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A Deeper Look at the new FRS 118 – Presentation and Disclosure in Financial Statements ( 05/26 )
Hybrid

In-person / ZOOM

7

CPD Hours Awarded

In Stock

$490.00/Pax

Date: 15 May 2026 ( Friday )

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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3 - 999 10% $441.00


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FRS 118 Presentation and Disclosure in Financial Statements will replace FRS 1 Presentation of Financial Statements. While much of FRS 1 will be carried forward to the new standard with only limited wording changes, FRS 118 introduces several new requirements that are expected to impact the presentation and disclosure of most, if not all, entities. This session explains the key presentation and disclosure changes introduced by FRS 118, how these differ from FRS 1, and assess the practical implications for financial statement preparers and auditors.

  • Five categories of presenting income and expenses in the statement of profit or loss
  • Mandatory subtotals and totals in the statement of profit or loss
  • Presentation of income and expenses in operating, investing and financing categories
    • Assessing whether an entity has a specified main business activity
    • Entities without specified main business activities
    • Entities that invest in assets as a main business activity
    • Entities that provide financing to customers as a main business activity
    • Classification of income and expenses from foreign exchange differences
    • Elimination of foreign exchange differences on intercompany loans on consolidation
  • Presentation of expenses in the operating category of the statement of profit or loss:
    • By nature
    • By function
    • Mixed
  • Separate presentation of non-recurring items
  • Minimum line items to be presented in the statement of financial position
  • Aggregation, disaggregation and labelling
  • Consequential amendments to statement of cash flow
    • Cash from operating activities – start with operating profit
    • Elimination of options for cash flow associated with interest and dividend
  • Management-defined performance measures (MPM)
    • Definition and scope
    • Disclosure of MPMs

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

  • Accountants
  • CFOs and Finance Managers
  • Audit Professionals
  • Directors and Audit Committee Members
  • Anyone who is interested in understanding the new FRS 118 

Chee Hay Kheong Daniel

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).