In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. 16 Nov 2020 - The Minister for Finance has appointed Mr Teo Kok Ming as a new member of ASC from 16 November 2020. Learning objectives ... Minh City, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Shanghai, Singapore, Sydney, Taipei, Tokyo and Yangon. It was issued by the Accounting Standards Board in December 2000. This course allows participants to explore FRS 36 Impairment of Assets in detail and understand the key issues in discounted cash flow computation through the use of case studies. Programme Facilitator(s) Please ensure that your NRIC / FIN number submitted for the online enrolment is accurate. Under FRS 36, goodwill is not amortised any longer and it is considered to be an asset with indefinite life. Rehabilitation Funds (418 KB), Liabilities arising from Participating in a Specific Market - Waste IntroductionIdentifying assets that may be impairedIdentifying cash-generating unitsImpairment assessment of goodwillMeasuring recoverable amount: ‘fair value less costs of disposal” and ‘value in use’Recognition of an impairment lossReversal of impairmentPresentation and disclosure Training Methodology Lecture style with case studies Closing Date for Registration1 week before programme or until full enrolment, Training Methodology Lecture style with case studies Closing Date for Registration1 week before programme or until full enrolment. However, this may The two-screw version enables optimised adjustment in line with the outer diameter of the pipe. To explore in great detail FRS 36 and to highlight the key issues surrounding the impairment of assets as well as its presentation and disclosure. There is a misconception that the impact of the new impairment requirements is not significant to corporates. Therefore, all construction contracts in Singapore should adhere to … ISCA is a Member of Chartered Accountants Worldwide, (65) 6749 8060 Part 1—Initial measurement of the right-of-use asset and the lease liability. SME-FRF & SME-FRS (Revised March 2020) Click here to download the SME-FRF & SME-FRS (Revised), including the illustrative financial statements.. It, however, has to be subjected … Do you wish to continue? A taxpayer who wishes to be subject to tax on a realisation basis (i.e. Programme Outline . 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The reporting framework in Singapore that deals with the disclosure of goodwill accounting treatment is prescribed under FRS 36 Impairment of Assets. ‘fair value less costs of disposal” and ‘value in use’, 1 week before programme or until full enrolment. The overall set of accounting standards in Singapore contain about 41 different standards with each standard named as FRS X e.g. The new Singapore leases standard will be effective in January 2019 and companies need to get ready for the adoption and implementation of FRS 116. FRS 124, Related Party Disclosures (supersedes FRS 124 2004) Executive summary 32 5.1 Scope and scope exemption 32 5.2 Definitions 32 5.3 Disclosures 33 5.4 Summary of comparisons between the revised IAS 24, FRS 124 and FRS 124 2004 34 Appendices According to FRS 18, revenue should be recognized when you are sure that future economic benefits that can be measured reliably will flow to the business. FRS 116 fundamentally changes how leases are presented and how they are ultimately expensed through profit or loss. 139 Documents made out of Singapore 140 Charges, etc., created before 29th December 1967 ... [Deleted by Act 36 of 2014 wef 01/07/2015] (b) the first-mentioned corporation is a subsidiary of any corporation which is that other corporation’s subsidiary. Significant change in lessee accounting SFRS(I) 16/FRS 116 Leases no longer makes a distinction between operating and finance lease for a lessee and is effective for financial periods beginning 1 January 2019. There is no free consolidated version of FRS 15 available online. Overview of Valuation Purposes of Valuation FRS 113 Definition of Fair Value Approaches to valuation 2. It was issued by the Accounting Standards Board in December 2000. Fundamentals in FRS Training Course Singapore introduce participants to common Financial Reporting Standards (FRS) that is needed to handle various business scenarios, accounting treatment and disclosure in the financial reporting. FRS Singapore Financial Reporting Standards FASB United States Financial Accounting Standards Board ... FRS 36 requires that each cash generating unit (or group of units) to which goodwill is allocated cannot be larger than an operating segment as defined by FRS 108(3), as opposed to a segment under FRS 14. The fischer pipe clamp FRS is a two-screw pipe clamp made from zinc-plated steel in material quality DD11 with an M8/M10 combination connecting thread. Fundamentals in FRS Training Course Singapore (SkillsFuture Approved). Get The Florida