Course Detail(TAX230ET : Income Tax Treatment Arising from Adoption of FRS 115 Revenue from Contracts with Customers)

TAX230ET : Income Tax Treatment Arising from Adoption of FRS 115 Revenue from Contracts with Customers

3.50 CPE Hours (Others)
Classroom
In Collaboration with:  


Programme Objective
 
The new revenue standard FRS 115 came into effect on 1 January 2018, and is a significant change from the previous FRSs and INT FRSs related to revenue recognition. The scope of FRS 115 is wide-ranging and applies to all contracts that a business has with customers excluding certain exceptions.
 
In tandem with the introduction of this new revenue standard, the Inland Revenue Authority of Singapore (IRAS) recently published the FRS 115 e-Tax Guide in January 2018 to provide guidance on tax treatment and potential tax issues that may arise as a result of the adoption of FRS 115.
 
Attend this topical workshop to gain a better appreciation of how the changes to the revenue recognition under FRS 115 will affect the tax reporting for your entity. Through the use of practical illustrations and case studies, this workshop aims to provide you with practical understanding of the income tax treatment and transitional tax implications of adopting FRS 115, and how you can navigate through some of the potential challenges that may arise when implementing FRS 115 for your entity.
 

Programme Outline

 
  • Broad overview of revenue recognition under FRS 115 from an accounting perspective.
  • Understand general tax principles for revenue recognition from an income tax perspective.
  • Understand the FRS 115 income tax treatment as stipulated by the IRAS in the newly published e-Tax Guide, and practical tips to consider to ease the challenges of tax reporting.
  • Understand tax issues related to transitional adjustments in the initial Year of Assessment and the recommended income tax treatment in relation to such adjustments.
  • Gain practical understanding of the various tax issues discussed by working through case studies.

Training Methodology
 
Lecture style, with use of illustrations and case studies
 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accounting, Tax and Audit professionals who would like to know more about the income tax treatment arising from adoption of FRS 115.

Competency Mapping

Others = 3.50 Hours

Schedule & Fees

Date & Time

07 Aug 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Adelyn Teh

Date & Time

28 Sep 2018 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Adelyn Teh

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Adelyn Teh
Associate Director, Tax
BDO Tax Advisory Pte Ltd

 
Adelyn has more than 15 years of professional experience in taxation involving all facets of tax assignments encompassing income tax compliance matters for individuals, unincorporated businesses and corporations. She has had practical and relevant experience in dealing and managing the tax affairs for multinationals, public listed and private companies.
 
Adelyn also has tax experience in dealing with various corporate tax advisory assignments, including advising on cross border transactions, withholding tax, tax incentives and stamp duty implications, as well as handling tax controversies and pre-audit tax reviews. Her clients are in a diversified range of industries namely, telecommunications and media, technology, education, food and beverage, wholesale and retail, property development and construction, manufacturing, trading and services.
 


Programme Objective
 
The new revenue standard FRS 115 came into effect on 1 January 2018, and is a significant change from the previous FRSs and INT FRSs related to revenue recognition. The scope of FRS 115 is wide-ranging and applies to all contracts that a business has with customers excluding certain exceptions.
 
In tandem with the introduction of this new revenue standard, the Inland Revenue Authority of Singapore (IRAS) recently published the FRS 115 e-Tax Guide in January 2018 to provide guidance on tax treatment and potential tax issues that may arise as a result of the adoption of FRS 115.
 
Attend this topical workshop to gain a better appreciation of how the changes to the revenue recognition under FRS 115 will affect the tax reporting for your entity. Through the use of practical illustrations and case studies, this workshop aims to provide you with practical understanding of the income tax treatment and transitional tax implications of adopting FRS 115, and how you can navigate through some of the potential challenges that may arise when implementing FRS 115 for your entity.
 

Programme Outline

 
  • Broad overview of revenue recognition under FRS 115 from an accounting perspective.
  • Understand general tax principles for revenue recognition from an income tax perspective.
  • Understand the FRS 115 income tax treatment as stipulated by the IRAS in the newly published e-Tax Guide, and practical tips to consider to ease the challenges of tax reporting.
  • Understand tax issues related to transitional adjustments in the initial Year of Assessment and the recommended income tax treatment in relation to such adjustments.
  • Gain practical understanding of the various tax issues discussed by working through case studies.

Training Methodology
 
Lecture style, with use of illustrations and case studies
 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accounting, Tax and Audit professionals who would like to know more about the income tax treatment arising from adoption of FRS 115.

Competency Mapping

Others = 3.50 Hours

Programme Facilitator(s)

Adelyn Teh
Associate Director, Tax
BDO Tax Advisory Pte Ltd

 
Adelyn has more than 15 years of professional experience in taxation involving all facets of tax assignments encompassing income tax compliance matters for individuals, unincorporated businesses and corporations. She has had practical and relevant experience in dealing and managing the tax affairs for multinationals, public listed and private companies.
 
Adelyn also has tax experience in dealing with various corporate tax advisory assignments, including advising on cross border transactions, withholding tax, tax incentives and stamp duty implications, as well as handling tax controversies and pre-audit tax reviews. Her clients are in a diversified range of industries namely, telecommunications and media, technology, education, food and beverage, wholesale and retail, property development and construction, manufacturing, trading and services.
 

Upcoming Schedule

Registration is closed

Date & Time

07 Aug 2019 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

Adelyn Teh

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537