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FRS Updates : 2017 and Beyond

Expert Speaker Michél Herrmann

$430.00 (including GST)



This programme is part of the Professional Skills Series, designed specifically to provide Accountants and Auditors an overview of the new/revised standards effective for the years 2017, 2018 and 2019, issued by the International Accounting Standards Board (IASB) and their respective application in Singapore by the Accounting Standards Council (ASC). Practical examples to solve problems in the selected FRSs will also be discussed.

Programme Outline

  • Overview of projects of the IASB and current trends
  • Selected standards in previous revisions
    • Revision of FRS 113 Fair Value Standard
    • Discussion of deferred tax on intergroup profits
  • New/Revised standards effective in 2017
    • Amendments to IAS 7 / FRS 7 – Disclosure initiative
    • Amendments to IAS 12 / FRS 12 - Recognition of deferred tax assets for unrealised losses
    • Annual Improvement Cycle (Issued in December 2016)
  • New/Revised standards effective in 2018
    • IFRS 9 / FRS 109 Financial Instruments
    • IFRS 15 / FRS 115 Revenue from Contracts with Customers
    • Amendments to IFRS 2 / FRS 102 - Classification and Measurement of Share-based Payment Transactions
    • Amendments to IAS 40 / FRS 40 - Transfers of Investment Property
    • Amendments to IFRS 4 / FRS 104 Insurance Contracts
  • New/Revised standards effective in 2019
    • IFRS 16 / FRS 116 Leases
  • Latest issues / updates

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

Expert Speaker

Michél Herrmann

WP, StB, CPA (US), CA (Singapore)

Michél is a Managing Director of Herrmann Consulting PAC, and has over 13 years of experience in financial reporting and accounting advisory. He had worked for PwC (PricewaterhouseCoopers) in Europe and Singapore where he was in charge of the accounting advisory business. He was involved in various assignments including tax planning, SFRS/IFRS conversions projects, technical accounting advisory, IPOs, SEC filings and due diligences across a wide variety of clients. He was also the lead accounting advisor on IPOs and M&A activitie for Singapore and US-based clients. Michél is a regular speaker in financial conferences and seminars,and since 2010 a Professor for “Advanced Accounting and Auditing” at the University of Friedrichshafen (Germany). He has co-authored several publications on international accounting. Michél has an MBA from the University of Mannheim, and is certified as a German CPA, German Tax Advisor, US CPA and CA of Singapore.

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