Course Detail(A272v : Accounting for Foreign Exchange Transaction & Foreign Operations Made Easy (Live Webinar))
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UTAP Funding

A272v : Accounting for Foreign Exchange Transaction & Foreign Operations Made Easy (Live Webinar)

7.00 CPE Hours (Category 1)
Live Webinar

Programme Objective

An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies, or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. 

The objective of this seminar is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency.

The principal issues that will be addressed in this seminar are which exchange rates to use and how to report the effects of changes in exchange rates in the financial statements. 

These issues will be tackled in the form of practical case studies which participants and the lecturer will undertake together.
 

Programme Outline

  • Factors to be considered in determining a company’s functional currency
  • Accounting for foreign currency issues
    • accounting for transactions and balances in foreign currencies i.e. a currency other than the functional currency of the entity
    • in translating foreign operations for consolidation
    • in translating an entity’s results into a presentation currency i.e. the currency in which the financial statements are presented
  • Case study 1        
    • Translation of a foreign subsidiary’s financial statements to facilitate consolidation
  • Case study 2 
    • Accounting for changes of a functional currency
  • Case study 3        
    • Re-measurement of the financial statements of an entity that did not keep the financial statements in the correct functional currency.
  • Case study 4        
    • Accounting for monetary items that represent the net investment in a foreign subsidiary
  • Case study 5        
    • Accounting for the net investment in a foreign subsidiary where the monetary item is not in the functional currency of either the parent or the foreign operation
  • Case study 6
    • Presentation of exchange differences in the statement of cash flows

NOTE: Participants are required to bring along their calculators for the seminar.

Training Methodology

Lecture style, with illustrative examples, scenario analysis and hands-on exercises. 

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

Accountants who wish to have a more detailed understanding of accounting for foreign exchange transactions and for auditors who have to verify the appropriateness of the valuation and disclosure of assets in the financial statements.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees
Date & Time

23 Aug 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.85
For Non-Members: $ 382.84

Programme Facilitator(s)

Sardool Singh

Venue

Online Classroom in or outside of
Singapore

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

Programme Facilitator(s)


Sardool Singh
 
Sardool is an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He has been lecturing for the past 20 years, and is a highly sought-after seminar leader in the areas of Updates of recent Financial Reporting Standards, Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics. Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is the Chief Financial Officer of an Investment Company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. His other working experiences included three years with KPMG Peat Marwick and a year with a Japanese merchant bank.
 

Programme Objective

An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies, or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. 

The objective of this seminar is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency.

The principal issues that will be addressed in this seminar are which exchange rates to use and how to report the effects of changes in exchange rates in the financial statements. 

These issues will be tackled in the form of practical case studies which participants and the lecturer will undertake together.
 

Programme Outline

  • Factors to be considered in determining a company’s functional currency
  • Accounting for foreign currency issues
    • accounting for transactions and balances in foreign currencies i.e. a currency other than the functional currency of the entity
    • in translating foreign operations for consolidation
    • in translating an entity’s results into a presentation currency i.e. the currency in which the financial statements are presented
  • Case study 1        
    • Translation of a foreign subsidiary’s financial statements to facilitate consolidation
  • Case study 2 
    • Accounting for changes of a functional currency
  • Case study 3        
    • Re-measurement of the financial statements of an entity that did not keep the financial statements in the correct functional currency.
  • Case study 4        
    • Accounting for monetary items that represent the net investment in a foreign subsidiary
  • Case study 5        
    • Accounting for the net investment in a foreign subsidiary where the monetary item is not in the functional currency of either the parent or the foreign operation
  • Case study 6
    • Presentation of exchange differences in the statement of cash flows

NOTE: Participants are required to bring along their calculators for the seminar.

Training Methodology

Lecture style, with illustrative examples, scenario analysis and hands-on exercises. 

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

Accountants who wish to have a more detailed understanding of accounting for foreign exchange transactions and for auditors who have to verify the appropriateness of the valuation and disclosure of assets in the financial statements.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Sardool Singh
 
Sardool is an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He has been lecturing for the past 20 years, and is a highly sought-after seminar leader in the areas of Updates of recent Financial Reporting Standards, Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics. Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is the Chief Financial Officer of an Investment Company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. His other working experiences included three years with KPMG Peat Marwick and a year with a Japanese merchant bank.
 

Upcoming Schedule

Date & Time

23 Aug 2024 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)

For Members: $ 318.85
For Non-Members: $ 382.84

Programme Facilitator(s)

Sardool Singh

Venue

Online Classroom in or outside of
Singapore


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