Programme Objective

Introduction

This 1-day workshop aims to guide accountants in understanding the differences when comparing FRS for SMEs and IFRS.  An in-depth understanding in the reporting gaps of IFRS and IFRS for SMEs allows the accountant to transit quickly and expediently from one to the other.

Let this one-day programme provides you all the answers and solutions in exploring the opportunities and possibilities in transiting to IFRS or IFRS for SMEs. 

Currently, IFRS for SMEs is adopted as SFRS for small entities in Singapore.  Whereas IFRS is adopted as FRS and SFRS(I) in Singapore by all PIEs Public Interests Entities. Singaporean private entities have the option to use either FRS or SFRS for small entities.

Learning objectives:

Upon completing this webinar, participants will be able to –
 

• Identify and Evaluate the reporting GAPs between IFRS and IFRS for SMEs
• Understand and Apply the required adjustments and disclosures in transitioning into another financial reporting framework efficiently
• Review and Examine the differences in assessing the financial impact before transition to IFRS or IFRS for SMEs
• Prepare and Lead your transition, expediently and confidently.

Programme Outline

• Definition & Purpose of Reporting GAPs
• Brief introduction of IFRS and IFRS for SMEs
• Identifying and evaluating major reporting GAPs between IFRS and IFRS for SMEs
• Next steps after identification and evaluation of Reporting GAPs
• Reporting GAPs in IFRS for SMEs
  • Requirement to Amortisation of Intangible Assets and Goodwill on acquisition
    • Capitalisation of Borrowing cost disallowed
    • Hedge Accounting
• Reporting GAPs in IFRS
  • IFRS 16 Leases
• IFRS 9 Financial Instruments
• IAS 1 Presentation of financial statements on Current vs Non-current Liabilities
• Materiality Conceptual Framework application
• Exemption allowed for First – time adoption
• Reconciliation of Reporting GAP from IFRS to IFRS for SMEs for opening balance in First IFRS for SMEs financial statements
• Case studies

Training Methodology

Interactive facilitated presentation, live quizzes and case studies simulations

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

1) Accountants

2) Internal Auditors

3) Financial Analyst

4) External Auditors & Public Practitioners

5) Academicians

Programme Facilitator(s)