[2-DAY] Accounting and Tax Implications of FRS 109 Financial Instruments
[Workshop POSTPONED] Schedule to be confirmed
||15 & 16 Aug 2018 (Wed & Thu)
||9.00am - 5.30pm
||Training Room , SBF Center,
160, Robinson Road, #06-01, Singapore 068914
|Fee per pax
(inclusive of GST)
||SBF Member - S$1,070.00
Non Member - S$1,391.00
-Upon completion of the workshop, the participant will be granted an attendance certificate.
The course explains and illustrates the financial accounting requirements of FRS 109 Financial Instruments as well as the tax implications of these requirements. The course deals with accounting and tax implications relating to definition, classification and measurement of financial instruments, expected credit loss and hedging activities..
PART 1: Definition, Classification and Measurement of Financial Instruments
- Reinforce the understanding of the definition of financial assets, financial liabilities and equity
- Analyze the main features of the following and implications on reporting
- Classification and Measurement of Financial Assets
- Analyze the decision flows in FRS 109
- Classification and Measurement of Financial Liabilities
- Special considerations for Financial Liabilities
Accounting and Tax implications
--Tax laws vs accounting standards
- s34AA of ITA
- Alignment reasons
- Transitions & reclassification
- FRS 39 vs FRS 109
- Classification of financial instruments in FRS 109 and its tax Implications
- Accounting treatment vs tax treatment
- Accounting classification – does it matter? Case history
- Financial assets – Tax treatment
- Financial liability – Tax treatment and Case history
- Interest deductibility
- Contractual vs Effective interest method
PART 2: Impairment Loss under FRS 109
- Comparison of FRS 39 the outgoing standard’s incurred loss model with the IFRS 9 expected loss model
- Expected credit loss for debt instruments
- Three stages of expected credit loss
- Illustrative examples
Accounting and Tax implications:
- Illustration: Measurement of expected credit loss
- Meaning of credit impaired
- Simplified approach for trade receivables, contract assets and lease receivables
- Deductibility of trade debts – Tax treatment
Part 3: Hedge accounting
- Qualifying criteria for hedge accounting – comparison between FRS 109 and FRS 39
- Accounting classification for hedge accounting under FRS 109
- Characteristics of derivatives
- Tax Implications
- Illustrative examples
*Minimum 18 participants to start
**Programme information is accurate at the time of print
This workshop is ideally designed for managers and senior management involving in accounting, finance and tax.
ABOUT THE TRAINER
Khoo Teng Aun
Associate Professor Khoo Teng Aun graduated in 1975 with a Bachelor of Accountancy (Honours) from the University of Singapore. Subsequently, Professor Khoo went into industry for about 10 years before joining the School of Accountancy which was then in the National University of Singapore. His working experience includes external audit, internal audit, company secretary, financial accountant as well as management services. He later completed his Masters of Economics (Honours) from Macquarie University in 1989. He taught accounting and taxation at the Nanyang Technological University from 1987 to 1999. His research interests include the area of internet financial reporting, multi-national companies, cost and management accounting systems as well as entrepreneurial studies.
Associate Professor Pearl Tan has extensive experience in teaching and developing courses on advanced topics in financial accounting. Prior to joining academia, Professor Tan had many years of auditing experience in a Big 4 firm. Professor Tan has an active interest in the development of accounting standards and provides feedback to policy-making bodies. She has co-authored two books on IFRS that are used by a number of Asian universities. Professor Tan served on the inaugural Learning and Assessment Committee of the Singapore Qualification Programme, was a member of the Advisory Committee for Accounting Standards for Statutory Boards, and was also a member of the Financial Reporting Committee of the Institute of Singapore Chartered Accountants (ISCA). She was awarded the Public Administration Medal (Bronze) in 2015.
- Please logon to https://login.sbf.org.sg/SBFPortal/Sign_In.aspx with your Username and Password to register.
- Please create an account for registration if you do not have an existing account with SBF
- Upon registration, please make payment using credit card via online payment platform. Auto e-acknowledgement and invoice will be sent to your registered email.
- No cancellation will be allowed upon registration, but attendance by a replacement delegate from your company is welcomed. Please notify SBF of the change at least 3 days’ notice prior to event to enable logistical arrangements for the replacement.
- Payments are required with registration and must be received prior the workshop to guarantee your place.
- Participants will only be admitted if payment/proof of payment has been received prior to the event or on event day.
- You will still be liable for the payment in the event of no-show on actual day of the event.
- Singapore Business Federation (SBF) reserves the right to cancel or make any adjustments to the event.
Other payment modes:
1) Electronic Payment
Internet banking services with UOB or DBS via Billing Organization.
2) VISA/MASTERCARD Terminal
Payment can be made via our VISA/MasterCard terminal in our office
3) Cheque Payment
Please cross your cheque payable to Singapore Business Federation and send it to: 160 Robinson Rd #06-01, SBF Center, Singapore 068914
Please indicate the Invoice number, Company and Participant name at the back of the cheque.
If you have registered less than 5 working days before the event date, please bring along the cheque on the day of workshop.
If you have further enquires or clarifications, please contact email@example.com (ATTN: Eady NG) | 6827 6867
Ref No.: SB180445
NOTE : To safeguard the well-being of all participants, we advise members who are feeling unwell to refrain from attending the session
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