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ACCA-Wolters Kluwer Joint Event : FRS 109 Financial Instruments

Expert Speaker Sardool Singh

$430.00 (including GST)



The new Financial Instruments Standard is effective for annual periods beginning on or after 1 January 2018. FRS 109 has replaced FRS 39 Financial Instruments: Recognition and Measurement. The new Standard is complex and will have a considerable impact on financial performance, operations and computer systems especially in relation to the new impairment requirements.

This programme is part of the Professional Skills Series, designed specifically for accountants and auditors who wish to learn more about the requirements of the new FRS in detail (excluding hedge accounting).  Practical examples on the impact of the standard will be provided.

What You Will Learn

At the end of this workshop, you will:

  • Be more familiar with the requirements of the new financial instruments standard
  • Have a practical understanding of the classification of Financial Assets and Liabilities
  • Have a practical understanding of the new impairment model introduced by the standard

Programme Outline

1. Overview

  • Major differences between FRS 109 and FRS 39

2. Scope

  • What are financial assets and financial liabilities?

3. Classification of financial assets

  • Financial asset measured at amortised cost
  • Financial asset measured at fair value through other comprehensive income
  • Financial asset measured at fair value through profit or loss

Comprehensive examples covering each of the classifications

4. Classification of financial liabilities

  • Financial liabilities as subsequently measured at amortised cost
  • Financial liabilities at fair value through profit or loss

5. The new impairment model

  • Measurement of expected credit losses
  • Recognition of expected credit losses
  • Simplified approach for trade receivables, contract assets and lease receivables

Comprehensive examples to practise applying the impairment concepts

6. Presentation and Disclosure

7. Transitional provisions

Expert Speaker

Sardool Singh

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 also 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. 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.

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