Financial Reporting Standards: 2024 Annual Update

Description

This workshop will discuss the provisions of the major new/revised Financial Reporting Standards issued by ACRA and other pronouncements effective for the years 2023 to 2027 (except FRS 117 Insurance Contracts).

Programme Outline

• New/Revised standards effective in 2023
• Amendments to FRS 1 (Classification of liabilities)
• Amendments to FRS 1 (Disclosure of accounting policies)
• Amendments to FRS 8
• Amendments to FRS 12
• New/Revised standards effective in 2024
• Amendments to FRS 1
• Amendments to FRS 116
• New/Revised standards effective in 2025
• Amendments to FRS 21
• New/Revised standards effective in 2026
• Amendments to FRS 109 and FRS 107
• Annual Improvements to FRSs - Volume 11
• New/Revised standards effective in 2027
• FRS 118 (IFRS 18)
• Amendments to FRS 7
• Amendments to FRS 33
• FRS 119
• ISCA Financial Reporting Codification Framework 

This workshop qualifies for 7.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1).

What you will learn

• Get a concise summary of the requirements of the new / revised standards
• Learn to apply the new / revised standards in the preparation of financial standards

Target Audience

• Accounting and Finance Professionals
• Auditors

Expert Speaker

Ng Eng Juan

Eng Juan was a full-time Accounting Professor and Head of the Accountancy programme in Singapore University of Social Sciences before his retirement. Prior to that, he was with Nanyang Technological University for almost 30 years where he taught financial accounting courses in the B Acc and MBA programmes and had won many teaching awards, including the “Accounting Teacher of the Year” for several years and the most prestigious “Nanyang Award – Excellence in Teaching”.

Eng Juan had been actively involved in the accounting profession. He has been a member of the Accounting Standards Committee and China Committee of ISCA for many years. He had served as external examiner/advisor to several accounting professional/degree programmes in Singapore, UK and China, including being the founding examiner for the Financial Reporting paper in the SCAQ professional examinations. He also conducts regular executive development programmes for accountants and managers (and was conferred “CPE Trainer of the Year Award” by ISCA), and provides consultancy services to public accounting firms, law firms, and other organisations.

With a research interest in the area of accounting standards and practices, Eng Juan has published more than 100 academic/professional papers and 40 professional accounting books, some of which (especially “Consolidated Financial Statements”, “A Practical Guide to Financial Reporting Standards (Singapore), and “Derivatives and Hedge Accounting”) are used as standard reference materials for the accounting professionals and students in Singapore and Malaysia.