A Practical Guide to FRS Updates - 12th Run

This workshop is designed specifically for accountants and auditors who need to be aware of recent changes and updates to the Singapore Financial Reporting Standards.

Key Topics

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2025

• Amendments to SFRS(I) 1-21 Lack of Exchangeability

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2026

• Amendments to SFRS(I) 9 and SFRS(I) 7 Amendments to the Classification and Measurement of Financial Instruments
• Amendments to SFRS(I) 9 and SFRS(I) 7 Contracts Referencing Nature-dependent Electricity
• Annual Improvements to SFRS(I)s Volume 11

SFRS(I) EFFECTIVE FOR FINANCIAL PERIODS BEGINNING ON OR AFTER 1 JANUARY 2027

• New SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures
• New SFRS(I) 18 Presentation and Disclosures In Financial Statements covering in detail:

* STATEMENT OF PROFIT OR LOSS

• Categories in the statement of profit or loss
• Totals and subtotals to be presented in the statement of profit or loss
• Items to be presented in the statement of profit or loss or disclosed in the notes

* AGGREGATION AND DISAGGREGATION

• Principles of aggregation and disaggregation
• Offsetting

* STATEMENT PRESENTING COMPREHENSIVE INCOME

• Other comprehensive income

* STATEMENT OF FINANCIAL POSITION

• Classification of assets and liabilities as current or non-current
• Items to be presented in the statement of financial position or disclosed in the notes