Staying Ahead of the Corporate Reporting Changes



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The uncertain global economy has resulted in greater interests over the carrying value of assets, liquidity presentation and the use of varied instruments for fund raising purposes. The widely debated ‘package of 5’ consolidated related standards and fair value standard which will be effective soon, are expected to have broader impacts on business practices, systems and processes.

Let PwC help you navigate through these developments. An interactive workshop focused on implementation issues will be conducted, highlighting practical solutions that will be reinforced through quizzes and short exercises. We will also guide you through the new illustrative disclosures and advise you on the best way to leverage PwC resource publications when preparing your 2012 financial statements.

Our speakers will cover the following key areas:

Module 1: Hot topics and updates (9am - 3.30pm)

1. Hot topics on current Singapore Financial Reporting Standards (“FRS”) including:

  • Roll-over/refinanced loans
  • Perpetual securities and convertible bonds
  • Cash placed with treasury centres
  • Impairment of financial and non-financial assets
  • Sale of properties under construction
  • Insurance recoveries
  • Deferred tax relating to tax incentives

2. FRSs that are effective from 2013 including:

The new Standards on Consolidation and Joint Arrangement (FRS 110, FRS 111, FRS 112 and consequential amendments to FRS 27 and FRS 28)

  • Revised definition of control and its application issues
  • Classification of joint arrangement between joint operation and joint venture, and its impact on accounting (equity accounting method is now mandatory for participants in joint venture)

3. Upcoming wave of changes from: IFRS projects on revenue, leases and updates on financial instruments

Module 2: Preparing for your 2012 financial statements (4:00pm - 5:30pm)

1. Illustrative disclosures from FRSs that are effective 2012 and onwards

  • Presentation of items of other comprehensive income (FRS 1 amendment)
  • Deferred tax on investment property carried at fair value (FRS 12 amendment)
  • Subsidaries, joint arrangements and associates: nature, risks and financial effects of these investments (new FRS 112)
  • Financial and non-financial assets measured at fair value (new FRS 113)

2. Updates on Singapore Exchange Listing Rules and Guidance, including Revised Code of Corporate Governance and Sustainability Reporting

 

Who should attend?
Anyone who is involved in the preparation and interpretation of financial reporting. Users of financial information will also find this workshop beneficial.


Date & Time
25 September 2012, 9am – 5.30pm


Fee
Both modules: S$520 (PwC client or alumni); S$600 (public) - Enjoy 7% discount for 3 or more participants of the same organisation.
Module 2 only: S$90 (PwC client or alumni); S$120 (public)


More information about the seminar, including registration details, is available in the flyer > Download