Course Detail(A221 : Accounting for Government Grants under SB-FRS/FRS 20 and its related Interpretations and Guidance)

A221 : Accounting for Government Grants under SB-FRS/FRS 20 and its related Interpretations and Guidance

3.50 CPE Hours (Category 1)
Classroom


Programme Objective
 
To provide accounting, finance and audit professional with guidance on the Accounting for Government Grants. This course will also cover the key financial statement reporting and disclosure requirement for government grants.

Programme Outline

 1. To walkthrough key provisions and discuss practical issues in application with illustration on the following grant standards/guidance:

  • SB-FRS/FRS 20 – Accounting for government grants and Disclosure of government assistance
  • INT SB-FRS 10/INT FRS 10 - Government assistance – No specific relation to operating activities
  • SB-FRS Guidance notes related to government grants
 2. Training will focus on the following key concepts with illustrations:
  • Definition
  • Government grants (e.g. operating, capital and other types)
  • Non-monetary government grants
  • Presentation of grants related to assets
  • Presentation of grants related to income
  • Prepayment of government grants
  • Government assistance
 3. To illustrate using case study on common pitfalls to take note on recognition, measurement and accounting of government grants in relation to:
  • Operating grants
  • Development grants
  • Capital grants
  • Government assistance
  • Subsidized loans
  • Subventions
  • General, designated and restricted grants
  • Donations 
  • Sponsorship
4. To discuss/illustrate with examples/case studies on accounting of the major grants available from government/statutory boards such as
  • SPRING
  • EDB
  • IE
5. Using examples to illustrate key financial statement reporting and disclosure requirement for government grants
 
Training Methodology
 
Lecture style with exercises, practical case studies and problems-based-learning
 
Closing Date for Registration

1 week before programme or until full enrolment
 

Intended For

This programme is intended for Practising and Non-Practising Accountants, finance and audit professional who want to have an understanding of the accounting for government grants.

Competency Mapping

Category 1 = 3.50 Hours

Schedule & Fees

Date & Time

22 May 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

01 Nov 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

20 Jun 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

09 Nov 2018 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


User-added image

Dr Chinnu Palanivelu

D.Litt. (Finance and Taxation), CA Singapore, FCCA, CPA (Australia), MBA (Finance), FAIA, CMA, B. Acc. (Hons), GRCP, GRCA, Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax
 
Dr. Chinnu is currently an Audit Partner with Stamford Assurance PAC. He worked with an international audit firm for a decade and Small and Medium-size practices for few years.
 
He has more than 20 years of experience in public practice, industry, government, non-profit sector, academia, technical and training. He has served for a wide range of clients including SGX-listed companies, several US SEC registrants, subsidiaries of large multi-national corporations, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds, small and medium enterprises and owner-managed business. He also carried out pre-IPO audit, fraud investigation work and internal audit, etc. 
 
He is a regular trainer in ISCA CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA programme, ICAEW professional course and James Cook University’s degree and master degree courses. Chinnu also conduct in-house training and technical consulting assignments for several Small-Medium Practices. He has passion for training and development and he has conducted numerous presentations which include seminars organised by the ISCA, ACCA, James Cook University, Kaplan, London School of Business and Finance, CPA Australia, ITE, National Council of Social Service, and Republic Polytechnic, just to name a few.
 
He is practicing member of ISCA, ACCA and Member of CPA Australia, Association of International Accountants, SID, Institute of Internal Auditors, ICMA (Australia), Association of Certified Fraud Examiners, SIATP, Institute for Adult Learning Singapore and International Association for Accounting Education and Research
 
He is currently serving and has served in many public and civic institutions in various capacities, including: Ministry of Education, Ministry of Social and Family Development, Singapore Youth Corps (MCCY), London School of Business and Finance, ACCA, People’s Association, Association for Person with Special Needs, Student Care Services, ITE and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, Student and Public Practice committees of ACCA Singapore and also served finance, investment and tender committees, Honorary Treasurer and Auditor of various charities and societies.
 
Chinnu was conferred honorary Doctorate Degree (D. Litt.) in Finance and Taxation for his outstanding contribution to accounting and charity sectors in Singapore and India. Chinnu also received the President award for Lifelong Learner award, Appreciation Award from People’s Association for community services, Appreciation Award from ACCA for contribution to student development and an Excellent Volunteers Service Awards from National Council of Social Service and Ministry of Social and Family Development for contribution to family policies development and initiatives.

