Course Detail(A292v : Technical Update on IFRS [SFRS(I)] - 2023 (Live Webinar))

UTAP Funding

A292v : Technical Update on IFRS [SFRS(I)] - 2023 (Live Webinar)

7.00 CPE Hours (Category 1)
Live Webinar

Programme Objective

Introduction

Accounting Standards are constantly changing due to improvements, amendments and new issues, thus keeping up to date with IFRS is a daunting task for every accountant in practice. This annual technical update seminar attempts to make the task easier by providing a detail technical brief for busy professionals.

Learning objectives:

The objective of the course is to update preparers and users of financial statements on newly issued and amended IFRS. The course also provides a technical brief on outstanding exposure drafts, discussion papers and recent pronouncement issued by IASB.

Benefits of attending

  • Be up to date with latest development in financial reporting
  • Enhanced knowledge with recent changes to IFRSs
  • Build on existing knowledge and be ready for the changing world of IFRSs
  • Help to plan ahead for future changes
  • Understand the transitional provisions
  • Understand the effect of new changes to financial statements

Programme Outline

PrologueA brief on current environment of applying accounting standards
 A brief on the importance of referring to other documents such as Agenda Decisions issued by IFRIC, guidance and bulletins issued by accountancy bodies as well as literatures written on the issues relating to accounting standards
Section 1IFRSs Effective for Annual Reporting period Beginning on or After 1 January 2020
1Conceptual Framework for Financial Reporting
2Definition of Materiality (Amendment to IAS1 and IAS8)
3Definition of a Business (Amendment to IFRS3)
4Interest Rate benchmark Reform (IFRS9, IFRS7)
5Covid-19-Rrelated Rent Concession (IFRS16)
 
 
Section 2IFRSs Effective for Annual Reporting period Beginning on or After 1 January 2021
1Interest Rate Benchmark Reform – Phase 2 (IFRS9 and IFRS16)
2Covid-19-related Rent Concession beyond 30 June 2021 (IFRS 16)
  
Section 3IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2022
1Annual Improvements to IFRS 2018-2020
2 Property, Plant and Equipment Proceeds before intended use (IAS16)
3Onerous Contracts (Cost of fulfilling a contract) (IAS37)
4Reference to the Conceptual Framework (Amend IFRS3)
  
Section 4IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2023
1Classification of liability as current or non-current (IAS 1)
2Disclosure of Accounting Policies (IAS1 and PS2)
3Accounting Estimate (IAS8)
4Deferred Tax related to Assets and Liabilities arising from a Single Transaction (IAS12)
  
Section 5IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2024 and beyond (Any latest update will be included at the date of the seminar)
  
Section 6Selected Important Discussion Papers and Exposure Drafts
(List as at publication date – will be updated at date of seminar)
1ED/2021/1 Regulatory Assets and Regulatory Liabilities
2ED/2021/3 Disclosure Requirements in IFRS Standards – A Pilot Approach
(Amendments to IFRS 13 and IAS 19)
3ED/2021/4 Lack of Exchangeability
4ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards
5ED/2021/6 Management commentary
6ED/2021/7 Subsidiaries without Public Accountability: Disclosure
7ED/2021/9 Non-current Liabilities with covenants
8ED/2021/10 Supplier Financing Arrangements
9September 2022 Exposure Draft IFRS for SMEs Accounting Standards
  
EpilogueA brief on earlier years amendments or new accounting standards that may have significant impacts on the current application


Training Methodology

Lecture style, with practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This programme is suitable for all Finance Professionals, Audit Professionals, Members of Audit Committee, Finance Directors and Regulators and for those who are keen to keep up to date with latest changes to IFRSs and SFRSs.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

16 Nov 2023 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 315.36
For Non-Members: $ 379.08

Programme Facilitator(s)

Danny Tan

Venue

Live Webinar in or outside of
Singapore

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

To find out more on the UTAP funding and support validity period please click here.

Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)


Danny Tan
 

Danny is a consultant providing continuing professional development training for the accountancy profession as well as providing consultancy services on financial reporting technical matters. He has over 35 years’ experience in public practice, commerce, and industry. He was trained and qualified as a professional accountant with a firm in London. Danny conducts courses in IFRS and IPSAS in Europe, Middle East, and Asia Pacific. He is currently a member of the Small and Medium-size Entities Implementation Group (SMEIG) that consider the need to amend IFRS for SMEs Accounting Standard and make recommendation to the Board of IASB. He is also a project manager for the MASB. He currently holds several advisory roles in financial reporting technical matters.

 

Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a fellow member of The Chartered Instituted of Management Accountants, and The Association of Chartered Certified Accountants. He is also a member of The Institute of Singapore Chartered Accountants, Malaysian Institute of Accountants and an associate member of Chartered Tax Institute of Malaysia.

