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. Hence, it is important for preparers and auditors of financial statements to have a strong grasp of how fair value is measured.
Practical cases will be used to provide participants with the opportunity to 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.
Relevance of fair value in FRS
Fair Value Measurement Framework
Fair Valuing Unquoted Equity and Debt Investments
Fair Valuing Intangible Assets
Participants are encouraged to bring along their financial calculators or laptops with Excel installed.
This workshop qualifies for 7.0 CPE hours in Financial Reporting Standards and Pronouncements (Category 1)
At the end of this workshop, you will:
Accountants, Auditors, Finance Professionals and anyone interested in the practical application of fair value in financial reporting.
Ong Woon Pheng
Woon Pheng 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 Accredited Tax Practitioner (ATP Income Tax).
Woon Pheng specialises in business valuation, valuation for FRS (including purchase price allocation, impairment review and valuation of intangible assets and financial instruments), financial and tax due diligence, divestment of business, mergers and acquisitions (M&A), fraud investigation, assessment of damages, expert witness and liquidation.
In addition to his various roles in the Singapore CA Qualification, Woon Pheng is also an adjunct faculty of Singapore University of Social Science ( SUSS ) where he teaches business valuation, financial reporting and corporate finance related subjects . In 2015, he was conferred the Teaching Merit Award by SUSS. He serves as a member in ISCA’s Investigation and Disciplinary Panel and the ACCA Singapore Professional Expert Forum. He is also a regular speaker on Business Valuation in various conferences.