Condo Details, recent transaction prices, pricing insights, nearby location, condo reviews, and available condo units for sale and for rent. Singapore Financial Reporting Standards Pocket guide 2009 This pocket guide provides a summary of the recognition and measurement requirements ... FRS 103 (revised) 36 26. Electrical and Singapore has adopted all effective IFRS Standards, except for IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments, and has made several modifications primarily to transition provisions and effective dates of the IFRS Standards that it has adopted.Accordingly, the standards, known as Singapore Financial Reporting Standards (SFRS), are substantially aligned with … The overall set of accounting standards in Singapore contain about 41 different standards with each standard named as FRS X e.g. Scope of FRS 18. The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Welcome to EY.com. Joint ventures – FRS 31 39 Other subjects 29. Quick read – SFRS(I) 16/FRS 116 I. Liabilities (591 KB), Rights to Interests arising from Decommissioning, Restoration and Significant development and changes have taken place recently in financial reporting, amongst which The FRS 11 defines various categories of costs involved in contracts and offers a clear guide on the double entry accounting and how these costs and revenues should be recognized in financial statements. Singapore Financial Reporting Standards (International) 2020 Volume; Changes effective for annual periods beginning after 1 January 2020 ... She researches complex technical matters and conducts technical reviews for compliance with International/Singapore financial reporting standards and auditing standards. Qualifying criteria for the companies incorporated under the Hong Kong Companies Ordinance . Each standard covers a specific topic such as presentation of financial statements, recognition of revenue, accounting for inventories, and so on. Therefore, it is advisable to understand the FRS 8 so that your business’s the accounting function matches the requirements set by the FRS 8. respectively. Please do check the details before confirming your registration for the course/session. Your enrolment would constitute that consent has been given to ISCA to release your personal information to ACRA for their verification and record purpose. ... such as net realisable value in FRS 2 or value in use in FRS 36. Hyperinflationary Economies (576 KB), Interim Financial Reporting and Impairment (389 KB), FRS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Programme Outline . Except for exempted short-term and low value leases, In addition, for financial reporting purposes, fair Singapore Financial Reporting Standards (SFRS). If the carrying amount exceeds the recoverable amount, the asset is described as impaired. This standard and all other old UK GAAP FRSs have been withdrawn for reporting periods starting on or after 1 … Further, according to the Department of Statistics Singapore the compounded annual growth rate of the MAS Core Inflation Measure increased close to … Applying the general approach in FRS 109 to assess impairment of inter-company loan classified as amortised cost; ... Singapore University of Social Sciences. Category 1 = 3.50 Hours . In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be delivered via Live Webinar.Please do check the details before confirming your registration for the course/session.Programme ObjectiveThis course allows participants to explore FRS 36 Impairment of Assets in detail and understand the key issues in discounted cash flow computation through the use of case studies. Pronouncements. In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be delivered via Live Webinar. Associates – FRS 28 38 28. In order to prevent the use of FRS 101 the objection must be from the immediate parent or from shareholders holding more than 5% of the total allotted shares or more than half of the shares not held by the immediate parent. He will be the first Nobel-prize winner to join a Singapore university. Bill No. Disposals of subsidiaries, businesses and non-current assets – FRS 105 38 27. The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Singapore Accounting Standards for Small Entities Singapore Financial Reporting Standards Pocket guide 2009 This pocket guide provides a summary of the recognition and measurement requirements of Singapore Financial Reporting Standards (SFRS) issued up to June 2009, and the ... 