Financial Reporting Suite: Provisions and Liabilities - Workshop 2018

This workshop aims to provide an overview on the accounting requirements to recognise, measure and disclose provisions and liabilities. During the training, you will learn about the general rules on provisions and liabilities before being introduced to the more complex areas of asset retirement obligations, restructuring and termination benefits. The content will also be supplemented with the respective recognition under the tax code of Singapore.

Key Topics Covered:

  • Provisions (FRS 37) - Introduction and Overview, Criteria on recognition, Disclosure
  • Contingent liabilities - Measurement, Disclosure
  • Restructuring liabilities and provisions (FRS 37) - Recognition criteria, Measurement, Tax issues
  • Termination benefits (FRS 19)
  • Asset retirement obligations (FRS 16 and FRS 37) - Measurement, Changes in estimates and interest rates, Disclosure

This workshop is part of the Financial Reporting Suite and is eligible for a 10% off workshop fees for sign-ups of 2 or more workshops in the suite. Enter code FRS18 at checkout.

Trainer Profile:

Michél Herrmann
Michel has over 12 years of experience in financial reporting and accounting advisory. Prior to founding HERRMANN CONSULTING, Michel 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 advice, IPOs, SEC filings and due diligences across a wide variety of clients. Michel 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). 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

  • Learn about the concepts and the structure of accounting for liabilities and provisions under FRS.
  • Understand the different views of tax and accounting on provisions.
  • Work on hands-on examples and case studies to understand the complex measurements of Asset Retirement Obligation (ARO) and termination benefits.


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