee must not be fully sponsored by company or other types of funding
Unfunded course fee must be S$20.00 and above, and;
Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
UTAP application must be made within 6 months after course ends.

To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
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)