FRS Updates 2026 : A Critical Overview of Key Developments in Financial Reporting
June 8, 2023
This workshop delivers a structured and critical analysis of selected current developments in financial reporting. It is designed to enable accountants and auditors to systematically evaluate these updates and determine their practical implications for reporting practices and compliance requirements.
The new FRS 118 Presentation and Disclosure in Financial Statements
- FRS 118 vs the existing FRS 1
- Presentation of income and expenses in operating, investing and financing categories
- Presentation of operating expenses by nature or by function or by mixed method
- Disclosure of management-defined performance measures
FRS 109 Amendments
- Derecognition of financial liabilities
- Derecognition of financial liabilities by cheque transfer
- derecognition of financial liabilities using electronic payment system
- Investment in equity designed at fair value through other comprehensive income
- Additional disclosure relating FVOCI investment in equity
- Accountants
- Audit Professionals
Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 15 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with MNCs, managing their operations in Singapore and Asia.
Daniel is a highly sought-after seminar trainer. He was an Adjunct Professor in the School of Business, Singapore University of Social Sciences and an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).
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2026
Using Copilot and AI in Audit Engagements
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A Practical Guide to Withholding Tax in Singapore : Compliance, Challenges and Best Practices
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A Deeper Look at the new FRS 118 – Presentation and Disclosure in Financial Statements ( 10/26 )
19 October 2026
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Vibe Coding for Accounting & Finance Professionals and Business Managers
21 October 2026
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2026 AGO Findings: Observations on Key Lapses and the Ethical Lessons
22 October 2026
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FRS Overview Part 2 : Applying the Essential Accounting Standards in Real Life
23 October 2026
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Applied AI for the Future-Ready Accounting & Finance Professionals and Business Managers ( 10/26 )
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The Art of Contract Negotiation: Acquiring the Practical Skills and Avoiding the Common Pitfalls
27 October 2026
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Audit of Impairment under FRS 36
27 October 2026
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GST InvoiceNow Readiness: Strengthening GST Data, Controls and Governance for a Digital Tax Environment
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CPD Hours: 7
AI & Automation for Accountants : Bridging Accounting and Technology
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Accounting Standards Updates 2026 ( 11/26 )
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Navigating AI Risks and the Ethical Imperatives ( 11/26 )
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Using AI in the Audit of Financial Statements
18 November 2026
CPD Hours: 7
Business Analytics & Reporting with Generative AI
19 November 2026
CPD Hours: 7
GST Treatment for Imported Services and Low-Value Goods
20 November 2026
CPD Hours: 3.5
Accounting, Auditing and Ethical Lessons from Recent Financial Scandals ( 11/26 )
23 November 2026
CPD Hours: 7
Audit of Going Concern
24 November 2026
CPD Hours: 3.5
Valuation for Financial Reporting: Impairment, Expected Credit Loss and Fair Value Measurement
3 December 2026
CPD Hours: 7
A Deeper Look at the new FRS 118 – Presentation and Disclosure in Financial Statements ( 12/26 )
4 December 2026
CPD Hours: 7
Accounting for Construction Contracts under FRS 115
7 December 2026
CPD Hours: 7
AI & Automation for Accountants : Bridging Accounting and Technology ( 12/26 )
9 December 2026
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Internal Controls in Practice: Ethics, Risks & Red Flags
16 December 2026
CPD Hours: 7
Accounting Standards Updates 2026 ( 12/26 )
21 December 2026
CPD Hours: 7
