Programme Objective
The government has announced new targets for the Singapore Green Plan 2030 and one of them was to increase solar deployment to 1.5 giga-watt peak (GWp) by 2025 and at least 2 GWp by 2030. 

In response to the government’s calling and green initiatives, there has been an increasing number of companies switching to renewable energy to reduce their carbon footprint by signing a Power Purchase Agreement ("PPA"). This includes placing solar systems at the roof of their office buildings, malls or factories to generate and consume solar energy. Accountants, who are the backbone of the company, must be prepared for such transformations. 

This course is designed to equip participants with an appreciation of the following accounting impacts and ensure their companies are ready for the change from the perspectives of a customer and a vendor:
 

• Key concepts and core principals of FRS 115 and 116
• Implementation challenges and opportunities of FRS 115 and 116 from
  1. Signing a PPA
  2. Building your own rooftop solar system

Programme Outline

• FRS 115
  • Introduction to FRS 115
  • Core principle
  • Key accounting considerations when my company signs a PPA with a vendor
  • Key accounting considerations if I were the vendor who signs a PPA with a customer
  • Key accounting considerations when my company builds our own rooftop solar system
  • Case studies
     
• FRS 116
  • Introduction to FRS 116
  • Core principle & definition of lease
  • Key accounting considerations when my company signs a PPA with a vendor
  • Key accounting considerations if I were the vendor who signs a PPA with a customer
  • Case studies
     

Learning Outcomes

• Navigate through the complexities of FRS 115 and 116 from both the perspective of a customer and a vendor if my company were to sign a PPA with vendor or build our own rooftop solar system.

Training Methodology

Lecture style with interactive participation, polls and walk-through of practical case examples.

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

A Foundation to Intermediate Level program intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. Also for those who are interested to gain an understanding of how FRS 115 and 116 can affect a company’s financials by adopting green initiatives. 

Programme Facilitator(s)