Accounting Standards Updates 2024: A Practical Approach to Navigating the Changes and Updates to SFRS (I)

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.

This timely workshop is designed to help you gain practical insights on the recent updates and changes to Singapore Financial Reporting Standards (International) [ SFRS(I) ] .

Through the numerous practical examples and illustrations, you can swiftly apply the accounting principles in real life.

Programme Outline

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

• SFRS(I) Practice Statement 2 Making Materiality Judgements
• Amendments to SFRS(I) 1-12 International Tax Reform - Pillar Two Model Rules

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2024

• Amendments to SFRS(I) 1-1 Classification of Liabilities as Current or Non-Current
• Financial Reporting Bulletin 3 Classification of Liabilities as Current or Non-Current
• Amendments to SFRS(I) 1-1 Non-Current Liabilities with Covenants
• Amendments to SFRS(I) 16 Lease Liability in a Sale and Leaseback
• Amendments to SFRS(I) 1-7 Supplier Finance Arrangements

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2025

• Amendments to SFRS(I) 1-21 Lack of Exchangeability

UPCOMING STANDARDS

• New IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information
• New IFRS S2 Climate-related Disclosures
• New IFRS 18 to Replace SFRS(I) 1-1 General Presentation and Disclosures (Primary Financial Statements)

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

What you will learn

By the end of the workshop, you will:

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

Target Audience

• Accountants and Auditors who would like to keep abreast of the recent SFRS(I) Updates and 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.