Understanding key accounting standards: SFRS concepts and requirements - Workshop SG 2018

My Offerings


This workshop aims to provide an introduction and detailed overview of important Singapore Financial Reporting Standards (SFRS) requirements.Analyse key requirements of the current financial reporting standards applicable in Singapore. Using illustrative financial statements, case studies, and significant FRS and their application, the workshop will focus on the practical application to efficiently prepare financial statements.

Key Topics Covered:

  • Concepts and presentations
    • FRS 1 – presentation of statements and the conceptual framework;
    • IAS 7 – cash flow statements
    • IAS 14 – segment reporting
    • Statement of financial performance
    • Statement of changes in equity or SORIE
    • FRS 105 – assets held for sale and discontinued operations
    • FRS 8 – accounting policies
  • Inventories
    • FRS 2 – inventories
    • Lower of cost and market & cost to sell approach
  • Property, plant and equipment
    • FRS 16 – tangible assets
    • FRS 40 – investment property
    • FRS 23 – interest capitalisation
  • Intangibles
    • IAS 38 – intangible assets
    • Qualifying asset and identifying useful live problems
  • More on assets
    • FRS 17 – leases
    • FRS 36 – impairment of assets

This workshop is part of the Finance For the Future Program and is eligible for funding support of more than 40%* off the workshop fees. Eligibility conditions apply. Enter code FUTURE18 at checkout. 

*Discount based on member price

Trainer Profile:

Michél Herrmann

Michél has over 12 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.

Learning objectives

  • Understanding of the current requirements of key SFRS
  • Hands-on application of recognition and measurement principles under SFRS
  • Learn how to solve practical accounting problems under SFRS


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