Interested in attending? Have a suggestion about running this course near you?
Register your interest now
With the pervasive use of current cost measurement (e.g. fair value and value in use) in financial reporting, fair value accounting is often under-estimated. Impairment testing for goodwill is required to be carried out annually, and this entails estimating the value in use, and sometimes fair value less cost of disposal of cash-generating units (CGUs). Furthermore, the impact of COVID-19 has made impairment provision more relevant. FRS 109 Financial Instruments now requires unquoted equity investments to be fair valued – the option to measure it at cost is no longer permitted.
Problem cases will be used to provide participants with the opportunity to carry out impairment testing and apply various valuation approaches and methods to different types of assets including businesses, financial instruments and intangible assets. In addition to covering fair value measurement under FRS 113, the trainer will also share real life experiences and challenges in applying fair value accounting in financial reporting.
Participants are encouraged to bring along their financial calculators or laptop with Excel installed.
This workshop qualifies for 7.0 CPE hours in Financial Reporting Standards and Pronouncements (Category 1).
Participants will learn how to fair value unquoted equity shares, unquoted debt investments, CGUs and intangible assets as well as perform impairment testing of financial assets
Accountants, Auditors, Finance Professionals and anyone interested in the practical application of fair value in financial reporting
Ong Woon Pheng
CA (Singapore), FCCA, CFA, ICVS, CFE , ATP (Income Tax)
Woon Pheng has been in the accounting and finance profession since 2001 and he is currently Director of Corporate Finance department at PKF-CAP Advisory Partners Pte Ltd, a member firm of PKF International. He was previously with Kudos CAS and RSM Nelson Wheeler, which are members of global accounting networks.
He is a Chartered Accountant of Singapore (CA Singapore), Fellow Member of Association of Chartered Certified Accountants (FCCA), Chartered Financial Analyst (CFA), Chartered Valuer & Appraiser (CVA), International Certified Valuation Specialist (ICVS), Certified Fraud Examiner (CFE) and Singapore Chartered Tax Practitioner (SCTP).
Currently, he specialises in business valuation, valuation for IFRS (including purchase price allocation, impairment review and valuation of complex financial instruments), financial & tax due diligence and mergers & acquisitions.
This is a face-to-face event, to be conducted on 20 January 2021.