FRS update for reporting - Singapore Workshop 2017

The workshop aims to provide an overview of the changes to FRS from the latest annual improvement project, cover the new standards applicable for 2015/2016, and provide details of the latest standards issued by the IASB and their respective application in Singapore by ASC. Practical examples to solve problems in selected standards will also be discussed.

Key topics covered

1. Overview of projects of the IASB and current trends

2. Annual improvement cycle 2015 - 2017

  • IAS 12 Income Taxes: Accounting for income tax consequences of payments on financial instruments that are classified as equity
  • IAS 23 Borrowing Costs: Borrowing costs on completed qualifying assets

3. New standards in final stage

  • FRS 115 Revenues from contract with customers
  • FRS 116 Leasing
  • FRS 109 Financial Instruments

4. 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
  • INT FRS 121 Levies

This workshop is part of the Your Business & Finance Advantage Program and is eligible for funding support of 50% off the workshop fees. Eligibility conditions apply.  Enter code YBFA50 at checkout. 

Trainer profile

Michél Herrmann

Michel has over 11 years of experience in financial reporting and accounting advisory. Prior to founding HERRMANN CONSULTING, Michel 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 at 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 CA Singapore.

Learning objectives

  • 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


This workshop is suitable for Accountants, Financial Managers, Finance Controllers and anyone who is interested in the key SFRS requirements and its application.


1 day