Course Detail()

This course is available in both Live Webinar (virtual) and Classroom (physical).

For this session, it will be delivered as LIVE WEBINAR. If you prefer to join the Classroom session, please register here.

This course is pre-approved for Charities Capability Fund (CCF) funding. Please refer to the Funding tab for more details on Eligibility Criteria and Application Procedures.

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

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, 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.

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

2] CCF Training Grant

Charities Capability Fund (CCF) Training Grant provides co-funding for local training courses to help charities comply with regulatory requirements and build good governance standards.

Period of CCF pre-approval: 18 Sep 2023 to 17 Sep 2024

Eligibility Criteria

CCF funding is for eligible charities' staff (who have served in the Charities for at least 6 months with an official designation).

CCF Grants Coverage & Quantum

Funding Quantum

Nett Course Fees Payable (incl. GST)

Singaporeans/ PRs

Member: $245.38

Non-Member: $294.62

(80% of course fee)

Member: $61.34

Non-Member: $73.66

Employment Pass/ Work Permit Holders / S Pass Holders

Member: $184.03

Non-Member: $220.97

(60% of course fee)

Member: $122.69

Non-Member: $147.31

For Pre-approved Courses: Participants will pay the training provider the net course fees (after CCF funding). The training provider will claim the CCF approved funding directly from the CCF Secretariat.

Note:

CCF applications are subject to NCSS approval and only Board members/ staff in key governance and management areas with approved CCF applications are eligible for CCF funding.
The Applicant with approved CCF application (or “CCF-eligible participant”) pays the amount of course fees less CCF funding to ISCA. Payment can be made by corporate/individual means.
The Applicant has to create an ISCA Corporate Account here if they do not have an existing corporate account.

During the Course:

CCF-eligible participant to achieve minimum 75% attendance, and pass all assessments, if any.
All CCF-eligible participants are to complete a CCF Training Evaluation Form at the end of the course.
For course conducted online, CCF-eligible participants are to switch on their video function and display their full name.

Programme Facilitator(s)