Course Detail(A224 : Fair Valuation of Financial Instruments: Fundamental Concerns & Issues)

A224 : Fair Valuation of Financial Instruments: Fundamental Concerns & Issues

3.50 CPE Hours (Category 1)
Classroom

 

Programme Objective

This programme provides an overview on fair value accounting and some of the difficulties relating to the fair value measurement process. Other topics covered include fair value accounting and its implications for auditors as well as an understanding of the controversy surrounding fair value accounting for liabilities. We will also discuss some of the major controversies surrounding fair value accounting using a case study approach from notable examples such as Wells Fargo, Deustche Bank and Goldman Sachs. In the local context, we will explore how fair value accounting impacts the financial results in Noble Group with regard to the valuation of its derivative contracts as well as the recent case involving Hyflux Ltd over the restructuring of its company debt.
 

Programme Outline

Programme Outline

(1) Apply the key concepts and principles of the fair value measurement process
(2) Understand why fair value accounting is such a controversial topic to the accounting profession
(3) Discuss the audit implications relating to fair value accounting
(4) Analyze real world examples surrounding some of the major fair value accounting controversies and how do firms deal with it
(5) Examine fundamental measurement difficulties regarding Level 2 and Level 3 assets and its implications to the audit profession
(6) Discuss pertinent issues about fair value accounting for liabilities and its effects on the financial statements
For this seminar, we will use provisions from the following Financial Reporting Standards (FRS):
FRS109 – Financial Instruments
FRS 113 – Fair value measurements



Training methodology
Lectures, facilitated by Powerpoint presentation, discussions, case studies, and sharing of practical situations

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

Intended For

Accountants, Auditors, Preparers of financial statements, Financial Controllers

Competency Mapping

Category 1 = 3.50 Hours

Schedule & Fees

Date & Time

19 Dec 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Kevin Ow Yong

Date & Time

21 Aug 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Kevin Ow Yong

Date & Time

21 Dec 2018 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Kevin Ow Yong

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Dr Kevin Ow Yong
PhD, BAcc (First Class Hons), CA (Singapore), CPA, CFA

Dr. Kevin Ow Yong is Associate Professor of Accounting at Singapore Institute of Technology (SIT). He has previously worked at Peking University and Singapore Management University. Prior to joining academia, he was a regional accountant and financial analyst with Singapore Airlines. He holds a First Class Honours Degree (with University Medal) in Accounting from Nanyang Technological University and received his PhD degree from Duke University.
Dr Ow Yong has been a Chartered Accountant (CA) and Certified Public Accountant (CPA) since 2003 as well as a Chartered Financial Analyst (CFA) since 2002. He is also a member of the UAFRS Advisory Council with Valens Research. He has previously served on the Candidate Programmes Committee with the CFA Society (Singapore) and on the advisory board with Brahm Centre, a non-profit charity organization as their Finance Advisor.

 

 

Programme Objective

This programme provides an overview on fair value accounting and some of the difficulties relating to the fair value measurement process. Other topics covered include fair value accounting and its implications for auditors as well as an understanding of the controversy surrounding fair value accounting for liabilities. We will also discuss some of the major controversies surrounding fair value accounting using a case study approach from notable examples such as Wells Fargo, Deustche Bank and Goldman Sachs. In the local context, we will explore how fair value accounting impacts the financial results in Noble Group with regard to the valuation of its derivative contracts as well as the recent case involving Hyflux Ltd over the restructuring of its company debt.
 

Programme Outline

Programme Outline

(1) Apply the key concepts and principles of the fair value measurement process
(2) Understand why fair value accounting is such a controversial topic to the accounting profession
(3) Discuss the audit implications relating to fair value accounting
(4) Analyze real world examples surrounding some of the major fair value accounting controversies and how do firms deal with it
(5) Examine fundamental measurement difficulties regarding Level 2 and Level 3 assets and its implications to the audit profession
(6) Discuss pertinent issues about fair value accounting for liabilities and its effects on the financial statements
For this seminar, we will use provisions from the following Financial Reporting Standards (FRS):
FRS109 – Financial Instruments
FRS 113 – Fair value measurements



Training methodology
Lectures, facilitated by Powerpoint presentation, discussions, case studies, and sharing of practical situations

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

Intended For

Accountants, Auditors, Preparers of financial statements, Financial Controllers

Competency Mapping

Category 1 = 3.50 Hours

Programme Facilitator(s)

Dr Kevin Ow Yong
PhD, BAcc (First Class Hons), CA (Singapore), CPA, CFA

Dr. Kevin Ow Yong is Associate Professor of Accounting at Singapore Institute of Technology (SIT). He has previously worked at Peking University and Singapore Management University. Prior to joining academia, he was a regional accountant and financial analyst with Singapore Airlines. He holds a First Class Honours Degree (with University Medal) in Accounting from Nanyang Technological University and received his PhD degree from Duke University.
Dr Ow Yong has been a Chartered Accountant (CA) and Certified Public Accountant (CPA) since 2003 as well as a Chartered Financial Analyst (CFA) since 2002. He is also a member of the UAFRS Advisory Council with Valens Research. He has previously served on the Candidate Programmes Committee with the CFA Society (Singapore) and on the advisory board with Brahm Centre, a non-profit charity organization as their Finance Advisor.

 


Upcoming Schedule

Registration is closed

Date & Time

19 Dec 2019 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Dr Kevin Ow Yong

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537