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
CPD Hours : 7
SID members: $669.60 (incl. 8% GST)
Non-members: $842.40 (incl. 8% GST)
SPEAKER
Edgar Wong
Tax Practitioner
Mr Edgar Wong is an accredited tax practitioner (FCCA FCA Singapore ASEAN CPA) and specialises in income tax and goods and services tax. He has held various positions in banking, insurance and property sectors over the past 30 years, and has worked in Standard Chartered Bank and NTUC Income. Through his accounting practice, he provides consultancy services to small and medium sized enterprises from the services, retail and manufacturing sectors. His areas of focus are on strategy, finance and tax issues across various jurisdictions. Mr Wong is an integral facilitator to some merger and acquisition activities, and is also an associate lecturer and corporate trainer.
Registration
Please register online by 4 September 2023.
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.