About this Course

The Accounting Standards Council has adopted the International Financial Reporting Standard for Small and Medium-sized Entities (“IFRS for SMEs”) as the Singapore Financial Reporting Standard for Small entities (“SFRS for small entities”) as at 30 November 2010. This programme provides a practical toolkit to prepare participants to implement SME Accounting using the simplified standards.

Specific Objectives:

1. To provide a clear guideline on implementing SFRS for Small entities
   
2. To enable participants in understanding the requirements of SFRS for Small Entities
   
3. To prepare participants to migrate to SFRS for Small Entities with a clear understanding on the differences compared to Full IFRS
   
4. To provide a quick solution in implementation at the participants’ workplace with a ready to use toolkit
   

Programme Outline 

• Understand the recognition criteria and the necessary disclosures required in SFRS for Small Entities
  
• Use the toolkit to implement SFRS for small entities in their workplace
  
• Identify entities that qualify to use SFRS for small entities
  
• Learn how to use SFRS for small entities recommended Presentation and disclosure checklist in ensuring completeness and compliance
  
• Differentiate the SFRS for small entities from Full SFRS and able to notice the significant reduction in disclosures and treatment
  
• Learn with illustrations used in current practitioners, to ease implementations
  
• Transit to SFRS for small entities with minimal disruptions and better prepared with this enhanced knowledge
  
• View and peruse SFRS for small entities swiftly, all in two days.
  

Intended For

A Foundation to Intermediate level programme intended for both Practising and Non-Practising Accounting and Audit professionals. Those who are keen to apply the simplified Accounting Standards for SMEs are welcome to attend.

Training Methodology

Lecture style, with Exercises/Case Studies

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