Course Detail(XBRLv : BizFinx Filing System (Live Webinar))

SDF Funding, SkillsFuture Credit, UTAP Funding

XBRLv : BizFinx Filing System (Live Webinar)

7.00 CPE Hours (Others)
Live Webinar

This training is conducted via Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. 

Programme Objective


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

(With effect from 5 May 2020, the training will be conducted using the new BizFinx preparation tool (version 3) based on the revised XBRL filing requirements.)   

Important:

ACRA has issued Practice Direction No. 2 of 2020 to guide companies on the revised requirements and data elements for the filing of financial statements in eXtensible Business Reporting Language (XBRL) format. The revisions are part of its continual efforts to streamline filing requirements. For most companies, the number of data elements that they need to file with ACRA will be reduced. The Practice Direction can be viewed here.

Timeline for implementation of revised XBRL filing requirements

To allow companies more transition time in view of the COVID-19 situation, ACRA is deferring the effective dates as follows:

  1.     Companies are required to apply the revised filing requirements and data elements from 1 January 2021; and
  2.     Companies can opt to voluntarily apply the revised filing requirements and data elements from 16 May 2020 to 31 December 2020.

Companies that file before 1 January 2021 can continue to prepare and file the XBRL financial statements based on the current XBRL filing requirements.

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.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

13 Sep 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 337.05   $ 269.64
For Non-Members: $ 404.46   $ 323.57
Discount till 31 Dec 2022

Programme Facilitator(s)

Team of Professionals (XBRL)

Venue

Online Classroom in or outside of
Singapore

Date & Time

21 Nov 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 337.05   $ 269.64
For Non-Members: $ 404.46   $ 323.57
Discount till 31 Dec 2022

Programme Facilitator(s)

Team of Professionals (XBRL)

Venue

Online Classroom in or outside of
Singapore

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 31 Aug 2023
Course Reference Number: TGS-2020505519

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 31 Aug 2023
Funded Hours: 7 hours
Course Reference Number: TGS-2020505519

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     

 

For course run start date before 1 Nov 2020, submit training grant application in SCN until 30 Nov 2020.

For course run start date on or after 1 Nov 2020, Enterprises/employers are NOT required to log into TPGateway/SCN to submit training grant.

Remarks

Step 2: After receiving email that the programme status is confirmed, please proceed to submit the Training Grant application via SkillsConnect Portal (https://www.skillsconnect.gov.sg/).

Employers of company-sponsored participants must submit training grant via SkillsConnect to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date.

The employee’s enrolment, attendance and assessment recordswill be submitted by ISCA onto TPGateway.


Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

3] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

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 2022. *This excludes miscellaneous fees such as GST and registration fee etc.
 

To find out more on the UTAP support validity period please click here.
 
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.

To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
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)


Daniel Chee 
FCPA Singapore


Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia. He is an adjunct associate professor in NUS Business School.

Mr Chee was a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).

Wong Suet Yin
CPA Singapore


Suet Yin graduated from the National University of Singapore with an accounting degree and is a member of the Institute of Singapore Chartered Accountants (ISCA). 

She has more than 20 years of working experience in the area of accounting, tax, project management and training. She held several management positions with large MNCs. Suet Yin is very passionate in training and is always ready to share her knowledge with others. She adopts a pragmatic real world approach during training and believes in 'fun - have a good time'.

This training is conducted via Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. 

Programme Objective


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

(With effect from 5 May 2020, the training will be conducted using the new BizFinx preparation tool (version 3) based on the revised XBRL filing requirements.)   

Important:

ACRA has issued Practice Direction No. 2 of 2020 to guide companies on the revised requirements and data elements for the filing of financial statements in eXtensible Business Reporting Language (XBRL) format. The revisions are part of its continual efforts to streamline filing requirements. For most companies, the number of data elements that they need to file with ACRA will be reduced. The Practice Direction can be viewed here.

Timeline for implementation of revised XBRL filing requirements

To allow companies more transition time in view of the COVID-19 situation, ACRA is deferring the effective dates as follows:

  1.     Companies are required to apply the revised filing requirements and data elements from 1 January 2021; and
  2.     Companies can opt to voluntarily apply the revised filing requirements and data elements from 16 May 2020 to 31 December 2020.

Companies that file before 1 January 2021 can continue to prepare and file the XBRL financial statements based on the current XBRL filing requirements.

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.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Daniel Chee 
FCPA Singapore


Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia. He is an adjunct associate professor in NUS Business School.

Mr Chee was a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).

Wong Suet Yin
CPA Singapore


Suet Yin graduated from the National University of Singapore with an accounting degree and is a member of the Institute of Singapore Chartered Accountants (ISCA). 

She has more than 20 years of working experience in the area of accounting, tax, project management and training. She held several management positions with large MNCs. Suet Yin is very passionate in training and is always ready to share her knowledge with others. She adopts a pragmatic real world approach during training and believes in 'fun - have a good time'.

Upcoming Schedule

Date & Time

13 Sep 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 337.05   $ 269.64
For Non-Members: $ 404.46   $ 323.57
Discount till 31 Dec 2022

Programme Facilitator(s)

Team of Professionals (XBRL)

Venue

Online Classroom in or outside of
Singapore