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Accounting for Construction Contracts under FRS 115 - Image 1
Accounting for Construction Contracts under FRS 115
Hybrid

In-Person / ZOOM

7

CPD Hours Awarded

In Stock

$490.00/Pax

Date : 7 December 2026

Fee : SGD 490

This workshop qualifies for 7.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1).

This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please indicate in “Remarks” section in your registration your mode of learning.

As part of our commitment towards minimizing carbon footprint and contributing to a healthier planet, we will only be issuing the soft copy of the training materials.

The training materials will be emailed to you 2 days before the workshop. Charging points are available in the training room to charge your digital device.

 

Participant (In Person) 1

Events/Attendees Discount Discounted price
2 5% $465.50
3 - 999 10% $441.00


Sign up for 1 event with 2 attendees: 5% discount
Sign up for 1 event with 3 or more attendees: 10% discount

Sign up for 2 events: 5% discount
Sign up for 3 or more events: 10% discount

Above discounts are only applicable per checkout

Construction contracts often involve long-term, complex arrangements that require specialized accounting treatment. This workshop provides participants with a practical understanding of construction contract accounting, focusing on both technical requirements and practical applications under FRS 115.

Through real-world illustrations and step-by-step guidance, participants will learn how to apply accounting principles to construction projects, ensuring compliance, accuracy, and transparency in financial reporting.

Overview

  • The Revenue from Contracts with Customers Project

5 Steps to Revenue Recognition

  • Identify the contract with the customer
  • Identify the separate performance obligations in the contract
  • Determine the transaction price
  • Allocate the transaction price
  • Recognise revenue when a performance obligation is satisfied

Recognition of revenue

  • Identifying the contract
  • Can construction contracts be combined for accounting purposes?
  • Accounting for variation orders and modifications

Case Question 1

  • Identifying separate and distinct performance obligations in construction contracts
  • Satisfaction of performance obligations
  • Performance obligations satisfied over time – input and output methods

 Case Questions 2 and 3

  • Performance obligations satisfied at a point in time

Measurement of Revenue

  • Determining the transaction price
  • Variable consideration including incentive payments
  • The time value of money
  • Non-cash consideration

Components of contract costs

  • Costs that must be excluded from cost of construction contracts
  • Costs that can be capitalized as work in progress
  • Recognition of expected losses

Revenue Recognition for Sale of Uncompleted Residential Properties In Singapore

Presentation and Disclosure

Case Questions 4 and 5

This workshop qualifies for 7.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1).

  • Accountants and Auditors
  • Anyone who would like to have a practical understanding of the accounting for construction contracts
Sardool Singh

Sardool has been training both students and professionals for the past 30 years, and is a highly sought-after seminar leader in the areas of financial reporting standards, cash flow statements, analysis of financial statements, consolidation and other technical accounting topics. He was an Adjunct Associate Professor in the Department of Accounting of the NUS Business School for 17 years.

Sardool is the Chief Financial Officer of an Investment Company. Prior to his current appointment, he was the Group Financial Controller of a Singapore listed healthcare company, where he was responsible for the entire Group financial functions and the IPOs of two subsidiaries on SESDAQ. His other working experiences were with KPMG Peat Marwick and a Japanese merchant bank.

Sardool brings a commercial perspective to the understanding of complex Accounting Standards and simplifies the requirements of these Standards to enable participants to have a clear understanding of the topics delivered.