Programme Objective

Introduction

Accounting Standards are constantly changing due to improvements, amendments and new issues, thus keeping up to date with IFRS is a daunting task for every accountant in practice. This annual technical update seminar attempts to make the task easier by providing a detail technical brief for busy professionals.

Learning objectives:

The objective of the course is to update preparers and users of financial statements on newly issued and amended IFRS. The course also provides a technical brief on outstanding exposure drafts, discussion papers and recent pronouncement issued by IASB.

Benefits of attending

  • Be up to date with latest development in financial reporting
  • Enhanced knowledge with recent changes to IFRSs
  • Build on existing knowledge and be ready for the changing world of IFRSs
  • Help to plan ahead for future changes
  • Understand the transitional provisions
  • Understand the effect of new changes to financial statements

Programme Outline

PrologueA brief on current environment of applying accounting standards
 A brief on the importance of referring to other documents such as Agenda Decisions issued by IFRIC, guidance and bulletins issued by accountancy bodies as well as literatures written on the issues relating to accounting standards
Section 1IFRSs Effective for Annual Reporting period Beginning on or After 1 January 2020
1Conceptual Framework for Financial Reporting
2Definition of Materiality (Amendment to IAS1 and IAS8)
3Definition of a Business (Amendment to IFRS3)
4Interest Rate benchmark Reform (IFRS9, IFRS7)
5Covid-19-Rrelated Rent Concession (IFRS16)
 
 
Section 2IFRSs Effective for Annual Reporting period Beginning on or After 1 January 2021
1Interest Rate Benchmark Reform – Phase 2 (IFRS9 and IFRS16)
2Covid-19-related Rent Concession beyond 30 June 2021 (IFRS 16)
  
Section 3IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2022
1Annual Improvements to IFRS 2018-2020
2 Property, Plant and Equipment Proceeds before intended use (IAS16)
3Onerous Contracts (Cost of fulfilling a contract) (IAS37)
4Reference to the Conceptual Framework (Amend IFRS3)
  
Section 4IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2023
1Classification of liability as current or non-current (IAS 1)
2Disclosure of Accounting Policies (IAS1 and PS2)
3Accounting Estimate (IAS8)
4Deferred Tax related to Assets and Liabilities arising from a Single Transaction (IAS12)
  
Section 5IFRSs Effective for Annual Reporting Period Beginning on or After 1 January 2024 and beyond (Any latest update will be included at the date of the seminar)
  
Section 6Selected Important Discussion Papers and Exposure Drafts
(List as at publication date – will be updated at date of seminar)
1ED/2021/1 Regulatory Assets and Regulatory Liabilities
2ED/2021/3 Disclosure Requirements in IFRS Standards – A Pilot Approach
(Amendments to IFRS 13 and IAS 19)
3ED/2021/4 Lack of Exchangeability
4ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards
5ED/2021/6 Management commentary
6ED/2021/7 Subsidiaries without Public Accountability: Disclosure
7ED/2021/9 Non-current Liabilities with covenants
8ED/2021/10 Supplier Financing Arrangements
9September 2022 Exposure Draft IFRS for SMEs Accounting Standards
  
EpilogueA brief on earlier years amendments or new accounting standards that may have significant impacts on the current application


Training Methodology

Lecture style, with practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This programme is suitable for all Finance Professionals, Audit Professionals, Members of Audit Committee, Finance Directors and Regulators and for those who are keen to keep up to date with latest changes to IFRSs and SFRSs.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Danny Tan
 

Danny is a consultant providing continuing professional development training for the accountancy profession as well as providing consultancy services on financial reporting technical matters. He has over 35 years’ experience in public practice, commerce, and industry. He was trained and qualified as a professional accountant with a firm in London. Danny conducts courses in IFRS and IPSAS in Europe, Middle East, and Asia Pacific. He is currently a member of the Small and Medium-size Entities Implementation Group (SMEIG) that consider the need to amend IFRS for SMEs Accounting Standard and make recommendation to the Board of IASB. He is also a project manager for the MASB. He currently holds several advisory roles in financial reporting technical matters.

 

Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a fellow member of The Chartered Instituted of Management Accountants, and The Association of Chartered Certified Accountants. He is also a member of The Institute of Singapore Chartered Accountants, Malaysian Institute of Accountants and an associate member of Chartered Tax Institute of Malaysia.


Upcoming Schedule

Date & Time

16 Nov 2023 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 315.36
For Non-Members: $ 379.08

Programme Facilitator(s)

Danny Tan

Venue

Live Webinar in or outside of
Singapore