Course Detail()

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

Programme Objective

ACRA has released version 3.4.1 of the BizFin^x Preparation Tool (Preptool) and Multi-Upload Tool (MUT).

Companies can prepare, validate and upload their financial statements in XBRL format using the latest versions from 1 October 2022 and must do so from 1 December 2022. Please click here for more information.

Please click here to download BizFinx Preparation Tool before the class.

Programme Outline

Introduction – BizFinx filing system and ACRA Taxonomy
How to install preparation tool
How to complete the Scoping Questions
Understanding of Filing Requirements – what is Minimum Requirement List?
How to import Financial Statement
Guidance in entry of Financial Statements into Templates via
Auto tagging
Manual entry
How to Validate and Generate XBRL files and Rectify Errors, if any
How to Save (in both Word and XBRL format) and Upload Financial Statements on BizFinx Portal

The trainer will use a company Financial Statement (case company) to demonstrate the entry in XBRL, from the initial creation to the saving of financial statements.
When entering financial statements, two modes of data entering will be covered:

Data entry
Editing the illustrative sample

It excludes the exporting of financial statements from ERP system or accounting software to XBRL.
This one-day training comprises theory and practical sessions. Participants will have an opportunity to have hands-on experience in using the XBRL to prepare financial statements.

Each participant is required to bring with him/her a set of financial information (softcopy) from a real company (i.e. a company registered with ACRA) for the purpose of hands on practice using XBRL to prepare the financial statements.
Each participant will be given access to a laptop/ desktop for accessing the XBRL. They will enter relevant data into the preparation tool, with guidance from the trainer. The data entered will not be uploaded to ACRA.

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

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

Intended For

All accounting and finance professionals of Singapore incorporated companies.

Schedule & Fees

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2025.

*Unfunded course fee refers to the balance course fee payable after applicable government subsidies. This excludes material fees, registration fees, misc. fees etc.

This course is approved for UTAP support for intakes conducted between 08 February 2024 – 31 March 2025.

As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
Course by training provider must be supported under UTAP and training must commence within the supported period and;
Unfunded course fee must not be fully sponsored by company or other types of funding
Unfunded course fee must be S$20.00 and above, and;
Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
UTAP application must be made within 6 months after course ends.

For more information on UTAP Funding and to submit for UTAP claims, please visit https://www.ntuc.org.sg/uportal/programmes/union-training-assistance-programme. Terms and conditions apply.

Programme Facilitator(s)