A Quick and Practical Application of Business Combinations and Consolidation under FRS 103

Description

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Accounting for Business Combinations can appear complex and intimidating. In this highly practical workshop, the Trainer will break down the complexities and explain them in a simple-to-understand manner.

The Trainer will walk through numerous questions and journal entries to allow participants to swiftly apply and grasp the essential concepts and consolidation requirements of FRS 103.

Programme Outline

Explain the concept of a business combination and a business

Understand the acquisition method

Determine the acquisition date in a business combination

Identify the acquirer and acquiree in a business combination

Recognise and measure full and partial goodwill or gain from a bargain purchase

Recognise and measure any non-controlling interest (NCI) in the acquiree

Determine the consideration transferred in a business combination

Recognise and measure the identifiable assets acquired and the liabilities assumed in a business combination

Case studies and journal entries to address the accounting for

  • costs incurred in a business combination
  • contingent consideration
  • operating leases
  • intangible assets
  • contingent liabilities
  • indemnification assets
  • income taxes

Recognise the impairment of goodwill

Accounting for business combinations achieved in step acquisition and step disposals

New disclosure requirements

Participants are encouraged to bring along their calculators for the workshop.

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

Target Audience

Accountants and Auditors who would like to have a detailed understanding of the consolidation requirements under FRS 103.

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 17 September 2021.

  • Sep 17
    Fri, 9:00 AM - Fri, 5:00 PM Hotel Venue to be Advised
    • $449.40 incl. GST (7%)
    • PD hours: 7

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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.