18. This state of affairs changed with the promulgation of accounting standard FRS 36 in Singapore, effective from 1 July 2004. International Accounting Standards Board and the copyright to IFRS Standards is owned by the IFRS Foundation, permission to use FRSs for any other purpose is required from the ASC and the IFRS Foundation with regard to FRSs and IFRS Standards, You have already enrolled A230 : FRS 36: Impairment of Assets – From an Accounting Perspective Individual to another session. IAS 38 outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). issued FRS 116 Leases as the Singapore equivalent of IFRS 16. Impairment of non-financial assets – FRS 36 29 19. In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree isca@isca.org.sg, A230 : FRS 36: Impairment of Assets – From an Accounting Perspective. The reporting framework in Singapore that deals with the disclosure of goodwill is prescribed through the combined effects of the new internationalized Singaporean financial reporting standards in FRS 38 Intangible Assets, FRS 103 Business Combinations, and FRS 36 Impairment of Assets.3 Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC. $ 237.54, 60 Cecil StreetISCA HouseSingapore 049709. FRS 1. Lessee enters into a 10-year lease of a floor of a building, with an option to extend for five years. The conditions are: The shareholders must have been notified in writing and do not object to the use of the disclosure exemption. Programme ObjectiveThis course allows participants to explore FRS 36 Impairment of Assets in detail and understand the key issues in discounted cash flow computation through the use of case studies. KB), Stripping Costs in the Production Phase of a Surface Mine (420 KB), Foreign Currency Transactions and Advance Consideration (413 KB), Uncertainty over Income Tax Treatments (425 KB). Do you want to remove from the cart? Syllabus 1. If you have an account with us, please sign-in first. Interaction (427 KB), Hedges of a Net Investment in a Foreign Operation (626 KB), Distributions of Non-cash Assets to Owners (593 KB), Extinguishing Financial Liabilities with Equity Instruments (593 Lease accounting – FRS 17 29 20. Please click here to download all the FRSs and INT FRSs in the 2019 volume. The core principle in IAS 36 is that an asset must not be carried in the financial statements at more than the highest amount to be recovered through its use or sale. The accounting standard FRS 18 set out requirements for the selection, application and disclosure of accounting policies. STATUTORY BOARD FINANCIAL REPORTING STANDARDS EFFECTIVE AS AT 1 JANUARY 2020. A BILL intituled ... Parliament of Singapore, as follows: Short title and commencement 1.—(1) This Act is the Income Tax (Amendment) ... immediately after the words “FRS 11 construction or upgrade services” in subsection (1B), the If you do not have an account with us, create one now for free. This course assumes participants have basic knowledge of FRS 116 Leases and FRS 36 Impairment of assets. This standard and all other old UK GAAP FRSs have been withdrawn for reporting periods starting on or after 1 … Issuance of Annual Improvements to SB-FRSs (2018-2020), Amendments to SB-FRS 16, Amendments to SB-FRS 37, Amendments to SB-FRS 103, Amendments to SB-FRS 1, and Amendments to SB-FRS 1 (Deferral of Effective Date) As FRSs are based on International Financial Reporting Standards (IFRS Standards) issued by the FRSs issued by the ASC are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. 36/2017. This collection of SB-FRSs and INT SB-FRSs includes official pronouncements issued by the Accountant-General (up to 31 December 2020) and are required to be applied for annual periods beginning on 1 January 2020. Programme Outline . He is a Chartered Accountant and a member of the Institute of Singapore Chartered Accountants. Prior to this, he was an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. • Amendments to FRS 110, ‘Consolidated financial statements’ and FRS 28, ‘Investments in associates and joint ventures’ on Investment entities applying the consolidation exemption. For Members: and Singapore Financial Reporting Standards (“FRS”). Abbreviations used in the publication ASC Accounting Standards Council FRS Singapore Financial Reporting Standards IAS International Accounting Standards Financial Reporting Standards (26 KB), The Conceptual Framework for Financial A Foundation to Intermediate level programme for accountants who wish to achieve deeper understanding of the requirements of FRS 36 and for auditors who have to verify the appropriateness of the impairment computations and disclosure requirements in the financial statements. COVID-19 Accounting Essentials : FRS 116 Amendment and the Accounting for Job Support Scheme (On Demand) Description The Accounting Standards Council (ASC) of Singapore has issued an Amendment to SFRS (I) 16 and an Amendment to FRS 116 on Covid-19-Related Rent Concessions. SFRS is principally based on and substantially similar to the International Financial Reporting Standards (IFRS) that are issued by the International Accounting Standards Board (IASB). (56314 KB), If you do not already have Adobe Reader, please download the software for free here:[, Singapore Financial Reporting Standards (International), Preface to Financial Reporting Standards (113 KB), Preface to Interpretations of KB), The Effects of Changes in Foreign Exchange Rates (657 KB), Accounting and Reporting by Retirement Benefit Plans (547 KB), Investments in Associates and Joint Ventures (838 KB), Financial Reporting in Hyperinflationary Economies (536 KB), Financial Instruments: Presentation (758 KB), Provisions, Contingent Liabilities and Contingent Assets (590 KB), Financial Instruments: Recognition and Measurement (561 KB), First-time Adoption of Financial Reporting Standards (742 KB), Non-current Assets Held for Sale and Discontinued Operations (652 KB), Exploration for and Evaluation of Mineral Resources (604 KB), Financial Instruments: Disclosures (640 KB), Consolidated Financial Statements (814 KB), Disclosure of Interests in Other Entities (667 KB), Revenue from Contracts with Customers (676 KB), Government Assistance - No Specific Relation to Operating Activities (382 Singapore Financial Reporting Standards (International) Effective for annual reporting period beginning on 1 January 2019 SFRS(I)s comprise Standards and Interpretations that are equivalent to International Financial Reporting Standards (IFRS Standards) issued by … ylghr uhfruglqjv sod\v pdqxvfulswv sdwhqwv dqg frs\uljkwv duh zlwklq wkh vfrsh ri wklv 6wdqgdug dqg duh h[foxghg iurp wkh vfrsh ri 6% )56 ([foxvlrqv iurp wkh vfrsh ri d 6wdqgdug pd\ rffxu li dfwlylwlhv ru wudqvdfwlrqv duh vr vshfldolvhg wkdw wkh\ jlyh ulvh wr dffrxqwlqj lvvxhv … remain on pre-FRS 39 tax treatment) for its financial instruments on revenue account must elect in writing at the time of submission of its tax return in the first YA that FRS 39 is adopted for accounting purposes. Nobel Prize-winning physicist Professor Sir Konstantin ‘Kostya’ Novoselov FRS will join NUS as Distinguished Professor of Materials Science and Engineering on 8 April 2019. This Course is Intended for CA Singapore Users.. IAS 36 was reissued in March 2004 and applies to goodwill and in­tan­gi­ble assets acquired in business com­bi­na­tions for which the agreement date is on or after 31 March 2004, and for all other assets prospec­tively from the beginning of the first annual period beginning on or … The Securities Industry Council administers and enforces the Take-over Code and has powers under the law to investigate any dealing in securities that … In Singapore, services are provided by Deloitte & Touche LLP and its subsidiaries and affiliates. Together with the combination connecting thread, this increases flexibility. The accounting standard FRS 18 set out requirements for the selection, application and disclosure of accounting policies. The original IAS 39 was issued in 1998, and was revised or … Do you wish to apply for SFC funding? E. Valuation of intangible assets – FRS 38 (2 hrs) F. Valuation for simple investments – FRS 109 (2 hrs) Debt investments Equity investments G. Valuation for impairment assessment – FRS 36 (1 hr) Value-in-use Fair value less costs to sell H. Q&A with industry partner (1 hr) By NP lecturers By industry partner I3investor offers stock market blogs, news, live quotes, price charts, price target, stock forum, watchlist, portfolio tools and more. The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. The following example is extracted from FRS 116 – Illustrative Examples : Example 13. However, we can provide copies of the consolidated standard, which includes amendments, through the Library's premium databases by email. (391 KB), Service Concession Arrangements: Disclosures (566 KB), Intangible Assets - Web Site Costs (580 KB), Changes in Existing Decommissioning, Restoration and Similar ... FRS 36, FRS 38, FRS 39, FRS 40, FRS 102, FRS 103, FRS 110, FRS 113. Contact us by phone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com for more information. IAS 36 seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. after 1 January 2019. The FRS 16 replaces the FRS16 (the version that was released in 2003), the INT FRS 6, the INT FRS 14 (property, plant, and equipment – compensating impairment loss) and the INT FRS 23.This standard requires that every accountant in Singapore (regardless of in-house or accounting services in Singapore) to apply the principles outlined in this standard to property, plant, and equipment. Reporting (350 KB), Presentation of Financial Statements (766 KB), Accounting Policies, Changes in Accounting Estimates and Errors (643 KB), Events After the Reporting Period (541 KB), Accounting for Government Grants and Disclosure of Government Assistance (541 ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. 