SDF Funding, SkillsFuture Credit, UTAP Funding
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 ObjectivePlease 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 requirementsTo allow companies more transition time in view of the COVID-19 situation, ACRA is deferring the effective dates as follows: Companies are required to apply the revised filing requirements and data elements from 1 January 2021; and 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.
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:
Companies that file before 1 January 2021 can continue to prepare and file the XBRL financial statements based on the current XBRL filing requirements.
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 entryEditing 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-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 Closing Date for Registration1 week before programme or until full enrolment
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:
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.
Pre-requisitesPlease take note of the following admission requirements:
Closing Date for Registration1 week before programme or until full enrolment
All accounting and finance professionals of Singapore incorporated companies.
Others = 7.00 Hours
13 Sep 2022 (9:00 AM - 5:00 PM)
For Members: $ 337.05 $ 269.64 For Non-Members: $ 404.46 $ 323.57 Discount till 31 Dec 2022
21 Nov 2022 (9:00 AM - 5:00 PM)
1] SkillsFuture Credit (SFC)Funding Period: Until 31 Aug 2023Course 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 FundingThis course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply).
Funding Period: Until 31 Aug 2023Funded Hours: 7 hoursCourse Reference Number: TGS-2020505519
If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :
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:
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.
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
Online Classroom in or outside ofSingapore
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Do you wish to apply for SFC funding? (Singapore Citizenship Only)
11 Aug 2022 - 12 Aug 2022
12 Aug 2022 - 12 Aug 2022
15 Aug 2022 - 16 Aug 2022