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Webinar | ACCA

Overview of new updates made to HKAS 1, HKAS 21 and HKAS 7

One of the four webinars covered in ACCA Hong Kong Accounting Updates Series 2025

Overview

Atrium with people and trees

This webinar is about HKICPA’s amendments to various standards as follows:

  • The amendments to HKAS 1 clarify (1) how to classify liabilities as current or non-current and (2) how conditions with which an entity must comply in a loan arrangement affect the classification of the loan as current or non-current and (3) add disclosure requirements to help users to understand the risk that non-current liabilities with covenants could become repayable within twelve months.
  • The amendments to HKAS 21 and HKFRS 1 require an entity to apply a consistent approach to assessing whether a currency is exchangeable into another currency and, when it is not, to determining the exchange rate to use and the disclosures to provide.
  • The amendments related to HKAS 7 and HKFRS 7 introduce new disclosure requirements to enhance the transparency of supplier finance arrangements (SFA) and their effects on an entity’s liabilities, cash flows and exposure to liquidity risk in response to investors’ concerns that some entities’ SFA are not sufficiently visible, hindering investors’ analysis.

The webinar will cover:

  • Amendments to HKAS 1 - Classification of Liabilities as Current or Non-current (applicable to accounting periods beginning on or after 1 January 2024)
  • Amendments to HKAS 21and HKFRS 1 - Lack of Exchangeability (applicable to accounting periods beginning on or after 1 January 2025)
  • Amendments to HKAS 7 and HKFRS 7 - Supplier Finance Arrangements (applicable to accounting periods beginning on or after 1 January 2024)

Kenny Leung, Partner, PwC Hong Kong

Kenny Leung is a partner in the Assurance practice in PwC Hong Kong. He has more than 15 years of experience in assurance in Hong Kong, the United Kingdom and China serving various multinationals in transportation and logistics, real estate, hospitality, engineering and construction, wastewater treatment. Kenny assisted clients in various multi-locations group audit, initial public offering, and bond offering.

Given the wide spectrum of matured and emerging clients that Kenny has been involving with, his expertise lies in bringing different expertise in PwC to serve the wider needs of his clients. He also has good experience and connections in working with global teams in multi-locations group audit.

Kenny is a member of the Hong Kong Institute of Certified Public Accountants, a member of the Institute of Chartered Accountants in England and Wales, and an examination assessor of the Hong Kong Institute of Certified Public Accountants.

  • The webinar is conducted in Cantonese.
  • The webinar is broadcast via ON24.
  • Each enrolee will receive an email confirmation including the webinar access links and passwords after successful registration.
  • Enrolee can access the recorded webinars until 31 March 2026.
  • Enrolee’s own attendance record can be downloaded in the webinar platform after attending the webinar.
  • The series is under ACCA’s Subsidy CPD Scheme. In the Scheme, three percent of seats of our selected CPD events are open on a complimentary and first-come, first-served basis to members who are currently entitled to reduced subscription and retired members on ACCA’s register. ACCA Hong Kong reserves the right to determine which CPD events are included under the Subsidy CPD Scheme. If you are eligible for the Scheme and would like to join the series, please drop us an email to hkinfo@accaglobal.com for enquiries.

Price

Member 100 HKD

Affiliate 100 HKD

Approved employer 150 HKD

Student 100 HKD

Public 200 HKD

Location

Hong Kong SAR of China

Date & time

On demand

Enquiries

Email enquiries hkinfo@accaglobal.com

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