This session is also conducted in-person at ISCA House. Please click here to register for the in-person session. 
 

Programme Objective

To discuss the provisions of the new/revised Financial Reporting Standards issued by the Accounting Standards Council and effective from the years 2022 - 2024.

Programme Outline

1. SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2022
   • Amendments to SFRS(I) 3 Reference to the Conceptual Framework
   • Amendments to SFRS(I) 1-16 Property, Plant and Equipment - Proceeds before Intended Use
   •  Amendments to SFRS(I) 1-37 Onerous Contracts—Cost of Fulfilling a Contract
   •  Annual Improvements to SFRS(I)s 2018–2020 
2. SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2023
   • Amendments to SFRS(I) 1-1 and SFRS(I) Practice Statement 2 Disclosure of Accounting Policies
   • Amendments to SFRS(I) 1-8 Definition of Accounting Estimates
   • Amendments to SFRS(I) 1-12 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction
3. SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2024
   • Amendments to SFRS(I) 1-1 Classification of Liabilities as Current or Non-Current 
   • Amendments to SFRS(I) 1-1 Non-Current Liabilities with Covenants
   • Financial Reporting Bulletin 3 Classification of Liabilities as Current or Non-Current
   • Amendments to SFRS(I) 16 Lease Liability in a Sale and Leaseback
4. IFRS INTERPRETATIONS COMMITTEE (“IFRIC”) UPDATES
   • SFRS(I) 1-7 Statement of Cash Flows - Demand Deposits with Restrictions on Use
   • SFRS(I) 1-2  Inventories - Costs Necessary to Sell Inventories 
   • SFRS(I) 1-10 Events after the Reporting Period -  Preparation of Financial Statements when an Entity is No Longer a Going Concern

 

Training Methodology
Lecture style with exercises / case studies

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate Level programme intended for Practising and Non-Practising Accountants and Auditors.

Programme Facilitator(s)