FRS updates for reporting - Workshop 2016

This program highlights key developments of the IASB and the Financial Reporting Standards (FRS). The aim is to give participants a holistic understanding and updates of the FRS.

Understanding the standards and interpretations under Financial Reporting Standards (FRS) is necessary to prepare and or interpret financial statements. The program highlights key developments of the IASB and the Financial Reporting Standards (FRS).

The aim is to give participants a holistic understanding and update of the FRS. The program will also cover the latest interpretations and trends of key standards.

1.    Overview of projects of the IASB and current trends

2. New standards applicable for 2015/2017

Group Accounting
• FRS 101 First time adoption of Government Loans
• FRS 110 Consolidated financial statements
• FRS 111 Joint arrangements
• FRS 112 Disclosures of interests in other entities
• FRS 113 Fair value standard

Single Financial Statement
• FRS 17 Exposure Draft (final) on Leasing (changes of the year 2014)

Annual Improvement cycle 2014-2016
• IFRS 5: Changes in methods of disposal
• IFRS 7: Servicing contracts
• IFRS 7: Applicability of the amendments to IFRS 7 to condensed interim financial statements
• IAS 19: Regional market issue
• IAS 34: Disclosure of information "elsewhere in the interim financial report"

3. Latest interpretations
• INT FRS 117 Distribution of non-cash assets to owners
• INT FRS 118 Transfer of assets from customers
• INT FRS 119 Extinguishment of debt


This workshop is part of the Finance Operations Development Program and eligible for funding support of up to 43% off the course price. Eligibility conditions apply.

Enter code FUND10 at checkout. To apply the promotional code, you must complete separate payment for each workshop.

Learning objectives

• Practical insights on financial reporting standards and trends
The following are the learning outcomes of the program:
• Hands-on examples to help you better understand and apply FRS
• Technical help by working through case studies designed to help you successfully manage real life issues
• Hear insights from the following subject matter expert

Michél Herrmann
Michél has over 11 years of experience in financial reporting and accounting advisory.  Prior to founding HERRMANN CONSULTING, Michél 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. Michél 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).   Michél received a master degree from the University of Mannheim. He is certified as a German CPA, German Tax Advisor, US CPA and CA Singapore.


This program is suitable for Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the interpretation of the Financial Reporting Standards or preparation of financial statements. Other users of financial information or those who seek an understanding of the FRS will also find the program beneficial.

1 day