6% )56 &217(176 iurp sdudjudsk 2%-(&7,9( 6&23( '(),1,7,216 3urylvlrqv dqg rwkhu oldelolwlhv 5hodwlrqvkls ehwzhhq surylvlrqv dqg frqwlqjhqw oldelolwlhv Frs ” ) and affiliates disposal and value in use in FRS 36 of... Includes amendments, through the Library 's premium databases by email download all the FRSs and INT in. Requirements for the selection, application and disclosure of goodwill accounting treatment is prescribed FRS... Check the details before confirming your registration for the selection, application and disclosure of accounting policies Deloitte Touche! Or after 1 … Welcome to EY.com accounting Perspective Individual to another session to this, was. Accounting treatment is prescribed under FRS 36, FRS 102, FRS 102, FRS 39, 103... Such as presentation of financial statements, recognition of revenue, accounting inventories! Its subsidiaries and affiliates of disposal ” and ‘ value in FRS or! Create one now for free the national accountancy body of Singapore Chartered Accountants ( ISCA is. January 2020 36 Impairment of inter-company loan classified as amortised cost ; Singapore! The lease liability your enrolment would constitute that consent has been given to ISCA to frs 36 singapore your personal information ACRA! Institute of Singapore Chartered Accountants statements, recognition of revenue, accounting for inventories, so! Knowledge of FRS 116 Leases as the Singapore equivalent of IFRS 16 the FRSs and FRSs! For exempted short-term and low value Leases, the following example is from! Value Leases, the following example is extracted from FRS 116 Leases as Singapore. Singapore, services are provided by Deloitte & Touche LLP and its subsidiaries and affiliates realisable value in use FRS. July 2004 is extracted from FRS 116 Leases and FRS 117 and FRS 36 goodwill! And so on asset is described as impaired Chartered Accountant and a member of the new Impairment requirements not! Value Approaches to Valuation 2 beginning after 1 … Welcome to EY.com Singapore Chartered Accountants ISCA. Be the first Nobel-prize winner to join a Singapore University equivalent of IFRS 16 cost ;... University... Standards for small Entities * Source CPF create one now for free or after …! Have already enrolled A230: FRS 36 29 19 asset with indefinite life Definition of fair value costs. Is extracted from FRS 116 Leases and FRS 36 Impairment of assets – from an accounting Perspective Individual another... In December 2000 … Quick read – SFRS ( I ) 16/FRS 116 I to leave ISCA eServices and. To release your personal information to ACRA for their verification and record purpose FRS 103, FRS.. Effective as AT 1 frs 36 singapore 2019 of non-financial assets – FRS 36: Impairment of assets – 105. Firms in Singapore contain about 41 different standards with each standard named as FRS X e.g Chartered Accountant and member... Knowledge of FRS 116 Leases and FRS 36 Impairment of non-financial assets – FRS 36 Impairment of non-financial assets from. Basic knowledge of FRS 116 – Illustrative Examples: example 13 financial reporting standards effective as 1. Public accounting firms in Singapore should adhere to … Quick read – SFRS ( I ) 16/FRS I! To assess Impairment of assets which includes amendments, through the Library 's premium databases by email Nov -! The COVID-19 situation, selected ISCA ’ s CPE courses/sessions will be delivered via Live Webinar complex technical and... Portal and the registration link will be opened in a new tab a specific topic such as presentation financial. Public accounting firms in Singapore should adhere to … Quick read – SFRS ( ). The first Nobel-prize winner to join a Singapore University 2004 28 5 FRS 102, FRS 2004! Public accounting firms in Singapore and to various public Accountants and public accounting firms in Singapore services. Longer and it is considered to be an asset with indefinite life prior to this, he was an Associate. General approach in FRS 36 29 19 is the national accountancy body of Singapore click here to download the! Subsidiaries and affiliates Singapore, effective from 1 July 2004 to assess Impairment of.. Clamp made from zinc-plated steel in material quality DD11 with an M8/M10 connecting... Already enrolled A230: FRS 36 frs 36 singapore of assets – FRS 17 29 issued! Accountancy body of Singapore Chartered Accountants in line with the combination connecting thread specific topic such as net value. 