2016 FRS Update: Insights Benefits of attending Objective

PwC | The Academy
2016 FRS Update: Insights
Sharing insights from our
experiences on
implementation of new
standards
Benefits of attending
Objective
To help participants assess
the impact and act on the
latest critical changes in the
financial reporting
standards.
Who should
attend?
Anyone who is involved
in the preparation,
review, use and
interpretation of
financial statements
While there are relatively fewer updates on the Financial Reporting
Standards that are effective 2016, the next big wave of new standards is
fast-approaching with consequential changes to financial reporting. FRS
109 Financial instruments, FRS 115 Revenue from contracts with
customers and the newly issued global standard for Leases, IFRS 16, are
underway. Implementing these new standards is challenging, however it
will create opportunities to identify gaps and strengthen the quality of
financial information reported to users. This is also one of the best
practice in response to regulators’ continued support to their initiatives of
raising the bar of quality of financial reporting in Singapore.
PwC’s 2016 FRS Update, Insights, is carefully designed to achieve the
following:
1.
2.
3.
4.
5.
Share the latest practical issues faced by Singapore companies in
preparing for the major changes to financial reporting standards FRS 115, FRS 109, FRS 116
Shed light on common application issues scrutinized by regulators
consistently
Leverage from your peers’ experiences through open discussion and
sharing of status
Comprehensive update of improvements and amendments to other
standards that may affect your financial reporting
Understand the requirements of SGX as to sustainability reporting
PwC | The Academy
Workshop agenda – Full-day
9:00am to 5:30pm (Registration starts at 8:30am)
Pan Pacific Hotel
7
CPE
credits
Latest updates in Singapore Financial Reporting
Standards (FRS) - Annual improvements and
amendments to FRS effective for annual periods
beginning 1 January 2016 and onwards
FRS 109 Financial instruments
• FRS 109 in a nutshell – relevant topics for corporates
• How can you benefit from the relaxed rules of hedge
accounting to minimize your volatility to P&L?
The big waves of changes:
Common application issues: Tips to get it correct
FRS 115 Revenue from contracts with customers
•
• In brief: FRS 115
• Sharing of common implementation issues encountered
• Latest updates and development in the standard: Principal •
vs. Agent and Licenses
•
IFRS 16 Leases
• What are the significant changes in the leasing standards
and how it will impact your financial position, profitability
and debt covenants.
• What are the options available to you upon effectivity of
the standard and how to choose the best option for your
business.
• What are the business implication and practical approach
•
Impact from currency environment – how to meet
the key requirements of FRS 21 Effects of changes in
foreign exchange rates
Impairment – making your impairment exercise count
Business acquisitions – focus on frequently asked
questions on common-control combinations
Disclosure initiative – what are the common financial
statement presentation pitfalls and how to avoid it?
Sustainability Reporting
•
•
What is sustainability all about and what are the value
drivers for your company
SGX requirements - we will share the required components
for reporting and how other companies comply with it
About the workshop leaders
Kok Moi Lre
Chen Voon Hoe
Partner
[email protected]
Partner
[email protected]
Moi Lre is a Partner who leads the Accounting Consulting
Services team in Singapore which provides accounting
solutions to audit teams and clients. She is also a member
of the PwC Global network of IFRS reporting specialists,
the Financial Reporting Committee and Financial
statements Review Committee of the Institute of
Singapore Chartered Accountants.
She has extensive experience on auditing, due diligence
reviews, initial public offering (IPOs) and other advisory
services of listed companies and financial institutions.
How to register
For registration and enquiries, please call Ms Siti or
Maimunah at (65) 6236 3957/3 or email us at
[email protected]
A complete calendar of training courses can also be found
on our website at www.pwc.com/sg/academy
Voon Hoe is a Partner who leads the Accounting and
Financial Reporting Advisory services in Singapore. He
has over 20 years of experience in providing finance
solutions pursuant to a number of reporting framework –
IFRS, US GAAP, public sector accounting, integrated
reporting and various local GAAPs across Asia.
In addition, he has advised on a number of billion dollar
transactions involving initial public offering, mergers and
acquisitions and capital raising. He is also a member of
PwC Global network of IFRS reporting specialists and
PwC Global Banking Industry Accounting Group.
Trainers’ involvement in the workshop is subject to availability and
PwC reserves the right to appoint the most appropriate trainer.
Registration fee
PwC Clients & Alumni: S$550 (Includes 7% GST)
Public: S$630 (Includes 7% GST)
© 2016 PricewaterhouseCoopers Risk Services Pte. Ltd. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Risk Services Pte. Ltd., which is a
member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.
PwC’s Academy
Registration Form
2016 FRS Updates
Fees: PwC clients/alumni - S$550 • Public - S$630
Please register the following person/s for the workshop on:
□ 15 September 2016
□ 24 November 2016
1.
Name: Mr/Ms/Mdm ……………………………………………… Designation: …………………………………………….
Email: ………………………………………………………………….. Contact No: ……………………………………………...
2. Name: Mr/Ms/Mdm ……………………………………………… Designation: …………………………………………….
Email: ………………………………………………………………….. Contact No: ……………………………………………...
Contact Person
Name: Mr/Ms/Mdm …………………………………………………… Designation: …………………………………………….
Company: ………………………………………………………………….. Address: ………………………………………………...
……………………………………………………………………………………………………………………………………………………
Email: …………………………………………… Contact No.: ……………………………….. Fax: …………………………….
Enclosed is cheque for S$........... (Cheque no. …………..) made payable to:
“PricewaterhouseCoopers Risk Services Pte. Ltd.”
Registration and Payment
Registrations can be done by telefax at (65) 6236 3300 but will only be confirmed upon receipt of payment and registration form. Please
mail the registration form and payment to PricewaterhouseCoopers Risk Services Pte. Ltd. at 8 Cross Street, Level 10 Mail
Centre, PWC Building Singapore 048424 (Attn: Siti/Maimunah, M&C Dept).
For registration and enquiries, please call Ms Siti or Maimunah at (65) 6236 3957/3 or email us at [email protected]
In-Company Training
This workshop can be presented on-site at your organisation as an in-house programme. For more information, email us
at [email protected].
Note:
• Fees includes 7% GST, refreshment, lunch and seminar kit
• The seminar will be conducted at a dedicated training room in PwC Building or at a venue located near MRT.
• Certificate of Attendance will be awarded on successful completion of the workshop
Cancellation policy:
• Full payment must be made prior to the seminar. Registration forms submitted without payment will not be accepted.
• Registered participants will be liable for the full fee even in the event of non-attendance.
• Upon receipt of registration, any request for cancellation or a replacement must be confirmed in writing at least (7) working days
before the seminar and subject to PwC’s Academy’s approval.
• 10% administrative fee will be imposed for any cancellation or deferment received less than (5) working days before the seminar.
• PwC’s reserves the right to amend, postpone or cancel or postpone the seminar due to unforeseen circumstances.
Tax deduction
Companies can claim 400% tax deductions or 60% cash payout of total registration fees under the Productivity and
Innovation Credit (PIC) Scheme. Terms and Conditions apply. For more information, please visit the IRAS website at
www.iras.gov.sg/irashome/picredit
© 2016 PricewaterhouseCoopers Risk Services Pte. Ltd. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers LLP, which is a member firm of
PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.