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SFRS (I) 16 / FRS 116 Leases: A Practical Update on the new Leasing Standard

Expert Speaker Tan Yee Peng

$535.00 (including GST)

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Overview

The new leases standard SFRS (I) 16 / FRS 116 will require companies to bring most leases on-balance sheet from 2019. The off-balance sheet accounting of operating leases would no longer be permissible for most leases.

What you’ll learn

By the end of the workshop, you will : 

  • Have a practical understanding of the requirements of this new Leases standard, both from the lessee and lessor’s perspectives
  • Know how to determine the impact of the standard on assets, liabilities and a front-loaded pattern of total lease expense using worked examples
  • Receive practical tips on to operationalize the standard

Programme Outline

The full-day interactive programme will include many exercises and worked examples and will cover the following :

  1. Identifying a lease under SFRS (I) 16 / FRS 116
  2. An introduction to the technical terms in SFRS (1) 16 / FRS 116, including lease payments, variable lease payments, lease term and implicit interest rates
  3. Accounting for leases by lessees under SFRS (I) 16 / FRS 116
  4. Accounting for leases by lessors under SFRS (I) 16 / FRS 116
  5. Accounting for a sale and leaseback transaction
  6. Accounting for lease modifications
  7. Transitioning to the new standard

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

Expert Speaker

Tan Yee Peng

Tan Yee Peng is an Adjunct Associate Professor of the Nanyang Business School, Nanyang Technological University (NTU) and is a regular trainer on accounting topics. 

Yee Peng previously served as a partner of KPMG in Singapore and has more than twenty years of accounting and auditing experience.  As an audit and advisory partner, Yee Peng was closely involved in providing accounting and advisory services to her clients in both the private and public sectors.  She also acted as the Reporting Accountant and auditor for several companies listed on the Singapore Exchange. 

Yee Peng was also appointed as the partner in charge of KPMG’s Professional Practice Department which is responsible for the technical and professional standards of the Firm as well as the partner for the firm’s Learning & Development department which oversees the developmental needs of its 2,000 staff.  
 
Yee Peng holds a Bachelor of Accountancy (First Class Honours) degree from the Nanyang Technological University and is a Fellow of the Institute of Singapore Chartered Accountants and a member of the Singapore Institute of Directors.   

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