Programme Overview
 
The principles of accounting Standards are constantly evolving due to the improvements, amendments and issuance of new Standards in order to account for the complex and diverse business environments. Keeping up to date with the practices of accounting Standards under such dynamic environment is a daunting task for every accountant in practice. This seminar attempts to make the task easier by giving an overview of the principles in the selected Standards and most important of all how these principles are being interpreted in light to contemporary practices.
 
Accounting Standards Council of Singapore issued a new reporting framework ‘Singapore Financial Reporting Standards (International)’ [SFRS(I)]. These Standards are equivalent to International Financial Reporting Standards (IFRS). The SFRS(I) that are applicable for financial period beginning on or after 1 January 2018. Compliance with SFRS(I) is mandatory for companies listed in SGX for annual financial period beginning on or after 1 January 2018.
 
 
Programme Objective
 
The seminar gives a practical analysis and review of selected FRSs and IFRSs. It is intended for busy professionals requiring a refresher course on the technical principles of Financial Reporting Standards and their applications in accordance with Generally Accepted Accounting Practice in Singapore. The seminar uses practical scenarios to address the complex issues of interpreting the principles of the Standards. It highlights areas where practitioners may come to different interpretations and how these differences may be overcome based on past experience and the use of judgement derived from the “Framework”.

 

Programme Outline

 

IFRS	SFRS(I)	FRS	PART I OVERVIEW AND ANALYSIS OF SELECTED FINANCIAL REPORTING ISSUES
			PRESENTATION AND DISLCOSURE OF FINANCIAL STATEMENTS
IAS 1	SFRS(I) 1-1	FRS1	Presentation of Financial Statements
IAS 7	SFRS(I) 1-7	FRS7	Statement of Cash Flows
IAS 24	SFRS(I) 1-24	FRS24	Related Party Disclosures
			REVENUE AND OTHER TRANSACTIONS AND EVENTS
IFRS 15	IFRS 15	FRS115	Revenue from Contracts with Customers (Effective 1 January 2018)
IAS 8	SFRS(I) 1-8	FRS8	Accounting Policies, Changes in Accounting Estimates and Errors
IAS 10	SFRS(I) 1-10	FRS10	Events After the Reporting Period
			STANDARDS AFFECTING MEASUREMENT
IAS 21	SFRS(I) 1-21	FRS21	The Effect of Changes in Foreign Exchange Rates
IAS 23	SFRS(I) 1-23	FRS23	Borrowing Costs
IFRS 13	SFRS(I) 13	FRS113	Fair Value Measurement
			PART II ASSETS AND LIABILITIES
			ACCOUNTING FOR NON-CURRENT ASSETS
IAS 16	SFRS(I) 1-16	FRS16	Property, Plant and Equipment
IAS 40	SFRS(I) 1-40	FRS40	Investment Property
IAS 38	SFRS(I) 1-38	FRS38	Intangible Assets
IAS 36	SFRS(I) 1-36	FRS36	Impairment of Assets
IFRS 5	SFRS(I) 5	FRS105	Non-current Assets Held for Sale and Discontinued Operations
			ACCOUNTING FOR OBLIGATIONS
IAS 37	SFRS(I) 1-37	FRS37	Provisions, Contingent Liabilities and Contingent Assets
IAS 20	SFRS(I) 1-20	FRS20	Accounting for Government Grants and Disclosure of Government Assistance
IFRS 16	SFRS(I) 16	FRS116	Leases (Effective 1 January 2019)
			PART III FINANCIAL INSTRUMENTS AND ACCOUNTING FOR INVESTMENT INTERESTS
			FINANCIAL INSTRUMENTS
IAS 32	SFRS(I) 1-32	FRS32	Financial Instruments: Presentation
IFRS 7	SFRS(I) 7	FRS107	Financial Instruments: Disclosure
IFRS 9	SFRS(I) 9	FRS109	Financial Instruments (Effective 1 January 2018)
			BUSINESS COMBINATIONS AND SUBSTANTIAL INVESTMENT INTEREST
IFRS 3	SFRS(I) 3	FRS103	Business Combinations
IAS 27	SFRS(I) 1-27	FRS27	Separate Financial Statements
IAS 28	SFRS(I) 1-28	FRS28	Investments in Associates and Joint Ventures
IFRS 10	SFRS(I) 10	FRS110	Consolidated Financial Statements
IFRS 11	SFRS(I) 11	FRS111	Joint Arrangement
IFRS 12	SFRS(I) 12	FRS112	Disclosure of Interest in Other Entities

 
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 practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.
  
Closing Date for Registration

1 week before programme or until full enrolment
 

Intended For

This programme is suitable for all Finance Professionals, Audit Professionals, Members of Audit Committee, Finance Directors and Regulators. Those who are keen on attending a concise practical course that can comprehensively cover and/or provide a refresher of the principles of IFRS, SFRS(I) and FRS, as well as a discussion on the potential changes and updates on the current Generally Accepted Accounting Practice are welcome to attend.

Programme Facilitator(s)