UTAP Funding
The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.Programme Objective IFRS 15/FRS 115 has been effective from January 1, 2018 and continues to present challenges with regard to implementation of this standard. This seminar will focus on issues that are emerging in the post implementation period in relation to critical concepts including the timing of revenue recognition, determination of distinct performance obligations, and the allocation of consideration received. It will also address complex issues including payments to customers, the principle/agent distinction and accounting for licenses. The seminar will also cover examples of presentation and disclosure to illustrate how entities are addressing requirements related to disaggregation, segments and policies.
The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.
Programme Objective
IFRS 15/FRS 115 has been effective from January 1, 2018 and continues to present challenges with regard to implementation of this standard. This seminar will focus on issues that are emerging in the post implementation period in relation to critical concepts including the timing of revenue recognition, determination of distinct performance obligations, and the allocation of consideration received. It will also address complex issues including payments to customers, the principle/agent distinction and accounting for licenses. The seminar will also cover examples of presentation and disclosure to illustrate how entities are addressing requirements related to disaggregation, segments and policies.
Revenue Recognition Concepts Identifying the contractSeparating the performance obligationsWhat makes a performance obligation distinct?Determining the transaction priceHow is the consideration measured and allocated over performance obligations?What determines the pattern of recognition? Complex Issues in Practice Payments to customers – rebates, penalties, refunds, and warrantiesPrincipal versus Agent treatmentLicensesConstruction contracts Presentation and Disclosure ExamplesTerminology used in reportingDisaggregation of revenue items Segments of revenueAccounting policies Pre-requisitesPlease take note of the following admission requirements:Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsoryMandatory for video camera to be turned on throughout the courseDisplay your official name (as per NRIC) in Zoom, to facilitate attendance taking Training MethodologyLecture style with Examples Closing Date for Registration1 week before programme or until full enrolment
Revenue Recognition Concepts
Complex Issues in Practice
Presentation and Disclosure Examples
Pre-requisites
Please take note of the following admission requirements:
Training MethodologyLecture style with Examples Closing Date for Registration1 week before programme or until full enrolment
An Intermediate level programme intended for accounting and finance professionals. Those who are keen on attending a course on accounting for FRS115: Revenue from Contracts with Customers are welcome to attend.
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
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