ACCA - Wolters Kluwer Joint Event: Accounting for Investment in Associates Using the Equity Method: A Practical Guide

Description

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This workshop is designed to equipped Accountants and Auditors with the knowledge of accounting for associates using the equity method based on FRS 28 Investments in Associates and Joint Ventures. Cases and double entries will be used to illustrate the key concepts and allow practical application in your workplace.

Programme Outline

  • What are Associates – identification of when an entity has significant influence over another entity
  • Basic principles of equity accounting
  • Initial recognition of investment in associates
    • Goodwill and fair value adjustments
  • Inter-company transactions with associates
    • Sales
    • Transfer of assets
      • Upstream transactions
      • Downstream transactions
  • Impairment loss
    • Impairment loss not exceeding carrying value of investment in associates
    • Impairment loss exceeding carrying value of investment in associates
    • Investment in associates with other long-term interest
  • Changes in equity interests
    • Associate becomes a subsidiary
    • Associate becomes a mere financial investment
    • Investment in associate is fully disposed
    • Decrease in investment in associate that remains as associate
    • Increase in investment in associate that remains as associate
  • Indirect shareholding
  • Foreign associates – translating the associate’s financial statements presented in foreign currency

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

Target Audience

Accountants and Auditors involved in accounting and/or auditing of investment in associates using the equity method

Expert Speaker

Chee Hay Kheong Daniel

Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with MNCs, managing their operations in Singapore and Asia.

Daniel is a highly sought-after seminar trainer. He was an Adjunct Professor in the School of Business, Singapore University of Social Sciences and an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).

This is a Face-to-Face event to be conducted on 20 August 2021. ACCA members will enjoy the members' fee of $400.18 (including GST). Kindly key in the promo code "ACCA21" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.

  • Aug 20
    Fri, 9:00 AM - Fri, 5:00 PM Hotel Venue to be Advised
    • $470.80 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.