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Description

This is a hybrid session. You have the option to attend this live in-person or online via zoom. Please select accordingly at registration.

The in-person session will be conducted at:
Singapore Marriott Tang Plaza Hotel - Legacy Suite (Level 2)
320 Orchard Rd, Singapore 238865

This programme is designed specifically for accountants and auditors who need to be aware of the recent changes and updates in the Singapore Financial Reporting Standards.

Programme Outline

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2020

• Amendments to SFRS(I) 3: Definition of a Business
• Amendments to SFRS(I) 1-1 and SFRS(I) 1-8: Definition of Material
• FRS Practice Statement 2 – Making Materiality Judgements (Application date – 1 August 2018)
• Amendments to SFRS(I) 9, SFRS(I) 1-39 and SFRS(I) 7: Interest Rate Benchmark Reform

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2021

• Amendments to SFRS(I) 9, SFRS(I) 1-39, SFRS(I) 7, and SFRS(I) 16: Interest Rate Benchmark Reform—Phase 2

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2022

• Amendments to SFRS(I) 3 Reference to the Conceptual Framework
• Amendments to SFRS(I) 1-16 Property, Plant and Equipment - Proceeds before Intended Use
• Amendments to SFRS(I) 1-37 Onerous Contracts—Cost of Fulfilling a Contract
• Annual Improvements to SFRS(I)s 2018–2020

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2023

• Amendments to SFRS(I) 1-1 Classification of Liabilities as Current or Non-Current
• Amendments to SFRS(I) 1-1 Financial Reporting Bulletin 3 Classification of Liabilities as Current or Non-current
• Amendments to SFRS(I) 1-1 and FRS(I) Practice Statement 2 Disclosure of Accounting Policies
• Amendments to SFRS(I) 1-8 Definition of Accounting Estimates
• Amendments to SFRS(I) 1-12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction

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

What you will learn

At the end of this workshop, you will:

• Have a practical knowledge of the recent FRS changes to ensure accurate, reliable and robust financial reporting
• Understand the impact and act on the latest critical FRS changes

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.