Chinnu is currently perusing Doctorate Degree in Financial reporting and Audit Quality from the University of Northampton (UK) and Chartered Secretary programme.

 


Programme Objective
 
To provide accounting, finance and audit professional with guidance on the Accounting for Government Grants. This course will also cover the key financial statement reporting and disclosure requirement for government grants.

Programme Outline

 1. To walkthrough key provisions and discuss practical issues in application with illustration on the following grant standards/guidance:

  • SB-FRS/FRS 20 – Accounting for government grants and Disclosure of government assistance
  • INT SB-FRS 10/INT FRS 10 - Government assistance – No specific relation to operating activities
  • SB-FRS Guidance notes related to government grants
 2. Training will focus on the following key concepts with illustrations:
  • Definition
  • Government grants (e.g. operating, capital and other types)
  • Non-monetary government grants
  • Presentation of grants related to assets
  • Presentation of grants related to income
  • Prepayment of government grants
  • Government assistance
 3. To illustrate using case study on common pitfalls to take note on recognition, measurement and accounting of government grants in relation to:
  • Operating grants
  • Development grants
  • Capital grants
  • Government assistance
  • Subsidized loans
  • Subventions
  • General, designated and restricted grants
  • Donations 
  • Sponsorship
4. To discuss/illustrate with examples/case studies on accounting of the major grants available from government/statutory boards such as
  • SPRING
  • EDB
  • IE
5. Using examples to illustrate key financial statement reporting and disclosure requirement for government grants
 
Training Methodology
 
Lecture style with exercises, practical case studies and problems-based-learning
 
Closing Date for Registration

1 week before programme or until full enrolment
 

Intended For

This programme is intended for Practising and Non-Practising Accountants, finance and audit professional who want to have an understanding of the accounting for government grants.

Competency Mapping

Category 1 = 3.50 Hours

Programme Facilitator(s)

User-added image

Dr Chinnu Palanivelu

D.Litt. (Finance and Taxation), CA Singapore, FCCA, CPA (Australia), MBA (Finance), FAIA, CMA, B. Acc. (Hons), GRCP, GRCA, Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax
 
Dr. Chinnu is currently an Audit Partner with Stamford Assurance PAC. He worked with an international audit firm for a decade and Small and Medium-size practices for few years.
 
He has more than 20 years of experience in public practice, industry, government, non-profit sector, academia, technical and training. He has served for a wide range of clients including SGX-listed companies, several US SEC registrants, subsidiaries of large multi-national corporations, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds, small and medium enterprises and owner-managed business. He also carried out pre-IPO audit, fraud investigation work and internal audit, etc. 
 
He is a regular trainer in ISCA CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA programme, ICAEW professional course and James Cook University’s degree and master degree courses. Chinnu also conduct in-house training and technical consulting assignments for several Small-Medium Practices. He has passion for training and development and he has conducted numerous presentations which include seminars organised by the ISCA, ACCA, James Cook University, Kaplan, London School of Business and Finance, CPA Australia, ITE, National Council of Social Service, and Republic Polytechnic, just to name a few.
 
He is practicing member of ISCA, ACCA and Member of CPA Australia, Association of International Accountants, SID, Institute of Internal Auditors, ICMA (Australia), Association of Certified Fraud Examiners, SIATP, Institute for Adult Learning Singapore and International Association for Accounting Education and Research
 
He is currently serving and has served in many public and civic institutions in various capacities, including: Ministry of Education, Ministry of Social and Family Development, Singapore Youth Corps (MCCY), London School of Business and Finance, ACCA, People’s Association, Association for Person with Special Needs, Student Care Services, ITE and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, Student and Public Practice committees of ACCA Singapore and also served finance, investment and tender committees, Honorary Treasurer and Auditor of various charities and societies.
 
Chinnu was conferred honorary Doctorate Degree (D. Litt.) in Finance and Taxation for his outstanding contribution to accounting and charity sectors in Singapore and India. Chinnu also received the President award for Lifelong Learner award, Appreciation Award from People’s Association for community services, Appreciation Award from ACCA for contribution to student development and an Excellent Volunteers Service Awards from National Council of Social Service and Ministry of Social and Family Development for contribution to family policies development and initiatives.

Chinnu is currently perusing Doctorate Degree in Financial reporting and Audit Quality from the University of Northampton (UK) and Chartered Secretary programme.

 

Upcoming Schedule

Date & Time

22 May 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

60 Cecil Street
ISCA House
Singapore 049709