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

IAS 21 (equivalent to SFRS (I) 1- 21, Section 30 of SFRS for small entities and FRS 21) is the financial reporting standard provided to guide accountants in identifying functional currency, reporting changes in foreign exchange in a transaction, balances and consolidation.

This workshop aims to guide accountants in complying this reporting standard expediently. Get your solutions from this comprehensive and practical workshop.

Learning Objectives

Upon completion of this course, participants are able to:

• Understand and Report the impact of change in foreign exchange rates on financial statements as per IAS 21
• Compute the impact of change in foreign exchange rates in transactions and balances appropriately
• Present and Disclose the impact of change in foreign exchange rates in financial statement appropriately
• Review the application of this financial reporting standard in case studies, in extending practical solutions to accountants

Programme Outline

• Introduction to IAS 21
• The Scope of IAS 21
• Differentiating and Identification of Functional and Presentation Currency
• Case study: Identifying the functional currency in a reporting entity
• Measurement and Accounting treatment of changes in foreign exchange rates on a transaction
• Measurement and Accounting treatment of changes in foreign exchange rates on a balance
• Case study: Computing and Reporting a purchase of an asset in foreign currency, from ordering till settlement (including deferred payment, tax effects and financial year end reporting)
• Translating a financial statement in foreign exchange currency into another presentation currency
• Case study: Translating financial statement of a foreign subsidiary into another presentation currency, for the purpose of consolidation at Group level
• Questions and Answers

 

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

Training Methodology
Interactive presentations, together with class exercises, case studies simulations and discussions.


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

Intended For

• Accountants • Financial reporting officers • Internal audit • Compliance • Academicians

Programme Facilitator(s)