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FRS Overview Part 1 : Applying the Essential Accounting Standards in Real Life
Hybrid

In-Person/Zoom

7

CPD Hours Awarded

In Stock

$449.00/Pax

Date: 24 August 2026 ( Monday )

Time: 9am-5pm

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

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This workshop is the first instalment of the FRS Overview Series, tailored for accountants and auditors seeking a deeper understanding of key Financial Reporting Standards (FRSs) commonly applied in practice.

Led by an experienced trainer, this workshop bridges theory and practice, helping professionals navigate the complexities of financial reporting with clarity and confidence. The session will feature extensive examples and interactive questions to clearly illustrate the core principles and applications of each standard covered.

FRS 1: Presentation of Financial Statements

  • Upcoming new Standard FRS 18 Presentation and Disclosures in Financial Statements

FRS 8: Accounting Policies, Changes in Accounting Estimates and Errors

  • When are accounting policies changed?
  • Retrospective and prospective adjustments
  • Difference between change in estimates and policies
  • Accounting for prior year errors

FRS 10: Events after the Reporting Period

  • How long is the post balance sheet event period?
  • Difference between adjusting and non-adjusting events
  • Examples of non-adjusting events that require disclosures

FRS 20: Accounting for Government Grants and Disclosure of Government Assistance

  • Accounting for asset grants
  • Accounting for expense related grants

FRS 23: Borrowing Costs

  • When are borrowing costs capitalised?
  • What are qualifying assets?

FRS 27: Separate Financial Statements

  • What are separate financial statements?
  • Accounting for investments in subsidiaries, associates and joint ventures in separate financial statements

FRS 32: Financial Instruments: Presentation

  • Presentation of treasury shares
  • Equity vs liability presentation

FRS 36 Impairment of Assets

  • The impairment model
  • What is value in use?
  • Rules for allocating impairment losses to CGUs
  • Limits to the allocation exercise

FRS 37: Provisions, Contingent Liabilities and Contingent Assets

  • The 3 conditions that must be met to recognise a provision
  • The 4 levels of probability to recognise provisions and contingent liabilities
  • The 4 levels of probability to recognise contingent assets

FRS 40: Investment Property

  • Meaning of investment property
  • The 2 measurement models
  • Measurement rules for any change in use

FRS 103: Business Combinations

  • Partial vs full goodwill method
  • Assets recognised at consolidation level not recognised by the acquire

FRS 110: Consolidated Financial Statements

  • How is control achieved?
  • The 3 steps to determine control

FRS 115: Revenue from Contracts with Customers

  • The 5-step revenue recognition model
  • Contract modifications
  • Variable consideration
  • Recognising revenue over time or at one time
  • Input and output methods to recognise revenue

Learn it today, apply it tomorrow : The session integrates practical illustrations and case questions, enabling participants to quickly apply the accounting standards in real-world scenarios.

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

  • Accountants and Auditors
  • Members of audit committee, finance directors 
  • Anyone who would like to have a practical overview of the accounting standards
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.