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Description

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This programme is designed specifically for accountants and auditors who need to be aware of the recent changes and updates in the Singapore Financial Reporting Standards.

What you will learn

At the end of this workshop, you will:

  • Have a practical knowledge of the recent FRS changes to ensure accurate, reliable and robust financial reporting
  • Understand the impact and act on the latest critical FRS changes

Programme Outline

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2019

  • New SFRS(I) 16: Leases
  • New INT SFRS(I) 23: Uncertainty over Income Tax Treatments
  • Amendments to SFRS(I) 9: Prepayment Features with Negative Compensation
  • Amendments to SFRS(I) 1-28: Long-term Interests in Associates and Joint Ventures

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2020

  • Amendments to SFRS(I) 3: Definition of a Business
  • Amendments to SFRS(I) 1-1 and SFRS(I) 1-8: Definition of Material
  • FRS Practice Statement 2 – Making Materiality Judgements (Application date – 1 August 2018)
  • Amendments to SFRS(I) 9, SFRS(I) 1-39 and SFRS(I) 7: Interest Rate Benchmark Reform

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JUNE 2020

  • Amendment to SFRS(I) 16: Covid-19-Related Rent Concessions

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2021

  • Amendments to SFRS(I) 9, SFRS(I) 1-39, SFRS(I) 7, and SFRS(I) 16: Interest Rate Benchmark Reform—Phase 2

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2022

  • Amendments to SFRS(I) 3 Reference to the Conceptual Framework
  • Amendments to SFRS(I) 1-16 Property, Plant and Equipment - Proceeds before Intended Use
  • Amendments to SFRS(I) 1-37 Onerous Contracts—Cost of Fulfilling a Contract
  • Annual Improvements to SFRS(I)s 2018–2020

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2023

  • Amendments to SFRS(I) 1-1 Classification of Liabilities as Current or Non-Current
  • Amendments to SFRS(I) 1-1 Financial Reporting Bulletin 3 Classification of Liabilities as Current or Non-current

FINANCIAL REPORTING BULLETINS ISSUED BY ISCA

  • Financial Reporting Bulletin 5 COVID-19 Government Relief Measures: Accounting for Singapore property tax rebate from the perspective of the landlord and the tenant
  • Financial Reporting Bulletin 6 COVID-19 Government Relief Measures: Accounting for the grant provided by the Singapore Government for wages paid to local employees under the Jobs Support Scheme
  • Financial Reporting Bulletin 7 COVID-19 Government Relief Measures: Accounting for Rental Relief Framework for Small and Medium Enterprises (SMEs) and Non-Profit Organisations (NPOs) from the perspective of the landlord and the tenant

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

Expert Speaker

Sardool Singh

Sardool is an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He has been lecturing for the past 20 years, and is a highly sought-after seminar leader in the areas of Financial Reporting Standards, Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics. Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is also the Chief Financial Officer of an investment company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. He had also gained his working experience with KPMG Peat Marwick and a Japanese merchant bank.

This is a face-to-face event to be conducted on 26 Feb 2021.

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis, so you can have your whole team participate together in a boardroom setting for one cost effective price, using one registered log-in connection. The registered attendee will receive a CPD certificate.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! Recordings are provided for webinars with a duration of 3 hours and less.