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

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

3.50 CPE Hours (Category 1)
Classroom

In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be conducting via Live Webinar.

Please do check the details before confirming your registration for the course/session.

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

14 Aug 2020 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

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

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

01 Nov 2019 (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, FCA (Singapore), ACA (England and Wales), FCCA (UK), CPA (Australia), AMA (Australia), FAIA, D.Litt. (Finance), MBA (Finance), BSc (Hons) Accounting, GRCA (USA), Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax.

 

Dr Chinnu is currently an Audit Partner and Head of Audit at Stamford Assurance PAC, an award-winning medium size audit practice. He worked with one of Big5 international audit firm for a decade and small and medium-size practices for few years before co-founding Stamford Assurance PAC. Prior to embarking audit career, Dr Chinnu held various finance and operations related to appointments with large construction and properly development group for a decade.

He has served for a wide range of clients including SGX-listed companies including few fund management companies, several US SEC registrants, subsidiaries of large multi-national corporations, significant subsidiaries of overseas listed companies, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds and 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’s CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA, ICAEW professional courses, James Cook University’s degree and master degree courses. Dr Chinnu also conducted in-house training and technical consulting assignments for more than 30 small-medium practices. He has passion for training and development and has conducted numerous presentations which include seminars organised by the James Cook University, ISCA, Kaplan, London School of Business and Finance, National Council of Social Service, and Republic Polytechnic, just to name a few.

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, Ministry of Culture, Community and Youth, National Youth Council, Youth Corp Singapore, London School of Business and Finance, SCAPE, Singapore National Paralympic Council, ACCA, Singapore Disability Sports Council, People’s Association, Association for Person with Special Needs, SHINE Childers and Youth Service, Singapore Disability Sports Council, The Society of Kalai Pithers, Toastmasters Club, SAA Global Education and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, SCAPE and also served member of finance, investment, tender, Marketing, Programe committees, Honorary Treasurer and Auditor of various charities.

Dr Chinnu received the President award for Lifelong Learner award in 2018, Appreciation Award from People’s Association for community services, Excellent Volunteers Service Awards from National Council of Social Service for contributing to charities and youth at risks institutions and Ministry of Social and Family Development for contribution to Family policies development and initiatives.

Dr Chinnu is also member of American Institute of Certified Public Accountants, American Accounting Association, Singapore Institute of Directors, Association of Certified Fraud Examiners, Institute for Adult Learning Singapore and International Association for Accounting Education and Research.

As a lifelong learner, Dr Chinnu completed Executive Tax Programme from Tax Academy of Singapore, pursuing Graduate Certificate in Digital Strategies and Data Analytics from Singapore Management University, Qualified Listed Company Directors Programe from Singapore Institute of Directors and ICAEW, Higher Education Teaching Certificate from Harvard University and CVA from the NTU.

In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be conducting via Live Webinar.

Please do check the details before confirming your registration for the course/session.

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, FCA (Singapore), ACA (England and Wales), FCCA (UK), CPA (Australia), AMA (Australia), FAIA, D.Litt. (Finance), MBA (Finance), BSc (Hons) Accounting, GRCA (USA), Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax.

 

Dr Chinnu is currently an Audit Partner and Head of Audit at Stamford Assurance PAC, an award-winning medium size audit practice. He worked with one of Big5 international audit firm for a decade and small and medium-size practices for few years before co-founding Stamford Assurance PAC. Prior to embarking audit career, Dr Chinnu held various finance and operations related to appointments with large construction and properly development group for a decade.

He has served for a wide range of clients including SGX-listed companies including few fund management companies, several US SEC registrants, subsidiaries of large multi-national corporations, significant subsidiaries of overseas listed companies, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds and 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’s CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA, ICAEW professional courses, James Cook University’s degree and master degree courses. Dr Chinnu also conducted in-house training and technical consulting assignments for more than 30 small-medium practices. He has passion for training and development and has conducted numerous presentations which include seminars organised by the James Cook University, ISCA, Kaplan, London School of Business and Finance, National Council of Social Service, and Republic Polytechnic, just to name a few.

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, Ministry of Culture, Community and Youth, National Youth Council, Youth Corp Singapore, London School of Business and Finance, SCAPE, Singapore National Paralympic Council, ACCA, Singapore Disability Sports Council, People’s Association, Association for Person with Special Needs, SHINE Childers and Youth Service, Singapore Disability Sports Council, The Society of Kalai Pithers, Toastmasters Club, SAA Global Education and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, SCAPE and also served member of finance, investment, tender, Marketing, Programe committees, Honorary Treasurer and Auditor of various charities.

Dr Chinnu received the President award for Lifelong Learner award in 2018, Appreciation Award from People’s Association for community services, Excellent Volunteers Service Awards from National Council of Social Service for contributing to charities and youth at risks institutions and Ministry of Social and Family Development for contribution to Family policies development and initiatives.

Dr Chinnu is also member of American Institute of Certified Public Accountants, American Accounting Association, Singapore Institute of Directors, Association of Certified Fraud Examiners, Institute for Adult Learning Singapore and International Association for Accounting Education and Research.

As a lifelong learner, Dr Chinnu completed Executive Tax Programme from Tax Academy of Singapore, pursuing Graduate Certificate in Digital Strategies and Data Analytics from Singapore Management University, Qualified Listed Company Directors Programe from Singapore Institute of Directors and ICAEW, Higher Education Teaching Certificate from Harvard University and CVA from the NTU.


Upcoming Schedule

Registration is closed

Date & Time

14 Aug 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02   $ 159.22
For Non-Members: $ 237.54   $ 190.03
Early Bird Discount till 31 Aug 2020

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

Online Classroom in or outside of
Singapore