Course Detail(A089 : Consolidated Financial Statements: Preparation and Presentation in the Singapore Context)

SDF Funding, SkillsFuture Credit, UTAP Funding

A089 : Consolidated Financial Statements: Preparation and Presentation in the Singapore Context

14.00 CPE Hours (Category 1)
Classroom

Programme Objective
To discuss and illustrate the issues related to the preparation and presentation of consolidated financial statements in the Singapore context. 
 
After this two-day course, participants should be able to prepare the consolidated statement of financial statement (balance sheet) and the consolidated statement of profit or loss and other comprehensive income (profit or loss account) in compliance with the latest Singapore legal and accounting requirements.
 

Programme Outline


Day 1

  • Introduction
    • control concept
    • who has to present consolidated financial statements
    • who is exempted
  • Basic consolidation issues
    • add across
    • fair value adjustment
    • goodwill on consolidation
    • non-controlling interests
    • pre-acquisition and post-acquisition reserves
    • inter-company transactions
  • Specific issues
    • piecemeal acquisition
    • acquisition of additional shares in subsidiary
    • disposal of shares in subsidiary without losing control
    • disposal of shares in subsidiary and lost control

Day 2

  • Complex group structure
    • father-son-grandson structure
    • connecting affiliations
    • different dates of acquisitions
  • Investment in associates 
    • equity accounting
    • changes in shareholding
  • Investment in joint arrangements
    • joint operations
    • joint ventures
  • Foreign subsidiaries, associates and joint ventures
    • translation issues
    • consolidation issues

Training Methodology

Lecture style, with Exercises/Case Studies, Quiz / Knowledge Check

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accountants who have to prepare consolidated financial statements and auditors who have to verify the appropriateness of the consolidated financial statements.

Competency Mapping

Category 1 = 14.00 Hours

Schedule & Fees

Date & Time

23 Mar 2020 (9:00 AM - 5:00 PM)
24 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Prof Ng Eng Juan

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

05 Dec 2019 (9:00 AM - 5:00 PM)
06 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Prof Ng Eng Juan

Date & Time

19 Aug 2019 (9:00 AM - 5:00 PM)
20 Aug 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Prof Ng Eng Juan

Date & Time

15 Apr 2019 (9:00 AM - 5:00 PM)
16 Apr 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Prof Ng Eng Juan

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 8 April 2020
Course Reference Number: CRS-N-0035482

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 8 April 2020
Funded Hours: 14 hours
Course Reference Number: CRS-N-0035482

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).

 

3] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.


To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
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)


Ng Eng Juan
Professor

 
Prof Ng is currently with Singapore University of Social Sciences (SUSS) (formerly known as SIM University). He is the Head of the Accountancy Programme in SUSS. Prof Ng was previously with Nanyang Technological University, teaching financial accounting courses in the B Acc and MBA programmes, and has been awarded several teaching awards including the "Nanyang Award for Excellence in Teaching". Besides his teaching duty in SUSS, Prof Ng also conducts regular CPE programmes on accounting standards and provides consultancy services to public accounting firms.

Prof Ng has published more than 60 journal articles and more than 40 professional accounting books including "Consolidated Financial Statements (Singapore)", "Singapore GAAP", and "A Practical Guide to Financial Reporting Standards (Singapore)"

Programme Objective
To discuss and illustrate the issues related to the preparation and presentation of consolidated financial statements in the Singapore context. 
 
After this two-day course, participants should be able to prepare the consolidated statement of financial statement (balance sheet) and the consolidated statement of profit or loss and other comprehensive income (profit or loss account) in compliance with the latest Singapore legal and accounting requirements.
 

Programme Outline


Day 1

  • Introduction
    • control concept
    • who has to present consolidated financial statements
    • who is exempted
  • Basic consolidation issues
    • add across
    • fair value adjustment
    • goodwill on consolidation
    • non-controlling interests
    • pre-acquisition and post-acquisition reserves
    • inter-company transactions
  • Specific issues
    • piecemeal acquisition
    • acquisition of additional shares in subsidiary
    • disposal of shares in subsidiary without losing control
    • disposal of shares in subsidiary and lost control

Day 2

  • Complex group structure
    • father-son-grandson structure
    • connecting affiliations
    • different dates of acquisitions
  • Investment in associates 
    • equity accounting
    • changes in shareholding
  • Investment in joint arrangements
    • joint operations
    • joint ventures
  • Foreign subsidiaries, associates and joint ventures
    • translation issues
    • consolidation issues

Training Methodology

Lecture style, with Exercises/Case Studies, Quiz / Knowledge Check

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Accountants who have to prepare consolidated financial statements and auditors who have to verify the appropriateness of the consolidated financial statements.

Competency Mapping

Category 1 = 14.00 Hours

Programme Facilitator(s)

Ng Eng Juan
Professor

 
Prof Ng is currently with Singapore University of Social Sciences (SUSS) (formerly known as SIM University). He is the Head of the Accountancy Programme in SUSS. Prof Ng was previously with Nanyang Technological University, teaching financial accounting courses in the B Acc and MBA programmes, and has been awarded several teaching awards including the "Nanyang Award for Excellence in Teaching". Besides his teaching duty in SUSS, Prof Ng also conducts regular CPE programmes on accounting standards and provides consultancy services to public accounting firms.

Prof Ng has published more than 60 journal articles and more than 40 professional accounting books including "Consolidated Financial Statements (Singapore)", "Singapore GAAP", and "A Practical Guide to Financial Reporting Standards (Singapore)"


Upcoming Schedule

Date & Time

23 Mar 2020 (9:00 AM - 5:00 PM)
24 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Prof Ng Eng Juan

Venue

60 Cecil Street
ISCA House
Singapore 049709