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 10 extends guidance on how events happened during a period between balance sheet date and date of authorised, to be considered in its impact to the financial statements as at balance sheet date.

With events triggered resulted from lockdown in preventing the spread of pandemic Covid-19, many accountants and auditors are anxious and concerned on how these adverse impacts could affect their financial reporting.

This one-day webinar aims to guide accountants and auditors on reporting and presenting events triggered by the lockdown, which may be affecting all financial statements pending for authorisations.

Join our virtual discussion and Get your solutions.

Learning objectives:

Upon completing this webinar, you will be able to –
 

• Understand and Apply the accounting treatment, presentation and disclosures as per IAS 10
• Present and Report the financial statements reliably and faithfully, reflecting the impact of events triggered by the lockdown
• Review all events with due care and ethically in ensuring relevance and fair presentation
• Address all issues and concerns in presenting financial statements when applying IAS 10

Pre-reading:

IAS 10/ SFRS(I) 1-10/ FRS 10 Events after reporting period
IAS 1/ SFRS(I) 1-1/ FRS 1 Presentation of financial statements

Programme Outline

1.    Pre-course assessment
2.    Introduction to IAS 10 Events after reporting period
3.    Illustration of “Events” that you should consider
4.    Differentiating Adjusting vs Non-adjusting events
5.    Case studies on Events after reporting period

a.    Retrenchment expenses resulted from business rationalization

b.    Consequential Losses resulted from operations temporary closed due to lockdown 

c.    How Force Majeure clause should be applied in crises like Covid-19

d.    Inventory impairment resulted from slow-down in sales

e.    Interest expenses recognition and presentation, with deferment offered by banks

f.    Accounting treatment of Government Stimulus Plan receipt in your Income Statement

g.    Insufficient cash-flow to pay declared dividends

h.    Deterioration of credit quality of Loans & Receivables

i.    Business downsizing resulting losses and one-time expenses

j.    Assets disposal

k.    Discontinued operations

l.    Decision to wind up business

6.    Questions & Answers
7.    Post course assessment

 

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, discussion on case studies, assessment questions, and class exercises. 

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

 

Intended For

• Accountants 
• Internal Auditors
• Financial Analyst
• External Auditors & Public Practitioners
• Academicians

Programme Facilitator(s)