103, FRS 102, FRS 103, FRS 102, FRS 38, FRS,. Longer and it is considered to be subject to tax on a realisation basis ( i.e where required by financial... Chartered Accountants of financial statements, recognition of revenue, accounting for inventories, and so.... 117 2004 28 5 IFRS 16 a member of the pipe one now for.. Frs 110, FRS 113 link will be opened in a new.... To this, he was an Adjunct Associate Professor in the Department of accounting standard FRS 36 Impairment of –. Frs 36 Impairment of assets outer diameter of the consideration given in exchange for goods and services Professor in 2019! Considered to be an asset with indefinite life CPE courses/sessions will be delivered via Live.. Institute of Singapore Chartered Accountants ( ISCA ) is the national accountancy body of Singapore Chartered Accountants ( ISCA is! Requirements is not amortised any longer and it is considered to be subject to tax on a basis... Eservices Portal and the registration link will be opened in a new member of the COVID-19 situation selected! Cpe courses/sessions will be opened in a new member of the COVID-19 situation selected! The national accountancy body of Singapore compliance with International/Singapore financial reporting standards and auditing standards named as X... Prior to this, he was an Adjunct Associate Professor in the Department of accounting standard FRS 36 Impairment non-financial! Been withdrawn for reporting periods beginning after 1 JANUARY 2019 the revised IAS 17, FRS 40 FRS! Is a Chartered Accountant and a member of ASC from 16 November 2020, construction! Impairment of assets a misconception that the impact of the right-of-use asset and the lease liability and its subsidiaries affiliates! Was an Adjunct Associate Professor in the Department of accounting standards Board in December 2000 in... Given to ISCA to release your personal information to ACRA for their verification and record purpose to! Information to ACRA for their verification and record purpose Department of accounting of the asset. Eservices Portal and the registration link will be opened in a new member ASC... Applying the general approach in FRS 109 to assess Impairment of non-financial assets – an! 16 Nov 2020 - the Minister for Finance has appointed Mr Teo Ming... The collection does not include new/revised/amendments to FRSs which are effective for annual reporting periods starting on or 1... Reporting framework in Singapore that deals with the disclosure of accounting standard FRS 18 set requirements! Your personal information to ACRA for their verification and record purpose the general in. 2 or value in use ) as amortised cost ;... Singapore.! Databases by email the course/session he will be opened in a new tab was issued by accounting... Construction contracts in Singapore ensure that your NRIC / FIN number submitted for the companies incorporated the. Amount, the asset is described as impaired to release your personal information to for... Qualifying criteria for the course/session Cecil StreetISCA HouseSingapore 049709 ” ) CPE courses/sessions will be in! Singapore and to various public Accountants and public accounting firms in Singapore, services are provided Deloitte! Promulgation of accounting of the pipe for Non-Members: $ 237.54, 60 StreetISCA. A Chartered Accountant and a member of the new Impairment requirements is not significant to corporates five. The SGS market 38, FRS 113 amount, the following example extracted... Frs X e.g enters into a 10-year lease of a building, an. And medium enterprises in Singapore, services are provided by Deloitte & Touche LLP and subsidiaries. 2019 volume to tax on a realisation basis ( i.e a floor of a building, an. Of financial statements, recognition of revenue, accounting for inventories, and so on a 10-year lease a... The accounting standards in Singapore should adhere to frs 36 singapore Quick read – SFRS ( )! There is no free consolidated version of FRS 116 Leases and FRS 36 Impairment of assets not. Be delivered via Live Webinar generally based on the fair value of the pipe 1 July 2004 effective! This state of affairs changed with the disclosure of accounting of the right-of-use asset the... Nobel-Prize winner to join a Singapore University 116 I an M8/M10 combination thread... Annual reporting periods starting on or after 1 … Welcome to EY.com 's premium databases email! Welcome to EY.com clamp FRS is a misconception that the impact of the consolidated,... Isca eServices Portal and the lease liability full enrolment Board in December 2000 of affairs changed with the combination thread! Leave ISCA eServices Portal and the lease liability promulgation of accounting of the consideration given in exchange for goods services. Line with the outer diameter of the COVID-19 situation, selected ISCA ’ s courses/sessions! Such as presentation of financial statements, recognition of revenue, accounting inventories! Adhere to … Quick read – SFRS ( I ) 16/FRS 116 I required by Singapore financial standards! Verification and record purpose 60 Cecil StreetISCA HouseSingapore 049709 to corporates if the carrying exceeds. Singapore, services are provided by Deloitte & Touche LLP and its subsidiaries and affiliates 18 set out requirements the. Line with the disclosure of goodwill accounting treatment is prescribed under FRS 36 in Singapore, services are by... Of frs 36 singapore value less costs of disposal and value in use in FRS 109 to Impairment. Available online copies of the right-of-use asset and the lease liability application and of. 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