About The Course

This one-day course is designed to keep accountants and finance professionals up-to-date with the latest changes to accounting standards, including FRS 109, FRS 115 and FRS 116.

The programme covers the complex changes and new rules associated with these standards, and provides practical guidance on how to assess and handle their impact on business operations and financial statements.

By attending this course, you'll gain valuable insights on how to assess and handle the impact of these revisions.

See the Outline for details on what would be covered in this full day webinar.

Course Outline

FRS 109 - Financial Instruments

1. Scope - What are financial assets and financial liabilities?

2. Measurement of financial assets

• financial assets measured at amortised cost

• financial assets measured at fair value through other comprehensive income

• financial assets measured at fair value through profit or loss

3. Classification of financial liabilities

• financial liabilities as subsequently measured at amortised cost

• financial liabilities at fair value through profit or loss

4. The new impairment model

• Measurement of expected credit losses

• Recognition of expected credit losses

• Simplified approach for trade receivables, contract assets and lease receivables

FRS 115 - Revenue from Contracts with Customers 

5 Steps to Revenue Recognition

1. Identify the contract with the customer

• Combination of contracts

• Contract modifications

2. Identify the separate performance obligations in the contract

3. Determine the transaction price

• Variable consideration

• The time value of money

• Non-cash consideration

4. Allocate the transaction price

5. Recognise revenue when a performance obligation is satisfied

• Performance obligations satisfied over time

• Performance obligations satisfied at a point in time

• Non-cash consideration

FRS 116 - Accounting by Lessees

• Measurement of right of use assets

• Measurement of the lease liability using the right discount rates and factoring variable lease payments

• Determining the lease term including options to renew

• Reassessment of the lease liability

OPEN TO GLOBAL MEMBERS: Please enquire by email at info.sg@accaglobal.com to confirm membership and class status before booking. 

ACCA Member & Affiliate CPD Subsidy

ACCA Singapore is currently offering a special subsidy to active Singapore members and affiliates so as to help them meet their CPD requirements. This offer is available on selected courses here and on a limited basis. Terms and conditions apply. 

CPD units

Your attendance to this course will accord you with 7.0 CPD units (ACRA Category 1). A CPD certificate will be emailed to you within 3 business days after the completion of the course.


Sardool Singh FCCA

Sardool is an adjunct associate professor in the department of accounting of the NUS Business School. He has been lecturing for the past 20 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. Sardool brings a commercial perspective to the understanding of complex accounting standards and simplifies the requirements of these Standards to enable the participants to have a clear understanding of the topic.

Sardool is a chief financial officer of an investment company. Prior to his current appointment, he was the group financial controller of a Singapore listed healthcare company. During his ten years in the healthcare industry, he was responsible for the entire group financial functions and the IPOs of two subsidiaries on SESDAQ. He had also gained his working experience with KPMG Peat Marwick and a Japanese merchant bank.