Course Detail(A037 : Accounting differences between FRS and US GAAP)

SDF Funding, SkillsFuture Credit

A037 : Accounting differences between FRS and US GAAP

7.00 CPE Hours (Category 1)
Classroom

Programme Objective
This programme aims to provide an overview on the key differences between FRS and US GAAP. The programme aims to illustrate the impact of the different accounting rules on the financial statements of the companies. Additionally the programme provides an inside on the current roadmap of IFRS in the US (acceptance by SEC) and will highlight the latest exposure drafts and joint projects of the IASB and FASB.

Programme Outline

  • Overview of IFRS / US GAAP Differences
    • Conceptual Framework
    • Financial Statements
    • Segment disclosures
    • Interim reporting
    • Discontinued operations
  • Impact of accounting differences in practise
    • Equity items
    • Assets
      • Inventories
      • Property, plant and equipment
      • Borrowing costs
      • Intangible assets
      • Investment property
      • Impairment testing
    • Liabilities
      • Employee benefits, including pensions
      • Provisions and contingencies
      • Leases
      • Deferred taxes
    • Revenue Recognition
  • Impact on Business Combinations, Consolidations & Mergers
    • Business combinations, including a recap of changes resulting from the new standard
    • Consolidations and accounting for NCI
    • Common control transactions
  • Convergence Issues
    • Prospects and timetable for IFRS/US GAAP convergence
    • Short term convergence topics
    • IASB and FASB joint projects


Training Methodology
Lecture style, with Exercises / Case Studies

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

Intended For

An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements and also for those who wants to understand the key differences between FRS and US GAAP. Other users of financial information will also find the programme beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees

Date & Time

01 Apr 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Michel Herrmann

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

13 Nov 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Michel Herrmann

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

02 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Date & Time

02 Apr 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Date & Time

27 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Michel Herrmann

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 7 Jan 2021
Course Ref. No: CRS-N-0045934

 

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, please proceed to submit SFC claim on Skillsfuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal here: http://www.skillsfuture.sg/credit.

 

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 
 
Funding Period: Until 7 Jan 2021
Funded Hours: 7 hours
Course Ref. No: CRS-N-0045934

 

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

 

Employers of company-sponsored participants must submit training grant via SkillsConnect system to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

 

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

 

Programme Facilitator(s)


Michel Herrmann
WP, StB, CPA (US and Singapore)

 
Michel has accumulated over 10 years experience in accounting advisory and was with PricewaterhouseCoopers since 2001. He has gained extensive experience in advising multinational companies with complex accounting and tax structures, specializing on accounting issues and structuring in the areas of business combinations, revenue recognition, deferred tax and financial instruments.
While working in Germany, Michel was a member of the German technical accounting group and also a frequent guest speaker at the University of Giessen and the national convention of German CPAs. Michel has co-authored several publications on international accounting. He graduated with a MBA from the University of Mannheim, and is qualified as a US-CPA, SG-CPA, German tax advisor and German CPA.

Programme Objective
This programme aims to provide an overview on the key differences between FRS and US GAAP. The programme aims to illustrate the impact of the different accounting rules on the financial statements of the companies. Additionally the programme provides an inside on the current roadmap of IFRS in the US (acceptance by SEC) and will highlight the latest exposure drafts and joint projects of the IASB and FASB.

Programme Outline

  • Overview of IFRS / US GAAP Differences
    • Conceptual Framework
    • Financial Statements
    • Segment disclosures
    • Interim reporting
    • Discontinued operations
  • Impact of accounting differences in practise
    • Equity items
    • Assets
      • Inventories
      • Property, plant and equipment
      • Borrowing costs
      • Intangible assets
      • Investment property
      • Impairment testing
    • Liabilities
      • Employee benefits, including pensions
      • Provisions and contingencies
      • Leases
      • Deferred taxes
    • Revenue Recognition
  • Impact on Business Combinations, Consolidations & Mergers
    • Business combinations, including a recap of changes resulting from the new standard
    • Consolidations and accounting for NCI
    • Common control transactions
  • Convergence Issues
    • Prospects and timetable for IFRS/US GAAP convergence
    • Short term convergence topics
    • IASB and FASB joint projects


Training Methodology
Lecture style, with Exercises / Case Studies

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

Intended For

An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements and also for those who wants to understand the key differences between FRS and US GAAP. Other users of financial information will also find the programme beneficial.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Michel Herrmann
WP, StB, CPA (US and Singapore)

 
Michel has accumulated over 10 years experience in accounting advisory and was with PricewaterhouseCoopers since 2001. He has gained extensive experience in advising multinational companies with complex accounting and tax structures, specializing on accounting issues and structuring in the areas of business combinations, revenue recognition, deferred tax and financial instruments.
While working in Germany, Michel was a member of the German technical accounting group and also a frequent guest speaker at the University of Giessen and the national convention of German CPAs. Michel has co-authored several publications on international accounting. He graduated with a MBA from the University of Mannheim, and is qualified as a US-CPA, SG-CPA, German tax advisor and German CPA.

Upcoming Schedule

Date & Time

01 Apr 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Michel Herrmann

Venue

60 Cecil Street
ISCA House
Singapore 049709