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This workshop addresses the more complex aspects of lease accounting as required by SFRS(I) 16/FRS 116 Leases, including addressing lease components and non-lease components in leases, sublease and sale and lease transactions.
Lease agreements frequently bundle multiple components, for example, in real estate leases in which the landlord provides building maintenance.
The lease component is the unit of account for lease accounting. Lessors and lessees need to identify, and generally separate, lease and non-lease components to apply FRS 116. To do this, they need to allocate the consideration in the contract between the components that they account for separately.
Sale and lease back
Practical Examples and Illustrations will be used throughout the workshop to demonstrate the real-life application of these concepts.
This workshop qualifies for 7.0 CPE hours in Financial Reporting Standards and Pronouncements ( (Category 1) .
Accountants and Auditors who would like to have a practical understanding of the more complex aspects of Lease Accounting under SFRS(I) 16/FRS 116
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 15 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).