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ACCA-Wolters Kluwer Joint Event : Statement of Cash Flows : Complying with FRS 7 and Avoiding the Common Pitfalls

Expert Speaker Sardool Singh

$430.00 (including GST)

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Overview

Preparing a cash flow statement is an essential accounting skill. It seems like a simple task, but it is not as straightforward as it seems.

This programme is part of the Professional Skills Series , designed specifically to help accounting and reporting professionals prepare the statement of cash flows in compliance with FRS 7. Using examples from published financial statements to illustrate scenarios and their applications, the Trainer will explain how to incorporate non-operating changes in assets and liabilities due to factors such as acquisitions, foreign currency translations and other comprehensive income.

Programme Outline

  • Benefits of preparing cash flow statements
  • Revelation of the short-cut techniques to prepare cash flow statements
    • Format of cash flow statements using direct and indirect methods
    • Cash flows from operating, investing and financing activities
    • Meaning of Cash and cash equivalents
    • Interest paid
    • Accounting for acquisition and disposal of subsidiaries
    • Non-cash transactions
    • Foreign currency cash flows
    • Disclosure requirements
  • Case Study 1
    • Basic cash flow statements preparation
  • Case Study 2
    • Cash flow statements preparation using both direct and indirect method
  • Case Study 3
    • Consolidated cash flow statements including acquisition of subsidiary during the year
  • Case Study 4
    • Accounting for foreign currency translation reserve movements arising from consolidation of foreign subsidiaries and consolidated cash flow statement
    • In its recent observations from the Financial Reporting Surveillance Programme ( FRSP ) , ACRA has urged directors to pay more attention to whether cash flows are appropriately classified within operating, investing or financing cash flows. ACRA continues to observe errors where foreign currency translation differences are presented as an adjusting item in the statement of cash flows prepared using the indirect method. Such translation differences typically arise from the consolidation of foreign subsidiaries / operations and do not involve cash flows. Hence, they should not be presented as an adjusting item. This will be illustrated in Case Study 4.

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

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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