Course Detail(A238 : IFRS13/SFRS(I) 13/FRS113: Fair Value Measurement – A Practical Approach)
Not Available

UTAP Funding

A238 : IFRS13/SFRS(I) 13/FRS113: Fair Value Measurement – A Practical Approach NEW

7.00 CPE Hours (Category 1)
Classroom

Programme Objective

Measuring fair value poses significant challenges to entities due to the inherent risk in having to apply judgement which can be construed as subjective rather than objective. Fair value cannot be measured with absolute precision and management is expected to provide a faithful representation of fair value at the measurement date based on all information available.

This course is intended to provide a practical approach to various fair value measurement methodologies. It also provides an analysis of the various accounting models to account for the effect of changes in fair value.

Programme Outline


Topic 1

An introduction to the development of fair value accounting models

  • Fair value measurement Versus other measurements (historical cost; current cost; realizable (settlement) value; present value)
  • Double entry system for fair value accounting
  • Handling gains and losses arising from fair value changes
  • Circumstances where fair value accounting may not be appropriate in reporting transactions and events in practice
  • Impact on financial results and financial positions – Interpreting financial statements based on fair value accounting system

 
Topic 2
Key features of Fair Value Measurement Standard

  • Definition of fair value
  • Fair value hierarchy (Level 1, 2 and 3)
  •  ‘Highest and best use’ fair value measurement concept for non-financial assets
  • Valuation techniques
  • Fair value and unit of measurement
  • Disclosures – methods used, assumptions made and hierarchy of fair value, etc

 
Topic 3 Accounting issues
Dealing with fair value accounting for non-financial items – general rules and practical examples

  • The use of fair value as a measurement of value in various accounting Standards
  • The difference between ‘fair value model’ and ‘revaluation model’
  • Reporting changes of fair value in ‘profit or loss’; or ‘other comprehensive income’

 
Topic 4
Dealing with fair value accounting for financial Instruments – general rules and practical examples

  • Fair value and amortised cost using effective interest method
  • Present value techniques: Contractual cash flows and discount rate
  • The initial accounting for fair value of intercompany borrowing and lending at below market interest rates
  • Accounting for fair value of financial guarantee contracts
  • Determining and accounting for fair value of derivatives

 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

This programme is suitable for all Finance Professionals and Audit Professionals.

Competency Mapping

Category 1 = 7.00 Hours

Schedule & Fees
Date & Time

26 Apr 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Danny Tan
Date & Time

19 May 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Danny Tan

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022. *This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2020 – 31 March 2021.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.

To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)


Danny Tan

Danny has over 30 years of experience in public practice, commerce and industry. He was trained with a firm of Chartered Accountants in London where he worked for over 10 years in the audit and consultancy. He also held the positions of business development and business operation manager with two UK multinational companies based in London for 5 years. Danny specialises in International Financial Reporting Standards (IFRSs) and in the last 15 years he is a partner of a firm providing training and consulting in the areas of preparing and presenting financial statements in accordance with IFRSs.

Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a fellow member of Chartered Instituted of Management Accountants, a fellow member of Association of Chartered Certified Accountants, a member of Malaysian Institute of Accountants and an associate member of Chartered Tax Institute of Malaysia.
 

Programme Objective

Measuring fair value poses significant challenges to entities due to the inherent risk in having to apply judgement which can be construed as subjective rather than objective. Fair value cannot be measured with absolute precision and management is expected to provide a faithful representation of fair value at the measurement date based on all information available.

This course is intended to provide a practical approach to various fair value measurement methodologies. It also provides an analysis of the various accounting models to account for the effect of changes in fair value.

Programme Outline


Topic 1

An introduction to the development of fair value accounting models

  • Fair value measurement Versus other measurements (historical cost; current cost; realizable (settlement) value; present value)
  • Double entry system for fair value accounting
  • Handling gains and losses arising from fair value changes
  • Circumstances where fair value accounting may not be appropriate in reporting transactions and events in practice
  • Impact on financial results and financial positions – Interpreting financial statements based on fair value accounting system

 
Topic 2
Key features of Fair Value Measurement Standard

  • Definition of fair value
  • Fair value hierarchy (Level 1, 2 and 3)
  •  ‘Highest and best use’ fair value measurement concept for non-financial assets
  • Valuation techniques
  • Fair value and unit of measurement
  • Disclosures – methods used, assumptions made and hierarchy of fair value, etc

 
Topic 3 Accounting issues
Dealing with fair value accounting for non-financial items – general rules and practical examples

  • The use of fair value as a measurement of value in various accounting Standards
  • The difference between ‘fair value model’ and ‘revaluation model’
  • Reporting changes of fair value in ‘profit or loss’; or ‘other comprehensive income’

 
Topic 4
Dealing with fair value accounting for financial Instruments – general rules and practical examples

  • Fair value and amortised cost using effective interest method
  • Present value techniques: Contractual cash flows and discount rate
  • The initial accounting for fair value of intercompany borrowing and lending at below market interest rates
  • Accounting for fair value of financial guarantee contracts
  • Determining and accounting for fair value of derivatives

 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

This programme is suitable for all Finance Professionals and Audit Professionals.

Competency Mapping

Category 1 = 7.00 Hours

Programme Facilitator(s)

Danny Tan

Danny has over 30 years of experience in public practice, commerce and industry. He was trained with a firm of Chartered Accountants in London where he worked for over 10 years in the audit and consultancy. He also held the positions of business development and business operation manager with two UK multinational companies based in London for 5 years. Danny specialises in International Financial Reporting Standards (IFRSs) and in the last 15 years he is a partner of a firm providing training and consulting in the areas of preparing and presenting financial statements in accordance with IFRSs.

Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a fellow member of Chartered Instituted of Management Accountants, a fellow member of Association of Chartered Certified Accountants, a member of Malaysian Institute of Accountants and an associate member of Chartered Tax Institute of Malaysia.
 

Upcoming Schedule

Registration is closed

Date & Time

26 Apr 2019 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

Danny Tan

Venue

60 Cecil Street
ISCA House
Singapore 049709


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