DFF - Director Financial Reporting Fundamentals
Quality financial information is crucial for strong and vibrant markets. It is essential that the market remains confident in the level of transparency, integrity and quality of financial reporting. In response to this, the Accounting and Corporate Regulatory Authority (ACRA) established the Financial Reporting Surveillance Programme (FRSP) to enforce against poor financial reporting that leads to unreliable information and/or non-compliance with the prescribed accounting standards.
The Director Financial Reporting Fundamentals programme is a course to equip directors who have limited or no financial or accounting background, with up-to-date knowledge of accounting principles and practices to perform an effective high-level review of their company’s financial statements that are presented to shareholders and subsequently filed with ACRA.
Programme
Session I - Morning
9.00am : Welcome and overview
9.05am
• Directors’ duty in preparing true and fair statement
• Directors’ duty in implementing internal controls
10.30am : Break
10.45am
Key focus areas when reviewing financial statements (Part 1)
• Impairment of assets and judgemental estimates
• Presentation of Statement Position
• Revenue – timing of recognising revenue
• Fictitious revenue and prepayment
12.30pm : Lunch
Session II - Afternoon
1.30pm
Key focus areas when reviewing financial statements (Part 2)
• Financial statements prepared in a going concern basis
• Provision – liabilities of uncertain nature
• Disclosure in the note – credit risk, fair value measurement
3.30pm : Break
3.45pm
Key focus areas when reviewing financial statements (Part 3)
• Investment in other companies’ equities
• Presentation of Statement of Cash Flow
• Common accounting mistakes
5.30pm : End of Programme
CPD Hours : 7
SID members: $675.80 (incl. 9% GST)
Non-members: $850.20 (incl. 9% GST)
SPEAKER
Daniel Chee, Fellow CA (Singapore)
Mr Daniel Chee holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms in Singapore and in the United Kingdom. He also has more than five years of senior management experience with multinational corporations, managing their operations in Singapore and Asia. He was an adjunct associate professor at NUS Business School. Mr Chee was a committee member of both the IT Committee and the Examination Committee of the Institute of Singapore Chartered Accountants, and was a Committee member of the Disciplinary Sub-Committee of the Accounting and Corporate Regulatory Authority.
Registration
Please register online by 26 February 2024, 5pm.
Course Enquiries
Email: [email protected]
Tel: (65) 6422 1188
Upon successful registration for the course, you are deemed to have read and accepted SID’s Terms and Conditions.
Terms and Conditions for SID Courses/Events
Online registration not available.