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Webinar | ACCA

FRS 118 – Presentation and Disclosure in Financial Statements

This half‑day webinar provides a practical overview of FRS 118, the new standard on presentation and disclosure in financial statements, effective 1 January 2027.

Overview

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This half‑day webinar provides a practical overview of FRS 118, the new standard on presentation and disclosure in financial statements, effective 1 January 2027. Replacing FRS 1, the standard introduces significant changes to the structure of the statement of profit or loss, including five defined income and expense categories and two new sub‑totals.

Participants will explore the three permitted formats for presenting operating expenses (by nature, by function, and mixed), as well as the mandatory disclosure of expenses by nature. The webinar also covers corresponding updates to the statement of cash flows and the introduction of management‑defined performance measures (MPM) as a new disclosure item.

Finally, the webinar addresses transition requirements, equipping finance professionals with the knowledge to prepare for implementation and ensure compliance with the revised reporting framework.

  • Effective date: 1 January 2027
  • Replaces FRS 1 – Presentation of Financial Statements
  • Structure of the statement of profit or loss:
  • Five income/expenses categories
  • Two new sub-totals
  • Presentation of operating expenses – 3 formats:
    • By nature
    • By function
    • Mixed
  • Disclosure of expenses by nature
  • Corresponding changes to statement of cash flows
  • New disclosure item – Management-defined performance measures (MPM)
  • Transition

Daniel Chee

Mr Daniel Chee holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms in Singapore and in the United Kingdom. He also has more than five years of senior management experience with multinational corporations, managing their operations in Singapore and Asia. He was an adjunct associate professor at NUS Business School and then an adjunct professor with the Singapore University of Social Sciences. Mr Chee was a committee member of both the IT Committee and the Examination Committee of the Institute of Singapore Chartered Accountants, and was a Committee member of the Disciplinary Sub-Committee of the Accounting and Corporate Regulatory Authority.

Format

This session will be run as a Webinar format on Zoom.

Who should attend

  • Finance and accounting professionals
  • Financial Controllers, CFOs and Finance Managers
  • Auditors and assurance professionals
  • Valuation practitioners and corporate finance advisors
  • Board members and directors, including audit committee members
Pricing and booking information

Price

Member 185 SGD

Affiliate 195 SGD

Approved employer 210 SGD

Student 195 SGD

Public 245 SGD

Location

Singapore

Date & time

23 January 2026, 13:30 - 17:00 Singapore Time

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