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FRS Overview:
A Comprehensive Review
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CCH Executive Events
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Date : 16 & 17 June 2014
Time : 9.00am – 5.00pm
Venue: Hotel to be confirmed, Singapore
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DELEGATE’S DETAILS
In-house corporate training programme is also available!
For more details, please email events@cch.com.sg
When You Have To Be Right
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Delegate 1 (Mr/Ms)
REGISTRATION INFORMATION
FRS Overview:
Job Title
Sales Hotline 6211 3935 / 6211 3939
Fax Hotline 6224 2555
Emailevents@cch.com.sg
Websitewww.cch.com.sg
Address 8 Chang Charn Road
#03-00 Link (THM) Building
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A Comprehensive
Review
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Substitution Policy
A substitute delegate is welcomed at any time and at no extra charge if you
are unable to attend. Notice of replacement must be made in writing via
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Cancellation
Full payment will be imposed if cancellation is made after 9 June 2014.
This also applies to no show on the day of event. In such cases, a complete
set of the course materials will be sent to you at no additional charge.
Programme Changes
CCH reserves the right to amend or cancel the events due to unforeseen
circumstances.
16 & 17 June 2014
9.00am – 5.00pm
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1-19 300-499
20-49 50-99
more than 500
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SPONSORSHIP OPPORTUNITIES
CCH Asia has designed an attractive range of advertising & sponsorship packages to match your marketing objectives. The packages available offer advertisers and
sponsors extensive visibility and ensure direct access to your target market. They are also an excellent platform to promote your organisation to influential players and
key decision-makers in the industry. Please call 6211 3935 / 6211 3939 for more details.
THE ORGANISER
CCH Executive Events is the seminar and conference arm of CCH Asia. We offer opportunities for our delegates to receive business critical information and timely insights
and analysis from our expert presenters. Our events also provide a platform for discussion to allow delegates to explore the intricacies of the information presented while
interacting and exchanging news and experiences with their peers. Our programmes are conducted by industry practitioners and academics who are able to provide participants
a well-balanced blend of theoretical fundamentals and practical applications.
Qualifies fo
r
Productivit
y
and Innova
tion
Credit (PIC
) 60%
Cash Gran
t*
FRS Overview: A Comprehensive Review
16 & 17 June 2014
9.00am – 5.00pm
CCH Executive Events presents a comprehensive twoday technical workshop that provides a concise review of
the most significant Financial Reporting Standard (FRS)
requirements effective 2013/2014 in Singapore.
Designed for those who do not have the time to go
through the standards in detail but require an overview,
this workshop includes illustrative financial statements,
case studies and examples. You will walk away with a good
understanding of the current standards, their implications
and common practice problems. New IFRS that will be
endorsed in the foreseeable future will also be highlighted.
Target Audience
Finance Managers, Chief Financial Officers, Financial
Controllers
Accountants, Auditors
Professionals involved in the preparation and
interpretation of financial statements
Benefits of Attending
Practical Issues: Learn how to solve practical accounting
problems under FRS
Application: Understand how to apply recognition and
measurement principles under FRS
Implementation: Prepare financial statements that
comply with FRS requirements
Singapore
DAY 1
SINGLE FINANCIAL STATEMENTS
Introduction to FRS
Origins, membership and workings of the IASB
Status and nature of IASs, IFRSs and interpretations
Overview of worldwide use and content of IFRS
Singapore-endorsed FRS
Concepts and Presentations
FRS 1 – Presentation of statements and the
conceptual framework
–Elements of the financial statement
• IAS 7 – Cash flow statements
• IAS 14 – Segment reporting
• Statement of financial performance,
• Statement of changes in equity or SORIE
FRS 105 – Assets held for sale and discontinued
operations
FRS 8 – Accounting policies
Inventories
FRS 2 – Inventories
FRS 106 – Mineral resources
Practise problems (lower of cost and market, cost to sell)
Property, Plant and Equipment
FRS 16 – Tangible assets
FRS 40 – Investment property
FRS 23 – Interest capitalisation
Practise problems (component approach, accounting
for revaluation gains and temporary delays on the
construction of qualifying assets)
*Subject to conditions stipulated in the PIC scheme.
Please refer to IRAS website for more details.
Financial Instruments
FRS 32 – Financial instruments: presentation
FRS 39 – Financial instruments: measurement
FRS 107 – Financial instruments: disclosures
FRS 109 - Financial Instruments (new standard)
Practice problems (calculation of effective interest rate,
impairment in categories of HtM and loans and receivables)
DAY 2
SINGLE AND CONSOLIDATED FINANCIAL STATEMENTS
Liabilities
FRS 37 – Provisions
FRS 10 – Events after balance sheet
FRS 104 – Insurance contracts
FRS 19 – Pensions
Practice problems (contingent liabilities, best estimates on
provisions, actuarial gains and losses)
More on Liabilities
FRS 102 – Share-based payments
FRS 12 – Deferred tax
Practice problems (SBP in group plans, deferred tax on
initial recognition differences and investment properties)
Revenue
FRS 11 – Construction contracts
FRS 18 – Revenue
Practice problems (multi-element contracts)
Groups
FRS 103 – Business combinations
FRS 27 and FRS 110 – Consolidated statements
FRS 21 – Currency translation
Intangibles
IAS 38 – Intangible assets
Practice problems (active market, qualifying asset and
identifying useful live)
Joint Ventures and Associates
FRS 28 and FRS 111 – Associates
FRS 31 and FRS 112 – Joint ventures
More on Assets
FRS 17 – Leases
FRS 20 – Government grants
FRS 36 – Impairment of assets
FRS 41 – Agriculture
Practice problems (renewal periods of leases, lease of
land, definition of CGU, reallocation of impairment
between assets of a CGU)
Disclosures
FRS 7 – Cash flow statements
FRS 14 – Segment reporting
FRS 24 – Related parties
FRS 33 – Earnings per share
FRS 34 – Interim reporting
Practice problems (calculation of tax expense in interim
reporting periods)
Michél Herrmann
WP/StB/CPA (USA and Singapore)
Managing Director
Michel has over 11 years of experience in financial reporting
and accounting advisory.
Prior to founding HERRMANN CONSULTING, Michel has
worked for PwC (PricewaterhouseCoopers) in Germany and
Singapore where he was in charge of the accounting advisory
business. During his time with PwC he worked on various
assignments including tax planning, SFRS/IFRS conversions
projects, technical accounting advise, IPOs, SEC filings and
due diligences across a wide variety of clients. Michel is
also a regular speaker in financial conferences and seminars
and since fall 2010 a Professor for “Advanced Accounting
And Auditing” at the private University of Friedrichshafen
(Germany).
Michel received a master degree from the University of
Mannheim. He is certified as a German CPA, German Tax
Advisor, US CPA and CPA of Singapore. Michel is a member
of the German CPA and Tax Advisor Society as well as the
Institute of Singapore Chartered Accountants (ISCA).