Course Detail()

This session is delivered via live webinar (zoom platform).

A detailed set of instructions on the Live Webinar will be sent to you closer to date.

Programme Objective

This programme aims to provide an overview on the key differences between FRS and US GAAP. The programme aims to illustrate the impact of the different accounting rules on the financial statements of the companies. Additionally the programme provides an inside on the current roadmap of IFRS in the US (acceptance by SEC) and will highlight the latest exposure drafts and joint projects of the IASB and FASB.

Programme Outline

Overview of IFRS / US GAAP Differences
- Conceptual Framework
- Financial Statements
- Segment disclosures
- Interim reporting
- Discontinued operations
Impact of accounting differences in practise
- Equity items
- Assets
  - Inventories
  - Property, plant and equipment
  - Borrowing costs
  - Intangible assets
  - Investment property
  - Impairment testing
- Liabilities
  - Employee benefits, including pensions
  - Provisions and contingencies
  - Leases
  - Deferred taxes
- Revenue Recognition
Impact on Business Combinations, Consolidations & Mergers
- Business combinations, including a recap of changes resulting from the new standard
- Consolidations and accounting for NCI
- Common control transactions
Convergence Issues
- Prospects and timetable for IFRS/US GAAP convergence
- Short term convergence topics
- IASB and FASB joint projects

Pre-requisites

Please take note of the following admission requirements:

Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
Mandatory for video camera to be turned on throughout the course
Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology
Lecture style, with Exercises / Case Studies

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

Intended For

An 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 and also for those who wants to understand the key differences between FRS and US GAAP. Other users of financial information will also find the programme beneficial.

Schedule & Fees

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 07 Jan 2025
Course Reference Number: TGS-2020501922

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 www.myskillsfuture.gov.sg)

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

Step 1: You will need to ensure that you have sufficient SkillsFuture Credits in your SkillsFuture Credit account in order to make a successful claim. Please check your SFC account balance here.
Step 2: Register for the course online via ISCA Portal.
Step 3: Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information.
Step 4: At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
Step 5:Upon receiving an email that the programme status is confirmed, please proceed to submit SFC claim on SkillsFuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal (www.myskillsfuture.gov.sg).

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 $43.20 for any revision of invoice.

2] 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)